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How to Maximize Your 401k Contributions. My 10-year Gains Exceeded $150,000, on Track to Reach Over $1 Million
If you told me back in 2014 that I would be able to reach even $1 million in investments, I would have likely dismissed it. Social media is filled with misinformation about 401ks, the proof is way more impressive.
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Here are the Top Three SECURE 2.0 Act starting 2025
If you are over the age of 40, you will need more than $2.5 million for retirement. The SECURE Act 2.0 aims to help you build more wealth.
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The Main Reasons You Will End Up Broke in Retirement
Having a lot of money in retirement savings is no guarantee it will last the rest of your life. One of the worst things about my job is watching retirees make mistakes in their retirement plans. We recently met with a family that came to us after managing their finances during their lives like most families. They brought this retirement plan to us, and it showed that they had roughly $1.3M at the time of creation. Fortunately, they weren’t doing poorly by any means. They were puzzled because they were great budgeters, so the common culprit—overspending—was not the issue this time. What created such a change in their trajectory? In this article,…
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Millennials will need nearly $190,000 annually to survive 2060
Nothing erodes Wealth faster than Inflation. If the cost is $73k in 2022, it will explode to $190k by 2060. Are you making the adjustments?
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How to Avoid Falling behind Financially in Your 40s
Ever feel like you are falling behind financially? Turns out, most Americans feel the same way. New job applicants are requesting no less than $80,000 per year in entry-level roles. While most families say they need over $230,000 per year to stay afloat. Boomers are entering retirement with fewer savings than anticipated. Genx is stuck in its own sandwich generation with the likelihood of another recession. While millennials are now ages 26 to 41. Life is getting financially complicated. We are all navigating through major life transitions from the global pandemic to global reversion to the mean. All this, on top of getting married (or not), going 50/50 on expenses,…
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80% Pay Little to No Taxes in Retirement. Here’s Why
The ins and outs of tax law will be important to consider at least 5 years before you retire. Gone are the days, when you can feign ignorance about your personal finances. It's better to be active and engage in learning how it works. Even if it's for your own parents and ultimately for you in retirement.
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Subscribe to the Top 5 Retirement Planning YouTubers Now
With record high inflation and recession looming, retirement planning for most Americans is on the back burner yet again. Surprisingly, seventy-eight percent of Americans surveyed stated that they were either “doing OK financially” or “living comfortably” in the quarter of 2021, according to the Fed’s Survey of Household Economics and Decisionmaking (SHED), an annual poll of how U.S. adults are faring economically. In truth, many are struggling to keep up. Both instances can’t be right? Well Q1 2022 pulled the rug from under our feet. The rise of groceries and gas translates to an extra $5,000 of unanticipated expenses with one place to pull from, retirement savings. Either folks will…
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My Life after reaching Financial Independence and Retiring Early
made it this far if it was not for the blood, sweat and effort of everyone that came before me. Because of that, I want to do something special, something unexpected...
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The Black Middle-class and Retiring in a Crisis
The Neighborhood Finance Guy writes about financial literacy topics: Financial Planning, Budgeting, Boomers to Millennial Money Management, Investment Strategies, Retirement tips, and more. The goal is to help you make effective decisions and set S.M.A.R.T goals with your money. The information is free but the struggle is not sold separately. And if you are into this sort of thing; the blog is PLUTUS nominated, I studied Accounting with a Specialization in Taxation, served in the US Marine Corps, and now work as an Auditor. Summary: When White America catches the Flu, Black America catches COVID Research finds that the economic inequality and racial wealth gap continue to grow. Black and…
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You Really Shouldn’t Save For Your Kid’s College
The best way to save for your kid's future is by investing in yourself. A broke parent in retirement is a bigger liability to your family
