When I retired in 2012, I decided to convert my 401(k) into a rollover IRA. Given I no longer have earned income as an early retiree, I can no longer contribute to my company 401(k). For those of you who are transitioning to a new job, rolling over your 401k is a good idea. Even though […]
Should I Convert My 401(k) Into A Rollover IRA? Read More »
At the beginning of 2020, I was excited to start applying for jobs after my six-month paternity leave was over in June. After eight years of unemployment, I had done everything I wanted to do. Now with two kids, rising living expenses, and the possibility of a downturn, finding work would be the responsible thing
Staying Unemployed: Why I’m Giving Up On Going Back To Work Read More »
FIRE is a popular topic. But what about the dark side of FIRE? This post shares some poignant FIRE confessionals to help keep things real. When I started writing about achieving financial independence in 2009, there wasn’t a lot of hoopla. We had people mainly discussing how they were building large enough investment portfolios to
FIRE Confessionals: How A Bear Market Has Impacted The Financial Independence Movement Read More »
The “one more year syndrome” is a debilitating syndrome faced by people who want to retire but keep putting retirement off. Before you know it, the one more year syndrome might turn into five years or even 10 years of still working at the same place. Then you might look back on your life with
Overcoming The “One More Year Syndrome” To Do Something New Read More »
Americans are facing a difficult dilemma during the pandemic. We have to decide between the economy or maybe your life or my life. How long are we willing to purposefully shut down our economy to combat the coronavirus and risk losing even more people due to a great depression? I don’t know the answer, which
The Economy Or Maybe Your Life: How Much Pain Are You Willing To Endure? Read More »
This post will look at the benefits of a backdoor Roth IRA. Long time readers know that I’m one of the biggest naysayers of the Roth IRA. The main reason is: most people will make less in retirement than during their working years. Therefore, taxes should be lower, all things being equal. However, what about
The Benefits Of A Backdoor Roth IRA Read More »
The 401(k) maximum contribution limit for 2025 is $23,500. This is up from $23,000 in 2024 and $22,500 in 2023. For participants ages 50-59 and 64 or older, the additional “catch-up” contribution limit is $7,500. Starting in 2025, if you’re between ages 60 and 63, you can contribute up to $11,250 as a catch-up contribution,
The 401k Maximum Contribution Limit 2025 Read More »
Being frugal is a good habit to adopt if you want to build more wealth. However, it is very hard to frugal your way to early retirement. Instead, it’s much better to try and earn more income since the upside is limitless. You can only save so much! Living A Frugal Retirement Lifestyle Surprisingly, I
It’s Hard To Frugal Your Way To Early Retirement Read More »
Being in the top one percent income level is a big stretch goal for many financial go-getters. After all, only one percent of the working population can earn a top one percent income level. This post will go through the top one percent income levels by age group. In 2025, a top one percent income
The Top One Percent Income Levels By Age Group Read More »
There’s a perpetual debate raging whether one should include their primary home when calculating net worth or not. I think it’s absolutely fine to include your primary residence as part of your net worth. It’s also fine not to include your home as part of your net worth. You should calculate both because there is
Include Primary Home When Calculating Net Worth Or Not Read More »
