If you want to achieve financial freedom by retirement age or earlier, you are going to have to invest a lot of money. To invest successfully, you will need to spend the time learning how to invest or hand over at least a portion of the responsibility to a professional investment advisor. Choosing an advisor […]
The conversation surrounding the transition to retirement is often limited to its financial aspects. While finances are certainly a big part of the retirement equation, other non-financial considerations should not be neglected. For most, a job is more than just a means to a financial end, but something providing purpose and a sense of belonging […]
The basic building blocks for successful personal finances are creating an adequate emergency fund and consistently saving for retirement. In this week’s article, we look at a rule that allows investing in a Roth IRA account and use it as a part of your emergency funds if needed. As a refresher, you can learn more […]
The Roth IRA/Roth 401k is one of the best ways to accumulate and preserve wealth, but perhaps the least understood. A Roth, funded by after-tax contributions, has many appealing attributes, including tax-free growth and tax/penalty-free withdrawals if over the age of 59½, and the withdrawals are at least five years after your first contribution to […]
The taxman keeps coming… A couple of years ago, congress stealthily changed the law for most owners of retirement plans. Under the old law, if you left your IRA to a person, generally, they were allowed to withdraw the money ‘slowly’ over their life expectancy (popularly called a Stretch IRA). For most people, this meant […]
Even with modern-day family dynamics, the role of a “financial leader” in a household typically still falls on one person. While most leaders in their pre-retiree years rightly focus on accumulating assets and risk management strategies for protection, a new set of challenges are introduced as one crosses the finish line and enters retirement. These […]