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Category: Retirement

Why Not Retire at a Dollar Amount, Instead of An Age?

Why Not Retire at a Dollar Amount, Instead of An Age?

Today’s post is a guest post by Keith Schindler a.k.a. Shin of MoneyIsNotTaboo.com. If you haven’t checked out his blog before, do it! He’s got lots of great information to share. “So how far are you from retirement?” Most people would quote a number of years, some might say never. Why not retire at a dollar amount, instead of an age? “Retirement: The action or fact of leaving one’s job and ceasing to work.” Well, I have to agree with…

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Your Basic Guide to Retirement

Your Basic Guide to Retirement

Being a millennial, I realize that retirement sounds like a foreign, future concept to most people my age. Retirement? I’m only in my 20s/30s; I’ve got at least 30-40 more years of working left before I can retire. Why would I worry about that now? I want to use my money to enjoy my life now. Why bother working if I’m just going to save all my money and not do anything with it. These are all VERY common thoughts…

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The Power of Compounding

The Power of Compounding

Many people underestimate the power of compounding. What is compounding, and why is it so beneficial? I’m sure most of you have seen those financial adviser commercials that ask individuals when they started saving and if they think they have enough money for retirement. Those commercials are focused on the power of compounding. Compounding, in finance terms, is defined as the ability of an asset to generate earnings (interest, dividends, income), which are then reinvested in order to generate their…

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