Live. Work. Retire. Smart.
Code 72(t), Section 2, also known simply as ‘Rule 72(t)’ is the ticket to retiring early. Utilizing this provision in the tax law, a diligent saver can start taking money out of their retirement accounts prior to the age of 59 and 1/2 years old. In fact, they can take money out at any age provided they follow some critical rules.
There can be advantages, particularly in certain economic environments, where it can make perfect sense to hold on to that car note even if you have the money to comfortably pay it off. There are always two sides to every coin and that certainly applies to whether to pay off your car, truck, boat or whatever you have that gets you from one place to another.
For a lot of reasons, it could make sense to pay off your car. To many folks, it may even seem obvious, but is it really? In this article we will try to pinpoint the exact reasons, and thus benefits, it may be a good idea to pay off that car note.
During the height of the first wave of the pandemic my wife started playing a video on YouTube about a family that sold everything and moved into an RV to start a new life. Little did I know at the time that 2 months later our young family of 4 would be doing the same thing. What would also change would be my entire outlook on our finances.
This calculator for Compound Interest refers to the ability of a certain amount of money (the principal) that grows with interest over a certain time period… let’s say a year. Then the following year, the original amount plus the interest grows with even more interest. When this happens for multiple periods or years and the interest is added year after year, we call this compound interest. It is by far the easiest way to ‘make money with money’
It is important to know how a business that may dealing with a large sum of your money turns a profit. 0-Commission Brokers like Robinhood have made a name for themselves for ‘democratizing the stock market.’ But how exactly are they able to do this without charging you a commission?
Whatever the case may be, the ability to actually save one million dollars is really quite achievable if approached methodically. We will use these steps to illustrate what it takes:
Share on facebook Facebook Share on twitter Twitter Share on linkedin LinkedIn Share on pinterest Pinterest Table of Contents As a child growing up it was common for my parents to have a yard sale that encompassed our entire driveway leading all the way up to our interior garage door. While some neighborhoods still schedule[…]
Every year, beginning in the Fall, the Internal Revenue Service (IRS) takes a hard look at how the cost of living has changed for retirees from the previous year and often makes an adjustment to the amount employees and employers can make to 401(k) accounts (this also usually includes 403(b) and Thrift Savings Plan (TSP) participants as well).
