Personal Finance Archives - Page 3 of 36

Budgeting, Family & Relationships, Personal Finance, Saving & Investing

Why What You Don’t Know Can Hurt You

March 22, 2019 March 21, 2019

Do you remember that old phrase of years gone by, “ignorance is bliss”? Even if you never have heard that one (although I doubt that), it is something that seems to be true. After all, you aren’t going to worry about that big pothole on the road just a few hundred feet ahead of you when you’re driving to work on this sunny morning—if you are totally unaware of it, right? How can you? You don’t know it’s there. You haven’t heard any problems about it and your mind is drifting along with the latest tunes on the radio as you sip your coffee from your freshly brewed homemade K-cup coffee machine that you made just 10 minutes earlier. Life is good. And then…kaboom! What you don’t know can hurt you.

When it comes to your finances, what you don't know can hurt you. Here are some basics to get you started on your way to learning what you need to know.

Funny thing about that “ignorance is bliss” thing, it has a tendency to sneak up on you and hit you squarely in the eye or even worse, your rear end and lower back like driving over a huge pothole does! That simply proves the premise doesn’t it? What you don’t know can and will hurt you!

Personal Finance

How Do You Have Financial Struggles with a Six-Figure Income?

March 19, 2019 March 18, 2019

To most working families, a six-figure income seems like the antidote to all of their financial struggles. After all, $100,000+ incomes are still not the typical numbers that most people earn these days even when there seems to be more and more of those high-salaried people around us.

It can be difficult to understand, but even families with six-figure incomes can have financial struggles. Here's why that happens and what to do.

I guess the truth about that is a little bit hidden. After all, we never really know exactly what our neighbors’ and friends’ W-2’s look like and the chances are it doesn’t come up in a conversation with them. Even if it did, would they ever tell you the absolute honest truth? It has always been my experience that the answer is a resounding “no”.

Income and Career

If Your Résumé Makes You Sound Old, You’re Screwed

March 8, 2019 March 8, 2019

Reality check, please. In case you didn’t already know it, whatever job you currently hold right now is very likely going to be one of many you will work at in your career. It’s just a fact these days that you are not going to be anything like your dad or grandfather might have been and work for the same company for 40 years, eventually retiring with a gold watch and a pension. It “ain’t gonna happen” and that’s why résumés for older workers are so very important.

There are a lot of hidden minefields in resumes for older workers. Here are some ways your resume may be opening you to age discrimination.

Because today we live in a much more uncertain world, one where the job market changes—sometimes overnight—job security is a thing of the past. And that often doesn’t matter even if you are really good at what you do!

Credit

Credit Scores You Need for the Things You Want

March 5, 2019 March 4, 2019

Do you know what your credit score is? Most of the time, we don’t really talk to each other about our credit scores. Some don’t know what it is and some don’t want to know. There are excuses people make for not knowing their score, but frankly there really isn’t a good reason for that.

We all know that good credit is important, but do you know what credit scores you need to get the things you want? Here's what you need to know.

We do know that good credit scores matter and that the real importance of having good credit and a good score doesn’t come up until the day you really need that really important “something” and that’s when you wonder if your score is good enough to get you what you want. That will be the day you find out and then it’s way too late to do much worrying about it!

Retirement, Saving & Investing, Taxes

ESPP Exit: What’s Your Financial Advice for Us?

February 26, 2019 March 25, 2019

I can’t help but realize that writing this blog each week almost always involves me giving some advice about some money issue. Sometimes it has been very specific on things like saving money at the grocery store or preparing yourself for retirement and at other times it’s been more spiritual like when I refer to things that can motivate you and good money habits to develop that help protect your financial well-being.

My wife and I need to make a decision about what to do with her old ESPP (Employee Stock Purchase Plan) shares. What's your financial advice for us?

Sometimes when I look back on what I’ve written, I realize I definitely have had a tendency to pontificate and yes, even ramble. I’m being kind to myself more than a little here. I really think writing a 2,000+ word post can lose even the most diehard readers. Who has the time for that much stuff to read on a regular basis?

Retirement, Saving & Investing

Why is Planning for Retirement So Damned Confusing?

February 22, 2019 February 21, 2019

Retirement planning is no easy task. Oh, you may think it is, but it never really is, at least it isn’t for most people. Maybe if you are lucky enough to hit the Powerball jackpot and win a few hundred mil, you may be able to just coast into a retirement and never have to worry, but seriously? I hope you aren’t actually trying to do that. If you are, your retirement plan sucks!

Planning for retirement isn't always easy, but it can be much smoother if you start early and avoid these mistakes. Here's what to do and what not to do.

There are a lot of things that go into your retirement planning. Obviously, factors like salary, debt, and expenses all will affect your ability to save, but also know this: there is no one-size-fits-all solution to planning and realizing the vision of your successful golden years!

Personal Finance

Money Issues Make You Feel Angry and Helpless

February 19, 2019 February 18, 2019

Money is a good thing to have. At least that is the huge consensus opinion of most of us. That’s the way we look at it and why we work for it, even if we are like Mother Teresa who gave most of it away.

Wealth inequality and money issues can cause some dark feelings. Read on to understand how those issues came to be, so you can try to solve them.

We need money so we can help ourselves, or at the very least use it to help others. Having money is necessary and seems to be the difference between merely existing and having a life that is way more than that, a life that is building something. So, let’s just say that money is really a good thing and that’s a given despite the old proverb about the love of it being the root of all evil. Having real money issues will make you feel very helpless.

Health, Personal Finance

Why You Are Just One Step From Financial Disaster!

February 15, 2019 February 14, 2019

Being retired gives me the time to read more than I ever did when I was working every day. Sometimes being busy with a job can be a cushion from discovering some really worrisome facts that you may just hear about, but not really see the fine details. That may be the situation you are in when it comes to thinking about healthcare costs for you and your family. Healthcare costs are a reality that just might be the reason why you are just one step from financial disaster!

Many people don't realize that they are just a step from financial disaster. Healthcare costs from an illness or injury can easily push you into bankruptcy.

The Big Fear

It’s a fear that we all have, the fear that we may have to face financial ruin someday. We may not know exactly how or why, but it is something we sometimes do think about. Most often it comes when you lose your job or if you are really unlucky you might have to face some sort of natural disaster like a flood, fire, or weather event that sets you so far into debt you can’t see ever climbing out of that hole. But the number one thing that can send you into financial hell is much more devastating and personal then suffering through a hurricane.