3 RULES FOR RETIRING HAPPY
What can you do to ensure you'll be happy after you retire? The answer might seem obvious: Just sock away as much as you can in your 401(k). The bigger your nest egg, the happier your retirement will be, right?
Ref. https://money.cnn.com/2006/01/13/retirement..._0602/index.htm
Retiring / Retirement (Hover)
I have read a great book called the Automatic Millionaire. It gives times on not just putting money away but making sure your expenses are low and your total worth is high. Allot of it has to do with making better house payment decisions so that you won't have one when you retire. The days of just putting some away is gone, you have to really plan these days in order to retire.
It is truly sad that I should be thinking this much about retirement at the age of 28. However, if you don't plan ahead, you could end up losing out on a considerable nest egg come retirement time. I've been looking at these annuity accounts, which provide steady income over a period of time. I also need to look into a Roth IRA account which is one of the best retirement investment accounts other than a 401k. Too expensive? Not really. Think about it as saving $100 a month towards a retirement where you don't have to worry about medical bills, or having to worry about money. In the end, it will be worth it.
International Level: Envoy / Political Participation: 241 24.1%
It isn't about the money, really. I think this is the most important part of the whole article:
QUOTE |
Staying engaged in a variety of activities also increases your shot at an enjoyable retirement. Urban Institute economist Barbara Butrica found that retirees who both worked and volunteered were 13 percent more likely to consider themselves very satisfied than those who didn't. But you can't hustle and bustle your way to retirement nirvana. The boost in satisfaction trailed off for retirees who worked or volunteered more than 200 hours a year, and the positive effect seemed to disappear at 500 hours. |
International Level: Ambassador / Political Participation: 595 59.5%
$1 TRILLION QUESTION: HOW MUCH DO I NEED TO SAVE TO RETIRE?
Question: My million-dollar question is: How much should I be saving each month to be sure I'll have a comfortable retirement? My wife and I earn $145,000 a year combined and our total monthly expenses - which includes the mortgage on our home and an investment property, groceries, utilities and other living expenses - are about $6,500. Can you help me? - Asheesh Chabra, Ashburn, Va.
Ref. https://money.cnn.com/2006/12/26/pf/expert/...eymag/index.htm
LIVE RICH, RETIRE RICHER
We all know the drill: To make sure you have enough green for your golden years, you're supposed to max out your 401(k) contributions, invest in index funds and growth stocks, and not - repeat, not - splurge on that
top-of-the-line Ferrari. All sound advice.
Ref. https://money.cnn.com/2007/03/19/magazines/....biz2/index.htm
How do you make a lump sum of your life's savings last?
Working 26 years in the coal mines allowed Jim Foster to save $500,000 for retirement. But when Foster retires this year, his financial work will have just begun. Now he'll have to manage that lump sum. Foster, of Gillette, Wyo., is part of the steam-rolling generation of 79 million baby boomers, the eldest of whom turn 62 this year, who must decide what to do with retirement payouts that will usually come in one big chunk.
Ref. https://www.usatoday.com/money/perfi/retire...p=DailyBriefing