How to Ensure a Successful Retirement
Getting in the habit of saving and building wealth early in life can be difficult. Surprisingly, transitioning back to a spender in retirement can also be difficult. Even if you have done all the hard work, you must be mentally ready for retirement, not just financially ready. Here are a few boxes to check to […]
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7 Financial New Year’s Resolutions That Are Actually Worth It
Improving your finances is a top New Year’s resolution every year. Last year, 32% of Americans made the goal to spend less and save more. In addition to the typical “spend less and save more” resolution, we think there are several more financial New Year’s resolutions worth considering in 2021. 7. Enjoy yourself Spend some […]
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The Mindset Required to Become a Millionaire
There are specific actions that must be taken to become a millionaire; depending on your age and expected rate of return, you can determine the dollar amount you need to save each month to become a millionaire by a certain age. If you’re older or have a substantial amount already saved, you may already be […]
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How to Save Money on Taxes
Taxes are an unavoidable part of life, but there are ways to lower your tax burden. In 2020, there was a plethora of new legislation and law changes that could change your next tax bill. It’s important to know how those changes affect you and how to optimize your tax strategy. Here are the best […]
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What Is the Safe Withdrawal Rate for FIRE?
For retirees, the withdrawal rate is the amount of money taken out of their portfolio each year for living expenses. Withdrawals may be required, in the case of required minimum distributions (RMDs), or they may be dynamic (if the market is down, it may make sense to withdraw less from your portfolio). A safe withdrawal […]
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How to Buy a New (or Used) Car
Cars are one of the few purchases you’ll make where there is normally an element of bargaining involved to get the best deal. Some car manufacturers, such as Tesla, have eliminated bargaining from the process almost entirely, but if you are buying a new (or used) car, chances are you’ll need to negotiate to score […]
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Are You Ready to Be Wealthy?
Are you ready to be wealthy? That may seem like a silly question; after all, who isn’t ready to be wealthy? To build wealth properly, though, you need to be ready. If you aren’t in the right mindset, or don’t have the proper discipline, you won’t be able to build wealth no matter how “ready” […]
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How to Pay for College
College can be expensive even if you’ve done a good job saving for it. Parents cover about 23% of college costs, and the remainder is the student’s responsibility. Or, in reality, it’s usually up to the parents to help the student figure out how to pay for college. There are many different ways to pay […]
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Timing the Market Is Even Harder Than It Looks
Timing the market and investing (or pulling everything out of the market) at opportune times is an extremely difficult, if not impossible, task to accomplish. Average investors consistently underperform market indices, and even professional fund managers lose to their respective benchmarks most of the time. Average investors and professional fund managers both have a difficult […]
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How to Master Wealth Creation
Building wealth is surprisingly simple, but it isn’t easy. There aren’t really any “secrets” to creating wealth, and if anyone is offering a shortcut or get-rich-quick sounding scheme, they’re probably just trying to make a few bucks. We think there are three basic ingredients needed to create wealth: discipline, money, and time. Let’s jump right […]
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