The right retirement age is different for everyone. Some want to retire as soon as humanly possible, and the FIRE movement has exemplified this. Others enjoy work and can't imagine retiring soon. The ideal retirement age is different for everybody. What's important is knowing when you can retire, and what you'll do with the free time. Have a plan, and know when you can … [Read more...] about What’s the Right Retirement Age?
Retirement
What is a Mega Backdoor Roth?
Shielding your income from taxes is a top priority as you make more money. Taxes are one of the largest wealth destroyers you'll face, and a mega backdoor Roth will help you shield more money tax-free. Mega backdoor Roths allow you to save as much as $37k every year tax-free, so you can imagine how much this adds up over several years. Below is a breakdown of the … [Read more...] about What is a Mega Backdoor Roth?
The Negative Effects of Retirement
The FIRE movement (financial independence, retire early) has inspired many to find ways to retire sooner. People cannot wait to leave their desks at work and travel the world, but they forget to consider the negative effects of retirement. Retiring early could be bad for your health, and could have a negative impact on your social life. By knowing about these risks, you … [Read more...] about The Negative Effects of Retirement
How Anybody Can Achieve Early Retirement
The FIRE movement (financial independence, retire early) has sparked a lot of controversy. Many have written that there's no way to early retirement if you aren't making a six figure salary or come into a huge inheritance. Despite the backlash, the math shows that anybody can retire early. You just need to start as soon as possible, and save at least 20% of your income. Top … [Read more...] about How Anybody Can Achieve Early Retirement
What Are The Average Retirement Savings?
As the economy recovers from the financial crisis, Americans are feeling better about their average retirement savings. How does it compare to each age group? Nest eggs are indeed trending up, but the median American has only $63k in their retirement savings, which is incredibly low if they want to maintain their standard of living. We'll break down the average retirement … [Read more...] about What Are The Average Retirement Savings?