If you are intimidated by the idea of using an online calculator to create a few financial projections you won’t feel that way after you go through this post. We’re going to explore this exciting world together! We’ll look at how you can use these puppies to get a quick snapshot of where you stand […]
Retirement Planning
This category is the heart and soul of Wealth Pilgrim. Here you’ll find a host of information created to help you reach your retirement goals and enjoy the journey. These are nuts-and-bolts articles to help you understand where you are now, identify where you want to be and when you want to get there, and design a roadmap to help you do so.
How To Plan For The Future When You Don’t Have A Crystal Ball
How are you supposed to create a financial or retirement plan if you have no idea what the future holds? Sounds impossible. Everything changes….right? Where you be living 10 years from now? Where will you be working 10 years from now? What will your health be like? How much will it cost you to live? […]
How to Use RMD Tables
If you own a retirement account and you are over 70 1/2 you have to take minimum distributions referred to as RMDs. The amount you need to withdraw is based on IRS formulas that are presented in RMD tables. So those tables tell you exactly what your RMD must be. These are not hard to […]
Tax-Free IRA Rollover Done Correctly – Here’s How
Jane recently left her job and wondered if she should roll her 401k over to an IRA or not. She was frustrated by her former employer’s limited investment choices and limitations. She was right on both counts. What really seemed silly were the trading rules at the 401k plan; if she traded out of a […]
What is the Average Retirement Age….and a Surprise
You might wonder what the average retirement age is from time to time. While I’m going to answer you, I’m also going to suggest you ask a different question that is likely far more important to you. What is the average retirement age? To get this information, I visited the Center for Retirement Research at […]
How To Figure Your Net Worth – And Use It
It isn’t complicated to calculate your personal net worth. I’m going to show you how to do that. But what does net worth mean? And how do you use this information? These are good questions. First let’s learn how to calculate your personal net worth. Then we’ll consider how to use the term. What is […]