I’m going to make a bold statement here: early retirement is the same as conventional retirement. You may be rolling your eyes, thinking, “But Greg, if it’s the same, why aren’t more people retiring early?” Because the one factor that makes the difference between retiring early and at the typical retirement age is time. People are worried they won’t have enough money to say sayonara to their jobs at age 67, let alone 55. But the truth is that the same strategies that set you up for … [Read more...]
Are You Saving Enough Money To Retire On Time?
When do you want to retire? Maybe a “soft-retirement” into part-time consulting at 50? Or a more traditional 65, or maybe even 70-ish if you love your work. My guess is that you already have a retirement bucket list and are dreaming about reaching this milestone. But a dream isn’t going to get you anywhere in the real world if you don’t put some muscle behind it. Have you crunched the numbers and figured out how much you need to save to retire when you want to? (*hint: Try our simple tool … [Read more...]
Is Your Financial House in Order?
Doesn’t it feel like just yesterday we were young and carefree? Our biggest worries were our social life and our final exam schedule. You blink. Now you’ve got a house. A mortgage. A demanding job. Your once clean and organized house is now overcrowded with large plastic toys. You worry about saving for college. Free time is non-existent these days. We grew up. And our responsibilities grew up, too. Don’t let yourself be late to the game and say “Wha' happened?!” Be proactive. Let’s … [Read more...]
12 Signs Your Money and Finances Are On Track
How are your finances? No, really, where are you at with your money? Okay, I know this may not be a dinner party conversation topic, but it’s definitely worth a discussion. When life gets crazy (like it always does), your financial future tends to slip down the priority list. How can you make sure you are on track to build wealth and hit each and every financial goal? Instead of comparing your financial situation to your friends or living under a box pretending everything will turn out … [Read more...]
Your 2016 Smart Money Plan for Your 40s: 12 Tips to Get You on the Right Track
Ah, the New Year! A chance to reaffirm our commitment to do all the shit we should have done in our thirties, or should have been doing all along. Unfortunately, resolutions related to finances are right up there with promises we make to ourselves about swearing off Cheetos or finally signing up for that Crossfit class. One of the biggest barriers I see my clients facing on their path to better finances is this: they think it’s going to be way harder than it actually is and take far … [Read more...]
Expert Tips on Building Wealth for Forty Somethings
It’s not easy being 40-something. Hovering somewhere between the Baby Boomers and the Millennials, we defy tidy categorization. (Who wants to be pigeonholed into some lame label, anyway?) We’re also walking a tightrope with our wealth, deciding how to maximize earnings, minimize debts, prioritize desires and duties … and leave time for some fun along the way. One thing is for sure. Nobody should go it alone as you work on building wealth. That's why I've put together a simple … [Read more...]
15 Money Tips To Make Your 40s Financially Awesome
Financially freaking out in your 40s?? Here are 15 money tips especially for you ... Right. You are 40, nearly 40 or (noooo!!) over 40. Suddenly you realize that yes, you might be a grown up. Proper job? – check. Spouse/partner? – check. Kids? – check. House and mortgage? – check. If you have checked even a couple of these it might just possibly be time to think about …. your financial goals like retirement, college for your little darlings or just simply providing … [Read more...]
Retirement Planning Through Life’s Stages
Planning your retirement is not something you should start when you turn 40. The earlier you start retirement planning, the more flexibility you will have as you approach retirement age. A lot of this planning happens in stages, which reflect your current needs, retirement goals, and available financial resources. Breaking down how you should plan for retirement begins early, and continues into retirement. Early Stage Retirement Planning Though it may be hard to start saving … [Read more...]
Avoid these 5 common mistakes in your 401(k)
It was not long ago that American workers counted on the “gold watch” and the company pension plan to reward them for a lifetime of service and provide for their “Golden Years.” Times have changed. Workers today change companies often, and corporations have slashed worker's benefits. The 401(k), once a “supplement” to the company pension plan is now the primary retirement tool for most workers. Unfortunately, that means the burden is on us to save and invest wisely in our 401(k) plans—yet … [Read more...]
Saving for College with a Roth IRA
If you have noticed a bit of moroseness in your children in recent weeks, it’s likely because they are well aware that summer vacation will soon be coming to an end. Of course, that also means the kids will be one year closer to graduation, which, given the skyrocketing costs of college tuition, should make you quite morose as well. Although the thought of an empty nest may fill you with many mixed emotions, an empty bank account is an unmitigated misfortune. A “New” College … [Read more...]