The Great Retirement Con

Authored by Adam Taggart via PeakProsperity.com, Frankly put: retirement is now a myth for the majority…   The Origins Of The Retirement Plan Back during the Revolutionary War, the Continental Congress promised a monthly lifetime income to soldiers who fought and survived the conflict. This guaranteed income stream, called a "pension", was again offered to soldiers in the Civil War and every American war since. Since then, similar pension promises funded from public coffers expanded…

"The Great Retirement Con"

The 401k Maximum Contribution Limit Finally Increases For 2018

401k savers rejoice! For 2018, the maximum employee 401k contribution will increase by $500 to $18,500, from $18,000 in 2015, 2016, and 2017. Meanwhile, the employer contribution limit also gets a $500 increase to $36,500, bringing the total annual 401k contribution limit to $55,000 according to an IRS announcement. For participants ages 50 and over, the additional “catch-up” contribution limit will stay at $6,000, a level that has stayed the same since 2015. It’s interesting the IRS doesn’t want to give older…

"The 401k Maximum Contribution Limit Finally Increases For 2018"

Your Chances Of Becoming A Millionaire By Race, Age, And Education

A million bucks! What a dream. Once you have the cash you can promptly fly to Macau, bet it on black and turn it into $2 million! Or, you can lose it all and spend the rest of your remaining years wondering what were you thinking. Getting to at least one million dollars in net worth is a nice milestone to achieve. I firmly believe the majority of people reading Financial Samurai and other personal…

"Your Chances Of Becoming A Millionaire By Race, Age, And Education"

What Age Do Most People Retire In America?

Given many Americans are in a difficult financial situation with only $17,000 in retirement savings for those between the age of 56 and 61 according to the Economic Policy Institute, you’d think most Americans are never going to retire. The reality, however, is 69% of Americans are out of the full-time workforce by age 66. And roughly 51% hang up their boots between the ages of 61 and 65 according to LIMRA, the Life Insurance and Market Research Association. By age 75,…

"What Age Do Most People Retire In America?"

One Spouse, Two Cars, Three Houses, Four Jobs

There’s a simple personal finance mantra everybody should consider following: one spouse, one car, one house, one job. The idea is that if you stick with one of everything, you’ll maximize its usage, minimize extraneous expenditure, and live happily ever after. We get in trouble when we want too much. But one of everything can get quite boring. Thus, the divorce rate is ~50%. The average car ownership is six years. The median home ownership is seven…

"One Spouse, Two Cars, Three Houses, Four Jobs"

Why Settle For A Good Retirement, When You Can Go For A Great One?

It’s a worthwhile goal to be great at something – top one percent great. Being a jack of all trades, master of none is an excuse many of us use because we aren’t willing to try harder. We know this, so we settle for good enough. Good enough is good enough if you’re content. But Read More… The post Why Settle For A Good Retirement, When You Can Go For A Great One? appeared first…

"Why Settle For A Good Retirement, When You Can Go For A Great One?"

Retirement Savings By Age Show Why Americans Are Screwed

From a personal finance writer’s point of view, I found a pot of gold with the 2016 Economic Policy Institute’s report looking at the state of American retirement. In this report, I’ve come to realize how screwed the average American is when it comes to enjoying a comfortable retirement. It’s perplexing to me why Americans don’t have more in retirement savings given we’ve seen a massive boom in the stock market, bond market, and real…

"Retirement Savings By Age Show Why Americans Are Screwed"

When Income Is More Important Than Net Worth For Financial Freedom

Everything in personal finance seems to go around in circles. In the past, I argued that it’s better to focus on net worth growth over income growth. To their detriment, many people didn’t focus on what they kept, only what they earned. With nothing to show for after a couple decades of work, misery ensues! Given job income is the main source of income for the majority of people, by definition you’ll never truly be…

"When Income Is More Important Than Net Worth For Financial Freedom"

One Of The Biggest Financial Mistakes Early Retirees Make

After five years of early retirement, I realized I made a serious mistake that cost me $500,000+. Let me tell you what happened so you don’t do the same. When I left Corporate America at the age of 34, I thought I was done earning more money for good. Below is the income budget I put together in 2012 to support us for the rest of our lives. Expenses are not listed because we’ve never spent more than we’ve made. First passive income projection for retirement…

"One Of The Biggest Financial Mistakes Early Retirees Make"

Paul Craig Roberts: "Once Only Blacks Were Enslaved, Now We All Are"

Authored by Paul Craig Roberts, The 4th of July is upon us. We will hear all sorts of patriotic BS about how wonderful we are and how thankful we are to our brave military which defends our liberty. Not a word will be said about the destruction by the Bush and Obama regimes of the US Constitution, which once protected our liberty far better than any military action.   Not a word will be said…

"Paul Craig Roberts: "Once Only Blacks Were Enslaved, Now We All Are""