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FIRE, an acronym for “Financial Independence, Retire Early” is trending as a new financial lifestyle. In a nutshell, FIRE promotes extreme savings in your 20s, 30s and 40s, with the goal of being able to live off passive income from the accumulated nest egg much earlier than typical retirement age. Some proponents suggest saving 70% of your income until you have collected 25x your annual salary, cutting your working years ... Read more
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Preparation for retirement is extremely important, and it extends well beyond finances. In addition to knowing how you’re going to fund it, you also need to know what your time will look like when you say you’re done with being a wage earner. With this new lifestyle, you not only need to determine how to fill up the hours in the day, but you also need to determine what your ... Read more
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There are some who see retirement as a finish line. I feel like this is slightly misleading. In actuality, quite a lot can still be accomplished at this time in your life. Rather than viewing retirement as a reprieve from the hustle and bustle, I like to see it as a final chapter to solidify your life’s success. How that looks, though, is entirely up to you. The first step ... Read more
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There have been countless news stories about how Millennials are different than previous generations, including their relationship with debt. The principles on debt – the difference between good and bad debt and how to make sure your money works for you – haven’t changed. What has changed are the ways to prepare for retirement and the mountains of student debt that many millennials are struggling under. This large debt slows ... Read more