FILAM FINANCE

The President of the United States and almost all financial planners will tell you that you should not rely on Social Security retirement anymore. Why? Because of the fact that in the next decade or so, the funding for this plan is already depleting.
That is why alternative retirement plans such as 401K, IRA, 457, SEP, […]

This is the third part of the Roth IRA retirement that I am working on. Instead of writing another post on this topic, I decided to refer you to JD’s similar posts at Get Rich Slowly Blog about Roth IRA. He has two very interesting posts that you may find helpful. The last post on his […]

I am in the middle of writing a series of articles that pertains to retirement and Roth IRA. Recently, I am modifying the theme of my blog to share with my readers about all the financial mess during the early stages of my life. I will be starting my FILAM (my past financial illiteracy and […]

If you have to choose between contributing to a 401K or a Roth IRA, then the clear answer is pick the 401k especially if the company is matching (around 3-8%) your contribution. In essense, your contribution for the current year just made a 100% rate of return. Moreover, you can save up to $15,000 per […]

What do low-income households in United Kingdom and United States have in common? This specific demographics for both countries will get penalized for saving for retirement. And here’s how:

It’s amazing how the The US government has done a great job in educating a lot of people not to rely on Social Security benefits alone when they […]

Understanding the power of compound interest shows the benefits of starting your investments and savings plan, preferably your retirement, early. Compound interest means that the interest of your investments will earn interest as well, thus, allowing you to build a bigger nest egg.
There are three key things that affects your retirement fund:

Time
Rate of Return
Contribution/Savings

Of all the three, time is the one […]