A good friend (and neighbor) and I have been talking about our retirement strategies and plans for years. It usually consists of us standing around in the street in front of our houses comparing approaches and percentages in various accounts. Don has been a great saver for much of his life. Both he and his wife have worked during their marriage and I have found
I took a quick look at the CNN net worth calculator and pulled out some examples of the median net worth of various ages. I’ll list the averages for a couple different scenarios but you can certainly go use the tool and see how your specific numbers stack up. I’m going to use some pretty standard age ranges for this comparison. Under 25, 25-34, 35-44,
CNNMoney has an article up right now where a reader asks Walter Updegrave whether he’s saving enough to amass $2 million by retirement. The guy is a savings machine putting away $4000 a month and I wonder if he really wants to know the answer or whether he is showboating just a bit. I mean, if you’re saving that kind of money, I’m guessing you
I was thinking this year would be a pretty insignificant raise because of the economy and the general state of things. I’ve been working hard at work so I figured I’d get something but was absolutely blown away to find out I got over a 9% bump. Needless to say, I was thrilled. We won’t be spending the additional income since we really have everything
I love this time of year. We are just about through the worst of winter (which means spring and summer are on the way) and it’s bonus and raise time at work. On top of that, it’s tax time which usually means we get some sort of tax refund as well. This year it’s looking like I’ll be getting somewhere around a 6% raise. I
“A good financial advisor takes your money and his experience and turns it into his money and your experience†I’ll stick with my boring index funds and self managed 401K, thanks.
You can feel the excitement in the air. The Mega millions lottery is up to $330 million and people are buying tickets like crazy. If you win, you would receive upwards of $200 million after taxes. That’s a lot of cash. If you generated just 3% interest off of that $200 million you’d make over $500,000 a month in interest (before taxes). HOLY SMOKES. What
I wonder if this is a sign of things to come for public pensioners around the country. Prichard Alabama quit paying out benefits to all of it’s retirees in 2009 against state law. So far, no one has forced the city to start paying benefits again but there are lawsuits. Unfortunately a number of people have died since the benefits stopped, including the retired fire
I love reading articles like this partly because it gives me a window in to someone else’s finances but also because they often have good ideas that people can use RIGHT NOW to save money. In this article, Elisabeth Leamy helps the Gunn family from Oswego NY save over $58,000 (over time) by implementing simple changes to their spending patterns. Some of the top tips:
Stacy Rapacon at Kiplinger put up a post about the realities that many of us Generation X and Y folks face in retirement. The younger you are, the more harsh the reality. In my case, being born in 1971, I know my Social Security benefits will most likely be reduced and delayed compared to what I have been expecting in the past. So far, I’m
