The NBA claims that 60% of players are broke within five years after retirement. Wonder how pro athletes can go broke after making millions of dollars? Former NBA player Josh Childress gives some insight (it didn't happen to him).
This twenty-something couple's goal is retire before age 30 by saving 75% of their income. They say: "You don't need a high income to retire early. But, you are going to need to give up a lot of 'things' for financial freedom. Some people think living without luxury isn't living, we think living without time isn't living. We just want people to know they're making a choice."
Nightly Business Report reporters Joe Collum and Connie Hicks look at how your retirement lifestyle affects your financial planning.
This is the first video in a series. To see the other videos, visit http://www.iptv.org/video/detail.cfm/2139/nbrt_20080529_nbr_ready_retirement
In this interview, well-known financial advisor Dave Ramsey answers some viewers' questions about handling money to prepare for retirement. He also discusses his "Baby Steps" for retiring with dignity and his "envelope method" for budgeting money.
Certified Financial Planner Alan Moore discusses rules of thumb regarding how much you should have saved for retirement by each decade of your life, the possible future of Social Security, why the traditional model of retirement is dead, and more.