It is never too late to plan for your retirement, you can start right now...
Planning for retirement isn’t easy. Everyone knows this, and everyone tries to find out how they can make financial planning less of a burden. One of the biggest problems out there is that learning about personal finance and reading retirement and investment advice is often times too complex to really understand what needs to be done.
Whatever you do, don’t do what I did and leave it until you are 55! I’ve been an entrepreneur for nearly 30 years so I just figured I’d be alright, however, this is one time that “winging it” doesn’t show the kind of love and devotion you want to show that partner who has been with you all those years.
One thing I do know from conducting research on the subject is that very few, if any, can “save” their way to their retirement goals. Most will need to take an active approach and “invest” in a their own side business that brings in additional income, or invest in assets of some kind that bring in income and gain in value.
If you’d like me to explain what I did to accelerate my retirement plan over the past five years, book yourself a call in my online meeting calendar and I’d be happy to invest some of my time in your future! 😉🤝
This is the link you need to click – Founder & Wealth Mentor – James Spurway’s Calendar
And as I wrote below, you can find dozens of sites that will offer you advice about how you get to your retirement goal.
How Much Do I Need to Retire?
Most experts say your retirement income should be about 80% of your final pre-retirement salary.
That means if you make $100,000 annually at retirement, you need at least $80,000 per year to have a comfortable lifestyle after leaving the workforce.
Retirement Savings: The 4% Rule
To generate the $80,000 cited above, for example, you would need a nest egg at retirement of about $2 million ($80,000 ÷ 0.04). This strategy assumes a 5% return on investments (after taxes and inflation), no additional retirement income (i.e., Social Security), and a lifestyle similar to the one you would be living at the time you retire.
Luckily the internet is a treasure trove of well-written, easy-to-digest personal finance and retirement blogs. These blogs are written by industry experts and everyday people who strive to teach their readers how to grow their personal wealth and plan for retirement. I’ve rounded up 24 of the best blogs (in no particular order) that will help you make sense of what you should be doing now to be ready for the future. Whether you are just starting to save, or $1 million in savings, these blogs will set you on the right track.
NerdWallet has become the internet’s go-to place for financial advice. With financial tools and hundreds of expert bloggers at their disposal, they make understanding your retirement options easy, and will give you all of your possible options. They even have a dynamic retirement calculator where you can plug in your age, savings, and income to determine when you can retire comfortably.
Investopedia is the one of the internet’s leading sources of financial content. They have up-to-the-minute news, sound retirement strategies, a financial dictionary that will answer any questions you have about the world of personal finance, and much more. Some of the brightest financial minds have contributed to this blog, so I’m labeling it as a must-read.
Investor Junkie is Larry Ludwig’s way of making the world finance easier to digest. He likes to call it a “shortcut to financial freedom.” Larry spends countless hours researching different topics before providing the most insightful posts that will help you wrap your brain around your financial future. Larry’s reviews are some of the best on the web.
Highya does its research to bring you the most facts, news, and reviews about personal finance products and services. They’ll help you avoid making the wrong decisions that could prove costly as you plan for retirement. Highya is an amazing online community that gives you the honest reports on everything going on in the personal finance industry.
Cash Cow Couple was created by Jacob and Vanessa Lumby, husband and wife, who wanted to teach other married couples about personal finance. Now, it’s a booming blog with in-depth reviews and content that will help you save for retirement. They truly take the time to make sure they’ve done their research before sharing their advice.
Want personal finance advice from an actual expert? Good Financial Cents is a blog written by a Certified Financial Planner, who has written a best-selling book on personal finance. Each post goes in-depth to show you how to reach financial independence. He’ll teach you the rules and limits of a Roth IRA and how it compares to a Traditional IRA.
Investment Zen is a blog that understands the harsh truth: reading about personal finance and investing advice can be pretty boring. That’s why they started this blog to bring more fun to the world of retirement planning. With a great “early retirement calculator,” this blog will have you dreaming of the time when retirement comes for you.
InvestorMint is a relative newcomer on the personal finance scene, but they’ve already made a name for themselves as one of the smartest and comprehensive blogs you’ll find. They’ll help you make smart choices on your path to retirement that you won’t regret.
As the name of the blog suggests, Investing to Thrive will help teach you how to invest without fear and enjoy your life. The owner and writer of the blog, Julie, will teach you how financial freedom can only happen with a solid plan in place. She’ll teach you what you need to know to be ready once retirement comes.
Credit Donkey is one of the best personal finance review sites on the internet. Their goal is to make personal finance fun and easy to understand, so even a “donkey” can follow along. With reviews of IRA providers, online savings accounts, and more, Credit Donkey will help you make the right decisions on the road to retirement.
Bible Money Matters is a Christian personal finance blog. With a wide range of helpful finance-related topics, Peter Anderson’s blog will help you live a life free of debt and financial strain by following his sage advice. With several posts about saving for retirement, Bible Money Matters will help you create a blueprint for success.
Sam Dogen’s blog was started after the 2008 financial crisis as a way for him to make sense of what was happening in the finance world. Since then, he’s built it to be one of the fastest growing, and honest personal finance blogs on the internet. He gives you detailed reviews of financial products that will help you plan for retirement.
Frugal Rules is a blog that focuses on helping people reach financial freedom. With a large staff of writers, and an engaged community, Frugal Rules touches on the most important topics in personal finance. With posts like 7 Simple Ways to Start Saving for Retirement, you know you’re going to get an easy-to-follow, well thought-out post that will teach you all you need to know.
Listen Money Matters gives you actionable advice on how to best manage your money. Creator and head writer, Andrew Fiebert, is an expert in the world of personal finance, and he’ll let you know how to save the most money for retirement, step by step. His motto is you have to work smart, not hard. Follow his smart advice.
It’s never too early to start planning for retirement. Money Under 30 helps people under, you guessed it, 30 plan for retirement. They’ll teach you about how to use credit cards wisely, how to pay off debt, and how to start saving money so you can retire early. They’ll help you get a head start on a life of financial independence.
Want to get the best, most up-to-date information on the best online brokers? Look no further than StockBrokers.com. With in-depth reviews, and well-researched posts, these writers will tell you the truth about which financial products, brokers, and advisors to use.
The Simple Dollar is one of the more respected personal finance sites out there. It’s a place where anyone can go to find the financial advice they need. Each post provides great analysis and will help you understand the financial world around you. They’ll help you invest for a better retirement.
Philip Taylor (PT) is all about finding ways to help make you extra money. It’s a common sense blog by a professional CPA that is focuses on the best way to manage your money for the future. Philip is not afraid to share his personal achievements (and failures) with money so you can learn from his experiences. He’ll help you take action in your own financial life.
Modest Money is the go-to site for investment news that will have an impact on your financial future. Their articles will help you avoid investing pitfalls, and introduce you to new ideas and new products to help you save the money you need for retirement. With a stellar writing staff that brings you diverse perspectives, Modest Money will help you understand investing.
Money Smart Guides is an honest look at personal finance. Everyone’s financial situation is different, and this blog knows that. With a wide array of articles that tackle investing, debt, and building wealth from multiple angles, Money Smart Guides is one of the best personal finance blogs you’ll find.
Want to know how you can trust Mr. Money Mustache? He used his own financial advice to be able to retire at the age of 36. Now he writes this blog to share the secrets on how he was able to accomplish this feat. He’ll teach you how to be frugal, and become a smart-saver. This blog is a great place to learn the ropes on how to grow your wealth.
Financial Mentor is a blog that will teach you step-by-step how to build wealth. Todd Tresidder is the creator of this blog which dubs itself “financial freedom for smart people.” Todd will teach you why retirement planning is more than just 401(k)s and IRAs. Some of the best investment advice to retire early can be found on this site.
Written through the words of someone who has retired at 40 years old, it’s probably a good idea to see what he has to say. Retire By 40 will teach you how to track your finances, become a smart investor, and how to plan ahead for a life of leisure.
The author of My Money Blog, Jonathan Ping, is constantly updating his blog with helpful financial advice. With a mix of reviews, news, and market insights, Jonathan is able to weave his own personal financial journey to show you how you can plan ahead the right way.
Millennial Money is a blog by Grant Sabatier, who went from being unemployed to a millionaire in just 5 years by saving and investing. The blog is a great resource for people wanting to learn how they too can learn how to build towards financial freedom. Grant even provides a course for you to learn directly from him.
Source: Part of this story was originally published by Investopedia at this link – https://www.investopedia.com/retirement/how-much-you-should-have-saved-age/