Ever since I can remember, my partner and I have had the ultimate goal to retire in our 40s, and spend the rest of our life together touring the world — living off our investments alone. — More recently, we were discussing our planned relocation and decided to evaluate how much of our monthly incomes we could stop saving and defer to a mortgage, if necessary. Our investments are worth approximately $825,000 safely tucked away in a managed investment account. We ran some extreme numbers and, to…

Only 1 percent are successful in the population. Although there’s no fixed formula to becoming one of them, there are certain paths you can take to increase your chances. — According to studies, only 19% of millionaires received money from a trust fund or estate, and 91% never received any ownership of a family business; a substantial percentage are self-made millionaires. 80% are first generation rich and self-made. Less than 20% inherited significant money (10% or more of their wealth)…

Rising costs of living and increasing debt have driven up up how much people will need to retire. Millennials are looking to a future where nearly 4 in 10 won’t have enough income by the time they reach age 70. — The reality is younger generations are no longer enjoying a better standard of living than their parents. Compared to previous generations, millennials are faring far worse financially. A recent study found that because of factors such as rising rents and student loan debt, the graduating college class of 2015 won’t…

Getting your finances back on track after a battle with addiction can be a slow, frustrating process, but it is a necessary one to ensure that your life in recovery is as healthy and fulfilling as possible. — Anyone that has battled addiction will tell you it is a problem that leaves no stone unturned; it affects every part of a person’s life, and finances are no exception. For years, Jim struggled with depression, addiction, poor health, and then an even harder obstacle — debt.

We asked a group of seasoned investors about the investing knowledge they wish they had in their 20s. If you’re a young investor, here’s a chance to get ahead. — Compounding helps your money grow faster, so investing early is a big plus. Introducing small habits can help you save more and resist the temptation to spend. Investing in a balanced fund can give you instant diversification across stocks and bonds.

Gather round and hear these tales of investments-gone-wrong, and learn from these mistakes. — “This horror story happened before my most recent social media-fueled trading spree, but it started everything. I had connected with someone on social media who described himself as an experienced investor in his 70s. He hated the risk profile of stocks and having to hand over his money to portfolio…

Portfolio management can be explained as the process of building and maintaining an investment account. This can be done either by self or with the support of financial professionals. — When starting your investment journey, the mere thought of managing your own investments can be terrifying. If you’re just starting out, you can explore index funds, or even automated/managed portfolios if you don’t want to manage your own portfolio.

When it comes to money, everyone has their own set of unique beliefs. However, our culture shares some common misconceptions when it comes to money. — Here are 5 money myths that can affect your ability to build wealth and live free. By understanding each one, you can learn their truths which could allow you to achieve greater success with money. Myth #1: Money can’t buy happiness It’s a myth that money can’t buy happiness. Of course, money itself is not the…

If you just happen to hold the winning ticket, deciding what to do with your earnings isn’t a simple process: It’s important to properly protect yourself and your new found wealth. — Here’s what our financial experts say to do if you hit the jackpot: “Winning the lottery is a long shot but holding on to the money is the real challenge. …