Save Now or Die Trying: Achieving Long-Term Wealth in Your 20s and 30s
Praise For Save Now or Die Trying\ "Most Americans see retirement as a certainty. The problem is too many older Americans have not saved enough and too many younger Americans start too late. Mark Bruno's Save Now or Die Trying provides an actionable wake-up call for some and an important jump start for others."\ —Mellody Hobson, President, Ariel Capital Management, LLC/Ariel Mutual Funds\ You could work until the day you die. Or you could start saving just a little bit right now and actually...
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No one will foot the bill for your retirement. Not your employer, nor any government agency. The truth is, the way we live, work, and retire has changed. The burden of retirement planning has shifted almost entirely tothe individual, so understanding how to secure your financial future right now is more essential than ever—especially if you're decades away from your last working day.If you're a young working adult, you probably haven't fully acknowledged the realities of retirement. In doing so, you are ignoring many of the investment advantages that you now have over previous generations. More importantly, you are also forfeiting your prime saving years. You will never be able to recoup the power and flexibility you have in your 20s and 30s to make meaningful contributions to your future financial well-being.That's why author and retirement expert Mark Bruno decided to write Save Now or Die Trying. This valuable guide focuses on the need for today's younger working generation to take full advantage of the most important elements of the retirement planning process—time and participation. Through practical profiles of young adults dealing with difficult financial situations and detailed discussions of the different options available for building long-term wealth, you'll quickly discover how to make the right retirement savings decisions.Save Now or Die Trying covers both basic and in-depth financial planning concepts that must be understood in order to make your retirement work, including:Making the power of compounding work for youBalancing saving for retirement with more immediate financial responsibilitiesGetting free money from your job to saveIncreasing your take-home pay by savingPutting your 401(k) on autopilotAnd much moreSave Now or Die Trying also clearly answers commonly asked retirement questions such as what's the difference between a Roth IRA and a Traditional IRA; how much should you be contributing to a 401(k); and what savings vehicles are available for those who are self-employed?Filled with in-depth insights and accessible advice, Save Now or Die Trying will show you how a serious commitment to retirement today can put you in a better position to enjoy life tomorrow.
Preface: Confessions of the Author viiAcknowledgments ixNo One Will Reward You for a Job Well Done 1Plan Now, or Die Broke 13The Truth, the Whole Truth, and Nothing But the Truth, So Help Me God: The Facts by the Numbers 21The Self-Proclaimed Freak 29Breathing Life into Your Retirement: The Basics of 401(k)s 35Anything But Entry-Level 65On Your Own: Individual Retirement Accounts 71Taking the Heat to Stay in His Kitchen 91You Are Not on Your Own: Help Has Arrived. Finally 97The Teacher with More to Learn 115Dealing with Debt and Fighting Gravity 121The Mayor's Lounge 129The Roth 401(k): The Future of Your Future? 135Any Door Will Do 141There Is a World of Help Out There 147An Afterword 153Save Now or Die Trying: The Ten Commandments 155Two Steps to a Budget 159Your Seven Rules of Thumb 163About the Author 165Endnotes 167Index 171
