Should Retirees Be Avoiding the Stock Market? Here’s the Truth
An older relative of mine retired recently and asked for advice on managing his portfolio. I told him his best bet was to sit down with a financial advisor (which I am not) for…
Personal Finance
All Personal Finance Articles
Newest first · Page 418
Whoever said you can’t make a good living in retail has never seen my $80k paycheck
There are certain jobs that tend to lend themselves to giant paychecks. Lawyers typically do quite well, as to people who work in the financial industry. But when we think of large salaries,…
I’m 50 with $9 million and I want to get closer to my retirement plan but I’m not sure that’s possible right now
A 50-year-old Reddit user with $9 million is hoping to retire with enough money to produce $475,000 in pre-tax income in order to allow him to spend $365,000 per year once he has stopped…
Should I pay off my mortgage or save the cash? Dave Ramsey weighs in on this hot topic
Recently, a caller to the Dave Ramsey show had an important question to ask. The caller indicated he has paid off all of his consumer debt already and he will soon have an emergency…
These 3 Social Security Changes That Just Took Effect. How Many Did You Miss?
You’re probably aware that Social Security has been around for a long time. But did you know that the program tends to undergo big changes each year? It’s true. Social Security’s rules get an…
Will Social Security Automatically Enroll You At 70?
One nice feature of Social Security is that it doesn’t lock all seniors into one specific filing age. You can claim benefits as early as age 62. But you’ll need to wait until your…
Millions of Baby Boomers Face This Pension Dilemma: Lump Sum vs. Monthly Payments – Which Is Best?
One of the most significant decisions anyone with a pension can make is taking a lump sum (annuity) versus receiving monthly payments. At some point, you’ll have to make a decision, and this decision…
Should you form an LLC if your income comes from multiple W-2 jobs?
A Redditor recently posted in the FIRE Reddit group looking for advice about starting an LLC. The Redditor doubts that there are any tax benefits with starting an LLC over collecting W2 income increase. Redditors responded…
I’m considering giving my 20 year old kids $250k each but I’m not sure if that’s the best choice
Giving money to your children can set them up for financial success. Extra funds may make it easier for them to buy a house and work toward other financial objectives. However, giving your children…
Is an Annuity Right for You? 3 Factors to Weigh Before Making the Call
In the DIY digital era, where people enter stock trades on Robinhood through a smartphone app, the notion of not managing one’s own retirement funds may be considered quaint and an anachronism. Nonetheless, there…
I’m 44 with $2.2 million in the market and these are the 3 things I want to accomplish with my portfolio
A Redditor has accumulated $2.2 million in his portfolio. That doesn’t include $500k in a 401k, $3 million in residential rental properties, and $750k in cash. He has also saved $500k in each of…
With Inflation Still High, Here Are 4 Things to Do to Protect Yourself
Inflation is still a problem that’s worth keeping tabs on in the new year, especially if new policies (tariffs?) get put into place that could affect pricing on a wide range of goods and…
I’m about to retire with $10 million saved in the bank – is it smart to just live off of dividends and interest for a few years
A Redditor recently posted in the Fat FIRE subreddit to gauge if he’s ready to live off dividends and interest payments. The Redditor has $10.8 million in stocks and treasuries plus $650k in cash.…
I’m 23 and making $60k annually and I’m living at home still to save money – is this the quickest way to jumpstart my retirement nest egg?
A 23-year-old Redditor is wondering if he’s taking the right steps to set himself up for success. The Reddit user explained that he is 23 years old, makes around $60,000, and lives at home…
Cash makes up 25% of my portfolio, why should I bother having a 6040 allocation?
If you were raised in the American financial system, you probably learned that keeping your money in cash, or not investing it, is the worst thing you can do with your money. But is…