The best retirement advice from my dad, who retired early at 55 - Business Insider

almost as soon as it entered that summer, and not because it was being funneled into a retirement account.

Then I watched my Dad retire at least a decade before many of his peers, and my entire perspective changed. My stepmom retired even younger, after my Dad convinced her to join him in his plan for early retirement.How my parents retired early Both my Dad and stepmom worked in sales and marketing for a high tech company by way of degrees in electrical engineering, so it's worth stating up-front that they both earned salaries that most would consider more than comfortable.1. Set a goal, create a budget, and track your progress

The first thing they did was figure out exactly how much money they'd need to comfortably retire when my dad hit 50 and live off that money well into their 90s. Their retirement budget included a salary equal to their pre-retirement pay and line-item expenses for things likeAfter creating a retirement budget, they worked backward to figure out how much money they'd need to save each year to get there by age 50, taking into account the expected rate of return on their investments.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Retirement saving to be harder in 2020, advice from BlackRock's Rieder - Business InsiderBlackRock's $1.7 trillion bond chief explains why it's about to become much harder to save for retirement — and shares his best advice for doing it successfully Well, apparently both North Korea and Russia are going to kill us with nuclear bombs (so they say). So do I have to save for retirement or not? Many people’s retirement ”plan” is suicide. The current math doesn't work out. Are they going to help or just exploit the desperate?
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Millennials killing things was story of decade, but not their fault - Business InsiderWe need to acknowledge wider economic trends that forced millennials to 'murder' everything from napkins to TGI Fridays.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

5 New Year's resolutions for the workplace, according to a therapist - Business InsiderTry changing up your workplace environment. Take a walk every day, or switch to a standing desk — it can make a big impact.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Money decisions you can feel good about going into 2020 - Business InsiderIt's common to overspend and overindulge during the holidays, but there's still time to get back on track with good money decisions.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Inside Carlos Ghosn's epic fall from superstar auto executive to international fugitive - Business InsiderFrom leading an automaker alliance with hundreds of billions in annual sales to a man on the run, Carlos Ghosn has had quite the past few years.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »