Latest news with #RothIRA
Yahoo
15 minutes ago
- Business
- Yahoo
Ramit Sethi: Reach These 9 Major Money Milestones Before 40
As you go through different decades in life, your money goals and priorities will likely change. For example, you might spend your 20s figuring out how to manage student loans and budget your limited income, while you might focus more on saving and paying down debt in your 30s. Read Next: Learn More: According to money expert Ramit Sethi, you should reach some key milestones by age 40 that will make a big difference in your financial security and wealth. In a recent YouTube video, he discussed nine goals that won't require obsessing over every purchase or giving up what you love. Also see two reasons saving less is the secret to building wealth, according to Ramit Sethi. 'If you're carrying debt above 6% interest, you are burning cash every single day,' Sethi said. Federal Reserve data showed that credit cards (21.37%), personal loans (11.66%) and auto loans (8.04%) had average interest rates above that threshold in February 2025, the most recent data available. Besides the money lost to interest, your monthly payments steal from your investment opportunities. Sethi recommended looking at your debts and interest rates and creating an aggressive debt payoff plan. Pick the debt avalanche plan to save the most on high-interest debt or the debt snowball plan to wipe out the smallest debts first. Check Out: Whether you unexpectedly lose your job or face an expense that blows your budget, an emergency fund will cover you and help you prevent needing to take out debt. Sethi suggested saving six month's to one year's worth of your main expenses, offering more security and flexibility than the usual savings guideline of three to six month's worth. Lowering expenses and finding extra income opportunities will help you build up your reserves faster. Sethi said you should invest consistently by age 40 to get rich and recommended an automated and 'boring' approach. He recommended investing 10% or more of your income, maxing out tax-advantaged retirement accounts like your 401(k) and Roth IRA, and using automatic transfers. He also encouraged annual contribution increases of 1% to accelerate building wealth. Sethi discussed how it's more common to get wealthy by investing what you earn at a job than to win the lottery or a big settlement. So boosting your skills, value and earnings potential is smart. Besides making yourself more valuable at your current job, you can consider new career options that pay more and seem fulfilling or interesting. Sethi suggested interviewing five experienced professionals to learn about their career paths and see what might appeal to you. According to Sethi, you must determine how much money you aim to have and the reason. Maybe you want to become a millionaire to enjoy an early retirement, live a certain lifestyle or give freely to others. 'This is important to know what your rich life is because if you don't know what that money is for, then you are simply wasting your life chasing a number,' Sethi said. Combining finances with your partner is a suggestion that many other financial experts, including Rachel Cruze, also support. Otherwise, you risk getting into more arguments and potentially making financial decisions that one of you won't agree with. Sethi advised a joint approach where you keep each other current on everything from your income and expenses to investments and debts. He encouraged talking about money together monthly, tracking important numbers in an app or spreadsheet, and monitoring progress toward money goals. Plus, you want to avoid leaving money decisions to one person. 'This one is underrated, and honestly, it's one of the most powerful moves you can make towards building your rich life,' Sethi said. Making this list involves thinking about what you don't care about so you can direct your money to the right things. Sethi recommended listing three things that are a 'no' and three things that you want to buy without regret. Moving forward, focus on reducing expenses that are related to your list of 'no' items. You can update your list as your preferences evolve. While Equifax recommended having just two or three credit cards, some people have many cards they might use to gain different perks or earn targeted rewards. Sethi explained that this complexity makes everything harder to track, and some of your cards may have predatory interest rates. He suggested sticking to one or two cards that offer good rewards, canceling bad cards and watching your interest rates, which become less important when you're not carrying a balance. Besides simplifying your finances, this move could help you avoid running up as much debt. 'The goal is not to create a plan that's in concrete, locked in forever,' Sethi said. 'It's to create a direction, something to aim towards and to update it as you grow.' While you might have a certain financial vision when you're younger, you should reconsider it as you grow older. Sethi recommended an annual review where you think about what you want now, what you no longer care about and what lies next in your plans. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Ramit Sethi: Reach These 9 Major Money Milestones Before 40
Refinery29
9 hours ago
- Business
- Refinery29
A Week In Boston On A $282,000 Household Income
Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We're asking real people how they spend their hard-earned money during a seven-day period — and we're tracking every last dollar. Today: a research manager who has a $282,000 household income and who spends some of her money this week on drain snakes. If you'd like to submit your own Money Diary, you can do so via our online form. We pay $150 for each published diary. Apologies but we're not able to reply to every email. Occupation: Research manager Industry: Government Age: 32 Location: Boston, MA Salary: $102,000 Joint Income & Financial Setup: ~$282,000. This includes my and my husband K.'s W2 incomes, rent from a rental property (which basically just covers the mortgage), and rent from a close friend who lives with us (she was away for most of the week that I kept this diary, but we all love spending time together). We also resell some clothes and furniture, which is inconsistent so we don't count it as income. K. and I have joint checking and savings accounts, as well as individual checking and savings accounts. Given our similar incomes, we contribute the same amount to all our joint accounts. Assets: We have joint and personal checking accounts (totaling $1,805) and joint and personal HYSAs (totaling $13,120). My additional personal accounts are: traditional IRA: $67,295; 457(b): $42,000; taxable brokerage: $29,227; Roth IRA: $21,078; and ~$35,000 in a pension account that I don't have access to yet. K. has ~$180,000 across his 401(k) and Roth IRA. We also own two homes together (~$900,000 each), a car (~$34,000 value), and a motorcycle (~$15,000 value). We have mortgages/loans on all but the motorcycle. We also have a 529 plan for our toddler ($2,380), but do not count this toward our assets. Debt: $1,244,000 — this is mostly mortgages, plus a $33,000 car loan, ~$70,000 in student loans, and ~$1,000 in hospital payment plans. Paycheck Amount (Biweekly): $4,940 (our salaries, minus retirement and health insurance). We also receive $4,900 in rent monthly. Pronouns: She/her Monthly Expenses Housing Costs: $3,700 for mortgage plus HOA for a four-bed/three-bath home (increasing soon to $4,050, due to an escrow shortage — proof that your mortgage amount can fluctuate!). Loan Payments: Home #2 mortgage: $3,300; student loans: $480; car payment: $1,000. Child Care: $500 (we are lucky to have child care support from a family member, Z.). Gas & Electric: ~$130 Phones: $95 (we also pay for Z.). Internet: $113 Pet Insurance: $88 Dog Food: $70 529 Plan: $50 Compost: $20 Subscriptions: $45 (Netflix, Disney Plus, dog chip, Apple storage, misc.) My Pension Contribution: $820 My 457(b) Contribution: $500 K.'s 401(k) Contribution: $732.92 Health/Dental/Vision Insurance: $800 for health (for the three of us; comes out of K.'s paycheck); dental/vision is $12. Medical Payment Plans: $120 My Gym: $60 (K. pays for his gym yearly in a lump sum). Donations: $52.50 (I pay for this). Support For Family Member: $10 (K. pays for this). Yearly Expenses Car Insurance: $1800 Motorcycle Insurance: $225 (K. pays for this). Water Heater Maintenance: $250 Amazon Prime: $69 Engagement Ring Insurance: $123 (I pay for this). Credit Card: $95 Costco Membership: $60 Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it? To be honest, I didn't realize there was another option. My parents both have degrees from their home country so they talked about the importance of education, and I always did well in school, so it felt like a natural path for me. I went to an expensive private university and received significant financial aid along with a lot of local and national scholarships, which covered almost all of my tuition, room, and board. I don't remember exactly but think I may have left college with $10,000-$15,000 in loans, which I paid off as quickly as possible. I also received my master's for free while working as a research assistant and receiving a stipend. Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances? We shopped at secondhand stores, bought mostly sale items, and always used coupons at grocery stores. I think our conversations were mostly about the need to work hard, not overspend, and look for discounts. We didn't talk about investing until I was in grad school (when I prompted my parents about it) and as a result I ended up putting my savings in CDs for about five years — I wish I had known to invest it in index funds instead! Looking back, I was so naïve about money growing up. I assumed anyone who had a full-time job was able to pay for their necessities and that people picked careers based on their talents and interests rather than the income potential. I was very anti-money, anti-spending until sometime in my mid to late 20s. I don't know why it took so long for reality to hit. What was your first job and why did you get it? My parents wanted me to focus on academics growing up, so I wasn't allowed to work during high school. My first job outside of occasional babysitting was at a YMCA camp the summer before college. Did you worry about money growing up? My parents tried to give my siblings and me everything we needed and most of what we wanted, and we had a great middle-class life. But I'm sure some of the priorities they had for us — like regular travel, enrolling us in sports and other activities, and giving us generous gifts for birthdays and Christmas — brought on financial stress. My parents also have different money habits and earnings, and we experienced the tension of this. I knew they were frequently stressed about money, so I always tried to add as little financial stress as possible. This manifested as me trying to be fiercely self-sufficient, not asking for extras like attending school-organized trips, spending my senior year of high school applying to every possible college scholarship I was eligible for, and compulsively saving even through my mid 20s (doing things like going to restaurants with friends and getting only water, which I now understand were quite extreme habits that made others uncomfortable). Do you worry about money now? Recovering from a scarcity mindset and lifelong cheapness, I actively remind myself that although my frugality served me well earlier in my life and I'm proud of it, I no longer need to live that way. With that said, I worry in some ways. My husband K. and I have an income and net worth that look great on paper, but we live in a high cost of living area, don't have a lot of wiggle room in our expenses at the moment, need to do some major home renovations, and expect to financially have to provide for one or both sets of our parents as they get older. In addition, we want money to be a tool rather than a stressor, in contrast to how we both grew up. All of the above leads us to want higher-paying jobs, but this is complicated by today's job market and figuring out if it makes sense to give up our current flexibility for more demanding jobs (while we have young kids). I'm also interested in pursuing FIRE (financial independence retire early) to relieve ourselves of financial stress and get to make choices like taking a sabbatical from work and working part-time before traditional retirement age, but I know this requires more income. At what age did you become financially responsible for yourself and do you have a financial safety net? I was financially responsible for myself when I graduated college in that I paid for all my expenses myself (besides staying on my parents' health insurance until age 26). However, I lived with family for eight months when I struggled to find a job after grad school. Since finding that first post-grad job at age 24, I've been entirely financially responsible for myself. K. and I are both financial safety nets for our families, and we are each other's. Do you or have you ever received passive or inherited income? If yes, please explain. My parents unexpectedly gifted us $10,000 for our wedding, which covered the cost of our wedding. Day One: Saturday 5:30 a.m. — My 1.5-year-old toddler, Q., wakes up crying. Guess it's an early day, so we play, have breakfast of over-medium eggs with hummus and toast, and get ready for the day. 9:30 a.m. — Walk to the park with my husband (A.), Q., and our dog and stop at Dunkin' on the way. K. gets a sandwich-hash-brown-coffee combo and I get a chai latte. I'm not sure why I thought this was a decent choice, but the almond milk and chai syrup combination was not doing it for me. I generally try hard not to be wasteful, but after a few sips I had to dump this out. In my defense, we rarely order from here! $10.47 10 a.m. — Q. has been on a one-nap schedule for a few weeks but she falls asleep in the stroller during our walk. A perfect sunny day for an outdoor nap! We alternate throwing a tennis ball for our dog and playing on the playground with Q. once she wakes up, then head home. 1 p.m. — Have lunch and put Q. down for another nap, then cuddle and nap with K. Much-needed naps for everyone! 6 p.m. — Head to a concert with a friend while husband puts Q. to bed. Venmo my friend for my ticket. $50 9:30 p.m. — The concert is fantastic! I head back home when it finishes and am finally in bed at 11:30 p.m. after a great day. I haven't done many evening activities with friends since Q. was born, so tonight feels extra special. Daily Total: $60.47 Day Two: Sunday 6:30 a.m. — I meet a friend and her toddler at a café, and we catch up while our kids play, messily (but happily) drink smoothies, and wave to strangers. We get smoothies and matcha. $20 10:30 a.m. — Q. takes a surprise nap in the car so I drive around and head to the hardware store, sitting in the car until she wakes up. When she's awake we go in to pick up paint. $25.49 12 p.m. — Eat lunch with Q. (lentil stew with rice) and walk with her to a new playground. Later in the afternoon, I put Q. down for a nap, clean up the house, and do an online Pilates class. 5 p.m. — Feed Q. dinner. Today it's a quinoa and beef meatball, broccoli and carrot soup, and strawberries. I like to batch prep and freeze various meals and snacks, so meals are easy to put together (things like turkey meatballs with spinach, rice with beans and beef, chicken soup, noodles with a mixed vegetable sauce, oatmeal bars, veggie and cheese muffins). 6:30 p.m. — Start the bedtime routine, giggling with Q. about belly buttons and funny sounds. Put Q. to bed while K. picks up Mediterranean plates (one falafel, one meat) for us from a local restaurant, za'atar, spinach boreka, and baklava. We hang out for the rest of the night in between cleaning up from the day and taking our dog out. $59.94 Day Three: Monday 6:30 a.m. — Got to sleep in today, thanks to Q.'s wake-up time! Hang out in bed with K., Q., and Q.'s requested pre-breakfast snack (bread). An hour later, Q. and I make a smoothie using cottage cheese, strawberries, kiwi, and pear. She munches on a bit of everything and puts things in the blender. She loves doing this recently, which makes me happy because I really want to make cooking fun for our kids! We have our smoothie with pancakes for breakfast. 8:30 a.m. — Log in for work when our family member, Z., arrives to help with child care. We're grateful to have Z.'s support on weekdays while we work full time. Work a bit, then take our dog out for a quick walk. 10:30 a.m. — Take a rare couple of hours off during the day and head to a 90-minute massage with foot reflexology! K. had found this fantastic place on Groupon that has a more relaxing, upscale vibe than my usual favorite in Chinatown. Get a prenatal massage (my first!) and feel pleasantly surprised at the good pressure my massage therapist uses. The Groupon was previously paid for, so I add tip. $26 2 p.m. — Back home for lunch and another couple hours of work updating interview guides, designing study protocols, and planning focus groups. K. buys something on Amazon. $7.49 5:30 p.m. — Log off and quickly prep Q.'s dinner. K. feeds her while I take our dog out and put away laundry. Then K. heads to the gym, I give Q. a bath, we play as she learns to give kisses and thinks it's the funniest thing ever, and we read books and sing songs. She falls asleep at 7:15 p.m. K. stops at the grocery store to buy sliced cheese, tomatoes, cookie dough, bananas, and clementines. $33.26 8 p.m. — Scroll on my phone for too long but eventually mobilize for an online Pilates class. I'm loving Move with Nicole and Pregnancy and Postpartum TV on YouTube lately! 9 p.m. — Prep Impossible Burgers and salad with K. and eat together while chatting about friendships we've built across different phases of our lives, and how special it is to have friends from childhood who've been part of our most awkward times. Sleep at 10:30 p.m. Daily Total: $66.75 Day Four: Tuesday 6 a.m. — Q. cries and calls for us but stays laying down. This has been new for the past week as she adjusts to her new one-nap schedule. We get her at 6:20 a.m. and she eats a banana and tangerine in our bed, and we all play together, read, and listen to music. There's a whole lot of 'Wheels on the Bus' and 'Baby Shark' in our lives lately! 7:30 a.m. — Prep tomato scrambled eggs with cheese in a tortilla for our breakfast while Q. munches on an apple in her kitchen tower next to me. We eat together then get ready for the day (lotion, get dressed, brush teeth and hair). Z. arrives at 8:30 a.m. so I get dressed, log in for work, and clean up the kitchen from breakfast. 9 a.m. — Handyman arrives to fix some things in our bathroom; I spend a couple hours working. $200 11 a.m. — Take our dog for a walk while listening to the Financial Feminist podcast — one of my favorites! When I get back I chat with K. about HELOCs. We are planning on taking one out for needed home repairs on our rental property but aren't looking forward to the extra payments. I love the idea of a cash-out refinance to cover renovations, but we have a great mortgage interest rate right now and changing that unfortunately wouldn't make financial sense. 12 p.m. — Have a few meetings, and after a few hours take an unexpected nap. Unusual for me but much-needed during pregnancy! I'm right at the end of my first trimester, and the trend in my pregnancies seems to be major exhaustion in the first trimester. 5:30 p.m. — Prep Q.'s dinner and feed her (turkey meatballs, English muffin, tabbouleh, shredded carrots), then head to the gym! I was in a workout rut postpartum (motivated but uninspired, which led to unstructured workouts) but became focused and energized once I committed to sprint triathlon training. I did that for about three months before getting pregnant again (and endlessly tired and bloated), so my workouts are triathlon-lite. I run a few miles, getting a random nosebleed partway, then finish my workout with some weights. 8 p.m. — Stop at the grocery store on my way home to buy strawberries, zucchini, cabbage, beef patties, potato chips, and cheese. When I arrive home K. and I make burgers with salad and hang out. I plan most of our meals and aim to mix up what we eat for variety of nutrients and flavors, but we're having the same dinner as yesterday because it was good, easy, and healthy enough. $36.07 10 p.m. — Take our dog out and shower while K. cleans up, and we head to bed at 10:30 p.m. Daily Total: $236.07 Day Five: Wednesday 5 a.m. — Q. cries and we watch her on the monitor hoping she'll fall back asleep. She finally falls back to sleep around 5:45 a.m. We get her at 6:30 a.m. and she hangs in bed with us while reading and eating a banana. 7 a.m. — Get ready to head into the office, struggling to find clothes that don't show I'm pregnant. This is especially hard in my second pregnancy, as I'm showing much earlier than in my first. 8 a.m. — Have breakfast with Q. (a smoothie with strawberries, Greek yogurt, cottage cheese, and chia seeds) with peanut butter toast. K. finds a new leak in our basement from the tankless water heater (we had the yearly maintenance done last week), so we'll have to re-contact our plumber. 8:45 a.m. — Head to work on the bus then the T (Boston's subway). This trip costs $2.40, but I use my pre-loaded Charlie card (Boston's commuter card). 9:30 a.m. — Arrive at work, grab a seltzer, and crank out some work for a few hours. I munch on TJ's dark chocolate-topped rice cakes while working. 12 p.m. — Pizza at work! 1 p.m. — Add some money to my Charlie card and take the T to my ultrasound and OB appointment; K. drives to meet me there. $20 2:30 p.m. — We have a long ultrasound in which the tech had a lot of challenges finding what they needed, followed by a meeting with the OB. We got some inconclusive news: a high nuchal translucency (NT) result which could indicate potential genetic 'abnormalities'. I remind myself that the result could easily have been due to human error or the baby being in a strange position, and that we don't know anything for sure yet. We pay for parking. $8 4:30 p.m. — Stop at the store for drain snakes, a kids' birthday card, and two boxes of Perfect bars. $33.97 5 p.m. — Play with Q., do another half-hour of work, and prep Q.'s dinner. Our roommate arrives back from a trip so we all sit with Q. as she eats, listening to music and trying to keep her from throwing food and dumping out milk. K. and I usually switch off going to the gym while the other starts the dinner and bedtime routine with Q, but neither of us is in the mood to work out after our weird news so we agree to take it easy and get takeout. 7:30 p.m. — Shower while K. picks up our food (bibimbap and taro boba for us to share). We eat while watching a bit of a Korean drama. $40.94 9:30 p.m. — Take our dog out while K. does the nightly clean-up of the house. Before bed, I write a message to my OB requesting a repeat ultrasound. Daily Total: $102.91 Day Six: Thursday 6:40 a.m. — Q. sleeps in so we do too! My cute fam plays while I get ready for work. 7:15 a.m. — Play with Q., teach her how to beat an egg for the French toast we're having this morning (with yogurt, peanut butter, and kiwi), and eat together. I head to work after Z. arrives, taking the bus and T. 11 a.m. — Have some meetings and schedule follow-up prenatal care. My OB agreed to a repeat ultrasound but suggested we meet with a genetic counselor anyway. 1 p.m. — I break for lunch, eating the quickest meal I could come up with this morning after not prepping a lunch last night: a cheese sandwich, Chobani yogurt, and banana. Go to a meeting and work on a bunch of collaborative documents. 3:30 p.m. — Leave work to finish out the day at home, first stopping at Trader Joe's to buy crackers, cheese, tulips, chickpea pasta, vegan ground beef, pasta sauce, potatoes, dill, cottage cheese, yogurt, peanut butter, salmon, firm tofu, unsalted sardines (so stinky but Q. loves these), and a lemony arugula salad. $74.50 4:45 p.m. — Get home, hug Q., and have fun unloading groceries with her help. K. gets home a half-hour later from the gym after stopping at a store on the way home for oat milk, cheese, and crackers. He takes Q. on a walk while I prep dinner: baked marinated salmon, potatoes with dill, and salad, then Q. has her dinner. $21.36 6:30 p.m. — K. registers us for a 5k next month and starts the bedtime routine with Q. while I clean up the kitchen. $80 7:30 p.m. — I take our dog for a walk and do a short Pilates class. It's a lower-impact workout than I usually lean towards, but I'm okay with that. We have dinner around 8:30 p.m. while watching Reacher, then shower and head to bed. Daily Total: $175.86 Day Seven: Friday 5:30 a.m. — Q. wakes up crying. We wait to see if she settles herself. She doesn't, so K. spends time with her until 6 a.m. while I sleep in, then they join me in bed with an apple. 7:30 a.m. — Q. and I have a breakfast of eggs scrambled with onion and butter, along with toast and grapes. 8:30 a.m. — Z. arrives and I get started with work. I have a few meetings, drink coffee, and walk our dog while talking to my OB about how they have confidence in the results of the initial ultrasound and don't expect a different result in a repeat ultrasound — but that we are welcome to do it regardless. 12:30 p.m. — Take a break to chat with K., eat a quick lunch, schedule a few medical appointments, and have therapy. I meet every other week with my therapist and spend a lot of today talking about family relationships and the weight of expectations that leave me feeling like I'm both doing things wrong, and unsure of what I genuinely want for myself. $50 2 p.m. — K. and I meet with a genetic counselor and have a better understanding of what the ultrasound results mean, the high probability that everything is 'normal' despite the higher NT, and the options of procedures that can give a definitive result. Return to work. 5 p.m. — I cook a Korean stew (soondooboo using The Korean Vegan's recipe) with rice for dinner while K. and Q. go for a walk. When they return, I sit with Q. while she eats then give her a bath. 8:30 p.m. — We have dinner, then I write a check for our friends' child's first birthday that we'll gift along with a cute aquarium toy we had purchased a few weeks ago. $30 10 p.m. — Order flowers for my grandma's birthday in a couple weeks. This cost will be split three ways, but I cover it for now. $90 Daily Total: $170 The Breakdown Conclusion 'This diary is a pretty standard representation of a week for our family, with reasonable and unsurprising expenses. It's not every week we sign up for races, go to concerts, or buy birthday gifts, but the bulk of our day-to-day expenses tend to be pretty basic: groceries, things for our home, some takeout. Although our weekly spending didn't surprise me much, the tallying up of assets and debts was new for me, as I have only ever done that on an individual level. Looking at our recurring expenses in this format was interesting, too; I'd love to cut down on those to have more flexibility day-to-day and in planning for our future, but I'm conscious of not returning to my ultra-frugal ways and creating unnecessary strictness in our spending! 'As a quick update on the pregnancy pieces of this diary, we're grateful that all turned out normal after our genetic testing!'
Yahoo
a day ago
- Business
- Yahoo
I'm 51, earn $129K and have $165K in my 401(k). Can I afford to retire when my husband, 59, draws Social Security at 62?
I really appreciate your column and the advice you provide. I have been considering 'retiring' early to have more time with my husband during our younger years. We were both married for more than 20 years each. We met when I was 46 and he was 54. Our divorces did cause us quite a bit of financial loss, and we have $105,000 in combined debt, not including our house payment, which is $2,200. I'm currently 51 years old, and my husband is 59. He is retired from a state job and receives a pension that nets around $3,600 per month, as well as lifelong health insurance for both of us. Once he reaches 62, we estimate his Social Security will provide approximately $1,800 net per month. In four months, he can cash out a Roth IRA, which would pay off our outstanding debt, minus our house. 'I'm at my wit's end': My niece paid off her husband's credit card, but fell behind on her taxes. How can I help her? 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. 20 companies in the S&P 500 whose investors have gained the greatest rewards from stock buybacks I'm 75 and have a reverse mortgage. Should I pay it off with my $200K savings — and live off Social Security instead? I earn $129,000 per year. I contribute 15% to my 401(k), which is currently valued at $165,000. I also rolled over an old 401(k) with $125,000 to be managed by a financial adviser. Can I quit working in three years — when my husband begins collecting Social Security? I plan to stop contributing to my 401(k) at that point. How much do you anticipate my account would be worth when I reach 59 1/2? The money my financial adviser manages has been earning approximately 9% per year, and my employer matches 6% of my compensation. We would be downsizing our house and likely moving to a state with lower property taxes (we currently live in Texas). What do you think I should do? Should I retire early and join my husband on this new adventure? Thank you in advance for your advice. The Wife Related: 'This flies in the face of my morals and ethics': My father cut my sisters out of his six-figure estate. Should I push back? Think twice before you retire early. Your husband will have to pay 40% of his combined pension and Social Security on your house payment, and that's after he uses his Roth IRA to pay off your combined debt. Even if your $165,000 401(k) were worth $195,000 after three years — assuming a relatively conservative 6% growth — you would still need that money to last you for another 30 years. It's simply not enough, even with your husband's state pension. You won't be able to make withdrawals from your 401(k) for another eight years and you too may be forced to take your Social Security benefits before your full retirement age. By claiming his Social Security at 62, he is also settling for significantly less than his full amount if he waited. You have a long wait until you qualify for Social Security, and your slightly throwaway comment that your husband will cash out his Roth IRA to pay your debts also gives me pause. You have a relatively secure six-figure income and your employer is contributing a 6% match, so why throw that away now just because your husband is ready to retire? Unless you absolutely hate your job and feel like it's making you sick, there's a lot to be said for these peak earning years and the meaning, social contact and structure that work brings you. You might miss it when it's gone and, even if you're glad to see the back of it, you will certainly miss the financial independence and security of knowing that you are building a nest egg for retirement. Do you really want to be that dependent on your husband? Let's say, for the sake of argument, that you had $400,000 collectively in both 401(k)s in three years. Using the 4% rule — withdrawing 4% of your nest annually over a 30-year period — you would take out $16,000 a year. U.S. adults, on average, say they'll need $1.46 million to retire comfortably, up 15% over the $1.27 million reported last year, according to a recent study by Northwestern Mutual. That doesn't put you in the crosshairs for an easy retirement. You're doing OK. Keep at it. Some 75% of non-retired adults had at least some retirement savings, but 25% had no retirement savings, according to one report by the Federal Reserve. Oftentimes, the clue is in the question. If you are that worried about your ability to retire, keep working and accumulating savings. You want more leisure time with your husband, but will you also have more security and more peace of mind? The Social Security Administration and AARP provide retirement calculators that help determine whether you have enough money to retire. (As for your other point, Hawaii has the lowest property taxes, per this guide from SmartAsset. But that doesn't necessarily mean a lower cost of living.) You can input your assets, projected retirement spending, life-expectancy assumptions and tax estimates. Longevity is a big unknown. The average U.S. female who reaches 65 can expect to live to around 86.7, according to the SSA. If you retire at 54, could you hold off on claiming Social Security until you can maximize your benefits at 70? Many people — 28.4% of men and 26.5% of women — take Social Security when they reach full retirement age, which is between 65 and 67, depending on the year a person was born. Meanwhile, 8.4% of men and 9.3% of women wait until at least 70 to take their benefits, according to the SSA. I wonder how much early retirement, as exciting as the prospect might be, is your idea and how much is pressure from your husband, who is understandably eager to embark on his new post-work life. Planning can be fun too. What kind of retirement would you like after you downsize and move to a new state? It's great that you are in a happy marriage; that will help you in your retirement years, but will your income match your retirement goals? Longevity and lifestyle requires a healthy investment income. Related: 'My wife and I are very grateful': Our son wants to pay off our mortgage before we retire. Will this backfire? Previous columns by Quentin Fottrell: My husband will inherit $180K. I think we should invest the money. He wants to pay off his $168K mortgage. Who's right? 'I'm at a loss': My boyfriend of nearly 10 years is naming his elderly parents as beneficiaries and giving them power of attorney. Am I right to be upset? 'We have no prenuptial agreement': Will my wife be able to take my money if I transfer it to my retirement account? Israel-Iran conflict poses three challenges for stocks that could slam market by up to 20%, warns RBC These defense stocks offer the best growth prospects, as the Israel-Iran conflict fuels new interest in the sector 'I'm 68 and my 401(k) has dwindled to $82,000': My husband committed financial infidelity and has $50,000 in credit-card debt. What now? My husband is in hospice care. Friends say his children are lining up for his money. What can I do? My friend, 83, wants to add me to his bank account to pay his bills. What could go wrong?
Yahoo
2 days ago
- Business
- Yahoo
Venu Holding Corporation's Preferred Stock Offering Now Available for Investment Using Retirement Accounts
Partnership with My IPO Enables Access through Traditional IRA, Roth IRA and SEP Accounts COLORADO SPRINGS, Colo., June 18, 2025--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), a developer, owner, and operator of upscale live music venues and premium hospitality destinations, today announced its recently launched, one-of-a-kind, Preferred Stock Offering can now be purchased through Traditional and Roth Individual Retirements Accounts (IRA) and Simplified Employee Pension plans (SEP). VENU's Preferred Offering gives shareholders an opportunity to earn an 8.0% dividend and to convert to VENU's common stock, traded on the NYSE American under ticker symbol VENU. As part of the fan-owned model, shareholders can also unlock access to exclusive loyalty perks based on the level of investment, ranging from free concert tickets and custom signed guitars to unforgettable all-inclusive concert experiences. Learn more at VENU has partnered with My IPO*, a division of TradingBlock, to allow U.S. investors a simple way to invest in the Offering using Retirement Accounts. On each closing of the Offering, the transfer agent will automatically transfer the shares into investors' My IPO retirement brokerage account. To invest with a retirement account, visit "We saw a significant wave of interest from fans who wanted to invest using their retirement accounts, so we got to work to make it possible," said J.W. Roth, Founder and CEO of VENU. "That's what this is all about, right? At VENU, we are fan-founded, and fan-owned. This initiative gives music lovers, investors and everyone in between the chance to own a piece of music history. As a lifelong music fan, ensuring that our ownership model remains inclusive is a priority." How To Invest: Those interested in purchasing shares in the offering should visit and hit the "Invest Now" button. For IRA investors, visit Once investors complete the My IPO account set up, the electronic subscription agreement and funding process will be provided as part of the investment flow. Due to regulatory requirements, this process requires a few more questions to be asked because investors are setting up an actual brokerage account. Investors are not required to be accredited and any individual over 18 years of age is able to purchase shares at $15.00 per share. *Certain shareholders of Digital Offering, LLC have ownership in Cambria Holdings Inc., which owns 100% of AOS, Inc. (does business under the names TradingBlock and My IPO), Cambria Asset Management, Inc and Digital Offering LLC. Digital Offering and AOS, Inc. are registered broker dealers. Member FINRA/SIPC. About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to building luxury, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,750-seat Ford Amphitheater. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the live entertainment experience. Click here for company overview. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Lager, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU's website, Instagram, LinkedIn, or X. Disclaimer: VENU is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. Before making any investment, you are urged to read the Final Offering Circular carefully for a more complete understanding of the issuer and the offering. There is no guarantee of return, and you should only invest money that you can afford to lose. Use proper risk management when considering this investment. The offering documents may include "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions for forward-looking statements. This information is supplied from sources we believe to be reliable but we cannot guarantee accuracy. Although we believe our expectations expressed in such forward-looking statements are reasonable, we cannot assure you that they will be realized. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to the risks and uncertainties set forth in the attached materials, which could cause actual results to differ materially from the anticipated results set forth in such forward-looking statements. Any forward-looking statement made by us speaks only as of the date on which it is made, and we undertake no obligation to publicly update any forward-looking statement except as may be required by law. The securities offered by VENU are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. VENU intends to apply to have our Series A Preferred Stock listed on the NYSE American under the symbol "VENUP" following the NYSE American's certification of the Form 8-A of the Company to be filed after the final closing of this offering. The listing of the Company's Series A Preferred Stock on the NYSE American is not a condition of the Company's proceeding with this offering, and no assurance can be given that our application to list on the NYSE American will be approved or that an active trading market for our Series A Preferred Stock will develop. Our Series A Preferred Stock is not currently listed or quoted on any exchange. For additional information on VENU, the offering and any other related topics, please review the Form 1-A offering circular that can be found by searching for VENU under Filings/Company filings search on Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the risk factor section of the Form 1-A offering circular. View source version on Contacts Media Relations - Venu Holding Corporation ("VENU")Venu@ Investor Relations - Venu Holding Corporation ("VENU") Chloe Hoeft, choeft@
Yahoo
2 days ago
- Business
- Yahoo
Venu Holding Corporation's Preferred Stock Offering Now Available for Investment Using Retirement Accounts
Partnership with My IPO Enables Access through Traditional IRA, Roth IRA and SEP Accounts COLORADO SPRINGS, Colo., June 18, 2025--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), a developer, owner, and operator of upscale live music venues and premium hospitality destinations, today announced its recently launched, one-of-a-kind, Preferred Stock Offering can now be purchased through Traditional and Roth Individual Retirements Accounts (IRA) and Simplified Employee Pension plans (SEP). VENU's Preferred Offering gives shareholders an opportunity to earn an 8.0% dividend and to convert to VENU's common stock, traded on the NYSE American under ticker symbol VENU. As part of the fan-owned model, shareholders can also unlock access to exclusive loyalty perks based on the level of investment, ranging from free concert tickets and custom signed guitars to unforgettable all-inclusive concert experiences. Learn more at VENU has partnered with My IPO*, a division of TradingBlock, to allow U.S. investors a simple way to invest in the Offering using Retirement Accounts. On each closing of the Offering, the transfer agent will automatically transfer the shares into investors' My IPO retirement brokerage account. To invest with a retirement account, visit "We saw a significant wave of interest from fans who wanted to invest using their retirement accounts, so we got to work to make it possible," said J.W. Roth, Founder and CEO of VENU. "That's what this is all about, right? At VENU, we are fan-founded, and fan-owned. This initiative gives music lovers, investors and everyone in between the chance to own a piece of music history. As a lifelong music fan, ensuring that our ownership model remains inclusive is a priority." How To Invest: Those interested in purchasing shares in the offering should visit and hit the "Invest Now" button. For IRA investors, visit Once investors complete the My IPO account set up, the electronic subscription agreement and funding process will be provided as part of the investment flow. Due to regulatory requirements, this process requires a few more questions to be asked because investors are setting up an actual brokerage account. Investors are not required to be accredited and any individual over 18 years of age is able to purchase shares at $15.00 per share. *Certain shareholders of Digital Offering, LLC have ownership in Cambria Holdings Inc., which owns 100% of AOS, Inc. (does business under the names TradingBlock and My IPO), Cambria Asset Management, Inc and Digital Offering LLC. Digital Offering and AOS, Inc. are registered broker dealers. Member FINRA/SIPC. About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to building luxury, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,750-seat Ford Amphitheater. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the live entertainment experience. Click here for company overview. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Lager, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU's website, Instagram, LinkedIn, or X. Disclaimer: VENU is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. Before making any investment, you are urged to read the Final Offering Circular carefully for a more complete understanding of the issuer and the offering. There is no guarantee of return, and you should only invest money that you can afford to lose. Use proper risk management when considering this investment. The offering documents may include "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions for forward-looking statements. This information is supplied from sources we believe to be reliable but we cannot guarantee accuracy. Although we believe our expectations expressed in such forward-looking statements are reasonable, we cannot assure you that they will be realized. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to the risks and uncertainties set forth in the attached materials, which could cause actual results to differ materially from the anticipated results set forth in such forward-looking statements. Any forward-looking statement made by us speaks only as of the date on which it is made, and we undertake no obligation to publicly update any forward-looking statement except as may be required by law. The securities offered by VENU are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. VENU intends to apply to have our Series A Preferred Stock listed on the NYSE American under the symbol "VENUP" following the NYSE American's certification of the Form 8-A of the Company to be filed after the final closing of this offering. The listing of the Company's Series A Preferred Stock on the NYSE American is not a condition of the Company's proceeding with this offering, and no assurance can be given that our application to list on the NYSE American will be approved or that an active trading market for our Series A Preferred Stock will develop. Our Series A Preferred Stock is not currently listed or quoted on any exchange. For additional information on VENU, the offering and any other related topics, please review the Form 1-A offering circular that can be found by searching for VENU under Filings/Company filings search on Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the risk factor section of the Form 1-A offering circular. View source version on Contacts Media Relations - Venu Holding Corporation ("VENU")Venu@ Investor Relations - Venu Holding Corporation ("VENU") Chloe Hoeft, choeft@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
