The Good Money Life

If you have been following our series on “How much do I need to retire?”, then you have built a retirement budget, picked a withdrawal strategy, predicted retirement income, filled income gaps, planned for retirement hazards, and calculated the size of your nest egg. Now it is time to finalize your plan by creating tax-efficient retirement distribution strategies to stretch funds as far as they can go.

Creating Retirement Distribution Strategies - The Good Money Life Go beyond conventional wisdom by creating tax-efficient retirement distribution strategies to extend the life of your nest egg.

Getting the size of a nest egg right is critical to our peace of mind in retirement. But there are no shortcuts to this vital dollar figure. So, follow us through an example of our calculations to start building a nest egg that inspires your confidence.

Calculating the Size of Your Nest Egg - The Good Money Life Getting the size of a nest egg right is critical to our peace of mind in retirement. But there are no shortcuts to this vital dollar figure. So, follow us through an example of our calculations to start building a nest egg that inspires your confidence.

External hazards can trip up the best of retirement planning, so evaluate tax scenarios, health care costs, portfolio performance, and expected longevity before calculating the size of your nest egg.

Retirement Planning Hazards - The Good Money Life External hazards can trip up the best of retirement planning, so evaluate tax scenarios, health care costs, portfolio performance, and expected longevity before calculating the size of your nest egg.

The Good Money Life's article "Bridging A Retirement Income Gap" landed on the Money Fitness Journey weekly roundup! Check it out! https://moneyfitnessjourney.com/weekend-roundup-volume-51/

Weekend Roundup Volume: 51 - Money Fitness Journey Welcome to another week of Weekend Roundups. I started this post because I wanted to highlight all the great content writers in the community. I saw there was a gap in the community where only famous content creators would get shared out. I knew I had to fix that. There are so many incredible conten...

So excited to join top personal finance content creators in this week's The Plutus Awards showcase! Check out and support "Creating Retirement Distribution Strategies – Step 7: How Much Do I Need to Retire?" and all the other great content creators!

Plutus Awards Weekly Showcase: July 23, 2021 - The Plutus Foundation Here is our curated collection of the best financial articles and content for July 23, 2021 including selections from Casual Money Talk, Road to Wealth, Freedom Pills, Good Moeny Life, and A Dime Saved.

Uncovering and addressing a shortfall between retirement income and planned expenses is step #4 when answering “How much do I need to retire?”

Bridging a Retirement Income Gap - The Good Money Life Uncovering and addressing a shortfall between retirement income and planned expenses is step #4 when answering “How much do I need to retire?”

Reaching financial independence isn't all about bean counting! Here's how we enjoyed a recent family mountain get away to recharge our batteries. What are you doing to enjoy the fruits of your labors?

Honored to be mentioned along side this great group of personal finance content creators!

This week's Plutus Awards Showcase:

A Dime Saved shares 17 sources of cash you can use in desperate times,

The Good Money Life shares five topics of financial literacy to teach children and help them form a healthy relationship with money,

The Frugal Expat shares 9 steps to becomes fiscally responsible,

Average Joe Finance chats with Kelly Madden about working as a virtual assistant,

Family Money Adventure discusses what he'd like his teens to know about money (things he wished he knew at their age because he learned them the hard way).

https://plutusfoundation.org/2021/awards-showcase-may-28/

Few of us will work throughout a career, create a stockpile of cash, and simply withdraw the savings we need each month. Instead, most will need to generate cash flows to pay our monthly bills. As a result, it is essential to predict retirement income sources and explore ways to supplement that number to increase the likelihood of achieving our dreams.

Predicting Retirement Income - The Good Money Life Projecting retirement income is step 3 when answering the question – “How much do I need to retire?” So, which income streams will be included in your retirement plan?

Don’t outlive your money! Avoid the fear of draining your portfolio by creating a durable retirement withdrawal strategy to ensure your nest egg lasts a lifetime – OR – Step 2 in the “How Much Do I Need to Retire?” series. Check it out!

Designing Retirement Withdrawal Strategies - The Good Money Life Don’t outlive your money! Avoid the fear of draining your portfolio by creating a durable retirement withdrawal strategy to ensure your nest egg lasts a lifetime

A retirement budget is all about planning future income and expenses and serves as a foundation to answering the age-old question “How much do I need to retire?” Have you gone beyond rules of thumb to predict cash flow needs in your life after work?

Building a Retirement Budget - The Good Money Life A retirement budget is all about planning future expenses and serves as a foundation to answering the age-old question “How much do I need to retire?”

Happy to land a spot in the weekly roundup at Money Fitness Journey! Check it out!

Weekend Roundup Volume: 39 - Money Fitness Journey Welcome to another week of Weekend Roundups. I started this post because I wanted to highlight all the great content writers in the community

How much do I need to retire? Rules of thumb are nice, but everyone has unique circumstances. So, there is no one-size-fits-all answer. Instead, consider these 7 factors to calculate your number and retire with confidence!

How Much Do I Need to Retire? - The Good Money Life How much do I need to retire? Everyone has unique circumstances, so there is no one-size-fits-all answer. Instead, consider these 7 factors to calculate your retirement number.

A Health Savings Account (HSA) offers enormous benefits when planning for health insurance and building long-term wealth, but we still opted out of an HSA when selecting medical coverage in early retirement. Why did we do it?

Why We Skipped an HSA - The Good Money Life A Health savings account (HSA) offers enormous benefits when planning for health insurance and building long-term wealth, but we still opted out of an HSA when selecting medical coverage in early retirement. Why did we do it?

We keep growing! The Good Money Life has officially surpassed 400 downloads of our (1) Household Budget, (2) Net Worth Tracking tool, and (3) ETF vs Mutual Funds decision guide! Thank you for your continued support and join others who have downloaded free copies if you haven't already!

Here's what we learned from our search for affordable health insurance as early retirees to unearth cost-effective solutions and avoid skyrocketing medical costs. How are you solving for this top expense as a retiree?

Finding Affordable Health Insurance in Early Retirement - The Good Money Life Here's what we learned from a search for affordable health insurance as early retirees to unearth cost-effective solutions and avoid skyrocketing medical costs

There are many reasons to rebalance a portfolio – including managing risk, taking profits, and implementing strategic changes to allocations. But realigning asset weightings can put a major dent in your pocket if you aren’t careful to manage tax implications. So, here's 4 ways to sidestep the taxman when rebalancing your portfolio. Go!

Rebalancing a Portfolio: 4 Tax-Friendly Strategies - The Good Money Life Rebalancing a portfolio is a smart way to manage risk, but you can improve the process by avoiding a tax hit when tuning your asset allocation

Has WFH offered you greater mobility? Are you thinking about leaving a job-based location and searching for the ideal place to plant roots and live your best life? Then consider these criteria and go!

3 Criteria to Pick the Best Place to Live - The Good Money Life As we retire and are no longer tethered to work, many of us become drawn to a lifestyle of our dreams and seek out the best place to live.

What is the #1 post from The Good Money Life? Optimizing Roth IRA Conversion Strategies. See why this article has gone viral!

Optimizing Roth IRA Conversion Strategies - The Good Money Life Evaluate Roth IRA conversion scenarios to create a strategy that generates the greatest wealth.

Do you contribute to a Roth IRA? Are you frustrated by the meager contribution limits? Are you ineligible due to income restrictions? If so, here are 5 tips to bypass Roth IRA limits and harness the full power of this important retirement account. Go!

5 Tips to Avoid Roth IRA Limits - The Good Money Life Lift your retirement planning strategies to the next level by avoiding Roth IRA limits and taking full advantage of this powerful account

Are you missing the boat on tax planning for a successful retirement? Roth conversions can accelerate your financial independence by using 401(k)s and traditional IRAs to power up retirement savings before transferring them to a tax-free Roth IRA. Get some!

Use Roth Conversions to Turbocharge Your Financial Independence - The Good Money Life Roth Conversions can accelerate your financial independence by using 401(k)s and traditional IRAs to power up retirement savings before transferring them to a tax-free Roth IRA

Thank you to everyone who supports The Good Money Life! We are excited to have reached a new milestone of 275 active subscribers. Thanks again to YOU!

When it comes to choosing ETFs vs Mutual Funds – which is right and when should you choose one over the other? Here’s 6 deciding factors to help make the decision for your investing strategies. FREE DECISION GUIDE!

Picking ETFs vs Mutual Funds: Which is Best for Your Portfolio? - The Good Money Life When it comes to choosing ETFs vs Mutual Funds – which is right and when should you choose one over the other? Here's 6 deciding factors to help make the decision for your investing strategies

Sharing learnings from our road to financial freedom. When I was young, I always wanted to retire early. Looking back, I am not sure why this was such an important goal. But, over time, it became a yearning...

Lessons from Our Journey to Financial Freedom - The Good Money Life Sharing learnings from our road to financial freedom. When I was young, I always wanted to retire early. Looking back, I am not sure why this was such an important goal. But, over time, it became a yearning.

Happy Chinese New Year! May you have good health, happiness, and fortune in 2021!

The great debate? Active vs passive management investing styles or 5 reasons you should invest in index funds.

5 Reasons to Invest in Index Funds - The Good Money Life The great debate? Active vs passive management investing styles or 5 reasons you should invest in index funds

Do you subscribe to Robert Shiller's powerfully predictive CAPE ratio that suggests today's markets are too hot and ready to burst? Or, do you buy into his new Excess CAPE yield measurement that says stock values reflect excess earning over low valued bonds? And, how are you managing those risks and opportunities in your portfolio?

Famed economist Robert Shiller has a new metric to value the stock market. Here’s what it’s saying Shiller recently introduced a new yardstick that give the optimists a fresh narrative, and they're mining it with relish.

By any measure, 2020 was a year of turmoil and strife. So, seek out the year’s positive lessons of introspection, perseverance, and accountability to build a better and brighter future.

3 Positive Lessons 2020 Taught Us - The Good Money Life

Here are the top 5 posts of 2020 from The Good Money Life. Kick-off the New Year by adding these popular articles to your reading list! How many have you read?

Our Top 5 Posts of 2020 - The Good Money Life April 11th marked the launch of The Good Money Life. At that time, I had never hosted a blog site, had written very little, had no clue how to sustain the

Here's a friendly reminder to pay your 2020 Q4 estimated taxes! Payments are due January 15th, 2021 for USA federal and some states too! Make this smart money move to avoid underpayment penalties.

How is your son or daughter learning about money? Take charge by teaching children these 5 financial literacy topics to give them a head start on a successful money life!

Financial Literacy 101: Teaching Children About Money - The Good Money Life As parents, we want to see our children succeed in life. And a critical factor in success is building a strong foundation in financial literacy to grow into independent adults.

Thank you to everyone who has supported The Good Money Life this year! We started as an idea, launched a blog, and have reached a new milestone of 225 active subscribers. Thanks again to YOU!

Warmest holiday wishes from The Good Money Life!

If you want to build wealth to reach financial independence, it is imperative to invest to grow your net worth beyond the level that paychecks can accumulate. So, it is common to turn to stock investing and real estate investing to power up your net worth. But which is best?

Real Estate Investing vs Stock Investing, Which is Best for You? - The Good Money Life If you want to build wealth to reach financial independence, it is imperative to invest to grow your net worth beyond the level that paychecks can accumulate.

Don’t be fooled with short-term savings from refinancing a mortgage and get caught eroding your wealth. How are you refinancing to boost your net worth?

Refinancing a Mortgage May Free Up Cash Flow But Kill Your Net Worth - The Good Money Life Don’t be fooled with short-term savings from refinancing a mortgage and get caught eroding your wealth!

The Good Money Life has officially surpassed 250 downloads of our (1) Household Budget, (2) Net Worth Tracking tool, and (3) ETF vs Mutual Funds decision guide! Thank you for your continued support and join others who have downloaded free copies if you haven't already!

This isn’t about blindly buying something just because it is “on-sale” or about being overly frugal just to “save” a few bucks. Instead, this article is about the real-life strategies that we use every day to save money on products we plan to buy at the places we already shop. How do we do it?

5 Tips to Save Money Right Now! - The Good Money Life This isn’t about blindly buying something just because it is "on-sale". Instead, this article covers real-life strategies that we use every day to save money!

Make sure to check out the Best of November Web post from Chris Mamula at Can I Retire Yet. Great article with tons of awesome content and resources. Honored to have The Good Money Life's Optimizing Roth IRA Conversion Strategies post included along side of industry heavyweights such as Big ERN, ChooseFI, and many more. Thanks Chris!

November 2020 Best of the Web - Can I Retire Yet? Your retirement roadmap: save more, invest smarter, retire sooner.

Using this false logic, many sidestep emergency funds and miss out on building a solid financial foundation. Don't make the same mistake. Here’s the what, who, when, why, how, and where of emergency funds to protect your financial wellbeing.

Building a Robust Emergency Fund: Everything You Need to Know - The Good Money Life Prepare yourself for the unexpected! Here's the what, who, when, why, how, and where of emergency funds to build your financial foundation.