One of my ongoing challenges as a writer is explaining financial concepts in an easy-to-understand manner. With ann MBA from Berkeley and 13 years in banking at Goldman Sachs and Credit Suisse, financial concepts come naturally to me. Despite writing over 2,500 personal finance articles since 2009 on Financial Samurai, however, some concepts still get […]
Navigating Retirement: Dynamic Safe Withdrawal Rates In Action Read More »
If someone informed you that, as of January 2024, you could invest in a financial product offering a fixed, guaranteed return of nearly 6% for up to 10 years, would you consider it? If your answer is yes, continue reading about the Multi-Year Guaranteed Annuity, or MYG Annuity for short. Due to current financial conditions,
The Multi-Year Guaranteed (MYG) Annuity For Retirement Read More »
Want to save more for retirement? Good. People are not saving enough while working, which will hurt them when they are old. The key to saving more for retirement is properly forecasting your future. By the time you’re old, tired, and unmotivated, you want to have saved up enough passive income to cover your living
How To Save More For Retirement If You Don’t Make Much Money Read More »
It’s hard enough to retire early, say before age 45. However, I’ve discovered it may be even harder to stay retired once you retire early! As I was going through my archives, I realized I had a master plan to re-retire by September 1, 2022, several months after my 45th birthday. Given the birth of
Why It’s So Hard To Stay Retired Once You Retire Early Read More »
The 60-day rollover rule enables you to borrow money from your retirement plans tax- and penalty-free. You can utilize the rule once a year. However, in general, I don’t think it’s wise to borrow from your retirement plans. If you do, you may get into the habit of robbing your retirement future. You may also
The 60-Day Rollover Rule To Borrow From Your Retirement Plans Read More »
The SECURE 2.0 Act passed in 2022 and became law in 2023 and beyond. The legislation provides a series of benefits to help strengthen the American retirement system and encourage more Americans to save for retirement. There is a massive difference between what Americans think they need in retirement versus what they’ve actually saved in
SECURE Act 2.0 Retirement Benefits: A Complete Review Read More »
I wrote about the various paradoxes of wealth based on a Charles Schwab Modern Wealth Survey. In this article, I want to highlight another wealth paradox based on the amount people expect they need in retirement versus how much they actually have. According to this new data, I’m convinced Americans really don’t know how much
How Much People Want In Retirement Vs. How Much They Actually Have Read More »
After doing a deep dive on the different ways to pay for college and how to get good financial aid, I realized the best thing for my family is for me to go back to work. Coming up with $1,500,000 for two kids’ college experience in 12-15 years is daunting. Going back to work feels
Sadly Giving Up On Retirement And Going Back To Work Read More »
About 25% of American households own Roth IRA accounts as of 2024. It’s important to know you cannot withdraw from a 401(k) or traditional IRA penalty free before the age of 59.5. This is why it’s prudent to contribute to a Roth IRA with post-tax dollars if your company offers one. The catch is your
The Benefits Of A Roth IRA For Retirement Planning Read More »
The tax-now Roth IRA will increase in popularity over the coming years. Let me explain why. When Congress passed the Tax Cut and Jobs Act (TJCA) of 2017, it inaugurated an eight-year period of the lowest tax rates in American history, which started on January 1, 2018. However, due to the sunset clause that was
Shifting Retirement Assets From Tax-Deferred To Tax-Now By 2026 Read More »
