Posted March 17, 2008 - 06:13 by Philip Brewer
Personal Finance, Lifestyle
Among the fraction of the population who manage to put money aside, many view their investments through the lens of retirement. They've got a number in mind--call it $X--enough that they never need to work again. Until they've got that, they're stuck working away at the daily grind. There's another way to do it, though. Make your goal to live live on your own terms for the whole length of it, not just for a little while at the end.
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Posted February 20, 2008 - 17:11 by Xin Lu
Personal Finance, Frugal Living, Lifestyle, Investment, Real Estate and Housing
My goal has always been to work for ten years and then have enough financial freedom to do whatever I want to do. Whenever I tell people this they seem to be rather incredulous and sometimes say things like, "sure, you could try." Even though I am quite young, I have met enough people to see what keeps them from quitting their jobs and living a life of financial independence. Read on for a few of my observations.
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Posted January 9, 2008 - 07:23 by Philip Brewer
Personal Finance
Especially for people hoping to retire early, but also those just hoping they can retire at all, there's the question, "How much money do I need?" People who are already retired want to know "How much can I can spend, without running out of money?" Some people refer to the answer to the first question as "The Number." Really, though, these are both the same question.
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Posted January 3, 2008 - 07:00 by Catherine Shaffer
Personal Finance
The trouble started innocently enough. For as long as I can remember, Grandma bought a lottery ticket each and every week. She promised us, her children and grandchildren, that when she won (not if), she would solve all of our financial problems. Grandma was the ultimate giver. She was generous with her time, her love, and especially with food. A child of the Great Depression, she has a love of abundance, and a dread of hunger and deprivation. It is her personal tragedy that these motives led her to total financial ruin late in life, as she willingly handed her life savings, over $100,000, to con artists and thieves.
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Posted October 27, 2007 - 05:34 by Philip Brewer
Personal Finance
The twin advantages of tax deferral and a corporate match make the 401(k) the foundation of most people's savings plan. Putting in enough to get the maximum corporate match is almost always the right choice--a good corporate match is so much money, funding your 401(k) usually even comes ahead of paying off debt. Sometimes, though, it makes sense to put money other places.
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Posted October 3, 2007 - 04:15 by Philip Brewer
Personal Finance, Frugal Living
Halfway through Fred Brock's book Retire on Less Than You Think: The New York Times Guide to Planning Your Financial Future, I was already drafting a review that would call it good but kind of basic for most Wise Bread readers. Then it clued me in to an oddity of federal law that could make the difference between keeping or losing my health insurance. That one bit is not only worth the price of the book, it could easily be worth my entire life savings. Actually writing the review, I realized the book is full of bits like that. I happened to know most of them already, but I've been studying this stuff for years. I have to say this is a must-read book for anyone who hopes to retire before they're 65.
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Posted September 26, 2007 - 15:10 by Nora Dunn
Personal Finance, Budgeting
My introduction to David Bach was when I saw him speak at a financial conference a few years ago. He told an interesting story about a couple who came in for a consultation with him when he first worked in personal finance. They were in their mid 50s, had two children who were fully put through college, had two properties fully paid off, and were ready to retire with over $1 million in savings. The impressive factor was that they had managed to build and sustain this comfortable financial position with a relatively small family income.
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Posted August 3, 2007 - 19:26 by Julie Rains
Personal Finance
Financial advice is everywhere (even here at www.wisebread.com) from the bank teller to a wealth manager who wants to dispense planning advice, manage your investment portfolio, and handle your family’s checkbook. You may not need to talk to someone who will set you up with the bank's proprietary mutual fund but you’d like some personalized financial guidance. Where should you go and who should you ask for advice?
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Posted August 3, 2007 - 07:54 by Myscha Theriault
Personal Finance
Love to shop? Just can’t stop? A slight shift in your paradigm and perspective could lead you out of debt . . . and straight to the bank.
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It might seem like something of a no-brainer to ask for professional investment advice, particularly about retirement. That said, there's still an astonishing number of people I know who don't. They either go it alone, wading through jargon that they don't understand and desperately trying to make numbers that don't mean anything to them mean something, or the guess and hope they get lucky, or they avoid the topic altogether.
Continue reading "Intimidated by Retirement Investing? Get Professional Help!"
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