When you’re new to working, it’s not unusual to earn a minimal wage. That doesn’t mean you’re earning the minimum wage. Rather, your income may not be much to write home about. But…
In life, we have expenses we need to pay for, and we have expenses we choose to pay for. Food is a definite need, and there’s no getting around that. But within the…
SECURE 2.0 has significant changes that could help strengthen your retirement. Not only does SECURE 2.0 increase the age at which retirees must take required minimum distributions (RMD), but it also makes changes to…
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
