Learn how to make your money work for you, instead of the other way around.
The short answer is no. It is never too late to start investing, particularly if you have access to a defined contribution plan – such as a 401(k), a 403(b) or the Thrift Savings Plan (TSP) – through your employer. These types of plans offer at least one distinct benefit and one potential benefit. First, …
During the course of previous discussions, we have identified three general stages in an individual’s investment life-cycle: building a fiscal foundation (conducted during your 20s and 30s), accumulating wealth (occurring between the early 40s and mid-50s), and pre-retirement, the five-year period prior to your desired retirement age. During the pre-retirement stage, debt is eliminated and a plan – considering the …
In the past, I have asked the question, “Is college worth it?” Not surprisingly, since so many people struggle with student loans, the question generated quite a bit of discussion with a wide variety of opinions. Interestingly, a new report from PayScale, creator of the largest database of individual compensation profiles in the world containing more than …
In a recent blog post, It’s (Mostly) About Priorities, I noted that after two years of running this blog and three books I had changed my belief with respect to why too many people never achieve financial freedom. Whereas I formerly believed the problem was a lack of interest, I have modified that belief, slightly, and …
In days of yore, many Americans typically relied on a defined benefit plan (commonly referred to as simply a pension) as the anchor of their retirement income. A quick refresher, defined benefit plans promise a specified monthly benefit at retirement. Defined Benefit Plans The defined benefit plan may state this promised benefit as an exact …
During the course of previous discussions, we have identified three general stages in an individual’s investment lifecycle: building a fiscal foundation (conducted during your 20s and 30s), accumulating wealth (occurring between the early 40s and mid-50s), and pre-retirement, the five-year period prior to your desired retirement age. During the pre-retirement stage, debt is eliminated and a plan – considering the …
Regular readers of this blog know that I have every intention of retiring at 60. I am focused like a laser on that target age. However, what if the economic environment and/or my financial fortunes change as I close in on 60? A recent Gallup poll indicates that in the aftermath of the 2008 the financial crisis, …
Earlier today, the U.S. Treasury announced new rules which will permit employees to purchase longevity annuities – with guaranteed lifetime payouts – in their 401(k) and IRA plans. Apparently the US treasury and Department of Labor have been working on this new option since 2010 when they issued a request for information on how 401(k)s …
In the recent SavvyInterview with Brian, he mentioned planning to add Real Estate Investment Trusts (REITs) to his investment portfolio. That mention served as the impetus for this post. I have previously noted my belief that the primary home should be viewed as a place to live, enjoy friends and family and not viewed as an …
Many of you may remember the SavvyInterview I conducted with Mr. Andy Rutter. I recently received a personal letter from Mr. Rutter in which he continued to share sage advice. He started the letter with a little Shakespeare in noting Polonius’ advice to his son Laertes, “Neither a borrower nor a lender be, For loan oft loses both itself …
