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You probably know that saving and investing are essential to retirement planning. But just as important to the equation: Social Security planning. It’s impossible to overstate the importance of Social Security to retirees. The truth is, Americans aren’t saving or investing enough for a secure retirement. Without Social Security, approximately 4 out of 10 people […]
How Does Social Security Work? 12 Common Questions Answered Read More »
In February 2012, I decided to negotiate a severance to break free from corporate life. By mid-June 2012, I had received a severance check and the last of my three months of WARN Act pay. Ten years of fake retirement later, I want to share with you some of my biggest takeaways. Overall, it’s been
10 Years Of Fake Retirement Later: The Most Important Takeaways Read More »
One of the very best investment vehicles to prepare for retirement is a Roth IRA. It gives you an opportunity to provide tax-free income once you retire. But a Roth IRA itself is not an investment. That’s why it’s important to know the best investments for a Roth IRA in 2022. The table below summarizes
5 Best Investments for Roth IRA in 2022 Read More »
Just because you opened a 401(k) with one employer doesn’t mean you have to leave your money there after you leave the company. You can roll over your retirement savings from one employer-sponsored account to another, or to an individual retirement account (IRA). Learn how to roll over a 401(k). The post 401(k) Rollover –
401(k) Rollover – What It Is & How to Transfer Your Retirement Account Read More »
Jason Heath: Those approaching retirement can consider these strategies to shave time off their financial independence date https://financialpost.com/personal-finance/retirement/heres-how-to-accelerate-your-retirement-timeline-without-taking-on-too-much-risk #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Here’s how to accelerate your retirement timeline, without taking on too much risk Read More »
Dear Penny, I’ve been separated for more than 10 years after a 30-plus-year marriage. The past 10 years, I’ve supported the family home, paid off all outstanding bills and paid off the credit card debt of over $15,000. I also sold the family home last year and split the proceeds equally. Before selling the home,
Dear Penny: Will I Owe My Husband Alimony if We Separated 10 Years Ago? Read More »
Target-date funds are retirement accounts that choose investments for you based on your expected retirement age. As you get closer to retirement, target-date funds will automatically shift your asset allocation away from high-risk securities toward a more conservative asset mix. Target-date funds rebalance themselves, allowing the investor to take a more hands-off approach to retirement
What Are Target-Date Funds? Read More »
Social Security disability benefits can help you keep a roof over your head and food on the table when you become disabled due to an injury, an illness, or a severe medical condition. That said, applying for these benefits can be a cumbersome process, mostly due to the various steps involved, the complicated paperwork required,
Social Security Disability Benefits + Application Guide Read More »
A robo-advisor is a digital financial advisor that automatically builds and manages your portfolio based on your investment preferences. These algorithm-driven platforms often rely on passive index investing strategies to reduce buying and selling while investing on your behalf. Robo-advisors are built to consider your risk tolerance and financial goals in order to invest with
What is a robo-advisor? Read More »
During times of uncertainty, I prefer owning real assets. Unlike owning stocks, where its value can disappear overnight due to one bad quarter, real estate tends to hold its value better. Roughly 50% of my passive income comes from physical rental properties and investments in private commercial real estate. Therefore, I thought it would be
What’s New At CrowdStreet? Commercial Real Estate Outlook 2022 Read More »
Saving for retirement can feel daunting when you’re choosing among different investment options. While you can enjoy tax benefits with many types of retirement accounts, each one has different rules, advantages, and disadvantages. Learn the differences between Roth IRAs vs. 401(k) plans to help you choose the right path for you. It’s important to remember
Roth IRA vs. 401(k): Which Is the Better Choice for You? Read More »
Dear Penny, I am 73 and have one son who is unmarried and lives in the same town. I also have five siblings. I am very close to my youngest sister who is on disability. I paid my home off two years ago, and I have some 401(k) savings. I am planning on leaving my
Dear Penny: Can My Deadbeat Son Fight My Decision to Disinherit Him? Read More »
A 401(k) match is money your employer kicks in to your 401(k) retirement account, matching your contribution up to a certain percentage of your annual pay. Employer 401(k) matching is a key employee benefit that can help safeguard your future for the long term. How a 401(k) Match Works When setting up your employer-provided 401(k),
What Is an Employer 401(k) Match? Read More »
Dear Penny, I am a single parent. I am 67 years old and ready to retire. However, I am anxious about decisions I need to make. My daughter is in her last year of college. I don’t have any more money to pay for it. So for her last year, should I take from retirement
Dear Penny: Is Using Retirement Money So My Daughter Can Graduate a Mistake? Read More »
After sharing how one man retired at age 41 with a household net worth of $4 million, I thought it would be good to share another story about early retirement from a completely different situation. This story comes from money trauma and how it is being conquered. One of the complaints about the $4 million
Overcoming Money Trauma: Why I Retired To Taiwan With Only $600,000 Read More »
While working in finance, I fantasized about travel blogging. I saw a bunch of people write about all the new places they visited. They chronicled the food they ate and the activities they did while making money online. Given their niche was travel, they could also deduct their travel expenses from their online income. It
Travel Blogging: One Key To A Happier Retirement Read More »
In a world with stagnating wages and an increasing cost of living, many people are looking for a way out of the rat race. That’s why radical investment strategies and risky business ventures are so popular. Believe it or not, there actually is a reliable way to achieve financial independence – but it’s far from
What is the FIRE Movement + How to Make It A Reality Read More »
At this point in our retirement series, you should have a solid understanding of how to save for retirement. So far we’ve gone over how much you should save from your paycheck for retirement, the different investment accounts, like 401k or 403b, and more. If you haven’t figured out how much you need to save
Chapter 11: How to Retire Early Read More »
Employer-sponsored plans, such as 403(b)s and 401(k)s, can be important tools to help you save for retirement. Both of these are tax-deferred retirement savings programs that your employer might offer. Whether or not you have a 403(b) or a 401(k) depends on the kind of employer you work for. The IRS rules regarding how much
403(b) vs. 401(k): Two Ways to Save for Retirement Read More »
The simplified employee pension individual retirement account (SEP IRA) helps self-employed workers save for retirement and get similar tax benefits as employees with traditional retirement plans. Learn SEP IRA rules and eligibility, and the pros and cons of these accounts for small-business owners. The post What Is a Simplified Employee Pension (SEP) IRA Retirement Account?
What Is a Simplified Employee Pension (SEP) IRA Retirement Account? Read More »
