It is always better to start your retirement savings early that way you have more time to save up for it. But, if you do end up starting saving late, this is better than not saving at all and you can still make a pretty decent savings out of it. Start saving more than you normally would when you were younger, and cut expenses that you don't need. If need be, you can always work a bit longer than … [Read more...]

When unemployment became real after the pandemic began, people started thinking of new ways to start their own business. Mother in particular were already overwhelmed with being a mother and a teacher at the same time that they didn't think this sort of lifestyle would suit them. Owning your own business means that you are never off the clock and that you have to deal with the unexpected all on … [Read more...]

For people thinking about retirement in the coming days or months, they are said to be reconsidering their funds that have set aside as of right now because of the pandemic and the uncertainty in the market that it has created. People are considering putting their funds into an annuity because this will guarantee them income for the rest of their lives. More and more people are concerned about … [Read more...]

Now that you're retired, you're probably ready to just let loose and let the good times roll. Not so fast though, this isn't the time to just turn off your brain and forget about any financial knowledge you have had. If you are retired, you likely have a retirement deferment account. You should consider changing the way you have it set up because at a moments notice, they can change the tax laws … [Read more...]

You want to start planning to be debt free ahead of time. Even if you can only put down $25 a week towards your debt it's better than nothing. It adds up if you plan to only have debt that is less than five thousand dollars. By working a little longer than you intended you can cut down on debt by a lot. You can also have a part time job for paying off debt during retirement. Key Takeaways: … [Read more...]

Debt accumulates when we live beyond our means, but there is a way to dial that amount of debt down, especially when we retire. We will want to make sure that all of our debt is payed off and that we are able to live within our means after the debt is all paid. This includes paying off debt from a home lone or a car. We will live a much more relaxed life when we know just what our life costs. … [Read more...]

An annuity ladder is simply a way to build and preserver wealth. There is no way to predict what interest rates will be present, no matter how skilled a financial advisor may be. This is why an annuity ladder is so important, because it minimizes the risks of low returns. A lot of people who are close to retirement or who have already retired, have an annuity ladder. This is because, it is a … [Read more...]

One thing we don't realize we might need by the time we retire us health insurance. You might not know how to factor in the costs of the health insurance. You might end up spending thousands of dollars a month when you factor in doctor visits, medication, and various co pays. Long term care is best for those that are retiring because you may have to end up with nursing home care either at home, or … [Read more...]

No matter how far away retirement is you can start planning for it now and even make moves to lower your taxes, since taxes will still need to be paid during your retirement. You can open an IRA or a roth account to lower your taxes during your retirement. It is also a good idea to pay off your mortgage before you retire, and opening an investment account may also be a good idea for you to plan … [Read more...]

A lot of us spend years dreaming of retirement, but we don't necessarily know what that entails as far as what type of benefits we are going to have. Most of us are going to have social security benefits, and for so many, this is a large part of their income. It is important to understand the social security program because a lot of people go into it, not getting the amount they should be … [Read more...]