Eric Reed

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Articles

How to Invest in X

Aug 15, 2024 | erienewsnow.com | Eric Reed

Social media platform X has been busy this week, with former President Donald Trump returning to the platform for a live conversation with Elon Musk on Monday night, with more than 1 million listeners tuning in worldwide. On Wednesday, Grok, the large language model developed by xAI and available to X subscribers, was updated to version two, giving users wider capability to complete tasks and generate images.
Top 25 Companies by Market Cap

Aug 6, 2024 | smartasset.com | Eric Reed

For most of the 21st century a handful of large tech companies have dominated the stock market. The names have changed from time to time as NVIDIA replaced Netflix, say, or Google and Facebook rebranded to Alphabet and Meta, respectively. But overall, a few companies collectively account for more than a fifth of the market’s entire value. Six companies on the S&P 500 are currently worth more than $1 trillion each: Apple, Microsoft, NVIDIA, Alphabet, Amazon and Meta.
How Much Does a Roth Conversion Cost in Florida?

Aug 6, 2024 | smartasset.com | Eric Reed

When you make a Roth conversion, the costs will depend on where you live. Converting money to a Roth IRA has a major upside, and a major downside. The benefit is tax-free portfolio growth and income. When you withdraw money from a Roth account in retirement, it will be untaxed and will not apply to your taxable income.
I'm 62 With $425k in a Roth IRA and $2,600 per Month between Social Security and Pension. Can I Retire Now?

Aug 1, 2024 | smartasset.com | Eric Reed

For many people, early retirement means 62. This is the age they can start withdrawing money from their retirement accounts and receive Social Security. For example, let’s assume an individual with $425,000 in a Roth IRA, a $1,000 monthly pension, and expect $1,600 in Social Security. Is it going to be enough? As often in retirement, the answer depends on your spending, goals and other factors. With this profile, you can probably anticipate an income between around $44,000 and $60,000 per year.
10 Reasons to Retire Early

Jul 26, 2024 | smartasset.com | Eric Reed

Picking the right time to retire is one of the most important parts of the equation, second only to building the right savings plan. Leave work too early, and you could outrun your savings; wait too long, and you could outwork your good health. Part of this decision is what “early” means to you. Will you retire at 62 or 50? Will you take Social Security at retirement or wait? Are you just retiring from your career, or will you stop working altogether?
What Is Personalized Investment Management?

Jul 24, 2024 | smartasset.com | Eric Reed

Personalized investment management involves building a portfolio that is tailored to your needs. With this approach to investing, you or your financial advisor create a plan and portfolio based on specific goals, options and preferences. It varies from a systematic approach, in which your advisor would help you invest in a series of assets defined by the market and a standard profile.
At What Age Should You Retire From the Federal Government?

Jul 19, 2024 | smartasset.com | Eric Reed

Federal employees generally receive annuity-based pension funds when they retire. Depending on when you joined the government, this may be supplemented by Social Security and a private savings plan. The amount you receive from these various programs depends, among other things, on how long you worked for the government and at what age you retire. As a rule of thumb, the later you retire the more generous your benefits will be.
Understanding the Wealth Effect and How It Works

Jul 12, 2024 | smartasset.com | Eric Reed

The wealth effect occurs when you perceive yourself to be getting richer and increase your household spending. This perception does not necessarily correlate with the reality of your spendable income, which may not have increased accordingly. Here’s what you need to know to keep your finances secure. A financial advisor can help you create a financial plan that aligns with your long-term goals.
I'm 65 With $1.2 Million and $2,900 Social Security Check. What's My Retirement Budget?

Jul 9, 2024 | flipboard.com | Eric Reed

1 day agoCNN — Beryl just smashed all expectations of what an early season hurricane could become, and it has experts concerned for what could be coming next. Typically, early season storms aren’t indicative of what’s to come later in the season because the necessary atmospheric conditions for powerful storms …
I'm 65 With $1.2 Million and $2,900 Social Security Check. What's My Retirement Budget?

Jul 9, 2024 | smartasset.com | Eric Reed

As you approach retirement, your financial focus shifts. During your working life, retirement is about goals and planning. You decide what kind of lifestyle you want, figure out what kind of income will support that spending, then build a savings and investment plan to reach those goals. That should be your retirement approach at age 25, 35 or 45. In your 60’s, though, the accumulation stage is largely over.