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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
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How to Set Up a Great Financial Plan for Your Parents’ Retirement Overseas
Retirement is a daunting task but it doesn’t have to be. “If you aim for nothing, you will hit it everytime” – Zip Ziglar. Random quote because it sounds cool. To begin with, there isn’t a right or wrong way to plan for your parents’ retirement; I am merely sharing my approach since I’m super nerdy and like to look at the stats and odds. Since this is Part 2, I suggest that you read Part 1: the Background and hit it with a like since I think it’s an awesome read that breaks out the positives and negatives of retiring in Haiti. Additionally, I also drafted an aux reference guide (checklist) for millennials who…
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How to Double Your Mom’s Retirement Income
Oooh Stats Based on the Bureau of Labor Statistics, as of 2018, the average American household (those north of 65 years old) pulled in $48,000 of retirement income and expensed $46,000. All things considered, that’s not half bad if you are average, you are likely breaking even. The average retirement savings portfolio holds $100,000 (rounded up from $95,000). Under further scrutiny (nerdy words), those households owe at least $66,000 in debt. The majority of that debt falls under their primary mortgage with $9,000 on revolving credit card debt. The Dilemma: 4% Rule for Withdrawing in Retirement Per Investopedia, the 4% rule is a rule of thumb used to determine how much a retiree should withdraw from a…
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Your Parents Want to Retire in The Caribbean, Is The Beach Villa Retirement Dream Attainable?
There are hundreds of wonderful places to retire on a budget, but some are much easier to move to and settle in than others. Before jumping in.
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Setting Up The Ultimate Retirement Hack to Living for FREE
More People Should Build Wealth. It's Easier than You Think. Most Millennials Can and Should Consider Becoming Millionaires.
