Are Baby Boomers Mismanaging Their Retirement Funds?
Saving for retirement is one of the most crucial life goals because everyone will eventually need to leave work, and will need money to live on when they do. For Baby Boomers who haven’t…
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In my early 50s with $8 million and kids heading to college — should I include illiquid investments in my retirement plan?
A recent Reddit post I came across in the r/fatFIRE community raised an important question for anyone looking to retire early and become financially independent: How should illiquid investments factor into your FIRE calculations?…
In my 20s and just got my first 401(k) offer — how should I kickstart my retirement savings?
A Chinese proverb says, “the best time to plant a tree is 20 years ago; the second best time is now.” The same goes for planning for your retirement. The earlier you start putting…
No Kids, No Problem? Why Some Baby Boomers Are Choosing to Spend It All
Baby Boomers are unique in many ways, one of which being that they are one of the only generations in recent history, and the first in multiple generations to decide, in large numbers, not…
We’re in our 60s with $9 million saved for retirement — excited but worried about the large tax liability coming up
One of the trickier obstacles to handle when retiring with a sizable nest egg is dealing with taxes. Finally getting to enjoy the fruits of years of scrimping, saving, and sacrifice is a prospect…
I met a girl who retired early living purely off investments — how can I achieve that?
Living off just one’s investment income is pretty much the holy grail of retirement. By living off one’s passive income (think dividends, royalties, distributions, and interest), one won’t break open their nest egg and…
Two Big Things Boomers Are Getting Very Wrong About Social Security
24/7 Wall St. : Many Baby Boomers mistakenly think Social Security won’t be there for them. Almost half of Baby Boomers expect Social Security to be a primary income source when that may not…
The Most Popular Strategies for Getting a Raise in the New Year
As we move into a new year, one of the biggest hopes everyone has is that the next year will bring a big pay boost. Whether through a new job or a raise at…
I’m getting a divorce — should I give up half the house or half my 401(k)?
My best friend was getting married. At the rehearsal dinner the night before the wedding, his father stood and made a toast. “Marriage is sacred to a man,” he said. “It’s something he only…
With the current economy, I’m considering cashing out my 401(k) despite the penalties — is this a bad idea?
Sometimes it feels like it’s not worth even trying. You invest in your 401(k) for years to build up a retirement nest egg, but suddenly everything seems on the brink of rack and ruin.…
In my late 30s with $273k in my 401(k) — can I hit $1 million before retirement?
Many people aspire to amass a $1 million nest egg for retirement — including a Reddit poster who recently shared their financial details and asked if they’d be able to end up with seven…
I have a large 401k balance and when I retire I want to take the entire balance and pay taxes on it – is this a smart idea?
After a lifetime of work and saving, you finally made it to retirement and managed to squirrel away a significant nest egg to live off of. Now comes the challenge of making your money…
These are Baby Boomers Top Financial Priorities
from 24/7 Wall St.: Baby Boomers are focused on retirement savings. Paying off debt is another top priority for Boomers. Many Boomers are also focused on building emergency savings. Also: Take this quiz to…
Only contributed $5k to my 401(k) this year — can I put 75% of my paycheck toward it now?
The 401(k) program has been a tremendous help to workers planning for their retirement. Over 71 million workers have access to a 401(k), or 56.6% of all workers, who have put $8 trillion into…
Avoid These Holiday Season Splurges That Could Derail Your Retirement Goals
The holiday season is upon us, and for many financially-savvy folks, it’s time to spoil the loved ones in our lives. Indeed, making splurging a habit could weigh down just about anyone’s retirement plans.…