“Easier Than You Expect”: How An Ordinary Person With A Modest Salary Can Become A 401(k) Millionaire

2019-07-14 15_32_48-Bench, human, person and people _ HD photo by Ihor Malytskyi (@ihor_malytskyi) oThirty-four percent of workers who have calculated how much they need to save for retirement concluded their magic retirement number is $1 million – and the author of today’s article has some encouraging words for those striving to amass $1 million for retirement on modest salaries: “building your nest egg to that size can be easier than you expect…All you have to do is follow some simple steps.” For more on what characterizes ordinary people with typical paychecks who become 401(k) millionaires, CLICK HERE.

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De-Mything Your Retirement Accounts

2019-06-25 21_26_03-May 2018 _ HD photo by Charles 🇵🇭 (@charlesdeluvio) on Unsplash“Sell in May and go away”. “The January effect”. The “Santa Claus rally”. “Financial hurricane season”. When it comes to whether these seasonal investing adages work, the author of today’s article argues that they work “just often enough to sustain their myths” – and just often enough to negatively impact your retirement savings if you make investment decisions based on them. For more, CLICK HERE.

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The Reality About Real Estate And Retirement Riches

2019-06-15 09_12_26-Person Giving Keys on Man · Free Stock Photo“Owning a home is wonderful, but don’t bank on real estate as your chief retirement investment,” advises the author of today’s article, which looks at the reality when it comes to looking to real estate as a source of retirement riches. What’s the problem with banking on homes for retirement income – especially given the fact that many people have seen big gains from buying starter homes? For more, CLICK HERE.

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Investment Practices Of The “Navy SEALs” Of Retirement Savers

2019-05-26 20_59_32-Pears _ HD photo by Shumilov Ludmila (@lsfineartphotography) on UnsplashThe author of today’s article likens them to an “elite Navy SEALs team of retirement savers”: those with $1 million or more in their 401(k). And after membership in this elite group decreased in the final months of last year as volatility in the stock market took its toll, the number of 401(k) millionaires ticked back up in the first quarter of this year. So what does it take to become a 401(k) millionaire? The author lays it out, noting that “even if you never join this elite group, the boot camp-like discipline its members practice can still leave you in better shape for retirement.” For more, CLICK HERE.

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Stepping Your Way To A Successful Financial Life

2019-04-05 08_49_50-Pinterest dashboard for businesses. _ HD photo by Fancycrave (@fancycrave) on UnWhen it comes to credit scores, buying cars (and buying homes), 401(k)s (and Roth 401(k)s), savings accounts, life insurance (and auto and homeowners and long-term care insurance), wills and beneficiaries (and powers of attorney), Social Security and more, the author of today’s article poses the following question: “What does a good financial life look like?” For his 45-step roadmap to achieving one, covering all of the above and more, CLICK HERE.

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How To Avoid Having Your Retirement Devastated By The “Tax Time Bomb”

2019-03-30 21_11_49-Eventually everything hits the bottom... _ HD photo by Aron Visuals (@aronvisualIt’s an unwelcome surprise for many retirees: having to pay more taxes in retirement than when they were working. In fact, one financial security expert cited in today’s article warns that “tax-deferred retirement accounts such as a 401(k), IRA, or 403(b) can be like sitting on a tax time bomb”. What are the two main reasons Americans are paying higher taxes in retirement than when they were working, why is the tax burden on retirees likely to only worsen from here, and what’s one strategy that can help avoid the tax time bomb? CLICK HERE.

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How Contributing “Too Much Too Soon” Can Hurt Your Retirement Savings

2019-02-15 21_49_01-Money Styled Stock Photo photo by Katie Harp - Pinterest Manager (@kharp) on Uns“Save as much as possible as early as possible” is a generally accepted principle of retirement saving – and widely viewed as the most important principle. There are, however, exceptions – and today’s article details how “contributing too much to your 401(k) or similar retirement plan too early in the year may be hazardous to your retirement-savings health” and cause you to lose out on free money. For more – including how proper planning can help you avoid becoming a victim of the “too-much-too-soon trap”, CLICK HERE.

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The Top Reason Retirement Withdrawal Strategies Fail – And How You Could Get Screwed Twice

2019-01-10 22_36_27-Amazing Fail Photos · Pexels · Free Stock PhotosWhen it comes to the top three reasons that retirement withdrawal strategies fail, the author of today’s article sees them as (1) sequence of return risk, (2) sequence of return risk and (3) sequence of return risk. How might sequence of return risk be a greater problem for retirement withdrawal strategies than even low average returns, how can you “get screwed twice” by sequence of return risk if you’re especially unlucky, and what are some ways to alleviate sequence of return risk? CLICK HERE.

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What “Persistently Low Returns” Would Mean For Retirement Strategizing

2019-01-06 20_37_53-Low-angle Photography of Grey and Black Tunnel Overlooking White Cloudy and BlueHalf a percentage point. That is what one assessment suggests to expect return-wise from a balanced U.S. stock and bond portfolio over the next 10 years (before fees and taxes!). So what would the effects of an era of “persistently low returns” be on retirement strategizing? Today’s article examines the implications for 401(k)s, annuities, Social Security, medical care, alternative investments and more. CLICK HERE.

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