Start a Retirement Fund Now! Start a retirement fund. If you work for a corporation that has one, use the 401(k) plan. If employed by a firm with no pension plan, open an Individual Retirement Account. As a rule, both the contributions to these plans and the earnings are untaxed
Living Far Below The only way for you to provide for your later years is to live below your means. If you want to have any hope of achieving financial independence you must live far, far below your means. This is not a difficult concept to understand. Although it is
“Preparation for old age should begin not later than one’s teens. A life which is empty of purpose until 65 will not suddenly become filled on retirement.” Dwight L. Moody (1837-1899) Founder of the Northfield Schools, Moody Church, and Moody Bible Institute
Retirement Issues & Musings & Random Thoughts I’ve created numerous budgets for possible retirement scenarios. The one thing that seems to always jump out at me, is that I need to work more, save more, spend less and prepare for the unexpected. For all of you who are in the
Build a Huge Nest Egg You can build a huge nest egg for your later years simply by living below your means. Does it mean driving a car that should be abandoned in a junkyard? Not really. Does it mean eating oatmeal seven days a week and drinking only water?
Retirement Income Most people will have to replace 70-90% of their current income at retirement age. Many will want to replace 100% of their pre-retirement income. Because we are living longer and healthier lives, we can expect to live 20 plus years after retirement and to be more active at
Bank Interest vs. Mutual Fund Growth The following chart shows the annual return on an investment in five-year increments. If you were to begin saving now, an amount of $100 per month, the following chart details your possible investment return showing a variety of percentages and years. Annual Return
Retirement Issues & Musings & Random Thoughts I’ve created numerous budgets for possible retirement scenarios. The one thing that seems to always come to light, is that I need to work more, save more, spend less and prepare for the unexpected. For all of you who are in the state