A popular retirement myth that won’t die is the idea that one needs at least $1 million dollars to retire comfortably. The $1 million retirement myth probably got started in the 1980s as a generalized retirement goal to motivate the growing middle class of the era. However, a retirement number is not a one-size-fits-all metric […]
Having a place that you can call home is a quintessential part of the American dream. Not everyone, however, can afford to buy a home any time they want, even when the economy is good. Not only do you need to qualify for a mortgage. You also have to make a considerable down payment in […]
The high cost of living in the United States has many retirees looking to move abroad. But retiring abroad has its challenges. Retirees have to learn new languages, adjust to new cultures and environs, and financially adapt to new currencies. However, there are three countries where American retirees are welcomed, English is spoken, and the […]
Retirement savings across the United States is largely invested in 401(k) plan. That’s because contributions that you may make to a 401(k) bring down your taxable income today. However, it is important to remember that when you make withdrawals from your 401(k) after retirement your distributions will be subject to income tax. Instead of putting […]
An early retirement gives you an excellent opportunity to pursue your passion by starting your own business. Now that you are no longer bogged down by the daily grind. You can afford to take risks, set your own terms, and do something that excites you. The profits from your business can supplement your retirement savings […]
Are you interested in living day-to-day, paying off your debt, or realizing an ambitious financial goal? Then how efficient and realistic are your personal finance habits? An unforeseen financial emergency could put you in a debt quagmire or make a future financial goal impossible. Here are four money hacks you must adopt now. Start a […]
Globally, 70% of people work from home at least once every week. Telecommuting has become the new standard for business. More than 43% of Americans telecommute once, occasionally, or regularly. Some people may assume telemarketers are just freelancers blindly developing their skills at home until they become professionals. Nevertheless, many traditional, high-paying office jobs can […]
We have all experienced the emotional toll of divorce, whether actually going through it or having undergone the ordeal through family or friends’ experiences. In addition to the emotional situation, there is a financial cost that has to be considered. The first thing that any financial advisor will tell you is to create a budget. […]
Is retirement feeling like a distant dream, unaffordable and unrealistic? Perhaps there is a better way. In his book The 4-Hour Workweek, Tim Ferriss coined the term “mini-retirement” to describe another approach to retirement. The idea being that instead of taking one final retirement at the end of life, you take a series of meaningful intermissions […]
The 30-year fixed rate mortgage remains the common choice of a vast majority of people in the country. The reason is obvious, as it is the most affordable loan in terms of monthly payments available on the market today. The problem with a 30-year mortgage, however, is that while the monthly payments are lower, you […]
