The Complete Retirement Planner Blog
Considerations For Starting Your Financial Plan
According to a 2021 Charles Schwab study, the majority of households without a financial plan don't have one because it's too complicated and/or they don't have the time to create one (TCRP solves those problems!). Yet, of those that have a written plan, 54% feel "very confident" about reaching their goals, and another 18% are "certain" that they will reach their goals. It's clear that having a tangible plan to follow can provide a great source of comfort and will help to keep you on the right track.At the very least, everyone over the age of 30 should be planning...
A New Year - But Articles Still Recommend The Same Old Useless Retirement Benchmarks
The beginning of every year seems to be an especially popular time for articles about retirement planning, and the goals that you should set your sights on to be prepared. The problem is that all the "advice" that is being offered is exactly the same as what was being offered last year. And the year before, and all the years before that. The articles are just recycled and regurgitated. The same savings benchmarks by age (that most likely don't apply to you), the same withdrawal rate rule of thumb (mostly outdated or misleading), and the same assumption about replacing a...
Percent Of Income To Allocate To Each Expense Category
A common question that arises when itemizing your monthly expenses is, "what percent of my income should be allocated to each expense category?". Unfortunately, there is no "one size fits all" answer to this since everyone's circumstances are unique - a person may spend a higher percent for rent in New York City but have no car expenses, or live in an area where you spend much less for rent but then own a car (or two). However, while there's no need to over-analyze every last category, it's still a good idea to be aware of what percent of your...