An interesting development over the last several years has been the Financial Independence/Retire Early (FIRE) movement. Financial independence is defined as having sufficient passive income and/or sufficient investments to cover your living expenses. The turning point is when you have saved enough or reduced your expenses enough to achieve “financial independence”. Once you have reached […]
Millions of workers today are banking on Social Security to pay their bills in retirement. But while those benefits will provide a nice chunk of income, they won’t be enough to sustain future retirees by themselves. So, working adults today must take saving matters into their own hands by socking away funds in whatever retirement […]
Today, TransferWise is trusted by millions of customers worldwide, with the likes of Richard Branson and Peter Thiel having invested in its vision. Rewind 10 years or so however, and the picture was a lot different. In 2008, Kristo Kaarmann — who’s now TransferWise’s CEO — was working as a management consultant in London and […]
In today’s relatively healthy job market, many companies are struggling to retain their top employees. For some workers, leaving a job boils down to getting a better opportunity or perhaps more money elsewhere. But for others, it’s a matter of personal dissatisfaction with their current employers. If you want to hang onto your most valued players […]
You’ve got this. In the next three months, a handful of simple strategies can net you a cool $1,000. Everyone talks about lattes, as if high-end espresso drinks are responsible for all your financial woes. In fact, there are so many small ways to derail your finances, and lattes only come in for the loudest […]
After seven years of working in the corporate world, one New York City-based millennial saved up $2.25 million, which was enough for her to quit her job and settle down at age 28. She goes by the pen name J.P. Livingston on her blog The Money Habit, where she discusses her journey to financial independence […]
Precision isn’t always possible when it comes to retirement planning. That doesn’t mean you have to wing it and hope your savings don’t expire before you do. Looking at the income, living expenses and life spans of today’s retirees can help you make the right financial moves so your golden years aren’t tarnished by an […]
If your goal this year is to snag a raise or land a promotion, you’re probably aware that there are certain steps you can take to improve your odds. Maybe you’ll volunteer for some new projects, or take a course that boosts your skills. Or maybe you’ll be that person to consistently burn the midnight […]
Most people believe that you have to be earning income to contribute to a retirement account, and that’s true if you’re single. But a loophole for married couples allows both individuals to save for retirement, even if only one is working. It’s called a spousal IRA, and it can boost your retirement savings and can […]
Your New Year’s resolution is to get serious about saving for retirement in my 401(k). Here’s some advice. Review your 401(k) elections to make sure you’re making the most of your plan. For example, contribution limits for 401(k)s increased by $500 this year. So if you’ve set up your contributions for a fixed-dollar sum, don’t […]
Homeownership has long been synonymous with the American Dream, and while it does have its drawbacks, there are plenty of benefits to owning a home. First, you get to build equity in a place of your own, as opposed to throwing money away on rent. You also get an opportunity to capitalize on certain tax […]
For the first time in two years, Americans’ satisfaction with their personal finances appears to have worsened. And stock market volatility is the likely culprit. In the fourth quarter of 2018, the average American’s personal-financial satisfaction fell off an all-time high, a report released Thursday by the American Institute of CPAs found. For five straight quarters before […]
