Category Archives: Financial Independence

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Retiring early seems to be on everyone's minds these days. The growing popularity of the so-called FIRE movement -- short for financial independence, retire early -- is a testament to how much everyone seems to be craving a slice of "the easy life." The good news is that in many U.S. states, what most people would call an "early" retirement is within reach. Although "full retirement age" for Social Security purposes isn't until age 67, the average retirement age in every single state -- with the exception of the District of Columbia -- is below 67. On average, retirees in the U.S. hang up their work boots at age 64, according to Money Talks News.

Read More: Social Security Cost-of-Living Adjustments Arent Enough to Pay Higher Costs for SeniorsFind Out: Heres Exactly How Much Savings You Need To Retire In Your State

Of course, to truly live a comfortable retirement takes more than desire -- it also takes a large chunk of cash.

If nothing else, this study proves two things. First, the state in which you live can play a big role in how early you can retire, as evidenced by the low average retirement ages across wide swaths of the South and Midwest. Next, it takes more than $1 million to have a comfortable retirement in any state in America -- or over $2 million in the case of Hawaii and the District of Columbia -- so it's important to work with a retirement advisor or the best 401(k) providers to help boost your savings as much as possible.

Check out when you can expect to retire, based on your state of residence.

Last updated: March 30, 2021

Birmingham, Alabama, USA downtown city skyline.

Average retirement age: 62

Annual cost of a comfortable retirement: $49,099

Retirement savings needed: $883,790

Save More: Savings Tricks From Regular People Who Are Sitting on Millions

Alaska, USA - August 12, 2016: Downtown Juneau with flowers in the foreground with painted wooden storefront buildings and the Red Dog Saloon.

Average retirement age: 61

Annual cost of a comfortable retirement: $79,249

Retirement savings needed: $1,505,740

Watch Out: 14 Key Signs You Will Run Out of Money in Retirement

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Tucson, Arizona, USA downtown skyline with Sentinel Peak at dusk.

Average retirement age: 63

Annual cost of a comfortable retirement: $58,327

Retirement savings needed: $991,560

Related: What Is a Roth IRA?

Hot Springs, Arkansas, USA - May 23, 2014: Historic Bath House Row at sunrise.

Average retirement age: 62

Annual cost of a comfortable retirement: $47,836

Retirement savings needed: $861,053

Read: 17 Biggest Budgeting Mistakes Youre Making

SAN FRANCISCO, CA -31 AUG 2017- The Chinatown neighborhood of San Francisco is the oldest Chinatown in the United States and the largest Chinese community outside Asia.

Average retirement age: 64

Annual cost of a comfortable retirement: $83,279

Retirement savings needed: $1,332,457

Helpful: 19 Effective Ways To Tackle Your Budget

Centennial Colorado aerial view

Average retirement age: 65

Annual cost of a comfortable retirement: $60,357

Retirement savings needed: $905,350

Check Out: Best Cities To Retire on a Budget of $1,500 a Month

Hartford Connecticut in the fall

Average retirement age: 65

Annual cost of a comfortable retirement: $70,817

Retirement savings needed: $1,062,257

Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want

State Capitol Building of Delaware.

Average retirement age: 63

Annual cost of a comfortable retirement: $58,418

Retirement savings needed: $993,101

Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

Washington's city street and post office tower at sunrise, Washington, DC, USA.

Average retirement age: 67

Annual cost of a comfortable retirement: $94,248

Retirement savings needed: $1,225,222

Try: 50 Easy Things You Should Do To Save Money

Naples, Florida, USA downtown skyline at dusk.

Average retirement age: 64

Annual cost of a comfortable retirement: $56,382

Retirement savings needed: $902,116

Stop Now: 50 Terrible Ways To Try and Save Money

Helen, Georgia, USA - May 7, 2013: The square in the Appalachian town of Helen.

Average retirement age: 63

Annual cost of a comfortable retirement: $50,066

Retirement savings needed: $851,122

Find Out: Things To Cut Out Right Now To Save Money During the Health Crisis

Palm tree silhouette at sunset, Hawaii, USA.

Average retirement age: 66

Annual cost of a comfortable retirement: $120,909

Retirement savings needed: $1,692,722

Read: 25 Tips for Saving Money With Your Spouse

City of Idaho Falls in Idaho State showing famous landmark church in autumn, USA.

Average retirement age: 64

Annual cost of a comfortable retirement: $52,962

Retirement savings needed: $847,388

Helpful: 16 Effective Ways To Trick Yourself Into Saving Money

Old State Capitol in Springfield, Illinois - Image.

Average retirement age: 64

Annual cost of a comfortable retirement: $54,657

Retirement savings needed: $874,507

Good To Know: 16 Splurges That Save You Money in the Long Run

Indianapolis, Indiana canal walk

Average retirement age: 63

Annual cost of a comfortable retirement: $50,697

Retirement savings needed: $861,848

Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying

Morning in Des Moines, Iowa.

Average retirement age: 65

Annual cost of a comfortable retirement: $52,399

Retirement savings needed: $785,982

Try: Cutting Out These 25 Expenses Will Save You $16,142.08 a Year

Wichita, Kansas, USA - Augusst 31, 2018: The confluence of the Arkansas and Little Arkansas River at the Keeper of the Plains near downtown Wichita at dawn.

Average retirement age: 65

Annual cost of a comfortable retirement: $50,223

Retirement savings needed: $753,339

Learn More: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially

Frankfort, Kentucky, USA town skyline on the Kentucky River at dusk.

Average retirement age: 62

Annual cost of a comfortable retirement: $51,082

Retirement savings needed: $919,469

Exclusive: Americans Savings Drop to Lowest Point in Years

The St.

Average retirement age: 62

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The Average Retirement Age in Every State - Yahoo Finance

In her early 20s, *Amanda had long-term employment, lived in a rental property and had a healthy amount of savings.

Then *Amanda met a man and fell in love. Over time, this man became financially abusive. He gained access to her bank accounts, changed passwords and stole money.

When *Amanda realised what was happening and worked up the courage to confront him, he became physically abusive. In a final blow the man withdrew a large sum of money from her account and left the country.

This experience left *Amanda in a dark place. She tried to work as much as possible to pay off the debt but she couldnt get on top of it. Her mental health sprialled and she was left unable to work and suicidal.

*Amanda isnt alone in her financial struggles. By the age of 17, *Jasmine had lived with 14 different foster families. Just before her 18th birthday she left the system, couch surfed and then ended up living rough on the streets.

She had no money and suffered from complex mental health issues and drug addiction. There was no one in her life she could turn to for help. Eventually she overdosed, but thankfully lived to tell the tale.

*Amanda and *Jasmine are examples of many young women in Australia who are struggling financially and dealing with trauma. Ive heard stories like theirs countless times.

Previously I worked as a high school teacher and after that in womens charities. Id have girls and young women constantly pop into my office asking for financial help, whether it be about obtaining a tax file number or setting up a bank account. I quickly came to realise there was a gap in the market for young girls as they transitioned into adulthood.

Founder of Warrior Woman Foundation, Jessica Brown.

Supplied

Research from the Household, Income and Labour Dynamics in Australia survey has shown that women whose highest level of education was Year 12 or less have a financial literacy rate of 38.3 per cent while the rate for tertiary qualified women is 65.2 per cent.

So I decided to start a foundation to help young girls from the ages of 15-25 transition from out of home care into independent living, as well as young women who simply need a helping hand to gain independence. These women need a network of safe, stable, positive, female role models in their lives.

*Amanda and *Jasmine have gone on to do extraordinarily well. They received the help they needed and were able to get back on their feet. But change is needed if were going to help the next generation of women before they get to breaking point.

As a former teacher my experience has been that financial literacy is really only taught in subjects like commerce, business studies or economics. I believe that all students should be taught this in school, and it should be implemented into the school curriculum from an early age.

We need to make financial independence a priority for women, given that statistics show older, single women aged 55+ are becoming one of the fastest growing financially vulnerable groups in Australia.

Through the teaching of financial literacy to all students, we can also help prevent financial abuse by teaching vulnerable young women the skills and confidence to take control of their finances and see the early warning signs of abusers.

Many young women who find themselves in the situation of financial abuse are led to believe that they are not good with money, like in the case of *Amanda, and that they are not confident managing it and therefore shouldnt. By teaching financial literacy as soon as possible in a young womans life it can positively mould her relationship with money and more importantly, her belief in her ability to manage it.

Over the years in my line of work Ive learnt there are some key things women can do to help protect themselves from financial abuse. These are:

*Not their real name.

*Jessica Brown startedThe Warrior Woman Foundationto help young women gain financial independence. Theirgoal is for every Australian woman to achieve independence through financial wellbeing, and to increase the financial literacy rates of young women in Australia so that they have the confidence to take charge of earning and managing their own money, plan for future economic security, and protect themselves from financial abuse.

If you, or someone you know, needs assistance you can contact Lifeline on 13 11 14 or 1800RESPECT 1800 737 732

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How teens and young women are falling through the financial literacy gap - SBS

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Dress For Success was founded a decade ago to help women acquire a gently-used interview outfit to help them step into the job market.

Job seeking has changed since then, but the pandemic changed everything. While the 2008 financial crisis promoted a he-cession in fields such as manufacturing and construction, the pandemic has sparked a she-cession, disproportionately affecting women in low-earning fields such as food services and retail.

We heard from our clients that, aside from the economy and jobs, there were also the pressures of home care and schooling at home, said executive director Mary Tersigni-Paltrinieri, who was gearing up to celebrate the organizations 10th birthday in a virtual party last week.

Before the pandemic, Dress for Success program offerings were mostly face-to-face with only one virtual program. Within a month, all of the programs had shifted online. Clients were even selecting interview clothing online and picking it up curbside.

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Questions were veering away from the usual scope of job-seeking to queries about isolation and mental health support, so Dress for Success started to hold virtual weekly meet-ups, said Tersigni-Paltrinieri. Some clients had questions about how to access food banks or apply for CERB and other government supports. Theres now a resource guide for volunteers updated three times a week.

There was still a need to fulfill the organizations mandate of getting women prepared for work. Even though those who work at home joke about wearing pyjamas all day, many Dress for Success clients still work in face-to-face jobs, said Tersigni-Paltrinieri.

In the early days, about half of the donated stock of clothing at the Catherine Street boutique consisted of suits and dresses. Now the collection includes such items as work boots, work wear and gender-neutral clothing.

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Organizations like Dress for Success have always had to be responsive to social change. Established to help disadvantaged women seeking financial independence, programs now also embrace non-binary and gender non-conforming people who feel most comfortable in female-centred workspaces.

Some clients are looking to be appropriately dressed for an internship, a court appearance or a refugee board hearing. Others want to prepare for job interviews, develop a resume or take part in the annual full-day career conference, said Tersigni-Paltrinieri.

There are no time limits for how long you can be a client. It can be a day or a month or years.

Christine Bourgeois, now 32, graduated with a degree in music in 2012 and was working in the fitness industry to gain experience in the hopes of entering an MBA program when she was as wrongfully dismissed in 2015.

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Devastated about losing her job and still grappling with student debt, she took a course in Java through Employment Ontario, which pointed her in the direction of Dress For Success.

Bourgeois signed up for a workshop on resume-writing and did a speed-interviewing exercise with employers to get feedback on her interviewing performance.

One Dress for Success volunteer handed Bourgeois her own shoes to complete her interview outfit.

I was so touched. They were Michaels Kors, she said. Its more than clothing, it gives you confidence.

Bourgeois Java skills led to an internship, then a job at Ross Video, which lasted for two-and-a-half years until there was a round of layoffs. She now has a contract position in procurement at the Department of National Defence and an on-call job in protection services at the National Gallery of Canada.

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Bourgeois is aiming for a career in policing, still wants to do an MBA and volunteers at Dress For Success.

You career is a journey, not a destination, she said. Its amazing to have such incredible people help you.

Dress for Success, a registered charity, relies on its base of volunteers. Last year, it had 652 clients, but expects to exceed 1,000 this year as women head back into the workforce, said Tersigni-Paltrinieri. Programs are funded through donations, corporate partners and sponsors, foundation grants and fundraising.

While the organization looks forward to opening its doors again, there are benefits to offering virtual services, she said. Mothers of small children have reported that its good not to have to find a babysitter.

At the heart of everything we do is about providing women with confidence to take whatever is their next step.

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Ottawa's Dress for Success pivoted when the she-cession hit - Ottawa Citizen

The study has received funding support of 3.5 million from the Wellcome Trust and Chen Yet-Sen Family Foundation

LV Prasad Eye Institute in collaboration with the Queen's University of Belfast, along with nearly 30 other partners from the US, the UK, Vietnam, Bangladesh, Zimbabwe and India, is working on a suite of studies to explore the impact of vision care on the global level to achieve Sustainable Development Goals in low and middle-income countries. The study has received funding support of 3.5 million from the Wellcome Trust and Chen Yet-Sen Family Foundation.

Led by Professor Nathan Congdon of Queens University Belfast (QUB) in the UK and Dr Rohit Khanna of the LV Prasad Eye Institute (LVPEI), various universities, schools non-government organisations, public health bodies, government ministries, institutions and patient groups are part of the multi-disciplinary study team. From LVPEI, Senior Public Health Specialists Dr Srinivas Marmamula and Asha Latha Metla and Senior Retina Consultant - Dr Raja Narayanan are also part of the study.

The other collaborators from India include Dr Suvarna Alladi from NIMHANS at Bengaluru, Dr Pallab Maulik from The George Institute for Global Health India at New Delhi and ShashidharKomaravolu from the Alzheimers and Related Disorders Society of India, Hyderabad Deccan Chapter.

Termed as ENGINE (Eyecare Nurtures Good-health, Innovation, driving-safety and Education), it is a five-year project designed to leverage high-quality research results to drive lasting policy change and achieve an improved quality of life for people in low and middle-income countries. ENGINE comprises four research trials in India, Vietnam, Bangladesh and Zimbabwe, to examine the impact of glasses on promoting better living, from childhood to old age, and the impact on multiple SDGs, says Dr Rohit Khanna, Director, Gullapalli Pratibha Rao International Centre for Advancement of Rural Eye care (GPR ICARE), LV Prasad Eye Institute.

The four research projects that are part of this study are:

CLEVER (Cognitive Level Enhancement through Vision Exams and Refraction) that supports the Indian governments strategy of finding scalable, low-cost means of preventing dementia. This project is built upon the work done in homes for the aged project funded by Wellcome Trust India Alliance.

STABLE (Slashing Two-wheeler Accidents By Leveraging Eyecare) that will assist local partners, including the Vietnamese Ministry of Transport, to combat Vietnams twin epidemics of uncorrected short-sightedness and motorcycle crashes in the young.

ZEAL (Zimbabwe Eyecare and Learning) will work with local partners who currently implement the Zimbabwe governments national school vision project to explore how targeting long-sighted children with the novel, low-cost screening can add to the academic impact of the programme.

THRIFT (Transforming Households with Refraction and Innovative Financial Technology) that will capitalise on the Bangladesh governments novel and forward-looking plan to digitise all social safety net payments to the elderly by providing free glasses and training to help them better cope with unfamiliar smartphones, thus improving financial independence.

More here:

LV Prasad Eye Institute, global partners explore impact of vision care to achieve SDGs - BSI bureau

* Any views expressed in this opinion piece are those of the author and not of Thomson Reuters Foundation.

By Bogolo Kenewendo, an economist, a member of the UKs Gender Equality Advisory Council, the formerMinister of Investment, Trade and Industry of Botswana and the managing director of Kenewendo Advisory, an economic advisory firm based in Botswana

There is an African saying: empower a woman and empower a community.

As the G7 leaders meet in Cornwall, the acknowledgement of this simple truth has never been more vital.

The UN estimates that the COVID-19 pandemic has dumped 47 million more women and girls below the poverty line. Women are particularly vulnerable to the pandemics impact because they tend to work and run businesses in the informal economy where there is no state-provided safety net of any sort.

This disproportional impact extends to access to capital. In sub-Saharan Africa, 40% of businesses are owned by women but only 20% of that number have access to institutional finance. Thats a funding gap of $42 billion. As risk averse private financial institutions retrench in the wake of the pandemic, this situation is getting significantly worse, causing what could be termed a she-cession.

In order to lessen the impact of the pandemic and potential of economic scarring, governments have to employ transformative economic recovery plans that focuses on inclusion through building womens economic agency. This is where gender-lens investing comes in. In simple terms, gender-lens investing is about deploying capital in people and companies with the specific goal of supporting women.

Gender lens investing wont only assist in reaching the UNs Sustainable Development Goal on gender equality, but is also a catalyst for achieving all of the other SDGs. The economic, business, as well as the social case, for investing in women is obvious. Among many different metrics which support this argument is a recent study by McKinsey estimated that if women's economic participation rates were the same as men it would be worth an additional $28 trillion to the global economy by 2025. By anyones standards, these numbers are huge and underline the scale of both the problem and the opportunity to invest in women.

The 2X Challenge, founded by the development finance institutions of the G7 nations to increase investment in women, has a set of qualifying criteria for investments which serve as a very useful guide for what this means in practice.

There are hundreds of examples of businesses that have benefited from gender lens investment. PEG Africa, a solar power company providing home systems to customers in West Africa has received $12.5 million of 2X investment from the UKs CDC Group. As a result, the company has doubled the number of women in leadership positions from 22% to 44%.

The success of the 2X Challenge, which is set to raise a further $15 billion over the next two years for investing in women in the developing world, is very welcome. And that success underlines the vital importance of development finance institutions, such as DFC in the US and CDC Group in the UK, in encouraging global private financial institutions to adopt gender lens criteria.

As a member of the Gender Equality Advisory Council (GEAC),set up by the UK government to look at how we support women as part of the build back better agenda, we will be pressing the G7 leaders to place women and gender equity at the heart of plans to build back better. They have an opportunity an opportunity to provide leadership in building inclusive economies that prioritise women and their children.

The G7 can play a key role in providing access to capital and labour markets for women. This is a crucial component of economic empowerment, and central to womens financial independence globally. Women more often face barriers to securing finance, insurance and business ownership, thereby hindering entrepreneurship.

We need to encourage financial stakeholders to leverage the power of capital markets and movements of resources to steer responsible business conduct and foster inclusive corporate cultures.

Job creation initiatives should be pivoted to increase support for women-led industries and policies tailored to support women-owned micro, small and medium sized enterprises (MSMEs).

We require existing and new Aid for Trade initiatives to include the tools for crafting gender-responsive trade policies, to support women in programmes that foster trade and economic empowerment and to work directly with women-owned businesses in developing countries.

The stakes could not be higher, nor the opportunity greater.

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The G7 must place women at the heart of build back better agenda - Thomson Reuters Foundation

WALTHAM, Mass.--(BUSINESS WIRE)--Digital Guardian, a leader in data loss prevention (DLP) and managed detection and response (MDR), today announced that the Boston Business Journal (BBJ) has named its Chief Financial Officer (CFO), Susan Walker, 2021 CFO of the Year in the Midsize Private Companies category.

Honoring the best in local finance, the BBJs CFO of the Year Awards program recognizes 10 chief financial officers whose work and commitment has helped make a difference in their companies, organizations, and communities. This years awards, like last years, are especially meaningful as these business executives have helped steer their organizations through the coronavirus pandemic and unprecedented financial challenges.

Since joining Digital Guardian in 2019, Walker has transformed the companys financial infrastructure, including helping to migrate its customer base from perpetual licensing to a SaaS subscription model. In addition, she was instrumental in guiding the companys smooth transition to remote work, and in streamlining reporting and other critical business processes. Notably, Walker also helped develop an innovative mid-market program that delivers prescriptive data protection to a historically underserved customer base. Launched in April, the industrys first DLP-as-a-service solution for mid-market enterprises has already generated a robust slate of closed deals and a growing revenue pipeline.

Accomplished and accountable, Susan combines financial creativity with fiscal rigor to help drive corporate and customer success, said Mordecai (Mo) Rosen, Chief Executive Officer, Digital Guardian. During the early days of the pandemic, she spearheaded a COVID-19-adjusted corporate plan that prioritized financial independence to help preserve both cash and jobs. Her vision and leadership propelled Digital Guardian to record employee retention and to one of the best years in company history. Along with everyone else at Digital Guardian, I am thrilled she is being recognized with this prestigious and well-deserved honor.

Charged with leading Digital Guardians HR department and fostering its corporate culture, Walker has helped boost employee retention to an all-time high. As a result, the company has earned impressive accolades, including being named a Top Place to Work in Massachusetts by The Boston Globe and a Top Place to Work in the USA by Energage.

I am excited to celebrate my two-year anniversary at Digital Guardian with this wonderful honor, said Walker. The recognition reflects the collective efforts of an incredible leadership team that has positioned Digital Guardian as the leading provider companies go to for protecting their critical data and IP from the endpoint to the cloud. As we transition to the post- COVID-19 era, I am energized to continue collaborating with Mo and the executive team in helping Digital Guardian reach even higher heights in 2021 and beyond.

We are thrilled to celebrate our 13th year of honoring local CFOs and their accomplishments, said BBJ Market President and Publisher Carolyn M. Jones. Strong financial stewardship and strategic leadership have never been as important as the past year and a half, and we look forward to honoring and recognizing the importance of the role of the CFO.

The 2021 BBJ CFO of the Year Awards program will be held virtually on Wednesday, July 14. For more information, including event registration and the complete list of winners, please visit: https://www.bizjournals.com/boston/event/166534/2021/cfo-of-the-year-virtual-event.

About Digital Guardian

Digital Guardian is no-compromise data protection. The companys cloud-delivered data protection platform is purpose-built to stop data loss by both insiders and outsiders on Windows, Mac, and Linux operating systems. The Digital Guardian Data Protection Platform performs across the corporate network, traditional endpoints, and cloud applications. For more than 15 years, we have enabled data-rich organizations to protect their most valuable assets with a choice of SaaS or fully managed deployment. Digital Guardians unique policy-less data visibility and flexible controls enable organizations to protect data without slowing the pace of their business. To learn more please visit: https://digitalguardian.com/.

All product and company names herein may be trademarks of their respective owners.

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Digital Guardian's Susan Walker Named a Boston Business Journal 2021 CFO of the Year - Business Wire

In September 2020, I wondered aloud in this very column what the financial sensibility of Americans would be like when the pandemic was over.

I surmised that Americans would potentially experience a renaissance of resourcefulness, stoked by the powers of scarcity. This, according to my theory, would lead to modesty over consumerism and a healthy savings rate that could persist for years.

Hahahaha. What a noob.

I remember the first time I heard someone say YOLO. I had no idea what they were talking about until it was explained that it was simply an acronym for You Only Live Once.

From what Ive seen over the last three months, I believe one of the primary cultural side effects of COVID-19 will be unadulterated spending in the spirit of YOLO. If Im gonna be miserable, I might as well be comfortable, is the tale currently being told.

The housing market is red-hot, the travel industry is on the verge of poetic justice earned by a year lost, and certain consumer goods are increasingly difficult to find (and not just because of large boats getting stuck in man-made waterways in Egypt.)

I did acknowledge pent-up demand could lead to a robust economic recovery, but I didnt expect people to spend their feelings so hard. But on some level, I get it. I found myself telling my wife I wanted a new shirt to run in this past weekend. Might as well be comfortable, I heard myself say, with utter disrespect to the two to three dozen other T-shirts in my drawers.

I now believe the 24-month period ending February 2022 will result in an increase in lifestyle spending as opposed to an increase in the savings rate. My assertion last September was that people would be scared straight, then save. Instead, now I believe people will seek comfort in comfort, as opposed to pragmatism.

That is whats actually at the heart of my thinking right nowa reimagining of financial pragmatism. Ive long believed people should put their financial future before their financial present. To me, thats the essence of financial pragmatism.

Hope is great, but its not a financial strategy. Saving the correct amount of money before you spend any money honors math and illuminates the impracticality of hope. But, and this is a giant but, there might be more art than science when it comes to financially thriving.

As you likely know, my classic definition of thriving revolves around a dependable and sustainable financial plan that perpetually wards off instability. However, indulging in comfort along the way, whether for mental wellness or simple joy, seems to have gained ground in the face of the pandemic and the recession. And I think thats OK.

Just as workers have attempted to shift the paradigm of work/life balance to an arguably more appropriate life/work balance within the last year, maybe thats where long-term financial planning is headed, too. Maybe, just maybe, people will figure out how to have a more significant financial lifestyle in their working years, then recast their lot to a more modest and sustainable post-work financial existence.

Dont get me wrong, thats exactly what millions of people unwittingly do now, without the math to support the theory. But Im suggesting that people might harness the powers of being more mentally well now and fight harder to make the math work indefinitely.

Its actually a reasonable evolution. At first, there was the modest working-years lifestyle that created a reasonable nest egg. Then the F.I.R.E. (financial independence, retire early) movement convinced us a spartan existence during the work years can lead to a long and comfortable retirement. Now, after a year of anguish and languish, its possible people will figure out how to have their cake and eatit, too.

Which, by the way, is a tough promise mathematically. Will people really be able to spend aggressively during their working years, then glide into a more modest retirement?

Im not holding my breath.

My gut tells me this grand experiment goes out with a whimper in mid- to late-2022. Youll know this is the case when consumer debt levels begin to rise exponentially once again. Debt levels are already rising, and I think the savings rate that rose briefly in 2020 will make its way back into the cellar. Yet there is some appeal and practicality to giving mental health more influence in our financial decision-making process.

Check back with me again in nine monthswho knows what Americans will be doing then?

__________

Dunn is CEO of Your Money Line powered by Pete the Planner, an employee-benefit organization focused on solving employees financial challenges. Email your financial questions to askpete@petetheplanner.com.

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PETE THE PLANNER: As pandemic eases, lifestyle spending will increase - Indianapolis Business Journal

Meghan Markle and Prince Harry welcomed their newborn daughter, Lilibet Lili Diana Mountbatten-Windsor, on Friday, June 4 in Santa Barbra, California, and announced the happy news and gorgeous name of their daughter that honours the Queen of England and the late Princess Diana the following Sunday (June 6). Since the announcement, tons of media reports have claimed that the former Duke and Duchess of Sussex offended the Queen by using her childhood nickname for their newborn, with some reports even going as far as claiming that Harrys grandmother was deeply hurt and angry by Meghan and Harrys choice, but is that truly the case?

According to reports, the name Lilibet has been the Queens nickname among her family members since she was a young child and originated from her own struggle to pronounce her name at an early age.

It was also revealed previously on Netflixs The Crown,that the nickname was often used by her late husband Prince Philip, who only passed away in April just months from his 100th birthday, so this particular name should invoke fond memories for the Queen.

Following the announcement of the birth, Buckingham Palace issued a statement to congratulate Meghan, Harry and Archie on their new addition to their family! Which was shortly followed by a sweet message from the Duke and Duchess of Cambridge on their Instagram page. Check out the post below.

And although it seemed that Lilis name was accepted by the royals, the former Duke and Duchess of Sussex, who were already parents to two-year-old Archie Harrison, were later forced to issue a statement after their daughters name caused quite the online stir with royal watchers and commentators.

Despite the sentimental nod to both Prince Harrys grandmother and late mother, Princess Dianna, some have criticised Harry and Meghan for the decision. Some suggesting that Harry and Meghandidnt approach the Queen for permission to use the personal name.

Whilst others have claimed that this is an attempt to smooth things over with the Royal Family, after a year of turmoil, following their decision to step down from their duties as senior members of the Royal Family in March 2020 in order to pursue financial independence, as well as their more recent explosive tell-all interview with journalist Oprah Winfrey.

Whatever their reason for using the sweet and sentimental name, the couple made sure to set the record straight on those wild claims.

A spokesperson told UK publicationThe Independent:

The Duke spoke with his family in advance of the announcement. In fact, his grandmother was the first family member he called.During that conversation, he shared their hope of naming their daughter Lilibet in her honour. Had she [Her Majesty, Queen Elizabeth] not been supportive, they would not have used the name.

Currently, no pictures of baby Lili have been released, and were not expecting any from the notoriously private couple for some time still, but it seems were not the only ones that are waiting to catch a glimpse of the newborn.

Kate Middleton who attended the G7 Summit expressed her excitement for the new addition to the family but confessed she has yet had the opportunity to meet her niece, even over facetime, although she hoped she would meet Lilibet soon.

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Did you really think Meghan Markle and Prince Harry offended the Queen by naming newborn daughter Lilibet? - Kardashian Dish

Investing for the future is not just about generating income on the side. It also involves setting yourself free from debt and enjoying wealth without too much hassle. You cant make the most of life if you are restricted financially, which is why many people desire financial independence.

If you count yourself among those who want to worry less about paying bills and finding money to finance your ideal lifestyle, theres no better time to be financially free than now. Here are the tips you need to get started:

The road to financial independence isnt an easy one. You will need to sacrifice immediate comforts, be bold enough to take risks and make adjustments to your lifestyle. The first thing you need to have in order to get started is discipline. Without it, it will be impossible for you to stay on the right track, let alone develop wise spending habits. Apart from that, you should also strive to get rid of debt and avoid applying for new loans (unless its for financial investment).

As you develop discipline, you need to have a good grasp of your financial situation. For this, you can start by analyzing how much money that flows in and out of your bank account. Fortunately, keeping track of every dollar you earn and spend is made easier by personal finance apps such as Monefy, Mint, or YNAB. These are also great for budget tracking features so you will have a good visual of your financial health.

After determining your financial situation and saving enough to build a portfolio, you now need to determine your game plan for investing. Knowing such factors as your risk appetite and your overall goals for the future helps you choose assets that align with your game plan. Whether you want to invest in real estate or ride the crypto-wagon, you need to back up your strategy with a realistic goal. Dont just say you want to eliminate your debt. Instead, determine that you want to build a passive income stream so you dont have to work as hard.

It takes time to be fully independent, but making the effort right now helps you build the kind of financial legacy you will be leaving behind. Theres no harm in dreaming, but it takes effort to concretize your plans. With that being said, strive to learn as much as you can from financial gurus. You can also seek out investment opportunities and brainstorm ideas for products and services that people need. Put in the work now and plant the seeds for a financially free future.

Financial independence is possible only when you commit to managing your finances and changing your money habits. Consider the tips above and chart your journey to better control your wealth.

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How to Get Started On the Road to Financial Independence - NuWireInvestor - NuWire Investor

ST. LOUIS, June 3, 2021 /PRNewswire/ --Barwick Consulting Services, a financial services company in Saint Louis, is combining holisticfinancial planning, red-carpet service and creatively customized tax, retirement and investment solutionsunder one roof. The goal: empower clients and businesses with the most dependable and comprehensivefinancial planning services in the country.

With 20 percent of Americans saving none or little of their annual income, according to CNBC, and morethan 40 percent with less than $10,000 tucked away for retirement, according to GoBankingRates, i there is agreat need for a true concierge-style financial service that can better secure individuals' financial futures.

"Financial planning can be a formidable task for a lot of people. We seek to alleviate that stress,"says Kurt Barwick, founder of Barwick Consulting Services. "Our team of financial advisors are very capable atharmonizing all areas of your financial portfolio. We make certain no element is forgotten orunaccounted for and that all arms are working in synergy with one another."

By specializing in "holistic financial planning," Barwick Consulting Services ensures coordination of all aspects of clients'portfolios. This includes tax planning, retirement planning, estate & legal planning, risk management &insurance solutions, mortgage & real estate solutions, corporate executive planning and businessconsulting. Furthermore, Barwick Consulting Services works exclusively with the most reputable and stable financial firms in the country to provide clients financial products they can depend on for a lifetime.

Barwick Consulting Services, Inc was established to provide our clients long-term, value-added financial counsel and investment performance with exceptional service. We believe in taking a holistic approach to financial planning for our clients. Barwick Consulting Services will work alongside our clients in articulating establishing and achieving their financial life goals.

Barwick Consulting Services believes that although peace of mind is not for sale, it can be achieved with efforts and planning for a comfortable and secure retirement. The key is to build trustworthy relationships with professionals who educate you about retirement options while offering proven real-world solutions that work for your individual retirement needs and concerns.

"We believe the best financial advisors are not only highly knowledgeable but also intensely creative," saysBarwick. "At Barwick Consulting Services, each and every portfolio is analyzed independently, and solutions arecustom-tailored to fit each client's distinct needs. We then build portfolios using an unlimited number ofoptions that leverage both traditional and out-of-the-box strategies to target optimal results. It's actually a bit of an art."

For more information, please visit https://www.barwickconsultingservices.com.

ABOUT BARWICK CONSULTING SERVICES

Based in Saint Louis, Missouri, Barwick Consulting Services was founded with the goal of assisting our clients in every aspect of their financial lives. We have provided the most personal service available, thus earning a reputation for excellence in our industry. For each of our clients we strive to help create financial stability and security to provide financial independence.

i http://www.cnbc.com, 65% of Americans Save Little or Nothing - and Half Could End Up Struggling in Retirement, March 15, 2018https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Barwick Consulting Services. Insurance products and services are offered and sold through individually licensed and appointed agents in all appropriate jurisdictions under Barwick Consulting Services. Investment Advisory Services are offered through Virtue Capital Management (VCM), and SEC Registered Investment advisor. Barwick Consulting Services, Inc. & VCM independent of each other. For a complete description of investment risks, fees and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative or by contacting Virtue Capital Management.

Media ContactSal Velazquez213-347-9353[emailprotected]

SOURCE Barwick Consulting Services

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