Do the math2 of 7Psychologist Katie McCorkle says, "While my profession is not necessarily low-paying, it has been a constant balancing act to generate enough income to keep my bills paid -- and still have enough time and energy to do all that's been required to launch Balanced Heart Healing Center, the 501(c)(3) nonprofit integrative healing center I founded. It would have been so much easier if I could have trained my four cats to help generate income!"While McCorkle plans to work through retirement -- she says, "Pursuing my passion is my retirement" -- she also knows she needs money in the bank. She accomplishes this by transferring a predetermined amount of retirement money to savings before doing anything else with her paycheck. "You begin to train your brain to think of your income as the amount you have left after taking out your retirement savings, and you adjust your lifestyle to that amount. Commitment and consistency is the key to making this work." Related Articles:Build a secure retirementTake control of 401(k)Saving for retirementRoth IRA as emergency fundRelated Links:Retirement plan trendsStrategies for investorsFund managers' strategiesIRA rollover rules advertisement
Psychologist Katie McCorkle says, "While my profession is not necessarily low-paying, it has been a constant balancing act to generate enough income to keep my bills paid -- and still have enough time and energy to do all that's been required to launch Balanced Heart Healing Center, the 501(c)(3) nonprofit integrative healing center I founded. It would have been so much easier if I could have trained my four cats to help generate income!"
While McCorkle plans to work through retirement -- she says, "Pursuing my passion is my retirement" -- she also knows she needs money in the bank. She accomplishes this by transferring a predetermined amount of retirement money to savings before doing anything else with her paycheck. "You begin to train your brain to think of your income as the amount you have left after taking out your retirement savings, and you adjust your lifestyle to that amount. Commitment and consistency is the key to making this work."
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.