The intersection of personal finance, financial independence, and Disney.
Retirement related
Sure. “I was able to save $15,000 more in 15 minutes for retirement and you can, too.” Ugh, I know… I know. We all hate it when personal finance writers assume that just because they were able to do something then it should be easy for everyone else, too. That said, what I did was incredibly generic and could apply to a lot of people out there with a company-sponsored 401k.
Does your employer offer a 401k match with contribution program and do you contribute enough to get the full match? I hope if you are reading this you understand the importance of saving for retirement so I’ll skip that. What is more important here is saving for retirement with someone else’s money. The 401k match is essentially your employer giving you free money for retirement as long as you save too.
Eventually in your personal finance journey you get to a point where you are functionally on auto-pilot until you reach your “financial independence number” or FIRE Number. Your FIRE Number is the investment balance at which, theoretically, you could withdraw from to maintain your current lifestyle for longer than you plan to remain alive without depleting the account. That was a really morbid way of putting that… sorry. It’s basically the amount of investments you need to be self-sustaining for the rest of your life.
Continue reading
In other words: “What should I do with my money and when, please”. I’m sure this is the same question most people are asking themselves. Everyone has money and needs to put it to use but there is no real unified plan. There is no personal finance flow chart to walk down for each stage in our life. Or is there?
Continue reading© 2024 Retire at Plaza and Main St
Theme by Anders Noren — Up ↑