During the period of extended travel, I spent everything in my bank accounts. But I didn’t touch my 401k savings (probably under $5,000 at this point thanks to the dotcom bubble), or myChevronandCoca-Colastocks. Temp work while living with my parents allowed me to get back on my f...
I would have preferred to be a first-time dad in my early 30s than at 39 years old. Yes, I wouldn't have been able to spend as much time with him as I do now since I'd be thick into work. But being able to spend a greater percentage of my overall life with him w...
If you are retiring, or leave a job – you can avoid the 10% withdrawal penalty at age 55, you don’t have to wait until, 59-1/2. 9 DrLefty 1 year ago Reply to R Quinn Yes, my pension plan service credit is calculated in months, so retiring on the exact anniversary date is...
I even have a brother in-law that is a very successful sports announcer who at 48yo just asked me what a 401K is…… I think a little bit of what these FIRE people are espousing is needed. Of course, though in moderation. Remember, most of the people reading even this blog are ...
Money buys convenience, but that convenience comes at a price because you have to give your life energy in the form of work to earn it in the first place. Everything is a trade-off. There's no perfect answer. For example, extreme frugality would limit my ability to take my family to...
That’ssix different accounts, each with a specific purpose — all at Fidelity. I also had a rollover IRA atVanguardthat was my crappy 401(k) plan from my previous employer. But it still grew to a healthy six-figure retirement account over 14 years. It was four times larger than my ot...
I will assume that you enter the work force at age 22 after college. All you have to do is work for 18 consecutive years and save 55% of your after tax profits without fail. At age 40, mathematically you have now saved enough to last you 20 more years until age 60. At age 59.5,...
This post tells how to retire on one million dollars or less at age 35 or lower. Simple math proves it's absolutely possible.
Which accounts my money is in (pretax IRA/401k, post-tax IRA/401k, hsa, brokerage, other) Money earned in FIRE Expected social security payout Lump sum contributions (for us we might sell our house at some point and invest it for a number of years before buying something again, if eve...
Or, you can look at it this way, saving money is a bill you pay to yourself. Paying yourself first becomes the first thing you do with each paycheck – you don’t even pay your other bills first. When you turn savings into a budget line item, rather than just putting what’s left...