Weekend Reading – Americans in a retirement crisis, cheap home ownership, Barista FIRE and more #moneystuff
Welcome to my latest Weekend Reading edition where I share some of my favourite articles from the personal finance and investing blogosphere.
Crazy to read that almost 50% of Americans near retirement age have less than $25,000 in savings for retirement. How are they going to overcome their massive retirement crisis? U.S. social security is in a world of hurt.
Want to win a MacBook? Sure, why not eh?! Read this article about my personal finance mistakes – so you don’t have to make the same ones and enter to win by October 15th!
Enjoy the weekend and I’ll be back next week!
This other retirement article confirms pensions and U.S. social security are under siege; because Americans simply aren’t getting ahead. This is despite some massive U.S. stock market gains over the last decade: “…54% of middle-income households (defined as income ranging from $48,000 to $95,000) don’t have enough saved to maintain a decent retirement. That’s the same percentage as in 2010…” Thoughts on the major disconnect besides investor behaviour?
Millennial Revolution fired back about FIRE (Financial Independence, Retire Early) to financial guru Suze Orman. “Suze, I know this is hard to imagine from inside the bubble of your private island, but having a job you like that will take care of you is no longer an option. And it hasn’t been an option for some time. No. We have to find a way to take care of ourselves. “Just find a job you like and never get laid off” is outdated advice. It may have worked for you, but it sure as shit ain’t working for us. THAT’s why the FIRE movement exists.” As a fan or hater or somewhere in between on this FIRE stuff – what’s your take?
Thanks to Rob Carrick’s newsletter: did you know you can get into home ownership in Vancouver by owning shares in a home for as little as $1? Crazy. Soon, will there be a bunch of GoFundMe pages for people wanting to buy a house? Wild times we live in…
Retireby40 updated an older post on his site that included the concept of Barista FIRE. That’s about having a fun, casual part-time job that you enjoy to supplement your passive (investment) income. I don’t want to really work as a barista but I do want to work part-time in another 4-5 years. To be more clear, and I’ve written this on this site a number of times in various posts, I don’t really want to stop working – ever. Rather, I think working on your own terms as you please would be ideal for many other benefits beyond financial – such as social, mental and physical well-being.
Congrats to Daniel and Russell who won copies of Beat The Bank. Your books will be in the mail soon! Also, any investing or other questions you want me to ask Larry Bates, the author of this book? I have an interview planned with him soon – so let me know!
John Robertson aka Holy Potato continues to offer a solid practical index investing course for Canadians.
Partnerships and Deals!
Thanks to my passion for personal finance and investing, some great companies reach out to me and provide reader offers. I’m happy to share those below from my Deals page!