The takeaway: The perfect setup for outliving your money is not knowing where it goes. This post helps you figure out where the money went and provides a juicy look at what others your age are earning and spending. Don’t outlive your money! $$$ Part 3 in the Don’t Outlive Your Money Series. (Updated 1/18/23) … [Read more…]
The takeaway. Out-of-pocket medical bills could be your biggest expense in retirement. Research suggests that over the life of their retirement, a couple can expect to spend an average of $315,000 on such expenses. Below are seven ways to stop the sting, or at least reduce the pain. $$$ Recently, Mr. Boomer-Money-and-More got into a … [Read more…]
The takeaway: When they first hit millionaire status, the median household income of millionaires was $89,167. Their household income is less important than the habits these millionaires built to create financial independence. Here are the habits, and how failure to follow them, resulted in the complete derailment of one famous attorney’s retirement. $$$ This post … [Read more…]
The takeaway: GameStop is a declining company, whose stock enabled one investor to turn $53,000 into $48 million in barely 18 months. The stock’s unlikely investors have driven its share price to new heights, savaged Wall Street hedge funds, and caught the eye of Congress, due to fears their actions are roiling financial markets. It’s … [Read more…]
The takeaway: Protect yourself from sequence of returns risk so it doesn’t wreak havoc with your retirement plans. Sequence of returns risk is the danger that market returns will decimate your nest-egg, just as you finally need that money to live on. If you plan to ever live off your savings, you’ll want to understand … [Read more…]