Financial security gives you the peace of mind and a sense of reassurance that yours and your family’s present and future needs are taken care of. If you want to be financially secure, it’s best to start saving money as early as you can and as often as you can. Moreover, the bigger question is […]
Just about anyone can become a millionaire by 50. Sustainable financial independence is the dream of virtually every ambitious person, of course. Some make it, some don’t. The truth is that it is entirely possible to become a millionaire by 50, if you are disciplined, tenacious, and willing to take the right steps at the […]
Most investors have heard of mutual funds and exchange-traded funds. The lesser-known cousin is the closed-end fund (CEF). CEFs are actively managed by a fund manager as the main difference from ETFs. The main drawback is that fees are generally higher for CEFs over ETFs. But the major advantage is that there is a higher […]
Choosing the right retirement location is a vital decision that can significantly impact your quality of life during your golden years. Whether you want to move to a new place, new city, or a new state altogether, you need to make sure you choose a location where you can live the best phase of your […]
If you are approaching retirement, you might be concerned about handing over a significant portion of your income to the taxman. Depending on where you live, the combination of federal and state taxes can take a big chunk out of your retirement income, leaving you with precious little to meet your day-to-day expenses. We have […]
The question of whether to keep an old credit card open or close it can be a bit of a conundrum. Your credit history is a vital component of your financial health, and the decisions you make regarding your credit cards can have a significant impact on your credit score and overall financial well-being. Let’s […]
As you approach retirement age, it’s important to think about how you’ll fund your retirement. One popular option for retirement savings is an individual retirement account (IRA). In this blog, we’ll explain why you need an IRA for retirement and the benefits of having one. First, let’s define what an IRA is. An individual retirement […]
Many baby boomers are not yet ready to retire. Enter phased retirement, the concept of quitting work in stages. Contrary to popular belief, the retirement process can be extremely stressful, depressing and frustrating. One has to go suddenly from a lifetime of work to having a lot of free time. For many, too, a job […]
A recent Federal Reserve study found that 40% of Americans cannot pay an unexpected expense of just $400. And while six months of spending as an emergency fund is the gold standard, having just $2,500 in the bank can make a huge difference to most people. One problem with personal finance is that most people […]
As a retiree, it’s integral for you to know whether your retirement income will be taxed, how much of it will be taxed, and at what rate, so that you can create a budget accordingly and live within your means. In this post, let us take a look at six types of retirement income that […]
