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Safe Money & Retirement Financial Planning Strategies: Bank On Yourself

Traditional retirement planning methods often do not provide the level of financial security they promise, with many retirees expected to outlive their savings. The typical retirement account only has around $135,000, which equates to a maximum of $600 per month. Retirement accounts like 401(k)s and IRAs are also associated with numerous uncertainties, such as unpredictable market volatility, … [Read more...]

Scaling the Retirement-Savings Peak Is Tough; The Descent Is Tougher

Retirement planning is a complex task that necessitates a comprehensive strategy. The initial step is to devise a stable income plan to substitute your regular earnings, which involves evaluating your current financial situation, your requirements, and the sustainability of your resources. It's also crucial to take into account risk and tax considerations. Investments can be classified into three … [Read more...]

Social Security Claiming Strategies for Couples

The AARP Essential Rewards Mastercard from Barclays is offering a $100 cash back bonus for new cardholders who spend at least $500 within the first 90 days of approval. This offer is not exclusive to AARP members and the card has several cash back rewards on purchases. These include 3% cash back on purchases at gas stations and drug stores (excluding Target and Walmart), 2% cash back on eligible … [Read more...]

Retirement withdrawal rules are ‘crazy’ this year, IRA expert says. Here’s what you need to know

Changes in the rules for required minimum distributions (RMDs) from retirement plans have caused confusion among retirees. Initially, the age for obligatory yearly withdrawals was 70½, but this was raised to 72 in 2019 and will increase to 73 in 2023. The regulations for RMDs from inherited individual retirement accounts are more complex, resulting in the IRS waiving penalties for missed … [Read more...]

Passive Income Ideas That Work

  Achieving financial independence has become a goal for many individuals. As such, the idea of passive income has become increasingly more attractive. Passive income is defined as income that is generated without having to do any active work. This could mean earning money from rental properties, investing in stocks and mutual funds, or even starting a blog. Regardless of the source, it … [Read more...]

How to Earn Dividend Income

  Investing is an excellent way to secure your financial future. Earning dividends can be an additional source of income and an invaluable part of any long-term portfolio. Dividend income is a regular payment made to shareholders of stocks, funds, or other investments that have steady cash flows. It is a share of the company's profits allocated to investors to reward them for holding their … [Read more...]

Tips for Making Your Retirement Savings Last

  Though retirement might seem far off, it’s never too early to start saving for it. With all the uncertainty in the world, now is as good a time as any to start thinking about your future and how you'll support yourself and your family during your golden years. Save regularly: Begin setting money aside as early as possible. The sooner you start saving, the more time your money has to … [Read more...]

How to Plan for Your Financial Future

  When your finances are in good shape, you feel better. When you're older, you have a greater understanding of how to manage your money and save for your future. You can sleep soundly at night, knowing that your wealth is in good hands. Sounds good? A vast majority of Americans lack personal financial planning skills. How bad is this problem? According to CNBC, most adults are not good at … [Read more...]