Retire Well

Saving for your retirement dreams is something on most people’s minds. Some have a rough idea of how much money they need to fund their retirement, while others have a specific number. While this is great, the problem is how do you know if you are on track to reach your retirement savings goals? Many people turn to comparisons. They try to see how others their same age are doing to determine if they are […]

You’ve worked hard for your money your entire life only to have a catastrophic event wipe out all of your financial reserves. Maybe you got divorced, or maybe you lost your job and couldn’t get employed again in a timely manner. Regardless of the cause, you find yourself with the need to start a new beginning and rebuild your finances so you can retire comfortably. That means racing against the clock in order to set

When it comes to income in retirement, most people think of Social Security and taking money from any retirement accounts they have. But there is another option. An annuity. Annuities are a vehicle you can use to not only provide an income, but also protect the money you worked so hard for. And you can take advantage of annuities even before your ever retire. Truth be told, there is a lot to annuities and the

If you are thinking about taking out a loan against your 401k, there are a lot of things you need to think about. On the surface, borrowing money from your retirement money might sound like a smart financial decision. But you need to know that there are risks involved. Read now: Learn how a 401k plan loan cost a reader $1 million dollars And by not properly weighing these risks, you could easily put your

Health savings accounts are becoming more and more popular with employers. The main reason is the cost savings. Health care costs continue to rise and as a result, so do the costs of health plans. It costs the employer less to offer high deductible health insurance to employees, saving them money. And for the right person, an HSA is a great option to pay for medical expenses. But these accounts have both benefits and drawbacks

You are here because you have the option to invest in a 401k plan and just aren’t sure if it makes sense for you. Sure having money for retirement is nice, but it sounds complicated and money is tight. Should you invest in a 401k plan? In this post, I highlight 10 important 401k pros and cons that you need to consider. At the end, I give you my take on whether or not investing

There are multiple roads to financial freedom but are you driving in the right direction? The most important step to financial freedom is understanding what that freedom looks like to you. It might seem like an unnecessary question but too many people follow the drumbeat for financial independence only to give up in frustration. If you set out on a road trip with no destination in mind, you’re going to run out of gas and

With the wide variety and differing complexities of retirement accounts, choosing the right one can be extremely confusing and intimidating. Ultimately, choosing the best account to begin saving for your retirement will mainly depend on what options your employer offers, if you are self-employed, and what your income level is. Regardless of which option works best for you, it is important to begin planning for your retirement today. According to a study by Charles Schwab,

You know to invest in your 401k plan because it is the smart thing to do. But no one is giving you any guidance on how to invest your money. Are you saving enough? Is your money in good investments? The questions go on and on. Wouldn’t it be nice if there was a way to have someone hold your hand to make sure your 401k was at peak performance? There is. Blooom is a

I’ve heard all of the excuses. Understanding your finances is hard. You don’t know who to trust. You’ll get to it tomorrow. I could write over 100 excuses in a few minutes. And they are all excuses, plain and simple. The truth is, financial planning isn’t hard. It does take some work on your part, but you can easily do it. And this post is here to help. I am going to list out the

What could be wrong with a 401(k) loan? Everyone says it’s a great loan because you are paying yourself back! It sounds like a great low risk loan at a great interest rate. But you know the saying “if it sounds too good to be true, it probably is”. Well, I’m about to tell you how our 401k loan cost us $1,000,000 dollars. You see, there are a lot of reasons to not take out

I have come across a handful of magazine articles answering the question, how much money do you need for retirement? Sadly, most people have absolutely no idea how much they will need in order to retire. They see the magazine headlines talking about $2 million dollars and think saving this amount of money is impossible. So they give up before they even start. Don’t do this. You don’t need $2 million for retirement. In many