I have credit card debts to pay off, student loans to service, bills to pay and a down payment to save up for. I can’t afford to save for retirement.
Sound familiar? With all these obligations, how the heck are we supposed to start saving for retirement, something that could be decades away?
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Even high income earners are eligible to make a Roth IRA conversion starting in 2010. To sweeten the deal even more, those who elect to make the transfer can spread out the taxes owed in years 2010 and 2011. But how does the roth IRA conversion work? What are the consequences?
Consider This [...]
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If you want to be happy in retirement, having a million dollar nest egg hardly gets you there.
All over, financial planners advise us to have a certain figure in mind when it comes to retirement. “Based on your current salary, you need $1.2 million by 65″, they might say. But yet, as history [...]
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Reading can really open your eyes. In some cases, it can even make you jump off your chair and yell NO WAY.
An article in the recent Money magazine really caught my attention.
…by 58 (when the couple wants to retire), [they] will have $1.7 million…That should get them most of the way, but there are [...]
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Almost every month, I read an article discussing the size of our nest egg needed for a comfortable retirement. Almost every time, I think about my own retirement funds and try to compare it to the guidelines. Yet, every single time, I ask myself:
Is the retirement savings being referred to a post or [...]
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Especially during the first morning after a long weekend, the alarm clock ranks first in the most hated invention of all time. That irritating buzz signals that yes, the sweet days off the 9-5 are over. There’s no more sleeping in, no more watching TV all day and no more time to look [...]
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You may not need a financial adviser. Not everyone does. And if you don’t trust your adviser, fire her immediately. It’s better to keep looking than to work with someone you don’t feel comfortable with 100% of the time.
If you decide you want to interview new advisers, there are three questions they [...]
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A concerned reader asked me about the stock market and the aging population of baby boomers. Will all these retirees kill stock market performance?
We’ve seen how last year’s market performance had decimated retirement plans, but what is going to happen when they really need that money in the next few years. Should we be [...]
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2008 could be marked as the year that many people change their retirement goals. Reading our 401(k) quarterly statement was once exciting and now it’s just a reoccurring reminder that train wreaks could happen to everyone.
Subsequently, many people asked me whether they should give up on their 401(k) and just stick all their savings [...]
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Think you know everything about 401k and IRAs? I invite you to take the Kiplinger’s Retirement Quiz! After each question, it will instantly tell you whether you got the question right or wrong and then give some information related to the topic.
What I want to talk about though is actually the statistics that [...]
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Earlier, I asked the readers when they started saving for retirement here. It’s been a couple days since and here are the results!
Before my 20s (11%)
In my 20s (57%)
30s (17%)
40s (9%)
50s (0%)
Still haven’t saved anything (6%)
I’d like to congratulate us because the vast majority of us started saving for retirement by their 30s (85%). [...]
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I started saving before I was 20 but how about you?
[poll=5]
Share your experiences with us!
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Today is the last day to make 2006 contribution to your IRA account and I?? sure many people will take advantage of the account opening offers from brokerage firms like Etrade financial and TD Ameritrade. All I can say is, remember to read the fine print!
I was one of those lazy people that seldom reads [...]
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Here’s a short speech I did on retirement planning. Hopefully I’m able to convince more of you to start saving early!
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Would you be working if you have enough money to retire? Wouldn?? it be nice to be having your morning cup of coffee on the beach instead of inside your cubicle? What can we do [...]
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Fixed.
