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Continue reading →: Avoiding Sequence of Returns Risk: Tips for a Secure RetirementSo, you’ve worked hard and saved hard and it’s time for you to retire. Congratulations! You’re all set to follow the 4% rule and you’re fairly confident that you positioned yourself such that your money will last forever. The coast is clear right? Well, maybe not. There’s something that you…
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Continue reading →: Do Your Own TaxesIt’s been frequently said that in life you can only count on two things – death and taxes. I don’t know about you, but I do my best to avoid both. Death is kindof a macabre issue so instead let’s talk about taxes. Tax evasion is a crime, but thankfully…
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Continue reading →: FIRE Movement: Achieving Financial Independence and Early RetirementF.I.R.E. is an acronym for Financial Independence Retire Early. It’s a lifestyle movement that encourages saving money, reducing expenses, and investing with the goal of breaking from the conventional norms where people work well into their 60s with hopes for a comfortable retirement, someday. Those who subscribe to the FIRE…
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Continue reading →: Choosing Between a 401K (Traditional IRA), and Roth IRA for RetirementShould I be putting my money into a 401K\Traditional IRA or a Roth IRA for retirement? Firstly, congratulations on being interested in saving for your retirement. Secondly, let’s assume that your income or 401K plan doesn’t limit you from contributing to either, and let’s look at a high-level contribution summary…
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Flexible Savings Strategy: Learning the Basics of CD Laddering
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Continue reading →: Flexible Savings Strategy: Learning the Basics of CD LadderingOnline banks are paying some pretty good interest rates on savings accounts these days, but if you want to be certain to lock in these rates for a set period you might want to consider Certificates of Deposit (aka CDs). Currently shorter term CDs are paying over 5%. While they…
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Continue reading →: Retirement Savings – How Much is Enough?It’s a question that everybody asks themselves at one time or another – how much money will I need so that I can comfortably retire? There’s a whole lot of advice out there about needing some multiple of your pre-retirement salary blah, blah, but I don’t subscribe to that method. …
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Continue reading →: How to Break the Paycheck to Paycheck Cycle: Practical TipsA 2024 Forbes magazine article indicated that a staggering 78% of Americans live “paycheck to paycheck”- essentially saying that their income for the week barely covers their expenses. That fact combined with the fact that more than 50% of Americans who have credit cards carry a balance tells you that…
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Continue reading →: The 50\30\20 Rule of Budgeting: A Simple Guide for Better Money ManagementI know that I need to budget my money better, but where do I start? Well, a good place to start might be to consider the 50\30\20 rule of budgeting. Essentially, this guideline recommends that you allocate a percentage of your take-home pay to 3 distinct categories: · 50% to…
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Continue reading →: Traveling vs. VacationingLet me start by saying that my wife Lori and I absolutely love traveling. Our viewpoint is that life is short, so let’s do our best to experience as much as we possibly can. We find though that once we start searching for a destination on say YouTube or Google…
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Continue reading →: Budgeting Tips: Lessons from a Paper RouteThe concept of budgeting seems to be a foreign concept to most people. Admittedly, I didn’t know much about it myself. I first learned about it from my Dad (there’s a pattern here) at a very young age. From age thirteen to sixteen years old I had a morning paper…
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