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An increasing number of older Americans are concerned about their retirement savings, with a majority worried that inflation will outpace what they’re able to save. Many people being that they will “die working.” Stramp/Shutterstock For millions of Americans over 50, retirement no longer feels like a reward after decades of work. Instead, it feels like a financial cliff approaching faster than they expected. A troubling AARP survey found that 20% of adults age 50 and […]
Healthcare in Early Retirement It’s not insurance. It’s the largest variable expense in your retirement plan. Most physicians eyeing early retirement lose sleep over one number: healthcare. Not tail coverage or disability insurance. Healthcare insurance. Healthcare is the one expense […]
Why Early Retirees End Up in Social No-Man’s Land You ran the spreadsheets. The portfolio is solid. Your withdrawal rate is conservative. The tax strategy is dialed in. Congratulations. You won the money game. What almost nobody warns you about […]
President Donald Trump is seeking to expand a federal retirement savings incentive currently limited to lower-income Americans, saying congressional approval to broaden eligibility “should be very easy to get.” The effort builds on his recent executive order promoting retirement access through TrumpIRA.gov and could eventually allow more middle-income workers to receive up to $1,000 a year in federal retirement matching funds. Read the rest
The golden years aren’t looking quite so golden for millions of baby boomers. According to Federal Reserve data, fewer than half of all boomers have saved enough for retirement, and a troubling 43% of Americans between 55 and 64 had no retirement savings at all. Meanwhile, the Social Security Administration’s 2.8% Cost-of-Living Adjustment for 2026 was largely swallowed up by a jump in Medicare Part B premiums to $202.90 per month, effectively wiping out much of that raise for most retirees. The result? A generation that spent decades working hard and saving carefully is now getting creative and not out of choice, but out of necessity. Here are seven new frugal habits boomers are turning to in order to make retirement work. 1. Using Apps to Track Every Dollar Gone are the days of handwritten ledgers and paper budgets. Boomers are honing their tech skills and tapping into artificial intelligence to perfect frugal living in retirement. Boomers are turning to technology to record their expenses and budgets. You don’t need to balance a checkbook or keep track of receipts and expenses anymore. Boomers can easily download free apps, connect them to their bank accounts, upload receipts, and see where their money is going. This shift toward tech-assisted budgeting represents a genuine attitude change for a generation that was slower to adopt digital tools. The payoff, however, is real: when every transaction is tracked automatically, it becomes nearly impossible to ignore where money is slipping away. 2. Hunting Down Hidden Subscription Costs Streaming services, cloud storage, premium memberships, fitness apps… they each seem harmless at $10 or $15 a month, but together they can drain hundreds of dollars a year without a retiree ever noticing. Financial advisors are now calling this the “silent drain.” Boomers who are staying ahead financially are performing monthly “subscription purges,” canceling any service not used in the last 30 days. They treat every $15-a-month charge as a $180-a-year investment decision, ensuring their money isn’t quietly leaking out of their accounts. In the time of subscription creep, most people have no idea what they actually spend on subscriptions every month. For retirees on fixed incomes, that kind of blind spot can be genuinely dangerous. 3. Buying Refurbished and Second-Hand Goods There was a time when buying used goods carried a stigma. It was something you did only if you had no other option. That perception is fading fast among boomers who have decided that financial pragmatism matters more than appearances. Many boomers are opening their minds to refurbished or used electronics, appliances, and furniture. People, in general, are moving towards vintage and used aesthetics, and boomers are jumping on the bandwagon to save money. 4. Negotiating Bills Like a Full-Time Job Loyalty, it turns out, rarely pays when it comes to service providers. Savvy retirees are learning that a 15-minute phone call can yield real savings, and they’re making those calls regularly. Boomers who stay ahead of inflation are now making it a habit to call their
Most retirement planning focuses on the “Magic Number”—the total corpus. But the day you stop working, the game changes. You stop getting credited on the 1st of the month, which helps you meet all your expenses. Instead, you need to plan to get that money into your account from the corpus you have accumulated. To… The post What’s your retirement SWP strategy going to be? A 2005 vs. 2008 Case Study appeared first on freefincal.
While single people may have fewer Social Security filing options compared to married couples, strategic planning regarding the timing of benefit claims can significantly enhance their financial outcomes. Claim Early at 62 Anyone who has paid Social Security taxes for at least 10 years (has 40 credits) can begin receiving retirement benefits at age 62 based on their earnings record. Read the rest
A friend shared an interesting idea from David Bach’s “IRA Flat Tax” proposal, and it got me to thinking. Here is the white paper if you haven’t read it: IRA Flat Tax White Paper – David Bach.pdf – Google Drive The basic idea is simple: for a limited window, maybe 2026–2033, retirees could voluntarily withdraw money from traditional IRAs, 401(k)s, and similar retirement accounts at a flat federal tax rate — possibly around 12%. The […]
A update on the FIRE meetup front. Mrs Hoefnix and I have setup a new site specifically dedicated to FIRE meetups in the Netherlands. You find find this here: https://www.firemeetups.nl/ (in Dutch only!). We will be using this site as our central location for all news, updates and ticket sales for our FIRE meetups going forward. But if you want to do a FIRE meetup yourself, which we sincerely appreciate and support, you can drop either of us an email to have your event added tot his site. The site will get a calender in the future where you can clearly see which events are when and where. There is also the opportunity to register yourself for an e-mail list, so you can receive updates when available. We have now also added a post for the upcoming event: Utrecht on FIRE – Financial Horror Edition. Utrecht on FIRE – Financial Horror Edition FIRE Meetup in Utrecht When: 31 October 2026 Where: Utrecht – Leidse Rijn (details will be provided to ticket holders) What time: 12:00 doors open – 21:00 doors closing Ticket Price: €25 What’s included the ticket price: Lot’s of (healthy and horrible) snack & drinks during the day. No lunch, no dinner! Where to buy your ticket: Click here Let’s use a pretty picture to summarize! Program for the day 12:00 – 13:00: Doors open (No lunch included!) 13:00 – 13:15: Welcome and agenda for the day 13:15 – 14:00: Financial Horror Stories (if you have any, from personal experience or from others, and you want to share, please let us know!) 14:00 – 14:30: Coffee Break 14:30 – 15:00: Breakout sessions Part one (5 sessions to chose from including: FIRE for beginners, FIRE for Entrepreneurs, Estate Planning: FIRE, kids and inheritances; FIRE & Couples: getting your partner on board and Life after FIRE) 15:00 – 15:30: Coffee Break 15:30 – 16:00: Breakout sessions Part Two (5 sessions to chose from including: FIRE for beginners, FIRE for Entrepreneurs, Estate Planning: FIRE, kids and inheritances; FIRE & Couples: getting your partner on board and Life after FIRE) 16:00 – 16:30: Coffee Break 16:30 – 17:30: Taxes – current & future state of Box 2 & 3 17:30 – 17:45: Closure of the day 17:45 – 19:00: Drinks 19:00 – 20:00: Optional Pizza’s (we will have to order for those that are staying – costs not included in admission!) 20:00 – 21:00: Clean-up venue and close out. Couple of notes As noted in the previous post, we were looking for volunteers to help us make this day another success. You guys responded in great numbers and we should be good for now. Thank you all for the enthusiasm! In case there are changes, we will let you know! We tried to improve the ticketing system and restitution process. When we reach maximum sales, a waiting list will be generated. Restitution of your ticket is possible until 14 days before the event. Restitution costs for Eventbrite are yours
I’ve concluded the main reason I can’t convince anyone in real life to FIRE is the desire for more. The moment you hit a $1 million net worth, you start dreaming of $5 million. Get to $5 million and suddenly $10 million sounds reasonable. Hit $10 million and, well, why not shoot for $25 million […] The post The Multi-Million Dollar Home That Ate Your FIRE Number appeared first on Financial Samurai.
In 2026 I hit a milestone that seemed like a distant, foggy dream back in my corporate days: the ten-year anniversary of my retirement. If you want to go to the beginning and get the details on that blessed event, check out I Retired! There are some fond memories for me in that post! Anyway, my plan to celebrate this momentous occasion is to write several “10 Things” posts about retirement. The first post in […]
Hey everyone! I hope you’re enjoying the beautiful spring weather. It’s been a while since I posted an update. To be completely honest, blogging became much more difficult once I stopped posting every single week. There are always so many things to do around the house, and writing is much harder when I don’t stick to a strict schedule. Anyway, I promised to update my withdrawal plan, so here it is. This plan isn’t set in stone. We’ll constantly modify it to minimize taxes and respond to unforeseen circumstances. We will likely withdraw more in some years to cover “lumpy” expenses, like buying a new car. Life is full of surprises, and we’ll have to adapt as needed. Our early retirement withdrawal plan is flexible. Right now, we have almost $1 million combined in our taxable brokerage account and Treasury bonds. However, we also have changing family circumstances to navigate. Our parents are getting older and need more assistance. Because of this, we plan to move to California to be closer to Mrs. RB40’s family when our son finishes high school in 2029. As you’ll see below, this move is a massive factor in our financial timeline. (For context, I am 52.5 years old right now.) The Timeline: 2026 to 2049+ 2026 to 2028: The Early Years & Simplifying Real Estate 2026 is our first year of full retirement. Our active income will be minimal—probably around $5,000 from blogging and minor side gigs. Fortunately, Mrs. RB40 has a small pension of about $10,000 annually. More importantly, her retirement plan includes group health insurance coverage. We pay the same premium amount as we did when she was working, and it’s deducted directly from her pension. This is huge. Not having to worry about the ACA marketplace or healthcare costs gives us a lot of breathing room. Estimated Annual Expenses: ~$75,000 Active Income + Pension: ~$15,000 Passive Income (Dividends/Interest): ~$20,000 The Gap: We need to cover a shortfall of about $40,000. The Solution: Since we are moving to California in a few years, I am winding down our Portland rental real estate. We recently put our rental condo on the market. Once sold, it should generate roughly $150,000 after fees and taxes. This cash pool, combined with our other income streams, will fund the next 2 to 3 years of living expenses. Our Housing Adjustments: Currently, we live in a duplex and rent out the upstairs unit. However, I’ve asked our tenant to move out in 2027. RB40Jr is a teenager now and needs more space. One bathroom doesn’t cut it anymore. Mrs. RB40 also wants more room since she is home full-time. We will use the next few years to live comfortably in the whole property while fixing it up to get it ready for sale. It’s a big win that we resisted upsizing for 15 years. Most families expand their housing when they have kids. Note on a lumpy expense: I may purchase a new car
As people earn more money throughout their careers, it’s natural to upgrade their lifestyle with better homes, nicer cars, and more luxurious vacations. However, this phenomenon, known as lifestyle inflation, poses significant risks, especially in retirement planning. When spending increases in tandem with income, it can be challenging to save enough for a comfortable retirement. Understanding how lifestyle inflation can derail retirement plans is crucial for maintaining financial stability in your later years. 1. Eroding […]