Retirement Archives - Page 3 of 4 - The Outlier Model

Retiring to a Developing Country? What Can Go Wrong

Allen Francis / August 25th, 2019 / No Comments

I think about retirement all the time. The average annual cost of living standard for a retiree is about $45,000. You can live in many states comfortably, like Alabama, Idaho, Kentucky, and Utah, for less than that annually. If you don’t live in states with large metropolitan hubs, then you should be OK. However, if you’re thinking about retiring to a developing country, then $45,000 a year can...

Posted in: Money, Personal Finance, Retirement, Saving Money, Travel

5 Self-Employment Retirement Options

Chonce Maddox / September 13th, 2017 / No Comments

More and more people are becoming self-employed these days. While being self-employed has many benefits such as having more flexibility or freedom to choose your own schedules, working as much or as little as you want, etc., there are downsides to being self-employed as well. Self-employed people have to pay extra taxes unlike traditional employees do. Self-employment does not come with a regular...

Posted in: Retirement Tagged with: retirement, roth IRA, self-employed retirement options, SEP IRA

cFIREism Review

Chonce Maddox / May 17th, 2017 / No Comments

Do you know what a FIRE seeker is? No, it is not somebody that tries to track down flames! It stands for Financial Independence and Retire Early. Very few people, as hard as they try, are ever able to achieve this. This is because they do not really plan. Last week I mentioned my goal of becoming financially independent by the next 20 years. I’m 25 now so I would be shooting for 45. It’s...

Posted in: Retirement Tagged with: early retirment, financial independence, retirement, retirement calculator

FIRECalc Review

Chonce Maddox / May 12th, 2017 / No Comments

Want to retire? I’m sure we all want to stop working at some point but according to CNBC, 81% of Americans have no idea how much they need to retire. What’s worse, is that nearly 1 in 3 Americans have no retirement savings which keeps them trapped in the workplace for extended years. If you don’t want to be stuck working until you’re 80, you have to think about retirement, investing...

Posted in: Retirement Tagged with: early retirement, FIRECalc, retirement, retirement calculator, retirement planning