Can Pharmacists Retire as 401k Millionaires?

Can pharmacists retire as a 401k millionaire? The answer is a resounding yes! In fact, non-pharmacists can become 401k millionaires as well. Let’s find out how! 401K Millionaires It turns out American millionaires have a lot of things in common. According to a survey conducted by Ramsey Solutions from personal finance expert, Dave Ramsey found out that: 79 percent didn’t

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Will Social Security be there for me when I retire?

My Social Security Social security is an important component of retirement planning. As such it is a good to question its sustainability. First off, since social security is important it’s a good idea for you to create an account to monitor and utilize the resources afforded to you from the social security website. The government’s social security website give you

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How to create a debt reduction plan

Today’s guest post on how to plan a realistic budget and create a debt reduction plan comes from Catherine, a freelance writer. How to plan a realistic budget and create a debt reduction plan Are you struggling to repay debt? Don’t worry! Continue reading to know about what to consider when you’re planning a budget and how to create a

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The Intelligent Investor Summary

The Intelligent Investor In today’s post, I will summarize and discuss the top takeaways from the book, “The Intelligent Investor” by Benjamin Graham. Warren Buffet, one of the most successful investors the world has ever known has this to say about the book. The best book on investing, ever written. Warren Buffet Investment vs. Speculation Graham defines investment as: One

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The Financial Literacy Test

Ever wonder how financially literate you are? Take the financial literacy test here and find out! The quiz is from The National Financial Capability Study (NFCS) is a project of the FINRA Investor Education Foundation (FINRA Foundation). For your convenience, here are the questions: Financial Literacy Test: Question 1. Suppose you have $100 in a savings account earning 2 percent

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Financial Engines Review

In this post, I will review financial engines also known as advised assets group and decide whether or not it is worth it due to their fees and other factors. What is Financial Engines (FE)? According to its website, they are founded in 1996. They described themselves as: We provide objective, fee-based advice and asset management, with an aim to

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Sunday personal finance reading

Enjoy the current edition of the Sunday reading for pharmacy professionals, which features interesting articles and topics from the world of personal finance. Average 401(k) Balance by Age The average 401(k) balance may be at an all-time high, but you’ll likely be surprised to see just how low that number actually is. View the chart to see how you compare

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I paid off my student loan in 2 years

In this post, I will document my student loan journey and how I paid off my student loan in 2 years. MyFed Loan accounts Many college graduates are familiar with this loan servicer. My initial loan started with approximately $29,000 subsidized loan after my graduation in 2006. Student loans are usually subdivided into three different types of loans. After my

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