It often takes decades for the consequences of your actions to become apparent. Those are decades you can’t get back, and the lost time impacts your lifelong wealth. Learn from the financial mistakes of those who’ve gone before you with these top financial regrets reported by older Americans.
Striving for financial independence and retiring early (FIRE) has obvious appeal, but the journey can be as rewarding as the destination, and often uncovers hidden possibilities. Here’s how the very act of pursuing FIRE can change your financial and lifestyle options.
Short for “financial independence, retire early,” the FIRE movement has spread like a blaze among many younger and middle-aged workers. But should you quit working entirely just because you can afford to? Learn why financial independence doesn’t require retiring early, and what you could do instead.
Americans are increasingly on their own for retirement planning. However, you don’t necessarily need to save millions of dollars to have a comfortable retirement. Here are 11 ideas to approach your retirement planning more creatively and ensure you have the income you need in your golden years.
Although health savings accounts (HSAs) were designed to help pay for the high costs of health care, their unique benefits make them one of the most powerful tax-advantaged accounts in the U.S. Can you use an HSA to set tax-free money aside for retirement? Here’s how it’s done.
As pensions become increasingly rare — replaced by defined contribution plans subject to the volatility of financial markets — the importance of Social Security continues to grow. Learn how to maximize your Social Security benefits, your withdrawal options, and individual and spousal benefits.
To reach financial independence young and live off your investment income, you’ll need a mix of taxable and tax-sheltered accounts to maximize your savings, minimize your tax liability, and ensure you have funds to live on available at every age. Curious how to achieve this? Read on to learn more.
Once upon a time, when you reached 65 or so, your colleagues threw a party for you, you ate a slice of store-bought cake,...
In his book “Early Retirement Extreme,” Jacob Lund Fisker suggests a model for retiring after just five years of working. The idea has plenty going for it, but it remains a fringe movement. Learn about early retirement extreme — both the math and the personal finance foundations behind the concept.
Roth IRAs are popular tax-sheltered accounts for retirement savings, but they limit the amount you can contribute each year and exclude some higher-income savers. A backdoor Roth contribution is a way around these limits. Learn how you can use a backdoor Roth contribution.
There are several benefits of getting a second passport or residency in another country, including easier travel, higher pay potential, and the ability to take advantage of a lower cost of living. Check out these 15 countries with the most reasonable residency and citizenship programs.
For families with a nonworking spouse, the IRS allows both spouses to contribute to IRAs based on the joint household income to help them save more money for retirement. Learn about spousal IRAs, their rules, who is eligible to contribute, and the benefits of using these tax-sheltered accounts.