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Retirement should feel secure, yet even small financial missteps can quietly chip away at your savings. Many retirees unknowingly fall into habits that make their money stretch less than it should, putting long‑term comfort at risk. By understanding the most common pitfalls, and how to sidestep them, you can protect your nest egg and enjoy … Read more
Retirement doesn’t have to mean slowing your income. It can be the perfect time to tap into high‑paying roles that value the expertise you’ve built over a lifetime. Many retirees are discovering flexible, well‑compensated jobs that let them stay active, use their skills, and enjoy meaningful work without the pressure of a full‑time career. With … Read more
First – thanks for all the thoughtful comments on my last post, Teaching Teens to Budget! There was great dialogue in the comments and I can’t wait to give a one-month update after this month passes (February is our first month with this experiment in effect). For today, I’ve got a super long post ahead. Grab yourself a cup of coffee/water and settle in, because this one is a bit of a doozy! I’ve written a bit about my desire to retire early (see my Catching Fire post, or my 2026 Financial Goals post). I’ve been thinking through many of the comments you’ve raised on these posts and wanted to share my thoughts and planning for early retirement. The big caveat is that I’m still figuring this out and am by no means an expert, so these are my early thoughts. If you notice a glaring hole or something I’m forgetting, please let me know in the comments! Timeline for Retirement I’ve had the dream and desire to retire early for years, but now we have a real countdown! Hubs retires in just over 6 years from a government job where he’ll have a pension and enjoy health insurance for life! I’m currently 42 years old, and my retirement timeline is a bit more unclear. I’d love to retire when hubs does in 6 years, but if the girls go straight to college after high school, they’ll be in their sophomore year at that time. Since I work for a major university, I get great benefits for my kids to go to college, and I’d have a tough time walking away from that benefit mid-schooling. For that reason, I think my retirement date is more likely to be 8 years (age 50). That said, I don’t think I’ll really be fully “done” working at that point. For the last year, I’ve been working on some side projects – writing a book and starting my own small business. When I retire from my W2 job, it doesn’t necessarily mean I’d be done working all together. What “Early Retirement” Means to Us This brings up an important point, because neither my husband nor I plan to be fully 100% out of the workforce in the next 6-8 years! When we retire from our W2 jobs, we’d both like to continue working in some fashion. The hope and goal, though, is that we wouldn’t be working for the money. We hope to be able to pursue more “passion” type of job interests. Hubs loves gardening – maybe he’d go work at a plant nursery! I love writing – maybe I can find some more freelance writing gigs?! We both want to stay busy in some way, but we want autonomy over our time. We don’t want the day in and out corporate/government job grind. And we’d like to have enough money in savings/investments that we don’t feel trapped in other jobs for the sake of paying bills. Some people refer to it
Achieving financial independence is often easier said than done. However, it’s not impossible, and after hearing about other’s success stories in the arena, you’ll be well on your way toward success. Recently, people met in an online discussion to reveal how they achieved financial independence and shed light on how others can follow in their footsteps. 1. Work Double Duty Image Credit: Shutterstock. If you’re toying with the idea of starting your own business, one person […]
There are many different strategies for answering the “how much should I spend each year in retirement” question. Which strategy works best for your household will depend on your priorities. (Maximizing expected spending over your life? Maximizing spending in early retirement? Maximizing spending predictability?) Morningstar’s Amy Arnott recently shared the results of her research, together with other Morningstar colleagues, discussing which strategies would be expected to maximize total spending through retirement. Here’s How You Can […]
Save, invest, prosper with My Own Advisor. Weekend Reading – Do you need bonds in retirement? Well hello! Welcome to some updated Weekend Reading about this subject: do you need bonds in retirement? (Thanks again to my readers and their email questions related to this subject.) Weekend Reading – Do you need bonds in retirement? This remains a great question and something… Join the million dollar portfolio journey. The article Weekend Reading – Do you […]
Retirement tax planning is often presented as a set of rules. These rules are usually designed to work in isolation or within a single tax year, which makes them appealing but incomplete. While these guidelines can be helpful starting points, they are not finished solutions. Real-life tax planning decisions are more complex because they involve interacting tradeoffs that unfold over decades rather than a single tax year. At its core, tax-efficient retirement income planning is […]
Welcome To Bankeronwheels.com! This article is FREE — but only for humans. We don’t train future AI overlords 🤖🚫 👉 Log in or register (it’s fast & free): Continue with FacebookContinue with GoogleContinue with X .mh-wrapper{ padding;0px; } .nsl-button{ display: none !important; } .custom-social-buttons { display: flex; justify-content: center; gap: 15px; } .custom-button { padding: 6px 20px; border-radius: 10px; font-size: 16px; font-weight: bold; text-align: center; cursor: pointer; width: 40px; border: 1px solid #ddd; } .custom-google-button { display:flex; background-color: #ffffff; color: #db4437; align-items: center; justify-content: center; } .custom-social-buttons .custom-button { border-radius: 8px; transition: background-color 0.3s ease, transform 0.3s ease; transition-delay: 0.1s; /* Adds a slight delay before the hover effect starts */ } .custom-facebook-button { display:flex; color: #ffffff; align-items: center; justify-content: center; } .custom-twitter-button { display:flex; color: #ffffff; align-items: center; justify-content: center; } .custom-google-button:hover { background-color: #D93F2B; transform: scale(1.05); /* Adds a subtle zoom effect */ } .custom-facebook-button:hover { background-color: #365899; transform: scale(1.05); } .custom-twitter-button:hover { background-color: black; transform: scale(1.05); } .custom-button:hover svg path { fill: #FFFFFF; transition: fill 0.3s ease; transition-delay: 0.15s; /* Icon color change happens slightly after the background */ } .mepr-share-button:hover{ background-color: #bd3d59!important; } jQuery(document).ready(function($) { $(“.custom-google-button”).on(“click”, function() { var $googleButton = $(“.nsl-button.nsl-button-default.nsl-button-google”); if ($googleButton.length) { $googleButton.trigger(“click”); } else { console.error(“Google login button not found.”); } }); $(“.custom-facebook-button”).on(“click”, function() { var $facebookButton = $(“.nsl-button.nsl-button-default.nsl-button-facebook”); if ($facebookButton.length) { $facebookButton.trigger(“click”); } else { console.error(“Facebook login button not found.”); } }); $(“.custom-twitter-button”).on(“click”, function() { var $twitterButton = $(“.nsl-button.nsl-button-default.nsl-button-twitter”); if ($twitterButton.length) { $twitterButton.trigger(“click”); } else { console.error(“Twitter login button not found.”); } }); }); OR
My primary goal for this site is to help you achieve financial freedom sooner rather than later. And if you’re still on your path to financial freedom, sending your children to private grade school often works against that objective. I’ve experienced freedom from bosses, work travel, rush hour commutes, and client pressures since 2012. And […] The post Be Careful Sabotaging Your Retirement For Private Grade School appeared first on Financial Samurai.
Save, invest, prosper with My Own Advisor. Is sports betting killing your financial independence plan? Thanks to some reader input of late, I wanted to write about this: is sports betting killing your financial independence plan? Depending on your personality and easy access to credit, I think it will. Gambling 101 The most recent SuperBowl is now over – gambling will rage… Join the million dollar portfolio journey. The article Is sports betting killing your […]
Image source: Amazon If you’re a serious collector or a collectibles investor, then you probably have several comic books that have serious collector value. Such valuable comics are essentially the same as a financial asset in a portfolio, like a painting or real estate. No, not every comic you own will fit this metric, but you might have one or a couple that do. In that case, it might be a good idea to invest […]
How to Retire Happy, Wild, and Free by Ernie J. Zelinski was one of the books that chose for my 2026 personal finance resolutions. I see Ernie’s comments in Joe’s Retire By 40 blog frequently, and then I saw his book mentioned in another book … Read moreHow to Retire Happy, Wild, and Free Book Review The post How to Retire Happy, Wild, and Free Book Review appeared first on Genymoney.ca.