Want to retire early? You don’t have to be rich to do it. Here are 5 real ways to make early retirement a reality.
We compare the most popular solo 401k options from providers such as Fidelity, Vanguard, Schwab, Etrade, and more to show you the best prices.
HSAs can double as a secret IRA and allow you triple tax benefits so that you can save for the future in a tax deferred account.
I’m a big fan of methods and orders of operations for doing things. I think that it is essential to have a set plan for executing tasks, especially long term tasks like saving for retirement. But what’s the best way to go about funding retirement? What is the proper order to save? Remember back in […]
By the time retirement rolls around, most Americans have saved less than half of the amount that experts recommend. Instead of being an unprepared statistic, make a resolution to max out your retirement savings, and let compounding interest bolster your savings. The IRS changes annual retirement contribution limits each year. As a result, it can […]
It’s one of the worst moments that can happen to you while working – getting laid off and losing your job. And guess what? The job market and economy is still weak and millions of Americans don’t have a stable job. Even big companies, like Wells Fargo, are announcing layoffs. In fact, I was just […]
If you are a recent college graduate you have an amazing opportunity. If you are willing to take a few simple steps now, you’ll have a much easier time preparing for retirement than people 10 years senior and older. Right now, you may not make as much money as people who have been at it […]
As most young adults make the transition from living at home and going to school, to getting their own place and landing their first jobs; many of their parents are starting to make the transition from working full time to retirement. This can be a challenging time for both parties, but if you arm yourself […]
Planning your financial future can be vague, but here are some tools, questions, and resources to help you understand and plan for your money future.
One of my biggest focuses to build wealth is simply earning more money. For many, that involves creating a side hustle. For some, that side hustle or passion can turn into a full time gig. In some cases, that can turn into something very lucrative. I’ve always been curious about how to become self employed. The thought […]
The latest research suggests increasing your stock allocation after retirement. Find out why.
Plan for a successful retirement by focusing on savings and investing as early as possible.
Utilize your employer’s match and save for retirement in your 401(k).
The dream of retiring early – it’s a dream shared by many millennials. Millennials are a generation that don’t really like working for “the man” and want to setup their lives on their own terms. As such, the structured nine to five world is a bit demoralizing and creates a culture of wanting escape. But […]
If your employer matches your contribution under you 401K plan, you must avail this and invest the maximum permissible amount. This is like your additional income. And your investment grows with the power of compounding. If you want to learn more check out these resources: How to Maximize Your Employer’s 401k Contribution How Rollover a […]
Being young, retirement seems like it’s so far away. But in reality, it’s getting farther away every year for most millennials. In 1993, the average retirement age in the United States was 57. Today, the average retirement age is 62. In those 20 years, people are now working an average of 5 years longer. However, […]
With rising longevity, plan for at least 25 years after retirement. Think of maintaining the pre- retirement standard of life that would be about three- fourth of pre-retirement annual expenses. Calculate the requirement of retirement corpus post tax and post inflation. This will help you determine how much money you should be stashing away each […]
If you have any employment income, you may contribute to an Individual Retirement Account. Your contributions are tax deductible under certain conditions. Understand their tax implications and contribution limits. Avail the available benefits. If you want to learn more check out these resources: What Type of IRA Should You Open? 5 of the Worst IRA […]
Make a retirement plan and stick to it. Avoid frequently reallocating the funds. Reallocating your retirement account frequently in an attempt to maximize yields may not only cause you to lose your way as it relates to retirement savings, but it can also cause you to unwittingly expose your savings to much higher risks than […]
Normally you wouldn’t think about retirement when you’ve just started earning an income. But if you start early, the effects of compounding can be huge. By planning and investing early for retirement, you allow your investments more time to grow. Your savings will grow with the power of compounding. The sooner you start investing for […]
When signing up for benefits this year, you may notice something different when it comes to your 401k contribution – opt-out auto-escalation. Confused? It’s the idea that employees need to decide NOT to join the 401k and NOT to increase contributions each year, rather than opt in. When enrolling in your benefits, you’ll notice something similar […]
Individual retirement accounts (IRAs) are great vehicles for investing in for retirement. However, as with anything the government creates, they don’t always make it easy to navigate the ins-and-outs of the product. If you currently have an IRA, or are thinking about starting to invest in an IRA, make sure that you don’t do these […]