Journal Club 12-29-23

Here's Journal Club 12-29-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

• Planning for retirement involves a multitude of financial considerations and implications that individuals need to address as they approach retirement. While the financial concerns are important, there are other aspects that lie beyond finances that are equally essential for creating a fulfilling retirement. The Physician on FIRE makes this critical observation and shares more about these aspects to enhance the quality of life in retirement in the article – Ask Before Quitting.

• As you may already know, Social Security is a federal program funded through payroll taxes that acts as a safety net. However, not everyone qualifies for Social Security retirement benefits. The author of Retire by 40 explains the mechanics of Social Security benefits and how early retirement can affect these benefits. Curious to learn more? The author discusses some key concepts in the post – How Early Retirement Impacts Social Security Benefits.

• The definition of “rich” is very subjective in nature. It varies considerably based on age, education, location, etc., and continues to evolve, demonstrating that it is a relative concept. However, if you're interested in finding out how your income stacks against other individuals in the United States, the author Of Dollars And Data has a fascinating resource put together for you in the article – How Much Income Do You Need to Be Rich?

• Converting your Pre-Tax contributions to a Roth account can be a sound financial strategy, especially for Baby Boomers as they approach the withdrawal phase. The author of The Retirement Manifesto refers to this period as “The Golden Age of Roth Conversions.” The author encourages readers to make the best use of this opportunity to reduce their tax burden and secure their financial future in the post – The Golden Age of Roth Conversions.

Read any interesting articles? We'd love it if you could please take a moment to share them in the comments below!

Thank you for reading and sharing,

Peter