What Is The Rule Of 55?

What is the rule of 55?

The goal of saving for retirement means just what it says: you’re saving the money that you’ll need to live on once you retire. Many people save their money through their employers’ 401(k) program. Because that money is supposed to be used later in your life, which is typically when people retire, there is a 10% penalty imposed on you if you withdraw it prior to age 59 1/2. However, … Read more

Axos Bank Review: No Fees Makes Axos A Smart Choice

Axos Bank Review: No Fees MakAxos Bank Review: No Fees Makes Axos A Smart Choicees Axos A Smart Choice

With so many banks out there, it can be hard to find the one that has the most benefit for you and your money. Axos Bank may not be on your radar now, but it should be. Our Axos Bank review offers a critical looking at banking with this online-only institution. Table Of Contents Is Axos Bank Legit Two Main Checking Account Options How Do Axos Bank Checking Accounts Compare … Read more

5 Benefits Of Spending Less–And How To Start Right Now

5 Benefits Of Spending Less--And How To Start Right Now

When you get down to it, there are two ways to accumulate more wealth. One is by spending less money and the other is by earning more money. We think that most people should consider starting with spending less. In a recent video, Jonathan outlined five benefits of spending less as your first step rather than trying to earn more money. As a bonus, he also highlighted five ways that … Read more

What To Do When You Get Laid Off

What To Do When You Get Laid Off

Getting laid off is never fun. As someone who has experienced this three times, it can be disorienting. Your self-esteem may take a hit when your employer decides it’s time to part ways. Once you have these things mastered, you’ll feel in control again and ready to take on the job market. Table of Contents What Is A Layoff? What To Ask Your Employer For When You Get Laid Off … Read more

The 12 Best Ways To Learn At Home

The 12 Best Ways To Learn At Home

Time is a gift. It may not seem that way when you’re suddenly faced with extra time at home because you’ve been laid off or you’re trying to spend less. But it’s important to have a positive mindset and still try to keep yourself and your skills fresh by continuing to learn at home. Table Of Contents Online Learning From Home Periodicals For Learning From Home Books For Learning From … Read more

Stuck Inside? How To Get–And Stay–Healthy At Home

Stuck Inside? How To Get--And Stay--Healthy At Home

When people are looking to trim the excess from their household budgets, often the first thing to go is money spent on physical fitness. We cut out the gym membership, the subscription to healthy eating magazines, or the diet food delivery service. We believe we can get healthy at home without those tools, but where do we start? It’s definitely a challenge to get–and stay–healthy at home when you’re surrounded … Read more

Fun Things To Do At Home When You’re Stuck Inside

Fun Things To Do At Home When You're Stuck Inside

When you choose to pursue Financial Independence, that path inevitably leads to cutting back and saving as much as you can. But that doesn’t have to mean that we sit inside and wallow or cut out all the fun. We still need to take care of ourselves and find things that bring us joy. We can keep ourselves entertained if we’re smart about it. Table of Contents Assess What Entertainment You … Read more

Practical Tips for Negotiating Medical Bills

Practical Tips for Negotiating Medical Bills

If sudden and crippling medical debt can happen to Clayton Bruce, it can happen to you. In the fall of 2016, Clayton and her husband John were on their way to FI. They had paid off nearly $100,000 in debt, and the only debt they had left was their mortgage. Additionally, they had banked $5,000 in savings and switched from traditional insurance to a healthshare plan to save more money. … Read more

Top 10 Best Cities For Financial Independence

Top 10 Best Cities For Financial Independence

Here at ChooseFI, we truly believe that Financial Independence (FI) is for everyone. But let’s face facts, some places are just more “FI friendly” than others.  We reached out to our community and put together a list of the cities we like best for reaching FI. While compiling this list we considered factors such as: Cost of living State and local taxes Median household income Access to free community events … Read more

A Gift Giving Guide To Free Christmas Gifts

A Gift Giving Guide To Free Christmas Gifts

It’s supposed to be the most wonderful time of the year. But when you are watching your spending, it can quickly become the most financially challenging time of the year. Giving free or close to free Christmas gifts can make all the difference. The struggle is real: How do you get a gift for everyone on your list and not break the bank? And if you have children, the problem … Read more