Journal Club: 5-21-21
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Here's Journal Club 5/21/21! 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!
Saving rather than spending can be a struggle for many of us, especially those new on the path to financial independence. Chief Mom Officer says this is a “first world problem”. But the real concern is, when is enough, enough? When do we stop cutting our budget to spend so that we can reach our savings goals? If this is a question you’re battling, then this post is for you.
Speaking of saving, how many of you have heard people boast their ability to save 50% OR MORE of their income per month? I know I have. We all understand that in order to achieve financial independence we have to save and invest, but how in the world do people accomplish saving HALF of their income per month? Retire by 40 encourages all of their readers to shoot for a savings rate of 50% actually. So if you’re wondering how this is possible, or if this is something you can achieve, then I recommend checking out this post.
Maybe you're asking, “okay, but what about those of us who are near retirement but have zero savings?”. Debt Free Doctor actually talks about this in their latest article. If you’re near retirement or drafting out your early retirement plan, this article shares how you can retire in 10 years with zero savings. So if you’re either short on time or waited until the last minute to start thinking about your savings game plan, this article is for you.
While we’re on the topic of savings and retirement, you might be wondering, “Am I under-budgeting for an early retirement?”. Our Next Life discusses the data behind whether retirees spend less in retirement because they naturally do or because they don’t have enough to spend. If you’re wondering whether or not you're on the right track when it comes to budgeting your savings for an early retirement, then this article is for you.
That’s it for this week! I hope Journal Club 5/21/21 was helpful to you.
Lastly, here's a little bit of motivation below. Enjoy and have a great weekend!
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.
