Frequently when you think of planning for retirement or becoming financially free in general, you think about how much money you’ll need to save in order to generate the kind of income that you’re use to. For example, how can I save $1,250,000 so that I can draw 4% and take out $50,000 each year? In this post, we’ll look at the other side of the coin. Instead, we’ll look for a way to reduce how much income you’ll actually need while on your own. And how will we do this? By focusing in on one of your largest expenses – your mortgage. … [Read more...] about Before Retirement, Eliminate Your Biggest Expense
early retirement
Will Dividend Stocks Help Me Retire Early?
If you have any hopes and dreams at all of retiring early, then you know that one of the biggest challenges you face is the fact that there are penalties for withdrawing your money too early from your retirement accounts. For most of them, this will be age 59 ½ (click here for a complete list). So one of the re-occurring questions that we keep asking on MyMoneyDesign is: • How do I bridge the gap between early retirement and age 59 ½? In previous posts, we’ve reviewed the following non-employment, investment-style options available: • File for a 72t or “SEPP - Substantially Equal Periodic Payments” to get penalty free portions of your nest egg money out. • Quit working at age 55 to get your 401k’s and 403b’s, but NOT earlier. • … [Read more...] about Will Dividend Stocks Help Me Retire Early?
Book Review: “The 4-Hour Workweek, Expanded and Updated” by Timothy Ferriss
Click the image to visit Amazon.comThis is one of the most entertaining and unconventional financial life-style books I have ever read. Not only will it open your mind to a world opportunities that few people even know exist, but it will challenge the status-quo of how you live your life. … [Read more...] about Book Review: “The 4-Hour Workweek, Expanded and Updated” by Timothy Ferriss
