If you've ever daydreamed about the best places to retire in the US, you're in good company. If you're like most people, career demands dictate where you plant your roots for most of your life-then, once retirement rolls around and you no longer have to worry about a daily commute or company requirements, the possibilities are suddenly endless. Now it's time to choose your next address, but where to start?
When you think about all of the different ways you can create monthly income, you have to think beyond just the traditional job. There is no question that working is the single best way for you to generate money, but what about investments you can make that would do the same thing. For many people, even small investments can yield significant returns with a monthly income.
I retired at 34 in 2012, and my wife retired a few years later at 35 in 2015. We've been mainly living off our passive income and investments since. In 2023, I bought an expensive home I didn't need, becoming house-rich and cash-poor. Buying this house affected our desired lifestyle in San Francisco. As a family of four with two children, we had less liquid or passive income, which made me feel quite uneasy.
It's too bad that your brother and his wife didn't talk about these things beforehand and map out a plan for the future, especially something as important as where they want to live. Obviously, you cannot control what he does, but you might recommend to him that the two of them sit down and review their goals for the future based on available resources, needs and desires.
Is your retirement close? There's nothing to fear. There are ways to make your retirement financially secure and comfortable. Even if you have only 3 years before retirement, it is possible to build a passive income stream. You can achieve the monthly goal of earning $5,000 in dividends if you invest right. The first step is to start with high-yield exchange-traded funds (ETFs).
One of the most important decisions anyone has to make in achieving their financial goals is how to invest their money. This might sound like something you can decide in just a few minutes, but let this be a reminder that any decision now can have long-standing consequences, so you have to decide carefully what your first or next move is going to be.
Reevaluating a financial portfolio as retirement approaches is crucial for safeguarding against market volatility. A balanced approach helps ensure financial stability.
The One Big Beautiful Bill Act (OBBBA) introduces a senior deduction of $6,000 for individuals and $12,000 for married couples, ensuring 88% of seniors avoid federal tax on Social Security benefits.
For most retirees, a healthy retirement can start with...snapping up some healthy and strong ETFs that pay out big dividends. The goal here is not just to create wealth, but to generate passive income that can work alongside any other income sources retirees might have.