The following is a guest post from a 25-year-old Financial Samurai reader who lives in Washington, DC, makes $55,000 a year and maxes out his 401(k). He believes maxing out your 401(k) is a choice on an average income. For those of you who feel like you can’t max out your 401(k), maybe this post […]
Maxing Out Your 401(k) Is A Choice On An Average Income: $55K In DC Read More »
Are you thinking about retiring in Mexico? It’s a beautiful, affordable country with a rich history and warm culture. First of all, when you think of Mexico what comes into your mind? I think of hot summers, tequila, mouth watering salsa, and friendly people to name a few. Retiring In Mexico? Exploring Baja California Sur
Retiring In Mexico Or Abroad Might Not Be A Bad Idea Read More »
According to Fidelity, as of end-2023, the latest average 401(k) account balance is $106,500. Fidelity holds 16.2 million 401(k) accounts, including my Solo 401(k). Fidelity is consistently ranked as one of the largest 401(k) providers in the country. The latest 401(k) balance by age naturally increases the older one gets. The median 401(k) account balance,
Latest 401(k) Balance By Age Versus Recommended Amount For A Comfortable Retirement Read More »
“How much do I need to retire?” is a question that comes up over and over again. So once and for all, let me suggest a simple, very logical and conservative method. I hope you can utilize my method to estimate how much you need to retire. Having specific retirement goals is a key to achieving success and
How Much You Need To Retire And Never Have To Worry Again Read More »
Are your spending habits out of control? You’re not alone. We are constantly tempted to spend money and splurge on things we don’t need. Clever marketing tactics, FOMO, the YOLO economy, and the desire for more have become a common part of daily life. But it doesn’t have to stay that way. If you care
Control The Urge To Splurge: How To Save More Money Read More »
In 2019, Personal Capital, launched a new high-yield savings account with aggregated FDIC insurance that covers balances up to $2 million. They called this Personal Capital Cash. Empower Retirement then acquired Personal Capital in 2020. Now in 2023, Personal Capital Cash is renamed Empower Personal Cash with all the same great features. The Empower Personal
As one of the pioneers of the FIRE movement in 2009, unfortunately, $5 million is barely enough to retire early with a family in a large city. It might sound ridiculous to you. But I assure you that thanks to inflation, retiring early is now tougher than ever before. Not only do you need to
Why $5 Million Is Barely Enough To Retire Early With A Family Read More »
The following is a guest post on money thoughts from David, a Financial Samurai reader and ex-government bond strategist in his 60s. David shares his money thoughts from a boomer retiree’s perspective with cancer. We had a fantastic exchange over e-mail and I invited David to share his wisdom about money. After all, the best
Life Goes By Quick: Money Thoughts From A Boomer Retiree With Cancer Read More »
One of the biggest peculiarities for hard working folks who want to achieve financial freedom is that we often don’t know when to stop grinding. In other words, when is it OK to forsake Stealth Wealth and start spending more on a better life? After all, you don’t want to die with too much money. Even
When Is It OK To Forsake Stealth Wealth And Spend Up? Read More »
Achieving financial freedom is the ultimate goal in personal finance land. Once you achieve financial freedom you can do anything you want, whenever you want. You can also say anything you want without fear of getting fired. In 2009, when I launched Financial Samurai, I helped kickstart the modern-day FIRE movement of retiring early and
Achieving Financial Freedom One Income Slice At A Time Read More »
