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 »
As more people look to retire early, more people are looking for shortcuts in order to reach early retirement quicker. Some hate their jobs so much they are willing to retire early and live in poverty! Instead of retiring early to live in poverty or near poverty, wouldn’t it be better to find a different
The Amount Of Money Needed To Retire Early And Live In Poverty Read More »
I’ve finally discovered the best reason to retire early. A longer steady-state period of happiness. It has taken me 10 years of fake retirement to come up with this epiphany because I had to experience the process myself. In the past, I’ve written that early retirement isn’t all sunshine and rainbows. I went through plenty
The Best Reason To Retire Early: Years Of Greater Happiness Read More »
In 2022, my wife and I paid off our vacation property mortgage after 15 years of ownership. Now that it’s been a while since we paid off the mortgage, I realized there is a triple benefit to paying it off early. I didn’t realize one of these benefits when we paid off another rental property
The Triple Benefit Of Paying Off Your Mortgage Early Read More »
Contrary to popular belief, the ideal retirement age isn’t as soon as possible. Retire too soon and you may feel empty for never living up to your true work potential. Retire too late and you might always be left wondering what could have been if you had changed course sooner. For example, a 35-year-old couple
The Ideal Retirement Age To Minimize Regret And Maximize Happiness Read More »
In February 2012, I decided to negotiate a severance to break free from corporate life. By mid-June 2012, I had received a severance check and the last of my three months of WARN Act pay. More than thirteen years of fake retirement later, I want to share with you some of my biggest takeaways. Overall,
10+ Years Of Fake Retirement Later: The Most Important Takeaways Read More »
