Understanding Financial Independence, Retire Early (FIRE)
Brought to light from the 1992 book Your Money or Your Life by Vicki Robin and Joe Dominquez, the Financial Independence, Retire Early (FIRE) community was born as a movement that analyzes spending in terms of working hours as the ‘payment.’ For example, if your hourly pay is $12,
Working Smarter, Not Harder: Leveraging Your Life Insurance Policy
An unconventional strategy for retirement, to maximize your life insurance policy is premium finance. Premium finance is where policyholders will pay substantial premiums via borrowing from a third-party lender—tying up the bank’s money versus your own capital. With some premium finance loans regular payments may begin shortly after the
International Living During Retirement
After having a taste of the working life and some traveling, retirees often consider living on foreign soil. Panama and Costa Rica are the two most sought out locations for retiring outside the U.S. If you are thinking settling aboard is in your future, the following are items you
Self-Employed? Consider Self-Directed Retirement Plans
Self-employment is a beautiful thing. It offers a certain type of freedom, but it adds the stress of having to fund your own retirement unlike an employer providing a traditional 401(k) plan. Depending on your circumstances, certain self-directed plans may fit your business and retirement goals more: Traditional or
Combatting the Blues in Retirement
From working years to the freedom years, retirement is a major life change. An era of structure is met with no given structure. This life change is a major transition for many retirees, and it is important to not only prepare your financial portfolio but take steps to tend
Retirement Security & Behavioral Finance
Your mind is wired with cognitive biases that influence your decision making—something that does not make planning your retirement as you wish and need easy. Behavioral finance studies the impact cognitive functions, social, and emotional factors have on financial decision making. Understanding this can increase overall financial health and