Income diversity is important. If you don’t diversify your income, it could lead to financial devastation. I know this from personal experience. In 2008 when the market crashed, not only did my clients get hurt, but as a business person, my income went way down while my expenses stayed the same. Painful and frightening. Thankfully, […]
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.
IRA Restrictions 2015 – A Guide to Your Best IRA
IRAs can be complicated – but they don’t have to be. The reality is, there are only a few rules and limitations to be mindful of in order to make maximum use of the available options. Let’s take a look together and see how straight forward it really is Traditional IRA This is the standard […]
IRA FAQs – All the Answers You Need in Plain English
Even though tax season is winding down, it’s not too late to fund an IRA. But what is an IRA and why should you buy one? How do they work? These are important questions to ask because IRAs are some of the very best ways to secure your financial future. And if you ignore the […]
How To Fix Your Retirement Budget
If you want to retire successfully and not have to worry, mastering your retirement budget is where you should focus your attention. It’s plain to see why this is so. Even if you work after you retire, your spending is what you have most control over. It just makes sense to put your attention there. […]
How to Borrow from Your IRA. Should You?
Let me cut right to the chase; if you need money, the last place to go for it is your IRA. I’ll explain why that is in a minute. At the same time, I understand that sometimes people just don’t have a choice. If that describes you, I’ll also share a few ideas on how […]
The 401k vs Roth 401k Decision
Anyone who says that a Roth 401k or a Regular 401k is absolutely a better deal for you is either misguided, not telling you the truth or a blockhead. There are too many unknowns that are unknowable. You can’t really know which is a better deal with foresight. Worse, the most important variable in this […]