If you’ve already made it through your 30’s and 40’s, you’re in a special place as you enter your 50’s these days. It’s different then your parents’ and grandparents’ days. If you’re a typical 50-something, you are at a great place and time in your career. 50’s are the new 40’s and you’re still young, vital, and involved as much or more than you ever were even as a 20, 30 or 40-something. Health consciousness has been ingrained in your mind, so much so by TV, you are probably in better shape than anyone who had ever been age 50 in world history!
On Friday I spent some time talking about your 30-something years and hopefully when you took action you got through those years building a good strong base and plan to tackle your financial future for the next decades. Moving on now, if you’ve made it to your 40-something years, the challenges may be different but they still require a focus and goals. So here’s my take on money tips for your 40’s.
Back in your school days you studied all about the Middle Ages. It was the period from the fall of the Roman Empire to the beginning of the European Renaissance, roughly from the 5th century through the 15th century AD. Well, as fascinating as that period was, it’s not the subject of today’s post. Today I’m writing about your middle ages. That’s the years when you’re in your 30’s, 40’s and 50’s. Those are the “middle” of your lifetime years when so much of what you are and will be is determined. From your career path to your relationships, family life and retirement planning, and everything in between. And so today’s post, part 1 of 3, will be about money tips for your 30’s.
Today, we know that life expectancy is longer than ever and you can think of it as divided into 3 stages. There’s stage #1, Coming of Age, which I call birth through your 20’s. Stage #3, I call the Retirement and the Golden Years of 60 and up. And today’s topic, the Middle Ages, Stage #2, ages 30-60. Each phase is different and yet somewhat similar in some ways. The key is timing in all cases, because what might be a plan in your 30’s may become a desperation move in your 50’s. Time is your friend when you are younger and not so much as you move through…the Middle Ages.Continue reading“The Middle Ages Part 1: Money Tips for Your 30’s”
The following blog post is part of The Road to Financial Wellness blog tour. The Road to Financial Wellness is a three-month, grassroots campaign promoting financial empowerment on a national level and encourages people to pursue their dream lifestyle. Find out more about local events near you.
This coming September will mark for me the 20 year anniversary of starting my journey to my financial empowerment. Sometimes, the best things that you will ever do are born out of times that are fundamentally the worst times, such as when you are hurting emotionally and financially and are desperate for control when tough roadblocks occur in your life. That’s what happened to me in September 1996.
Back then, my 25-year marriage had just ended, my divorce became final and I was at my low point in every part of my life from job to family and of course, my financial condition. After a divorce, the division of assets doesn’t leave two halves but rather a pretty big financial hole which means a lot less for everyone involved. You can do one of two things it seems. Either you can wallow in self-pity and think you’re destined to be in that mess forever or you can decide that you can do something about your problems and start to find ways that you can take control again of your financial well-being. It may not be simple and easy, but it can be done.Continue reading“Financial Empowerment – My Road to Financial Wellness”
Money makes the world go round. At least that’s what we seem to think. So when you go to work, the big reason is most likely to earn money. And you want to get as much money for your work as you can. Therefore it seems logical that you want to learn how to get a raise at work. But what if you are trying your best, and you just aren’t getting anywhere?
You feel like you work hard and you deserve that raise. After all, they gave Dave a big raise and a promotion and everyone knows he’s not half as smart as you. So why not you? What did he do that you didn’t do?. You did everything they asked you to do and you always do. You‘re a model of consistency, you show up every day on time and you never miss a day. What’s the heck is wrong with them? Can’t they see you need a raise?Continue reading“How NOT to Get a Raise at Work”
I know I sometimes make myself crazy thinking about money and how I might earn more and spend less. I don’t think I’m really any different from you though. If you’re a lot like me and everyone else who does pretty much the same thing, I want you to consider something. Are you already thinking about things like getting a new a job or a better job? Getting a raise in pay? Earning a bonus? Winning the lottery! Whether you are 18 or 80, money is a huge factor in our thoughts, dreams, and lives. But the real question to me is “how much do you really need?” Can lots of money really guarantee your happiness? Maybe you’ll be very happy and then again…maybe not.
If having lots of money makes you happy, then by all means you should go for it. Figure out all the new and best ways you can earn it and perhaps you will fulfill every dream you have ever have dreamed. Wouldn’t that be great! Having money is a way to fulfill your greatest desires for not only for a great life for you, but it can be blessing to help others who aren’t able to make do because of their own problems and misfortunes. You can help yourself and others and that’s very cool.Continue reading“How You Can Live Comfortably on $45/Day”
We all like to think that we have total control of our money, don’t we? We certainly know our salary if we get a weekly paycheck and we also know about those monthly dividend checks, part time side hustles and other alternative sources of income that we receive like tax refunds, rewards from our credit cards and gifts for birthdays. You may even feel you don’t need any advice or input on your finances and you’re doing just fine. But where does your money go?
The truth is that people, no matter how good they are at their finances and no matter how careful they think they are, do “slip up”. That slip up can be a once-a-month thing when an urge to spend might just be so strong and the want so intense that you can’t say “no” and give in to it. Or it can even be just a bad habit you’ve formed that occurs each week or even worse every day. It can be looking only short range and not thinking about the “big picture”. These “drips” a little bit at a time are like having a leak in your plumbing that’s so small you don’t notice it. But it’s there and it’s doing damage to your finances just like that leaky pipe can do to the walls, floors, and foundation of your home. Don’t think you have a leak? Let me ask you just a few questions then.Continue reading“You May Think That You’re Frugal…But Where Does Your Money Go?”
For almost 10 years I worked in banking and did everything you can do there. That included the role of teller, when I had to help out there, as well as “platform person” to open, close and manage our customers’ accounts. Then there was my primary customer interaction of selling all kinds of bank products and giving financial counseling that included advice on mutual funds, investments, retirement accounts, and loans like mortgages, personal, auto, and refinancing.
Being a Bank Branch Manager is a real eye opener in finding out just how little people know and understand about their finances. (click to tweet)Continue reading“Real Things People Do at the Bank That I’ll Never Understand!”