Although you cannot control what the markets will do in the future, you can get an idea of how much risk you are willing to take with your investments. If you've ever wondered how you would deal with a challenging market, you likely got your answer in 2022. In the first half of the year, stocks plunged by around 20%, which likely shook the faith of many investors in their investment … [Read more...]
Retiring Minds: Handling the Stress and Anxiety
People need more than money to have a successful retirement, they also need emotional reserves, say experts. We often don't think about the psychological changes that come with retirement, like having to cope with the loss of your career identity, finding new ways to socialize and connect with others, spending more time with your romantic partner than ever before, and finding new and … [Read more...]
Simple Steps to Building Wealth
Money cannot necessarily buy you happiness, but if you manage it correctly, it can bring a sense of security. If you do not have a handle on money management, you may constantly feel like your life is one step away from a financial catastrophe. One quarter of all Americans report feeling anxious about money on a daily basis, while 37% say they would use a credit card to cover expenses in … [Read more...]
Commandments To Improve Your Financial Health
Broadly speaking, personal finance is the way you manage your money and plan for your future. All the financial decisions and activities you undertake will have an impact on your financial wellbeing. It's important to think about what we can do, in general, to help improve our financial health and habits. Here are ten general personal finance rules that can help you achieve your financial … [Read more...]
Entrepreneurs and Retirement
The majority of Americans who are working class are employed by companies that offer retirement savings options in the form of a 401(k), 403(b), or pension plan. Because these contributions are automatically deducted from the employee’s paycheck, saving for retirement tends to be a rather painless process. Over time, the cumulative effect of regular monthly contributions leads to a nice … [Read more...]
Retirement Mistakes You Should Avoid
As more and more baby boomers get closer to retirement age, they start worrying about how they will afford it. You should ask yourself how prepared you are for retirement, how much money you will need, and if you understand all the details of your pension and retirement accounts. It is also important to think about when you will want to start claiming Social Security benefits. These are … [Read more...]
Retirement Planning Tips in Your Mid-60s and Beyond
Challenging though it may be, there are steps you can take in your mid-60s and beyond to plan for retirement. The age for retirement was once 65, but that has changed over time. The Social Security Administration has raised the age at which full retirement benefits are available. -There has been a shift from company-sponsored defined-benefit plans to defined-contribution … [Read more...]
Great Tips For A Happy Retirement
We've got all the tips you need to make the most of your new-found free time, from keeping fit and healthy to making the mental adjustment. If a happy retirement is what you're seeking, here are tips to make it happen. 1. Get Your Finances In Order You will need to figure out how much money you will have to live on once you retire. Reducing your spending and pay off your debts leading … [Read more...]
How to Relieve Money Stress
Prices for gas, food, clothing, medical care, and housing increased an average of 8.6% from May 2021 to May 2022 according to the U.S. Bureau of Labor Statistics If you're struggling financially or are worried about your future, you're not the only one. A poll from May by the Pew Research Center showed that 70% of Americans see inflation as a very big or moderately big problem in the … [Read more...]
Habits Of Financially Successful People
Taking control of your finances can help set you up for long-term success by creating a plan to pay off debt, including student loans, credit cards, and even your mortgage. Also, it's critical to focus on building an emergency fund and working toward hitting bigger goals, like having enough money for retirement. Regularly review and update your financial plan An effective financial plan is not a … [Read more...]