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What is Enough to Live Your Best ROL?

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What is Enough to Live Your Best ROL?

According to one popular rule of thumb, retirees should be able to withdraw 4% from their retirement accounts every year to live comfortably and not run out of money.

Another number you might have seen floating around social media is $75,000, which, according to some experts, is where annual income and peak happiness intersect.

Many other retirees have their own number in their head that they want to "hit" before they stop working. But do any of these figures really equal "enough" in retirement?

More than any dollar amount, having "enough" to retire is about feeling confident that every piece of your financial plan is aligned to sustain your Return on Life (ROL) for decades to come. Start making your own calculations by thinking about these four key categories.

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The Importance of Balancing Saving and Spending for Doctors and Dentists

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The Importance of Balancing Saving and Spending for Doctors and Dentists

Doctors and dentists often find themselves on very different $Lifeline trajectories than friends and family members who don't work in health care. While many folks in their early 20s might be earning real money at their first jobs or getting married, you might still be in school. Your friends might be buying houses while you're still working through a low-paying residency. And once you're an M.D. or D.D.S., it can be very tempting to treat that high salary you've worked so hard for like it's a jackpot.

Use these three tips to balance responsible spending and saving so that you can earn more Return on Life throughout your career…

Tariffs - The What, Why, and Potential Impacts

Tariffs - The What, Why, and Potential Impacts

What are Tariffs?

Tariffs are taxes or duties imposed on imported goods by a government.

Why are they Used?

Their intent is to protect domestic industries, encourage local production, generate government revenue, reduce reliance on foreign goods or respond to trade policies of other nations.

What is Their Potential Impact?

Tariffs raise prices for consumers, affect trade relationships with other countries, and influence economic growth.

For more details and information check out the Client Resource Kit on Tariffs from First Trust Portfolios.

Focus On What You Can Control

Focus On What You Can Control

In his classic business book "The 7 Habits of Highly Effective People," Stephen Covey encourage folks to draw strong distinctions between "Circles of Concern," "Circles of Influence,” and "Circles of Control."

You might be feeling like 2025 is already filling up your "Circle of Concern." From changes in Washington to wildfires, from global conflicts to bumpy markets, we've all experienced some significant ups and downs that could affect our lives, work, and finances for the rest of the year.

But while none of us can prevent a natural disaster or stabilize tech stocks, we can use Covey's system to reframe our perspective, refocus our energy, and improve our Return on Life.

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Spring Cleaning for Retirement

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Spring Cleaning for Retirement

Much like the arrival of spring, retirement can be a time of fresh starts and new beginnings. Navigating this major $Lifeline transition can also give retirees an opportunity to "spring clean" more than just our overstuffed closets and garages. Retirees can clean out the things in life that no longer bring them joy and make room for more growth, more fulfillment, more memories, and more Return on Life.

Start by looking back on your career and identifying what you liked most about your job. Then, think about how you can clear away the things that made work feel like work, such as:

What March Madness Can Teach Us About Your Financial Plan

What March Madness Can Teach Us About Your Financial Plan

Who's the "Cinderella" team that you predict with bust brackets in this year's March Madness?

Everyone loves a good underdog story, but the history of the Big Dance tells us that the clock strikes midnight more often than not. There are more than 350 schools in Division 1 men's basketball. But 62 of the 84 National Championship games played since 1939 have been won by only 15 teams, headed by perennial powerhouses UCLA (11 titles), Kentucky (8), North Carolina (6), Connecticut (6), Duke (5), and Indiana (5). A hot streak might propel a surprise school through an extra round or two of the tournament. But much like a solid financial plan, schools that have consistently built their programs for the long run tend to get the best results.

Here are three more traits of successful teams that can make your financial program a consistent winner.

Focus on Consistency for a Better ROL

Focus on Consistency for a Better ROL

The most impactful investments tend to be those that we make consistently over time. When we stick to a plan and keep checking off the items on our to-do lists, our efforts compound and build towards the results that we want.

Think about how being consistent in these three areas could help you achieve your long-term goals and improve your Return on Life (ROL).