An average American can expect Social Security to replace about 40% of pre-retirement wages
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Too many Americans leave money on the table by not taking the FREE money their employer has offered.” You cannot give away free money! If you want to do that, reach out, and I will give you my mailing address!
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If I had one piece of advice for anyone who hasn't started investing yet, it would be: Please, just start. If that feels hard, ask for help. Money and investing are an emotional business. Seek advisors to help wade through your valid concerns!
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Styron discovered that about 60% of Americans could not afford a $400.00 to $1,000.00 emergency bill - car, heating, medical, or any other sudden cost. So he started writing a blog to help his readers understand how he had personally chosen financial freedom and how to achieve it for themselves. He also does coaching and mentorship -
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I did not realize how much our debt grew under Obama, Trump, and Biden. Even with low-interest rates; we pay >$300 billion on interest payments or about nine percent of all federal revenue collected. This number will continue to increase as Biden attempts to push through Build Back Better- BBB. {I have a different word for the last B.}
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The Feds increased 401K contribution limits to $20,500 in 2022, which is an increase from years 2020 and 2021 limit of $19,500. Catch-up contributions to retirement accounts for those age 50 and up will remain unchanged at $6,500. Including their regular contributions, people 50 and up will be able to stash up to a limit of $27,000.
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The problem is worse today than my parents’ generation because pensions in the private sector have been eliminated. VOLUNTARY 401-K plans have replaced the Majority of companies’ pensions. The 401-K was designed to mimic a pension’s retirement income. BUT only if YOU: 1. Start saving EARLY, in your 20’s, 2. Contribute a significant percentage of your compensation to your plan, 3. Work for a company that matches some portion of your ...
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Apple has delivered an average return of 43.5 percent per year for the past ten years. Suppose you or your parents invested $100 per month during those ten years in Apple stock and placed it in a ROTH IRA. You would have contributed $12,000.00 principal—but more importantly, have accumulated an investment gain of $190,211.00 with a total account value of $202,211.00. When you reach retirement age (59.5 years), you will owe ZERO dollars in taxes on ...
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IT'S ALL ABOUT THAT MAGICAL 401K SILLY! A powerful means to grow your wealth is accepting YOUR matching contributions from an employer into YOUR 401K plan. Employer matching 401K contributions means the employer contributes a certain percentage of your compensation to your retirement savings. Because it is YOUR MONEY/PART OF YOUR COMPENSATION, companies must budget these matching funds. Approximately 15% of employees decline to open a 401K and hence decline the matching funds. Those ...
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Fears of health and economic fallout from the coronavirus outbreak pushed the U. S. Stock Markets into Bear territory (down at least 20%) this week. Of course, we are ALL concerned, but panicking has never fixed any of my problem. {Maybe with the exception of that monster from my childhood closet. It was YUGEEEEE!} PLEASE STOP HOARDING TOILET PAPER {WHY TOILET PAPER?}, SANITIZERS, AND EVERYTHING ELSE! You can’t find hand ...
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