The median 401(k) retirement balance is low. With such low median 401(k) retirement balances by generation, it may be harder for a large swatch of Americans to retire comfortably. This post interviews various people with low 401(k) balances who explain why their 401(k) balances are so low. You likely won’t be able to live off […]
Explaining Why The Median 401(k) Retirement Balance By Age Is Dangerously Low Read More »
As one of the original modern day FIRE members since 2009, when I started Financial Samurai, I have encountered the FIRE Police on a weekly basis. The frequency of encountering the FIRE Police is almost as often as encountering racist people when I went to high school and college in Virginia. When I graduated from
FIRE Police: Judging The Financial Independence Early Retire Community Read More »
Did you know that having limiting beliefs about wealth and retirement could be crushing your future? It’s time to break out of a negative mindset. To build wealth, you must adopt a positive money mindset. Despite highlighting four examples of people who are able to retire by 40, and providing very clear graphs that are
Stop Your Limiting Beliefs About Wealth And Retirement Read More »
There’s nothing better than being free to do whatever you want. However, unless you’re born with a multi-million dollar trust fund, you’ll unfortunately have to work for your freedom. This article will discuss how you can retire early and never have to work again. You can follow my savings guide to increase your chances of
How To Retire Early And Never Have To Work Again Read More »
There is a new three-legged retirement stool we should all be aware of. But first, let’s review the old three-legged stool for retirement. It consisted of: 1) Pension (Company) 2) Social Security (Government) 3) Personal Savings (You) The Old Three-Legged Retirement Stool Is No More Given less than 15% of Americans have pensions or will
The New Three-Legged Retirement Stool: You, You, And You Read More »
Despite the typical American having less than $150,000 for retirement, the average spending amount in retirement is surprisingly high. According to the Bureau of Labor Statistics data, “older households” – defined as those run by someone 65 and older – spend an average of $45,756 a year, or roughly $3,800 a month. I don’t know
The Average Spending Amount In Retirement Is Surprisingly High Read More »
Being cheap is fine if you’re a broke student. But if you want to build wealth quickly in order to retire early, staying cheap is a suboptimal way to go. To live a rich life, you must adopt an abundance mindset where you believe you can build an unlimited amount of wealth through hard work
Being Cheap Is The Wrong Way To Retire Early 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 »
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 »
It’s been thirteen years since planting my financial independence flag in 2012. I want to share with you some thoughts on how life has been after financial independence. I originally wrote this post eight years after retiring early. Before neutering my day job income, I feared whether I was doing the right thing financially. What I realized
Life After Financial Independence: How Life Changed After Retiring Early Read More »
