September 13th, 2013
Several Good Reasons to Not Contribute to Your 401(k) “A very common piece of advice that’s given about retirement is that of maxing out a 401K plan at work. More than a few people, including professional financial advisors, will tell you that this is a way to make sure that your retirement is truly golden. While we’re not saying that, for most people, this is an sage advice, it’s not for everyone. The fact is, there is no single universal rule for retirement planning and indeed, everyone has a set of unique circumstances, goals or needs determining what their correct course of action should be. In some cases, putting all of your money into your 401(k) might not be the best idea. In fact, we’ve put together several reasons to not contribute. Enjoy.” So Over This
Easy Ways to Save Money as a College Student “When I was in college, learning how to get by on a little bit of money took some getting used to. By my senior year, it was much easier than my freshmen year. All along the way, I learned tips and tricks to stretch my limited amount of dollars. Here are four tips that I used that helped me to keep my spending in check.” 20′s Finances
Five Checking Account Fees You Might Not Be Aware Of “For many people, it can be easy to trust banks and not read the fine print that explains various checking account fees that can add up to hundreds of dollars each year for the customer. By becoming aware of the most common fees from banks, it can be easier to avoid hefty fines and save money in the long run. Fortunately, since 1991, the Truth in Savings Act requires banks to disclose fees to each customer when opening a new account and update them on new fees.” My Financial Reviews
4 ways to fix an unsteady cash flow “When I was still a student, I was pretty much broke all the time. I didn’t mind too much though. I knew that when I graduated and got a “real job,” my money worries would be over. Right? But even after I found a great job with a decent salary, I noticed something weird. At certain times of the month, my checking account was overflowing. There was a couple thousand dollars in there! Other times, I would have less than $100, prompting me to worry about what would happen if a check cleared my account a day earlier than I expected.” Money Blue Book
Three Budgeting Processes That Work “CBS news reported that 76% of American households are living paycheck to paycheck. Less than half have three months of worth savings. We are sending our kids to college with no money and over a trillion dollars of outstanding student loan debt. Normal in America is being broke. It’s time to get weird.It’s time to stop managing our debt and start eliminating it for good. It’s time to get on a Money Plan and use a budgeting process that works.” Money Plan SOS
7 Myths About Secured Credit Cards “For many, access to credit cards is as simple as responding to a solicitation in the mail, or filling out a simple online application. But for those with past problems, low income or no credit history, it’s not so simple. That’s where secured credit cards come in. Put up a deposit to secure your card, and odds are good you’ll be approved. Sound simple? It is, but there are still plenty of misconceptions about secured cards.” Money Talks News
September 19th, 2012
When I got in to work at 8AM, there was a note on my computer: “See me. –Tom.” My first thought was: what did I do wrong now? Tom was the Editor-At-Large for Institutional Investor News, where I was working as a reporter. Editor-At-Large meant that he’d been with the company since the early 1970s and had achieved the status of elder statesman, guiding light, etc., etc. But at the same time, he didn’t really even really work there anymore. He just kept coming in every day and doing the same thing he’d been doing at the company for 30 years—terrorizing reporters.
January 12th, 2012
With today’s financial challenges, more and more people who are approaching retirement age are getting news from their financial advisor that they don’t want to hear. Earmuffs alert! As a financial advisor, some of my hardest meetings with clients or prospective clients are those where I have to “speak the truth” to them. It’s never fun, but I realize it’s a necessity if they ever want to retire successfully.
May 25th, 2011
For most of us, retirement is a long way off (although not as far off as it used to be). Therefore, saving money for retirement may seem like an abstract topic. Many questions arise when contemplating the subject: How much do I need to retire? How soon do I need to start saving for retirement? And the list goes on.
April 4th, 2011
Retirees are struggling these days, even the ones who’ve been saving for retirement all their lives. Low interest rates have them in a bind, and threaten the earning potential of the rest of us looking towards retirement.
September 14th, 2010
Which is the greater evil: inflation or deflation? Well, that depends who you are.
Which one should we expect to see? Depends how it goes.
The economy is full of vague answers and inaccurate predictions... and the new buzzword is "meflation".
September 7th, 2010
When stormy economic conditions are present—like nowadays—more and more people are doing the financial equivalent by cracking open their 401(k) nest eggs, and even more people are wondering whether that’s okay. The short answer is… NO!
April 9th, 2010
If you’ve been socking away retirement money, you could be eligible for the Retirement Savings Contributions Credit, aka the Saver’s Credit. This often-overlooked credit rewards you for having the good financial sense to build your nest egg early by shaving off as much as $1,000 on your tax bill, $2,000 if filing jointly.
It’s simple: make eligible contributions to a qualified retirement plan—like an employer-sponsored plan or IRA—and you can claim the credit. The saver’s credit appears on the Form 1040 and Form 1040A tax returns and works as a credit rather than a deduction. Tax credits are generally a better deal because they immediately reduce the amount of tax you owe to the IRS. Contributing to your retirement plan to reduce your taxes is a win-win situation—you pay less income tax, it doesn’t cost you anything to move around your money, plus you build a sound future for yourself.
February 1st, 2010
The next wave of rewards card programs is flooding the market, offering what’s termed “retirement rewards”. These rewards offer consumers the opportunity to turn points into cash to be invested in their retirement fund. The more familiar, traditional rewards programs of airline miles and cashback offers will have to move over for the innovative programs issuers have been rolling out to interest new customers and keep loyal ones: programs to donate to charities, pay off taxes, manage finances, and now, build up a nest egg.
As you are credit card shopping for retirement rewards, it’s crucial that you go beyond the following chart and make sure to read the fine print for each card and understand the fees and services before applying. Most of the following cards require no annual fee and some have no limit to how many points you can earn and redeem. Also, all cards, except for the NestEggz Visa, require that consumers have a retirement account at the participating financial company in order to redeem rewards for retirement dollars.
May 15th, 2009
If there is one thing in your life that you are simply never going to have control over, no matter what you do or how hard you work, it is the unchangeable fact that everyone grows old. Consistently changing in age is one thing that simply cannot prevent from happening. As every year passes, we grow a little bit older, and if we are not worrying about our futures, then we are not doing something right. If you have not already begun to think about your future, then it’s time to start doing so, no matter what age you are. Whether you are a teenager and just starting your first job, or an adult with a family of your own, there are many considerations that you need to make that will allow you to better prepare for your future and you eventual retirement.
Many people figure out how to enjoy their life to the fullest, but they never put any real consideration into planning for the future, adulthood and their retirement. What many people never really realize is that the earlier you begin to think and plan about your retirement, the more chances you will end up having to enjoy your old age to the fullest rather than finding yourself stressed out because you lack the financial stability to enjoy your senior years. One of the most important aspects that you should consider when it comes to planning for retirement is that you need to secure your financial needs as well as you can in order to enjoy peace of mind later on in life.
Retirement financial planning is an important concept that any wise person should put serious consideration into. The younger you are when you figure out your retirement plan, the better off you will be. When you start to consider your financial needs for your retirement, it is important to set a target figure so that you can work toward that figure through the years. Financial goal setting is vital when it comes to retirement planning and beginning to put away money for your retirement years.
Now that you have a financial figure that you can keep in your mind, the next most logical step is to begin planning on how you can reach that goal. There are several different methods on how you can reach your target financial figure, slowly and effectively. However, one of the easiest ways that you can start reacting your target figure is to begin to save money immediately. Saving money is one of the surest ways that you can plan for your future retirement. For some people, one of the best ways that you can begin to save for your financial future is to begin saving, watching your money grow slowly in the process.
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