“How should I invest after I retire?” People ask me this all the time. In fact here’s an email I received not long ago from “RM”: “When I retire later this year should I keep my 457b funds in a fixed account currently earning 3.5% or move them to Vanguard which I currently have an […]
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 Make Moving Abroad Work
Why not turn your dream of moving abroad into reality? Many people I know have done just that. Some of my clients have retired overseas. And this is a very popular choice for people who don’t have enough money to retire in their current location. Other people I know pick up and go while they […]
Why a DRIP is a Great ROTH IRA Investment
As we all know, one of the best ways to amass a large retirement savings nest egg is by consistently saving small amounts of money over time. That’s why a great ROTH IRA investment is a DRIP. In fact, over the past decades, one of the most popular methods for building a substantial retirement portfolio […]
What You and Your Kids Must Understand About the Roth IRA
If you have children, do yourself and them a favor; teach them about the Roth IRA. Don’t do this because they are your Roth IRA beneficiary. Encourage them to own their own Roth accounts. If you do, they’ll get a huge head start when it comes to understanding how investments work. They will also […]
What Happens When You Reach the Required Minimum Distribution Age?
When you turn 70 ½ you reach the required minimum distribution age (RMD). That means you must withdraw a certain amount from your IRA and most other retirement accounts as well. That’s right. Even if you don’t need or want the IRA income, you must take out a minimum amount or the IRS will become […]
Roth vs. Traditional IRA: Once You Retire, Which Is Best?
How does a retired person approach the issue of Roth vs. Traditional IRA? Dave sent an e-mail asking this very question: Why should I assume I will be in a higher tax bracket in retirement? I am planning (with luck!) to have minimal expenses in retirement (hoping to pay off mortgage, etc by then) so […]