Retirement
Retirement: Are You On Track? A 4-Step Process
The following is a guest post from Miles Saunders, the founder of MNS Wealth Management, an independent financial advisory firm that serves veterinarians. Here, he shares his thoughts about making sure that you’re on the right track when it comes to retirement. “How do I know that I am on the right track for retirement?”…
Read MoreVeterinarians and Life Planning: Getting Your Priorities Straight
There is one point that I tend to hammer home over and over again: personal finance is more than just the numbers. Focusing on the numbers alone is not guaranteed to motivate someone to change their money story. The central question to ask yourself is “Why?” What is it about your current situation that makes…
Read MoreUse Automation To Make Your Financial Life Easier
Want a really easy way to get better at money? Pay off debt? Save money? Build wealth? AUTOMATE! It turns out that the best way to accomplish these goals is to sidestep human nature. Our brains aren’t wired to prepare for events far off in the future because we have more pressing concerns in the…
Read MoreThe IRA- A Retirement Account For (Almost) Everyone
Back when I first started putting money away in my IRA (individual retirement arrangement), I didn’t appreciate the fact that I could even open one. To be honest, I only opened one because I was highly encouraged to do so by Mr. RLDVM. It was a reluctant choice. I was more worried about cash flow,…
Read MoreWhat is a 401(k)? My Financial Mistake #2, Expanded
I wanted to devote this post to my Financial Mistake #2. You can check out my other four financial mistakes in this post. I was a fresh new veterinary school graduate in my mid-20’s. I was nearly $120,000 in debt from my student loans. I had zero knowledge about retirement or retirement planning. This is…
Read MoreCalculating Your Retirement Number
Updated September 2021 OK, hopefully I’ve convinced you by now that you may need to prioritize retirement savings. But how much will you actually need? One method is to multiply your current income by a factor of 10. For someone with an income of $100,000, this equates to $1 million needed to retire. However, this…
Read MoreWhy I Want You To Start Thinking About Retirement
For those that are young (or young at heart), retirement seems like a completely far off destination. It conjures up images of white haired folks who golf. Or, for those that maybe have a less rosy vision of retirement, it conjures up images of the elderly who have constant health issues. Either way, it’s an…
Read More