The average American has only a little over $200,000 saved for retirement by age 65. It’s a small wonder that 50% of married couples and 70% of individuals receive 50% or more of their retirement income from Social Security. But that doesn’t have to be you. In fact, you don’t even need to wait until you’re 65 to retire. It’s possible you can retire in 10 years – as in … [Read more...] about How to Retire in 10 Years
There’s quite a lot of science behind the concept of delayed gratification. There’s the famous marshmallow experiment, and the Freudian psychoanalysis of the “pleasure principle“. To me, in laymen’s terms it’s simple. It’s forgoing the immediate and easy reward to seek a bigger and better reward in the future. Yes it requires patience and discipline. But as Jocko says … [Read more...] about Master Delayed Gratification, Achieve Financial Independence
"Assuming a 4% withdrawal rate, the average savings of $152k supports only $6k per year of spending in retirement. Tough to live on $500/month, and a demonstration of how dependent the average Baby Boomer will be on their monthly check from Social Security. Unfortunately, 77% of workers are concerned about the viability of Social Security." Read the full post on: Retirement … [Read more...] about Are We Facing a Retirement Crisis?
Let’s start by criticizing my own approach: obtain FI status (passive income that cover expenses) via investing in a low cost, diversified portfolio of index funds during accumulation phase, and withdrawing from it during the “retirement” phase in a sustainable way fort he rest of my life. There are many unknowns here: how long will I live? What’s my desired spending level? … [Read more...] about FIRE is DEAD
Some things just don’t fit into a 2-week vacation! If you have ever dreamed biking through Croatia, taking a coast to coast road trip, volunteering overseas, or taking a month to brush up on your Spanish in Barcelona, you’ll know the struggle is real. Our vacation days are being pulled in a hundred different directions. We often need to catch a flight to visit friends and … [Read more...] about How to Negotiate a Mini-Retirement