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How High Earners Can Save Money After Maxing Employer Retirement Plans
Contribution limits on 401(k) and other retirement plans can be frustrating for people earning more than $250,000 per year who want to utilize tax-advantaged investments for their long-term financial goals.
As an employee at a company, you don’t have as much control over retirement vehicles as a business owner does. Your plan may limit you to $23,000 per year if you’re younger than age 50 in 2024. Here is where you can save money once you’ve maxed out your employer-sponsored retirement plan, along with some of the tax implications of each option.
6 Things To Know If You Want To Retire Abroad
I was recently speaking with a couple about what they imagine their retirement would look like.
“We’d love to purchase a property in Italy and retire there,” they said.
More and more, I’ve heard people say that they would like to retire outside of the United States, citing costs of living and access to medical care. In fact, Americans drawing their Social Security benefits abroad increased 84% from 2020 to 2023.
Here are six things you need to know if you’d like to retire abroad someday.
Evaluating The Pros And Cons Of Your Employee Stock Purchase Program
Many publicly traded companies offer employees the chance to purchase discounted company stock at regular intervals through an Employee Stock Purchase Program (ESPP). While some of your coworkers may be telling you this is a no-brainer and amounts to free money, others may be cautious and opt not to participate in the program at all. This is how to weigh the benefits and drawbacks of the ESPP offered by your employer.
How To Overcome Spending Impulses To Stay On Budget
Through television, social media, texting, emails, and even your own friends, people today are constantly being urged to purchase some good or service. You are constantly told this next thing is what you need to increase your convenience, gain status, lose weight, become more beautiful, or have more fun. This bombardment of media can be difficult to overcome and may lead people to completely disregard their financial future to get that next thing. This is a discussion of spending psychology and how you can overcome spending impulses to stay on budget.
6 Financial Tips For People Looking To Buy An Investment Property
Many young people have been told that investing in properties can help them retire early, be their own boss, and create passive cash flow. While the right investment property can help achieve these things, I’ve seen just as many people in compromising financial positions because of a poor investment property purchase. This is a discussion of financial considerations for people who want to add an investment property to their portfolio.
MY BOOK
I seek to make personal financial planning less scary.
This book provides a simple guide for working through life's biggest financial questions facing couples in their 20s, 30s, and early 40s today. It starts with goals-based planning around topics including retirement planning, education planning, and major purchase planning. It then walks through some basics of investment management, options for how to invest, behavioral finance, and pitfalls to avoid. Lastly, it discusses risk management and insurance.
If you are not sure where to start, this book may provide some clarity.