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from24/7 Wall St.
5 days ago

Dave Ramsey Says to Save 15% of Your Income for Retirement. Is That Enough?

While Social Security benefits will help you fund your retirement, the fact that they replace only 40% of pre-retirement income means that, by themselves, they cannot provide you with a comfortable standard of living. Unless you're one of the small minority of workers who get a pension from your company, this means you must save enough to cover your costs and live the life you've hoped for in your later years.
Business
Business
from24/7 Wall St.
4 weeks ago

I'm 29 with $45k in my 401k and the calculators are telling me I'll have $4 million by the time I'm 65 - is that really accurate?

Consistent 401(k) contributions and compounding can build millions by retirement, but inflation will reduce the real value of that sum.
fromFortune
2 months ago

The U.S. economy is running even hotter than previously thought, and GDP growth could reach 4% in Q3 | Fortune

Meanwhile, third-quarter growth is shaping up to be hotter. Durable goods orders for August jumped more than expected, according to data released on Thursday. And the personal income and spending report on Friday showed consumption remained healthy in August while also topping forecasts. Given that consumer spending represents over two-thirds of the U.S. economy, the gains more than offset weakness in housing, which remains buffeted by high home prices and mortgage rates.
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#financial-independence
fromIndependent
2 months ago
Retirement

Michael Houghton: 'One of the real joys of becoming financially secure is reaching a point where payday no longer defines your month'

Increasing savings rate combined with compound interest can drastically accelerate progress to financial independence and produce rapid portfolio growth after initial years.
from24/7 Wall St.
6 months ago
Retirement

At 29, I'm Saving $46k from a $113k Household Income-Am I on Track for Financial Freedom?

Saving 40% of income may lead to financial independence, but personal goals and timelines are crucial for adequate planning.
fromIndependent
2 months ago
Retirement

Michael Houghton: 'One of the real joys of becoming financially secure is reaching a point where payday no longer defines your month'

more#financial-independence
fromIndependent
3 months ago

Michael Houghton: From fees to uniforms, here's how we deal with the cost of back-to-school expenses

In 2019, I embraced the FIRE movement and reduced my work hours to enjoy more time freedom while living on a strict budget.
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