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retirement

Here’s how much money 30-year-olds need to invest every month to become a millionaire

[CNBC, Getty Images] Compared to 25-year-olds, people at 30 will have to invest a little more to hit the same goal by 65. For the average person who wasn’t born into a rich family, becoming a millionaire is easier said than done. While some people have no desire to have a million dollars — and that’s totally […]

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This 42-year-old saved $660,000 and moved to Mexico after losing her 6-figure job: ‘I realized I could have a different life’

[CNBC] Roshida Dowe has always been a hard worker. From her early days as a receptionist to her decision to go to law school and spend years as a consumer automotive finance lawyer in Silicon Valley, she is well-accustomed to the grind. But in 2018 at age 39, everything changed when she was laid off […]

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This couple retired at 40 and moved their family to Portugal. Here’s how they did it

[CNBC] From their home in Portugal, U.S. ex-pats Amon and Christina Browning give off the relaxed aura of a couple completely content with where they are in life. And given they spend their days lounging on the beach or working in their garden, it’s not hard to see why. Now 41 and 43, the Brownings […]

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How to Become a Millionaire With Your $175/Week Side Hustle

[The Motley Fool, Getty] It doesn’t take much to turn your side gig into a million bucks. Becoming a millionaire on your regular salary may seem impossible — especially if you need most of your paycheck to cover bills. Side hustles are an increasingly popular way to get ahead. A recent Zapier survey of 2,000 […]

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I’ve made thousands of dollars a month in passive income for the past 5 years: Here’s how

[CNBC] When I got laid off from my job in 2015, I promised myself that I’d do whatever it took to become my own boss and never go back to a full-time job. It was a goal that came with many brainstorm sessions and lots of Excel spreadsheets. In the end, I not only wanted to make […]

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My parents lived by 4 money rules that helped them buy land, give back to their community, and retire comfortably without debt

[Business Insider] My parents had four pillars that guided their financial decisions: invest in yourself, spend according to your values, march to the beat of your own drum, and give back to your community.These pillars helped them buy land and maintain a working farm that fed our family, grow their money through low-cost investing in […]

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How To Pay Off Your Mortgage Using Your IRA

[Forbes, Getty Images] Larry Light: Is there a way to use retirement funds, like an IRA, funds to pay off the bank without having to take a taxable distribution? This money, of course, is invested before taxes, and only is taxed when it’s withdrawn. Stephen Nelson: No, unfortunately. But with a little tax planning and a strategy […]

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Why (and How) I Plan to Die With an Empty Bank Account

[Bloomberg, iStock] A financial philosophy popular among the world’s wealthiest can be a worthy aspiration for us all. If 2020 has taught us anything, it’s that life is uncertain. Through this lens, I’ve started to abandon some conservative personal finance principles. This summer, for example, I went against the adage of “staying the course” with retirement and stuck […]

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3 Reasons Not to Max Out Your 401(k) or IRA

[The Motley Fool, Getty Images] In some cases, maxing out your retirement account could do more harm than good. If you’re aiming to supercharge your retirement savings, maxing out your 401(k) or IRA may sound like a smart move. As of 2020, you can contribute up to $19,500 per year to your 401(k) and $6,000 per year to a […]

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