Retirement has transitioned from pensions, savings, and Social Security {S.S.} to a few pensions, at-risk S.S., and, worst case, 100% dependence on your savings.
Read More
Investing in the S&P 500, a stock market index that includes the 500 largest publicly traded companies in the U.S., is a great strategy to achieve financial freedom.
Read More
I write my annual goals each January, including Net-Worth target. When I started calculating and setting an annual net-worth target, I took better control of my wealth creation. Calculating your 2019 December, net-worth is like taking a picture of a house you are rehabbing. From that picture you determine the improvements you plan to work towards for the next 12 months THREE KEY REASONS Net - worth is the most ...
Read More
A large percentage of today’s retirees are facing a “longevity crisis” and outliving their savings. Some of my friends are facing this very real crisis. One spent the bulk of his 401K on his three kids’ college education. Because he loves his children. Two have small pensions and are financially struggling. Another is afraid he cannot afford to retire. When you add in the risk of catastrophe illness, their risk ...
Read More
This Group of People Is Most Likely to Retire Broke https://www.fool.com/retirement/2019/05/23/this-group-of-people-is-most-likely-to-retire-brok.aspx If you refuse to attempt to save for retirement, it is 100% guaranteed you will retire broke! Unfortunately those people earning <$50,000, include a large percentage of women and minorities. You CANNOT keep singing the Woe Is Me, ballad! Keep reading this post to learn the action you can take starting TODAY! EXERPT FROM ARTICLE “Approximately 60% of workers who earn less than ...
Read More
FINANCIAL LITERACY
NOTHING YOU WILL DO IN YOUR LIFETIME REALISTICALLY, WILL WASTE MORE MONEY THAN BUYING A NEW CAR!
NEW CARS VERSUS A HUGE JUMP IN YOUR NET-WORTH I often hear or read similar below comments: I have $80,000 in college loans that are killing me. Backbreaking DEBT! I cannot afford to contribute to my 401K.I will never be able to retire.Life is unfair!I just purchased a brand new Porsche! 718 Cayman Porsche - Is It Worth It? Wait one minute - did you just say, you owe $80,000 in college loans; contribute $0 ...
Read MoreI started publishing Wealth Building Powers blog when I was suddenly sidelined from my professional career for health reasons. I worked in a field that strives to protect the lives and health of employees and the neighbors in the surrounding communities. I enjoyed my field and miss it as I made a difference by sending employees home safely at the end of their shifts and the end of their work ...
Read More
What is the one thing we do not want to happen in retirement? I say death, but as this is an investment and finance blog- RUNNING OUT OF MONEY! Financial professionals recommend to maintain your current lifestyle in retirement, you need about 70-90% of your FINAL income, EACH YEAR. If your retirement final income is $100,000 you need $70,000 to $90,000 annual income. Because of the extension of life expectancy and ...
Read MoreOne sure-fire way to live a good, no make that great retirement is to utilize all the savings tools at your disposal today. The past two blogs discussed the 401-K Plans, both the Traditional and the ROTH. Let us look at two additional retirement tools, the Individual Retirement Account (IRA) and the ROTH IRA. Even if you have access to a 401-K, an IRA is a GREAT investment tool. Think ...
Read MoreLast week, I discussed the best retirement investment tool, the 401-K Plan (401-K). This week we wil look at a variation of the 401-K, called the ROTH 401-K. For those of you who have a ROTH IRA, the rules and benefits are similar. Vanguard Investments’ data indicate 60% of their client companies offering a 401-K plan offer both a traditional plan, and the ROTH 401-K. However, Americans may not completely understand ...
Read More