The Most-Searched Budgeting Tools of 2024
Budgeting tools have become an essential part of modern financial planning. While many people used to keep budgets with pen and paper, most today track expenses and set financial goals on apps. Certain apps…
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Kristin Hitchcock
If your household brings in $400k per year, this is how much you should have saved by your mid-40s
If your household earns $400,000 annually, you should aim to have saved approximately $1.83 million by age 45 to maintain your current lifestyle in retirement. This is assuming several factors, though: A 15% pre-tax…
I already have almost $2 million saved for retirement – should I still max out my employer-offered 401k?
Trying to decide how to finance a home is always difficult. When you have multiple investment accounts as an option, it becomes even more troublesome, especially when the house is in the neighborhood of $3M. Throw…
We banked $4 million in retirement and moved to another country in our early 40s – are we set up to really never work again?
Reddit is a treasure trove of real-life stories, and one post recently caught my attention. The 41-year-old poster shared how his family had recently undergone a serious lifestyle change, leaving behind high-powered jobs and…
“I regret buying the BMW” – Personal finance expert Suze Orman gives her best advice to this young woman
In a recent “Millennial Money” video, Wendy, a driven young professional living in Pasadena, California, opens up about her financial habits and challenges. I love that this video shows that very few people are perfect with…
My wife and I are set to receive a large inheritance later in life – can we afford to stop stashing so much money in our 401(k)?
Trying to balance long-term savings and enjoying life can be a very tricky tightrope to walk! One Reddit user shared a situation that brings up this problem: a combined $700K in retirement accounts, $1.1M…
We’re planning on moving and have a house that’s valued at $3 million – we should keep it and rent it out or just sell it?
A recent post on Reddit’s FatFire forum brought up a classic financial question: rent or sell? Many higher-income individuals eventually find themselves looking to move, only to wonder what to do with their current…
I’m in my 30s with $2.4 million in my brokerage account but only $120k in my employer 401(k)- what should I do with this account?
The r/ChubbyFIRE community is full of interesting financial discussions, especially when it comes to retirement accounts. One Reddit user, 35 years old with $2.4 million in taxable investments and $120,000 in a 401(k), posed…
My wife makes over $1 million per year and is now demanding post nuptial agreement – is it a smart idea to sign it?
When I was scrolling through Reddit’s r/fatFIRE community, which is for those chasing financial independence, a recent post stood out. A user shared their predicament: their spouse, while pregnant with their first child, demanded…
I’m a 38 year old with $380k coming in annually and looking for optimal tax strategies that would impact my 401k
In a recent Reddit post, a user (32M) and their husband (36M) posed an important question about maximizing their retirement contributions. I like this Reddit post because it’s a good example of how retirement…
We’re in our 40s with $9 million in net worth and we think we are ready to retire but we feel anxious
During one of my recent Reddit scrolls, I came across a Reddit post that sparked some interesting discussion. The poster was a 35-year-old woman who was married with two young children. Her question was…
Should I buy a stock before or after a stock split?
Stock splits stir up a lot of noise in the world of investing. A stock split doesn’t change the value of a company but can influence investor sentiment and market activity. That said, a stock…
I’m turning 50 this year and am realizing the $10 million is not enough to retire – how I need to adjust my portfolio?
Retirement planning is a process. It’s very rare that a retirement plan will last all the way through retirement. You must constantly readjust! Recently, I came across this very concept in a Reddit post. The…
I’m 38 with a $3 million portfolio and a fully paid for million-dollar home – would you retire now if you were me?
Recently, I came across a Reddit post on the r/ChubbyFIRE that caught my attention: a 38-year-old with a $4M net worth is questioning whether they can retire early or if they should aim for…
The 7 Best Retirement Jobs You’ll Actually Enjoy
Retirement doesn’t have to mean the end of work—it can be a chance to find fulfilling opportunities that bring purpose and a little bit of extra income. For many, working during retirement is just…
My partner and I have over $5 million in savings – is collecting art a valid way to diversify our investment portfolio?
It’s important to have a diversified portfolio. Many people take this to mean things like stocks, bonds, and real estate. But what about art? A recent Reddit post raised thought-provoking questions about rules and…
Don’t Take a 401(K) Loan Before Understanding These 5 Factors
A 401(k) loan might seem like an easy fix if you need cash. However, it isn’t a decision we typically recommend. Borrowing from your retirement savings can have a huge impact on your long-term financial health. …
My wife just lost her six-figure-paying job – will my salary and our $2 million in savings be enough for us to get by?
Navigating a sudden layoff is never easy, even in a dual-income household! Recently, a Redditor on the r/ChubbyFIRE subreddit shared their concerns after their spouse lost her job following months of uncertainty. With their…
Baby Boomers Are Facing the Toughest Social Security Decision in Decades
For most Baby Boomers, Social Security has long been a cornerstone of their retirement planning. However, the decisions surrounding Social Security are currently more complex than ever. There are tons of factors involved, like…
Social Security’s First Year Retirement Rule Explained
Managing Social Security benefits can be complicated, especially if you decide to retire in the middle of the year. And, let’s be honest, most retirees will not retire right on January 1st! If this describes you,…