Retirement Archives - New Trader U

7 Signs You Will Have A Comfortable Middle-Class Retirement

Personal Finance, Retirement / Steve Burns

A comfortable retirement is a common aspiration for many, especially those aiming for a stable middle-class lifestyle post-career. While the path may seem filled with uncertainties, clear indicators can signal whether you’re headed in the right direction. Understanding these signs is crucial to achieving financial stability and ensuring peace of mind in your golden years. […]

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Traditional vs. ROTH IRA – Which Should You Choose?

Retirement / Steve Burns

The choice can seem daunting when deliberating between traditional and Roth IRAs for your retirement savings. These two types of Individual Retirement Accounts are fundamental tools in strategic financial planning, each offering unique benefits and considerations. In retirement, where future financial security is most important, understanding the nuances of these retirement options is critical. This

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Here’s How Your 401(k) Is About To Change

Retirement / Steve Burns

As we navigate the ever-evolving landscape of retirement planning, it’s crucial to stay informed about the latest shifts and modifications in 401(k) plans. These changes, set to roll out in the coming years, are poised to significantly alter how we save for retirement, impacting everything from automatic enrollment to contribution limits. In this article, we

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5 Hard to Break 401k Habits

Personal Finance, Retirement / Steve Burns

Saving for retirement through a 401k plan provides excellent benefits – tax-deferred growth, employer matches, and more. However, some common pitfalls investors can fall victim to can seriously hamper your 401k performance. Awareness of these habits and intentionally avoiding them can help ensure your 401k works maximally for you over the long run. Saving for

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Average 401k Balance 2023 By Age (New Data From Fidelity)

Retirement / Steve Burns

Navigating the landscape of 401k balances in 2023 can be a complex yet crucial aspect of financial planning. With new data released by Fidelity, understanding how these balances vary by age has become more accessible, offering valuable insights for individuals at different stages of their retirement planning journey. This article delves into the intricacies of

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How Much Do You Need To Retire: What The Experts Say

Personal Finance, Wealth / Steve Burns

Regarding retirement, the most common questions asked are “How much do I need?” and “How should I save or plan?” Financial experts and gurus often provide guidance but have many different philosophies. While setting retirement savings goals and withdrawal strategies can seem complex, established frameworks simplify key factors like savings rates, income replacement ratios, risk

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Dave Ramsey Says the 4% Rule is Ridiculous and 10% Withdrawals are Possible

Personal Finance / Steve Burns

The 4% rule is a well-known guideline for retirement withdrawals. It states that retirees can safely withdraw 4% of their nest egg each year in retirement. However, popular finance personality Dave Ramsey thinks this rule is overly conservative. He believes withdrawal rates of 6% are a better starting point upwards of 10% are reasonable for

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How to Create a 1 Million Dollar ROTH IRA

Retirement / Steve Burns

Saving a million dollars for retirement may seem impossible, but it’s achievable through the diligent use of a Roth IRA. Building up a Roth IRA to reach $1 million or more by retirement is possible if you start early and use the right strategies. The benefits of tax-free growth in a Roth IRA make the

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So, What’s Your Financial Independence (FI) Number?

Personal Finance / Steve Burns

So, you’re curious about financial independence and that elusive FI number, huh? Well, you’re in the right place. Understanding this critical figure is like having a financial GPS guiding you through the maze of savings, investments, and lifestyle choices. This article will explore why this number is so crucial, how to calculate it, and what

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Is $3 Million Enough to Comfortably Retire On?

Personal Finance / Steve Burns

Retirement is a significant milestone that many people eagerly anticipate. However, the financial uncertainties that accompany it can be overwhelming. One of the most frequently asked questions by those approaching retirement is: “How much money do I need to retire comfortably?” While $3 million is substantial, its adequacy for a comfortable retirement is influenced by

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