When it comes to retirement versus financial independence, the author of today’s article sees “both as interchangeable, because in essence, in both cases folks are having the financial flexibility to live life to their own terms, not being chained to a desk or a job they may dislike. In both situations, you have the option to leave one endeavor and focus on another one.” He proceeds to outline the three “main ingredients that allow you to reach financial independence” and the specific investing technique he has chosen to employ in his pursuit of financial independence: dividend growth investing. For more, CLICK HERE.
It’s an important decision with potentially major consequences: how much do you take out of your portfolio each year when you retire. Take out too much and you risk running out of money down the line; take out too little and you are foregoing a better retirement lifestyle and experiences. In today’s article, the author runs some hypothetical numbers illustrating the potential impact of this tradeoff – and outlines some options for dealing with it. For more, CLICK HERE.
A critical part of retirement planning is figuring out how much you will need to have accumulated to fund your golden years – and one common approach to calculating this figure is to use a multiple of your ending salary. Fidelity, for example, recommends retirement savers have 10 times their ending salary saved by age 67. And while different entities have put forth different numbers, one global professional services firm put forward a jaw-dropping finding in its recent report on the matter. Does the average retiree actually need 16.4 times their ending salary to fully fund their retirement? CLICK HERE.