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Save early save often

Dan Olsen
Anyone looking to retire early (especially millennials) always take advantage of your 401k if available or have automatic deductions to a Roth IRA. Even if just $25 a week or month it adds up and you can retire in your fifties. As pay increases, up your contributions. I'm 56, worked a good blue collar job and just hit the $2m mark. Einstein said the 8th wonder of the world was compounding interest. Take advantage!Read More...
Last Reply By Dan Olsen · First Unread Post

Social security opt out

My recent employer is one of the few who have opting out of social security as an option. I have the opportunity to make a one-time election to drop FICA and deposit my money into a private retirement account. I'm 41 and have more than 40 quarters in the regular system. We currently save over 15% of our income for retirement, but unfortunately, we started late. The employer will also pay for a long-term disability policy to cover the fact that I'll be losing my disability benefit. I'm having...Read More...
Last Reply By Karena Andrusyshyn · First Unread Post

Choosing a Financial Advisor and Investment Bank

Hello Penny Horder Community: I am new as of yesterday and wanted to get info on how to choose a Financial Advisor, tax accountant and Investment Bank. We are about to inherit a large sum (high 6 figure) and need advice. I am 63 and my husband is 66. I work in Boston currently and am not sure when to retire. Any suggestions are welcome!Read More...
Last Reply By All we need is love! · First Unread Post

Retired at 32

I was medically retired from my job due to a chronic medical condition two year ago. I was fortunate enough to have planned for this possibility by choosing an organization/entity that had phenomenal disability retirement benefits. I love not having the obligation of working anymore, but I must admit that it can get difficult because everyone else is working & thriving in their careers. Are there any other retirees in their 30’s, or am I one amongst none🤷🏽‍♀️? What have you implemented...Read More...
Last Reply By Moore Income · First Unread Post

A way to earn to retire

My wife and I are retired and rent out part of our home to members of our family, it has brought extra income to add to our retirement income, This if course isn't for everybody and it does come with challenges, sometimes a lot of them, , but as we get older and our physical abilities aren't the same anymore, it's nice to have someone here that is younger to help us with things that we can't do as easily. Anyone who would think about doing this can ask me specific questions about how to...Read More...
Last Reply By Joel · First Unread Post


I retired in 2015 from a corporate position. After a few weeks I went to elementary school to deliver lunch to my grandkids and I was asked to work by the principal. I started at the school and several years later I am still working. I have at least a few days off a month, I do not have to attend meetings or plan lessons. I have the summers off, and if I want to work full time it is available. They have a great benefit package with a 7% matching fund. It takes 5 years to be vested. This job,...Read More...
Last Reply By Moore Income · First Unread Post

Do You Invest In An IRA/ROTH IRA? Why or Why Not?

Moore Income
I personally opened a couple different ROTH IRA accounts with an online platform which ended up saving me from having to pay in taxes due to the credit I received from paying it. I am wondering if there are any other Penny Hoarders who also have an IRA or ROTH IRA and what are some of the benefits you have received for having it or if there is anything you dislike about it. Also, if you do not have one, what is keeping you from getting one?Read More...
Last Reply By Moore Income · First Unread Post


David P Miller
I am 64yo, and receive 3 monthly checks. SSDI, VA Disability, and a tiny pension from my job. I will be eligible for Medicare on April 1, 2019. Social Security just sent me a letter stating they will be withholding $135.50 from each SSDI check. This is NOT supplemental insurance, like Part B or Part D or whatever it is ... $135.50 is just the basic premium. I don't need Medicare ... I have all the health care I need for free from the Veteran's Administration, and all I have to provide is...Read More...
Last Reply By RayB · First Unread Post

Si, Si Senior ((50+))

It wasn't that long ago that AARP began stalking me. At fifty years of age, I wasn't quite ready to think about aging or retirement. I figured that I had another fifteen or more years to become debt-free and save for supplemental retirement income. That's plenty of time, right??? About three years ago I became disabled from work, still not having done anything to tackle that debt nor save for retirement so it was a definite reality check as my household income plummeted by more than half,...Read More...
Last Reply By FreebiePharm · First Unread Post
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