At age 60, if our 401k was heavy on stocks (assumed 7%+ real CAGR), and we had an arbitrary goal of never paying tax at a rate higher than 10%, we might struggle to meet that goal if our 401k value was greater than $600k. (Or $1400k at 12%, or $2600k at 22%.) Example...
JetBlue pilots areworried about the future of their wages. Earlier this year they wereoffering to pay pilots not to fly. Now aviation watchdogJonNYCreports that they will be paying pilots to retire early. He calls them ‘credible rumors’ which I take to say he is confident that this is ...
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and the insurance company pays you a set amount every month for the rest of your life. This ensures you'll never run out of money, and so can be a useful part of retirement planning for many people, particularly those who have barely “enough” ...
Whether you decide to retire in your 60s or in your 30s, I'm here to say the fear of running out of money in retirement is overblown. The media, money managers, and government officials, most of whom are still working, have fear-mongered the general population long enough! They want ...
How can it possibly be worth all the sacrifices to live the city life in such conditions? I thought only in Honk Kong people were crazy enough to rent 90sqft coffin sized “living” quarters. It’s not so bad, I hear you say because: ...
Whenever you want to know something the first place you stop is Google, right? So I typed “the first million is the hardest” into the top search engine and got the following as the first three results: Article #1:The psychological reasons why earning your first million is the hardest ...
One has to move on if you want to make those dreams a reality. Money, money, money isn’t funny, it isn’t a rich mans world. You see the way I look at it, it really isn’t a rich mans world. Cause money isn’t everything. It’s your attitude that determines your success. ...
This piece is part of a series I'm calling Money 101 and is designed for those who might not be as advanced in their personal finance knowledge and experience. Many Americans believe that there is some great secret to becoming wealthy. They think it requ
The higher the retirement savings by state, perhaps the more attractive the state is to retire in. After all, the states with the highest retirement savings must be doing something right! Folks know I'm biased towards West Coast living due to the weather, diversity, food, culture, and ...