5 Money Mistakes for Women to Avoid

We all make money mistakes in our lives. I have, and what I try to do is to never make the same mistake twice. Being a man and working continuously for well over 40 years, I’ve had the chance to recoup my losses and make up for some of the money errors that might have cost me dearly now that I’m in retirement. But women, especially those who are married and are looking to raise a family, may not be so fortunate to recover from some of the same mistakes that men make for some very good reasons.

5 Money Mistakes for Women to Avoid

 

So in honor of Women’s Money Week, I’m going to look at some difficult situations and highlight the potential pitfalls that a woman may stumble over if she doesn’t deal with them early on. Time, which is often your friend when it comes to finance, can be your very best buddy if you take action sooner rather than later. Here’s what I’m talking about.Continue reading“5 Money Mistakes for Women to Avoid”

How Will the Presidential Election Affect Your Financial Future?

You can’t get through a day right now without hearing something about the presidential election and the Democratic and Republican campaigning that is going on. Between the news, talk shows, debate stages, and the constant updating and interviewing of the huge number of candidates wanting your vote, it’s just inescapable isn’t it?

How Will the Presidential Election Affect Your Financial Future?

How much attention do you pay to it all? Have you taken a look at what each candidate says and stands for? That may have a huge impact on your life, money, and your financial future. Here are some of the big issues that are being talked about that you should consider and may very well influence your choice when you vote in your state primary/caucus and of course next November when you have the chance to vote for President.Continue reading“How Will the Presidential Election Affect Your Financial Future?”

Avoid These 8 Costly Retirement Planning Mistakes

There are lots of mistakes we might make throughout our lifetimes that can cost us and our family some serious money. That’s why financial advisors and other experts are always talking about what you should do to make sure you are positioned to maximize your earnings and avoid the mistakes that will derail your retirement. The Retirement Confidence Survey by the Employee Benefit Research Institute in 2015 points out that only 22% of all American workers feel very confident that they are properly prepared for retirement. It’s important to understand how our financial planning strategies are helping or harming our ability to maximize our retirement savings.

Avoid These 8 Costly Retirement Planning Mistakes

Today, we’ll look at the 8 most common retirement planning mistakes we need to understand and attend to. Have you looked at all of these and put yourself on solid ground towards your goals and successful retirement?Continue reading“Avoid These 8 Costly Retirement Planning Mistakes”

10 Year End Tax Planning Moves to Save Money

It’s that time again to examine the moves you need to make to increase your net income and save on your tax bill for 2015 and beyond. It’s really important to start now and review all the opportunities that can save you money, since in most cases (for personal taxes, not business), December 31st is the deadline for adjustments. Doing your year end tax planning now means you can claim these benefits when you file your return by April 15th. If you itemize your deductions, many of these actions should look familiar, so let’s begin!

10 Year End Tax Planning Moves to Save Money
Continue reading“10 Year End Tax Planning Moves to Save Money”

No Social Security COLA Increase in 2016

As a retiree myself, the recent news regarding Social Security benefits has me worried and troubled. Not only for me, but for the millions of people who are struggling to maintain an acceptable standard of living while relying on these benefits. I write about retirement planning here on this blog, and when things like omitting the cost of living adjustment occur, it’s an emphatic reminder that we all must plan appropriately for our golden years if we want to be able to enjoy them.

No Social Security COLA Increase in 2016

Beneficiaries will not get a cost of living adjustment (COLA) in January 2016, the Social Security Administration (SSA) announced this past Thursday. For seniors and others receiving benefits, this can make managing finances a more difficult experience. Continue reading“No Social Security COLA Increase in 2016”

Book Review: “Choose Your Retirement: Find the Right Path to Your New Adventure”

Retirement planning is a task that often confuses, frightens, and intimidates us. When we think of what will and might occur after our employment years end, we wonder how we will manage and what kind of lifestyle we will be able to afford and maintain. We wonder what our health will be like when we retire, and how that will affect what we can do. We fear that it’s already too late and we’ve missed the opportunity to invest our savings to give us enough post-retirement funding.

Choose Your Retirement: Find the Right Path to Your New Adventure

Facing how our lifestyles are bound to change, we wonder if we have prepared ourselves for it. The questions asked and options supplied in Choose Your Retirement: Find the Right Path to Your New Adventure will help you plan what kind of retirement you want as well as figure out how to afford those plans.Continue reading“Book Review: “Choose Your Retirement: Find the Right Path to Your New Adventure””

How History Can Lead You to Financial Independence

Fifty years ago, in 1965, I was just 16 years old. Ah yes, the 1960’s! It’s remembered for quite a few things, isn’t it? Baby boomers were just first coming of age back then, but of course there were also things like the Beatles and the British musical invasion, Motown, man landing on the moon, the assassination of JFK, the Vietnam War and of course, who will ever forget Woodstock!

How History Can Lead You To Financial Independence

They say “if you can remember the 60’s then you weren’t really there”, but I am here to tell you I was there and it was a wonderful yet tumultuous time in America. I thought, for this post, we should look back at that time and use it as information that can help us plan for the future. Sort of where we were, where we are, where we’re going, put in the context of financial independence. It’s not really that complicated. We can adjust for inflation and compare it all so that we can see how things have changed. Or have they really?Continue reading“How History Can Lead You to Financial Independence”

Every Day Is Sunday (or What Does Retirement Really Look Like?)

So many personal finance bloggers that I read each week write about the things you need to do to help you prepare for your retirement. I have done it myself. Those blog posts are very helpful in letting you know what you will need as income, how to estimate your after-retirement expenses, and talk a lot about how you can begin preparing really early in your career in order to maximize your own situation. In the case of younger retirees, the emphasis is usually on financial independence and “early retirement”. For many of us, however, retirement will come along in our later years, the 50’s, 60’s or even 70’s. At 66, I’ve been fully retired for a couple of years.

Every Day Is Sunday or What Does Retirement Really Look Like?

Rarely, however, do you hear from retirees on the realties of retirement: what do they actually do when they retire? and what did they do right and wrong to prepare for it? Since I am retired, and I’m also a blogger, I thought I’d tell you what I know and have learned as a retiree.Continue reading“Every Day Is Sunday (or What Does Retirement Really Look Like?)”