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I'm 74 With $120k in My 401(k). Should I Hire a Financial Planner for RMDs?
Yahoo Finance· 2025-10-20 07:00
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. I have a 401(k) with $120,000 in it. I’m 74 and getting the required minimum distribution at the end of each year. Do I need a retirement planner to help handle the withdrawal?  – Susan While technically you don’t need a financial advisor to handle your retirement account withdrawals, it can be useful to talk with one. Between deciding which investments to liquidate, navigating potential tax implications ...
I Followed These 8 Rules To Retire at 54
Yahoo Finance· 2025-09-29 16:58
Core Insights - Chris J. achieved financial independence at age 54 through disciplined financial planning and adherence to specific rules, allowing him to retire early and enjoy life while others continue to work [2][6]. Group 1: Financial Strategies - Rule 1: Live on Half Your Income From Day One - Chris maintained a lifestyle that consumed only 50% of his take-home pay, directing the rest into savings through automated transfers, ensuring an aggressive savings rate despite income increases [3]. - Rule 2: Buy Used Cars With Cash Only - By purchasing reliable used cars with cash, Chris avoided car payments and depreciation losses, opting for vehicles that had already experienced significant depreciation [4]. - Rule 3: House-Hack Your Way To Free Housing - Chris bought a duplex, living in one side and renting out the other, which covered most of his mortgage and related costs, allowing him to build equity and acquire additional rental properties [5]. Group 2: Investment and Savings Maximization - Rule 4: Maximize Every Tax-Advantaged Account - Chris consistently contributed the maximum allowed to retirement accounts, treating these contributions as mandatory expenses, which included 401(k), Roth IRA, and health savings accounts [7].