Laurence Kotlikoff, an economist and writer I admire, recently published an article on CNBC titled A Harvard-trained economist says ‘early retirement is one of the worst money mistakes’—here’s why you’ll ‘regret’ it. While the title is intended to be provocative (aka click bait), the article is well-written and sensible--as Dr. Kotlikoff can be counted on … Continue reading Is Early Retirement a Mistake?
Category: financial independence
Free guide to personal finance
For years, I wanted to write a book on personal finance and financial literacy. I finally found the time and wrote my take on what people need to understand in order to be effective with money. I have gone back and forth about whether to publish the manuscript through traditional means, self publish, etc. I … Continue reading Free guide to personal finance
Misleading statistics on the retirement crisis
The issue of retirement savings in the United States needs more sensible discussion and fewer sensationalist headlines such as The Retirement Crisis is Much Worse Than You Think and Fears of a Retirement Crisis are Overblown - and These Numbers Prove It. Unfortunately, discussions of this topic are rife with simplistic and misleading statistical arguments. … Continue reading Misleading statistics on the retirement crisis
When early retirement doesn’t work out
As a financial professional and an avid individual investor, I have followed the evolution of the Financial Independence / Retire Early (FIRE) movement with considerable interest. I have written a couple of blog posts on FIRE here and here. I just ran across an article saying that one of my favorite FIRE authors, Financial Samurai … Continue reading When early retirement doesn’t work out
Instead of FIRE, consider this
There is an endless stream of articles discussing the Financial Independence / Retire Early (FIRE) movement. The plan is to save a very high percentage of your working income, invest the proceeds, and then retire young and live off of investment income. There is, however, another way to achieve many or all of the benefits … Continue reading Instead of FIRE, consider this
Rethinking earnings and consumption through life
In the United States, many people are re-evaluating the traditional model of working and saving through life. The traditional model is that you get an education and then work full-time until you exit the workforce entirely and live on a pension, Social Security, and/or savings. In recent years, the Financial Independence / Retire Early (FIRE) … Continue reading Rethinking earnings and consumption through life
An optimist’s view of the future of work
Today's workers face challenges that previous generations did not. First, a diminishing fraction of company earnings goes to workers. Second, real job security is largely a thing of the past. Third, employers provide less generous benefits than they used. Workers bear an increasing share of the costs of healthcare and traditional pensions have been replaced … Continue reading An optimist’s view of the future of work
Tallying the ultimate costs of debt
Carrying debt can have costs far beyond the interest paid, something that few people fully appreciate. Debt repayment has substantial opportunity costs, which means that there are decisions that are unavailable because you are repaying debts. A substantial component of these opportunity costs relates to tax benefits. Lost tax benefits The single most important opportunity … Continue reading Tallying the ultimate costs of debt
Thoughts on the Financial Independence / Retire Early (FIRE) movement
The Financial Independence / Retire Early (FIRE) movement is much in the news these days. You can hardly go to a financial website without seeing a headline about someone who "retired" in their 30's. There is, not surprisingly, plenty of debate about what distinguishes retirement from being a professional blogger who writes about FIRE. Much … Continue reading Thoughts on the Financial Independence / Retire Early (FIRE) movement
Geoff Considine on Finance and Economics 