Today's episode is a doozy! After chatting about a phenomenal day date we had (facilitated by College Nannies and Tutors - check them out here and let them know we sent you!) we discuss all things retirement! We got inspired by Kelsey becoming vested in her employer-based retirement account (YES!!), so we run through what it is, how to do it, and how to deal with threats to a good retirement plan. We also chat about 401Ks and pensions, personal savings and passive income, and Social Security. And we run through some ideas on how to strategize for long-term saving, even putting tomorrow's retirement planning in the context of today's crazy politics.
And, in One Big Thing, Kelsey like so many others is missing Richard Simmons, and Chris is lightly contemplating the fundamental structures of American democracy.
Oh, and to play along, check out these great resources. They'll help you think through your own retirement plans:
- To set up a Social Security account so you can track your own contributions and estimated pay-outs, go here.
- To check out Vanguard's excellent index funds, which is our main non-employer based long-term savings, visit this site.
- To learn about 401Ks and 403Bs, here's a quick little explanation.