My Financial Independence Journey » Retirement
7 Ways to Increase Your Savings
The key to achieving financial independence is to save and invest money. That is obvious. What is often not so obvious is where those increased savings are going to come from. Below, I’ve outlined seven great ways that you can boost your savings rate … Read entire article »
Filed under: Reflections, Retirement
What’s your financial independence (retirement) number?
Did you ever see those commercials where people walk around carrying a giant number under their arm? This is supposed to represent their magic retirement number, or how much money they need to have saved up in order to retire comfortably. Apparently, “comfortable” is a very relative term because the numbers these people were toting around seemed to vary by a couple of log orders. … Read entire article »
Filed under: Reflections, Retirement
Savings Rate is the Key to Achieving Financial Independence
Achieving financial independence requires only two things, a high savings rate and a descent rate of return. But what constitutes a high savings rate? What if you just want the lowest possible savings rate that will still get you to a comfortable retirement? Can you really expect to achieve financial freedom faster if you load up on high yield stocks? Answers to all of these questions are revealed as we explore the magical worlds of … Read entire article »
Filed under: Investing, Reflections, Retirement
Should Americans Be Forced to Save For Retirement?
I have previously written about American’s poor savings rates. Even the rich are only saving on average 12% of their income. The fact is that these poor habits are leading to a retirement crisis for millions of Americans. As such, there is at least one proposal out there to mitigate this by having the Government force us to save for retirement. Yes, more forced savings, on top of social security, and on top of the … Read entire article »
Filed under: Reflections, Retirement
Weekend One Off: Illinois Pension Crisis – motivation to save massively
I have a policy of not trusting Social Security, pensions, or any IOU money. Until it’s in an account with my name on it, it doesn’t exist. Government employees in Illinois are unfortunately learning this the hard way. … Read entire article »
Filed under: Retirement, Weekend one off
