Category Archives: Retirement

What Does My Retirement Plan Look Like?

What Does My Retirement Plan Look Like?

I figured it was time to share what my retirement plan looks like. Since I am still in my 20s, much of this is still a plan. Some of it is happening right now, and some of it is in the works. While I typically hold some information back for privacy reasons, this is one of those posts where my readers will get full disclosure. How’s that for entertaining?Continue Reading

Young Adult Retirement Planning – Benefits of Saving a Lot Early

Young Adult Retirement Planning – Benefits of Saving a Lot Early

Retirement planning isn’t just for old people – or even middle aged people. People in their 20s and more generally, young adults, can start saving for retirement too. In fact, young adults can make a larger impact on their retirement income than anyone else can – and that’s because they have one major advantage that older people don’t have: time. By having more time for your investments to increase and earn more interest, young adults can either make or break their retirement plans based on whether they save or don’t save.Continue Reading

Rolling Over Your Retirement Plan

Rolling Over Your Retirement Plan

Our generation is nothing like our parents. Our parents generation would find a job, stay with the employer for life, get a gold watch upon retirement and be done with it. I’ve seen this too: my Dad worked for the same company for over 40 years. I’m in my mid-30′s and I’ve already worked for three employers since graduating college!Continue Reading

Three Simple and Proven Methods to Save ENOUGH for Retirement

Three Simple and Proven Methods to Save ENOUGH for Retirement

Young adults struggle with retirement planning – as they should. For a recent college graduate, there way too many variables to accurately predict their retirement costs. Some people attempt to simplify the calculations by saying to use a percentage of your income, but we all know that doesn’t work (and if you don’t click on that link to learn more). Others use other rules of thumb like having 25 times your current expenses in savings (which is the same as the 4% safe withdrawal rate). While these are great starting points, they don’t cover everything. I have several proven patterns that you can follow (assuming you are financially able) to make sure you are saving enough.Continue Reading

Can Life Insurance Be Part of a Retirement Plan?

Can Life Insurance Be Part of a Retirement Plan?

I’m only 26 years young, but that doesn’t excuse me from planning for my retirement. As I have shared my simple retirement plan before, many of you know that I am taking action right now in a few ways: wife’s 403(b), two Roth IRAs, and real estate. There’s nothing unusual about my retirement plan – other than the fact that I am ahead of the curve. But, there is one element of my retirement plan that I don’t talk about very often.Continue Reading

Do You Know Where Your Money Is?

Do You Know Where Your Money Is?

How many jobs have you held since you turned 20? Did you know that the average number of jobs held by a person in their 20’s is seven? I was shocked when I saw that figure. In many cases, these people opened up a 401k plan while at their job and then left it with their old employer when they started a new job. If this includes you, you have some options. Here are your four options with dealing with your old 401k plan.Continue Reading

Retirement Moves to Make in Your 20s

Retirement Moves to Make in Your 20s

A recent trend from my informal surveys is that many young adults are not preparing for retirement, despite the huge advantage that young adults have. There are a number of different reasons for this inaction, including: not earning enough income, too much debt, not understanding the benefits, AND…not knowing HOW to prepare for retirement.Continue Reading

How to Retire With Rental Properties

How to Retire With Rental Properties

One of the most basic retirement rules that you should learn is diversification. Every investment portfolio should be properly diversified to protect yourself from losing it all. As I continue to fine-tune my retirement plan, I continue to obsess over the power of real estate investing. While I would never be stupid enough to limit my retirement income with just one source of revenue, I thought it would be fun to figure out how one could retire with just rental properties – and to do so with realistic numbers.Continue Reading

Investing 101: Avoid Fees like the Plague

Investing 101: Avoid Fees like the Plague

Just recently I started to take an honest look at our investment portfolio. As anyone would expect from a couple who has only been investing for three years, it’s still very small. But, I figured it was time to evaluate where our money is housed, what type of return we are getting, and how much we are paying to put our money where it is. In doing so, I realized one important thing: we’re paying WAY TOO much for the type of funds that we are using.Continue Reading

Why You Should NOT Calculate Retirement Income off based on Income

Why You Should NOT Calculate Retirement Income off based on Income

Last Monday I wrote a post in response to the TRowe Price article about retirement planning, talking about the approach that one should take when saving for retirement. This is something that I’ve talked about numerous times, but the basic principle is simple: Don’t ask yourself “How little do I need to save in order to scrape by in retirement?”, but instead, “How much can I possibly save?” See the difference? Now, I’m addressing another related issue.Continue Reading