early retirement

You Only Live Once, Right? What You Can Do With This Logic

01.30.2013
you only live once so make the most of it

This following is a guest post from Martin of Studenomics. You only live once. A phrase that’s usually followed by some very careless action. Do you only live once? Is early retirement extreme not an option? What I love about this site is that it explores the possibilities of what can happen if you make the right moves in your youth with your finances. It’s too easy to get caught up with the distractions. It’s okay to do stupid things because you only live once. You got to be dumb because you only have one life to live. Right? Well, [...]

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A Little Active Income Goes A Long Way In Early Retirement

12.27.2012
passive income crossover point

Generating enough passive income to cover the cost of living is the holy grail of early retirement. However, it’s quite difficult to amass that big lump sum to generate enough passive income to live on. People spend more money as they get raises so they need more and more income every year. Early retirement offers a way out of this cycle by forcing us to examine how we make and spend money. While passive income is good, you’ll most likely have to get creative if you want to retire by 40. Most people won’t be able to generate enough passive [...]

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Getting Ready to Make the Break – 1 Year Before Retirement

11.30.2012
Only one year left until retirement

This is part 3 of the nearing retirement series. It’s getting down to the wire with only one year left till retirement. Hopefully, those of us with 1 year left already read the 10 and 5 years from retirement posts and are prepared. If there is a big shortfall, it will be very difficult to catch up at this point. Let’s see what Money Magazine has to say. Savings Money Magazine: With one year left before retirement, savings should be 11.4x household income. Their target retirement saving is 12x your pay when you’re 65. As I said in previous articles, [...]

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Rollover to a Revamped Investment Strategy

11.28.2012
rollover to a revamped investment strategy

Finally!  I finished rolling over my 401(k) to ETrade last week. It was a bit complicated because I had to fill out some paper work for the employer contribution portion of the 401(k). It’s done now and all the funds are in the IRA and Roth IRA at ETrade. I was undecided between ETrade and Vanguard, but in the end I went with ETrade and I’ll rollover to Vanguard in about a year or so. I choose ETrade because they offered me a $1,000 rollover bonus. This is currently higher than the $600 you can get from signing up through [...]

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