Tag: Retirement
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The 25x Rule
The rule of 25 serves as a straightforward guideline for achieving financial independence, often synonymous with retirement. This principle suggests accumulating savings equivalent to 25 times your planned annual expenses upon exiting the traditional workforce. For instance, if monthly expenses amount to $7,500, totaling $90,000 annually, multiplying this figure by 25 yields a retirement fund…
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Maximize IRA / 401K Contributions
It’s tax season…meaning it’s a good time to understand your financial situation, and that includes your retirement account. Maximizing your IRA or 401K contributions might initially appear counterintuitive—after all, it means diverting funds from your immediate savings. However, the long-term benefits far outweigh the short-term sacrifice. By contributing to your retirement accounts, you’re essentially investing…
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Are you 1 of 26 million?
I was intrigued by a report on the number of millionaires in the United States, encompassing the total wealth and assets of individuals. With the U.S. population at 332 million and California alone housing close to 40 million, I expected the number of millionaires to surpass 26 million. But with less than 10% of the…
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What’s the Magic Number for Retirement?
First and foremost, the concept of retirement is a cultural concept and not a biblical one. In fact, the work of the Lord continues until your last days on earth; it just takes on different forms and seasons as you grow older. However, this post is not about delving into the biblical view of retirement.…
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4 Essential Stock Metrics
If you’re venturing beyond the realm of index funds and embracing a bit of risk with individual stocks, there are four crucial numbers I strongly advise delving into before making any purchase. Although stocks inherently come with unpredictability and risks, dedicating some time to research these four key metrics beforehand can significantly enhance your chances…
Faith, Finance & Fatherhood 