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 ...
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STOP DESTROYING YOUR LIFE! - GET OUT OF THAT DAMN HOLE!
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Congratulations on accumulating a YUGEEE portion of your retirement money in a 401-K! As you approach retirement you need to decide what to do with YOUR HARD EARNED MONEY, currently sitting in one or more 401K Plans. This is a nice problem to have! SOME OPTIONS FOR AFTER RETIREMENT Keep your money in your 401-K Plan(s).Roll into an IRA or a ROTH IRA and convert to Exchange Traded Funds (ETFs), to lower fees.There ...
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BUILDING WEALTH BY PAYING YOURSELF FIRST I am an engineer/geek and I never liked traditional budgets. Instead I save money and grow my wealth by ALWAYS PAYING MYSELF FIRST! I am my most important debit. BUDGETS – YAWN BUDGETS Raise your hand if you love budgeting at home or work. That’s what I thought! Budgets sound great in theory but how many people do you know who have stuck with their budget.In a world where majority of us ...
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THE IRA PLAN IS A WEALTH BUILDING TOOL
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RETIREMENT WEALTH BUILDING TOOLS GOOD DAY EVERYONE! Last week’s BLOG discussed the GOAT Millionaire Builder - the 401K Retirement Plan. Click below link if you need to read that blog. {DO YOU WANT TO JOIN THE 401K PLAN MILLIONAIRE CLUB? {KINDA OF LIKE THE MILE HIGH CLUB – BUT A LOT LONGER LASTING!} https://wealthbuildingpowers.com/2019/06/10/401k-millionaire-club/} USING STRATEGY TO GROW YOUR WEALTH THE GOOD NEWS - If you do not have access to a 401K plan, there are ...
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IDENTIFY THE CAUSES OF PROBLEMS AND FIND SOLUTIONS This is an age test. Who remembers Mr. T.? There was a brief spell where I dressed and looked like him! But all that gold was slowing me down! Thank you for reading Wealth-Building-Powers Blog. I am grateful for all 5 MILLION of you! {Ok maybe a wee bit fewer than 5 Million} WHY OUT OF THE BLUE I STARTED WRITING AN INVESTMENT AND WEALTH BLOG There is a ...
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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 ...
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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 ...
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It is estimated the lack of financial literacy, cost Americans ~ $300 billion in 2018, or three Bill Gates’ fortunes. While financial literacy is not rocket science, 63% of Americans are considered "financially illiterate." People who are financially illiterate have difficulty applying financial decision-making skills to every day real-life situations. SO WHAT EXACTLY IS FINANCIAL LITERACY? Financial literacy is understanding all aspects of money, such as: taxes, savings, paying bills, retirement, budgeting, paying for ...
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