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Early Retirement

401(k): A Complete Guide for Beginners

Time and tide wait for none. What also does not wait is money. The reality of the American dream could hit you hard when you reach your retirement time. As a result, people fall for ignorant retirement mistakes leading to big problems. Especially, when there are bills to pay for a myriad of things, from electricity bills to the medical bills (trust me; no one will be perfectly healthy by that time with the way our lifestyle is going). So, you have to stress not only about your present but also your future. That is where 401(k) comes in.

As the cost of providing pensions have surmounted, the employers are replacing them with the 401(k) Retirement plan. A feasible retirement plan will help you remain monetarily stable and help you continue living your life. After all, little drops make the ocean. How is it different from other old-world investment and pension plans?

An introduction to 401(k):

A 401(k)-retirement plan is a defined-contribution plan. It is a plan in which employees can invest pre-tax dollars, the money before tax is deducted, in the capital markets. Further, the money they have invested gets mature in a tax-deferred way until the time of withdrawal, which is retirement in this case.

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Side Hustles & Earning More

9 Key Freelance Tips for Beginners

A study conducted in collaboration with Upwork and Freelancers Union revealed that 64% of the freelancers find work online.

Considering technology is becoming increasingly common, it’s not that hard to believe. People, nowadays, are taking full advantage of online work opportunities.

However, finding work online can be a bit of an issue if you don’t know how and where to start.

In this article, we’ll talk about freelance tips for beginners. These tips will help you establish yourself in the ever-growing freelance market.

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Side Hustles & Earning More

Thinking of Starting a Business? Three Things to Set You Up for Long Term Success

Our life expectancies are increasing.

The length of our life is longer than our parents, grandparents and great-grandparents.

This is one of the reasons US News & World Report wrote, “Retirement is different now that it was just 10 years ago.”

If you’re on track to a “traditional retirement,” this means your life can last 20-30 years compared to the 10-15 it used to.

Now if you’re looking to fast track retirement, this stage can last several decades.

That’s a substantial difference and has an impact on a few areas of your life.

Since we’re on a finance blog, the obvious one is your finances. You’re going to need your money to last a longer period of time.

It also affords you the opportunity to do things you previously weren’t able to.

Now is a good time to start thinking more seriously about what you want and how you’re going to get there.

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Early Retirement

Interview with Chris Mamula: Lessons Learned About FIRE

Lessons Learned About FI/RE - back of backpacker viewing lakeToday we’re sitting down with Chris Mamula, the primary author of the book Choose FI: Your Blueprint to Financial Independence, to get his take on lessons learned about financial independence/retiring early. Chris retired at 41, and is a welcome part of the FIRE community. Let’s jump right in to the interview.

What’s the biggest lesson you’ve learned about FIRE?

The biggest lesson that I’ve learned is if something isn’t working, change it. Even if change is painful in the short term, doing nothing is more painful in the long run.

Einstein has been credited as defining insanity as doing the same thing over and over, and expecting a different result. I agree. If you want a life that is different from most of the people around you, you have to choose a different path and have the courage to go down it.

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Debt Elimination Personal Finance Product Reviews

Best Student Loan Refinance Companies & Services

The Best Student Loan Refinancing Options - graduation mortarboard, diploma, and piggy bankChances are, the idea of refinancing student loans may have crossed your mind once or twice. So if you’re looking into that, you’ll want to check out some of the best student loan refinance companies and services. Here are a few to consider.

(As always, we work hard to keep this information up-to-date, but since things can change in an instant be sure to check the individual websites to make sure you understand the exact terms and offers before applying. We strive to provide you with valuable information and resources. Opinions are from the author alone, not from any advertiser or partner. Many or all products featured here are from partners, and we earn from qualifying purchases/signups.)

Note that if you refinance federal student loans, you’ll give up benefits like public service forgiveness and economic hardship programs, so it may not be a good idea to do that.

With that said, here are some of the best student loan refinance companies and services!