The big financial news this month was interest rates starting to fall with the Fed cutting rates by .5%. What does this mean moving forward? We’ll explore. I share an early retiree case study and resources to help you build a solid financial foundation. Resources will also help you assess risk, deal with uncertainty, and...
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For most people with above average incomes and the willingness to save and invest, becoming financially independent and having the ability to retire early (FIRE) is not only achievable, it is the inevitable result of “simple math.” For me and many others in the FIRE community, this realization was the catalyst to pursue this radically...
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Boomers were never average. However, here are 11 exceptional tips for the transition to retirement that apply to us all. Read now...
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Health costs before age 65 when you qualify for Medicare are expensive. Here are 9 ways to make early retirement insurance more affordable.
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Heading into retirement can be a difficult in-between-time. Here are 8 ideas for how to thrive as you navigate the transition.
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For many, becoming a millionaire is a desirable (and useful) milestone. Here are 14 myths about millionaires and some tips for how to become one at any age.
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In 2010, Nobel Prize winners Daniel Kahneman and Angus Deaton found that happiness rises with income up to about $75,000 a year*. After that, more income doesn’t increase happiness. However, ... Read more
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That depends. If you choose a pension payment option that provides a lifetime benefit for a beneficiary, you cannot change your beneficiary even if they die before you do. However, if you choose a pension payment option that provides a benefit for a certain period after retirement, you can change your beneficiary after you retire. […]
If you’re planning to retire soon, it’s a good idea to take inventory of any debt you owe. Paying down your debt can give you flexibility to enjoy the type of retirement you want. NYSLRS Loan Debt If you have an outstanding NYSLRS loan balance when you retire, it will reduce your pension. The amount […]I recently attended the 2024 Bogleheads Conference. This was my second time attending. You may not be familiar with the Bogleheads. In my write-up of the 2022 conference, I explain what a Boglehead is and how this group came to be. You can start there for some background. For the rest of you, here are...
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Did you know that financial planning is an excellent way to boost happiness hormones? (In addition to ensuring a secure future!) Find out how!
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The Social Security cost of living adjustment (COLA) for 2024 stands at 3.2%, much less than 2023. Is it enough?
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Forty percent of insurance claim appeals are successful. It is definitely worth asking questions and fighting claim denials. Learn about the right steps to take.
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Financial security doesn’t just happen; it takes planning and time. You know you can count on your NYSLRS pension income in retirement. But, if you want to improve your chances of a financially secure retirement, your plan should include personal savings. It’s important to start saving and investing early so your money has time to grow. You […]
A Wall Street Journal Your Money Briefing podcast appeared on my feed shortly after the recent Fed interest rate cut. The title was As Interest Rates Fall Bonds Become a More Attractive Investment. This immediately prompted me to ask a question: Is that true? I primarily try to write timeless articles for this site. Occasionally,...
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Hey everyone! Did you have a good month? September was glorious in the Pacific Northwest. The weather turned cooler, RB40Jr started 8th grade, and life settled into a familiar rhythm ... Read more
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As a NYSLRS member, your defined benefit pension plan is a good reason to be optimistic about your finances in retirement. Once you retire, your pension will provide monthly payments for the rest of your life. But there is more to a financially secure retirement than having a pension. Understanding all your potential sources of income will […]We want a happy, stress-free life after retirement. However, many of us also want a meaningful life. Find out how to plan for a meaningful retirement.
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Lessons from Nobel Prize winner Daniel Kahneman's book "Noise" can help you make better financial decisions. Find out how.
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A secure retirement is hard to achieve – especially if you are leaving money on the table. Here are 7 tips to increase wealth.
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Christine Benz has a new book, How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement dropping tomorrow. I was able to get an advance copy. Spoiler alert: it’s excellent. The book consists of twenty chapters. Each chapter is an interview with a different expert covering topics relevant to retirement planning. Read on...
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