Personal Finance

How November Serves as a Financial Touchstone

Usually, I am ahead of the curve whenever I write something for the blog. I try my best to plan out what I write although sometimes a thought just sails through my mind and that’s what happened today at about 5:17 AM. I realized that it’s now November and that makes it the most significant “financial” month of the year and it needs to be recognized as such! It serves as a touchstone in that when it comes to financial planning, you can see whether you’re meeting your 2020 goals as well as start planning for 2021.

It's now November, a month which serves as a touchstone for financial planning. Will you make 2020's goals? Have you started planning 2021?

Ten months down and just two to go before we put 2020 behind us or even in the trash can since it may go down as your worst year so far when it comes to your personal finances. That designation applies unless you lived through the 1929 Great Depression. Oh and congratulations on your 90th birthday if you did.

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Debt

Killer Debt and Its Effect on Your Dreams

Everyone wants to feel like they have accomplished at least some of the things they have dreamed about over their lifetimes. You can call it our goals, our wants, our desires, or even the big one: the American Dream. So what are the reasons we often struggle or fail in that pursuit?

Is debt killing your dreams? It is keeping you from the American Dream? If so, it's time to take control of your finances.

It’s not any secret when you think about it. The American Dream is most often killed by debt. The American Dream has been the gold standard for life here in the U.S. for a really long time. It is probably the number one motivator we all have even though we don’t think about it that way. It is the reason why we want a good paying job and the reason why we want more and spend more on ourselves and our families. Whether it’s a new car, a vacation, or the big one—a great home and backyard—it is why we get up and go to work every day. And that’s the rub; we want so much that we are willing to let debt kill our American Dream!

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Personal Finance, Saving & Investing

Can You Election-Proof Your Finances?

No matter who wins the presidential election this year, or in future years, the outlook for continued growth and innovation long term remains a positive. There’s no reason to believe that even in a pandemic world that we have today that progress and innovation are simply just going to stop because one candidate or another is elected and 2020 isn’t going to start a new trend in that regard. Financial growth is going to happen for some (or even many) and you want to be in that number when it does. The question is: how? How can you election-proof your finances?

If you want to election-proof your finances, you need to look at history to be your guide. From there, we can make some general observations.

Election-Proof Your Finances?

There is often widespread uncertainty before a presidential election, and that extends to worrying about your finances. To election-proof your finances is to ensure that you will be improving your monetary situation no matter who wins. Now I don’t know your particular situation, and I’m not providing advice, but I can make some general observations as to how it can be achieved.

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Health

What You Need to Do to Fight Outrageous Medical Bills

As you might know, my wife and I have had serious medical problems for years and years. Over the last ten years, our medical costs have exceeded 30% of our gross income. That’s about four times what the average person has to deal with based on numbers from 2017. So we’ve seen our share of outrageous medical bills.

Outrageous medical bills are all too common. Here's what you need to do in order to fight for your rights so they don't take advantage of you.

Unfortunately, it’s something we have to live with and it is one of the main reasons why we are so careful when it comes to saving money. You see, without being so aware of how to save, we would have even more difficulty managing to get through life and the cost of medical care would simply overwhelm us. We aren’t alone and I am not going to whine about it here anymore that I have to do it in order to make my important point:

There are things you can do to fight your outrageous medical bills.

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Budgeting, Shopping

Plan Right Now to Save Your Holiday Finances

It’s become so common for people to rack up huge amounts of debt during the holiday season, especially when they whip out the old credit card and throw caution to the wind! Between travel, parties, gifts, and décor, the amount you spend in December alone could result in an uncomfortably large credit card balance. Holiday finances can be tough to deal with.

It's not too late to plan your holiday finances. But the holidays are coming right around the corner, so now is the time to get organized.

You probably have fallen victim to it just as most of us have including me too as an impetuous youth. I lived to regret it and fortunately I learned my lesson and never did it again. So I ask this question of you now: Are you ready to plan right now to save your holiday finances?

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Retirement

Retirement Investment Strategies That 20 Somethings Need Now

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I seem to write about retirement a lot these days and frankly I’d say it’s because I am one of them…the retired, that is. From my perspective, it’s pretty easy to see a path leading way back to my youth that is a good one to get safely here. But the problem seems to be always the same, most 20 somethings—and for that matter 30, 40, and even 50 somethings—just never do the work to get where they want and need to be: ready for retirement. That’s why we need to talk about investing for 20 somethings, even if retirement feels like it’s eons away.

There's no better time to start planning for retirement than the beginning of your career. Here are some tips for investing for 20 somethings.

I say it all the time and it is so true: start saving for your retirement as soon as you latch on to your very first job! That means that you should start saving early. Make regular contributions to your employer-sponsored 401(k) plan, and even get their big generous company match.

Given that most Americans feel they need to catch up on their retirement savings, this will keep you ahead of the game. But is there anything else you can do to secure your financial future? The simple answer is yes!

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Debt, Home

Is Mortgage Refinancing Now Really a No-Brainer?

Congratulations to me! (…and Mrs. Super Saving Tips, too). After seeing and hearing a year’s worth of promotions about mortgage refinancing and the all-time low interest rates, we finally took the plunge.

Mortgage refinancing rates are at near all-time lows, but is it the right time for you to refinance? Here's what you need to consider.

When homeowners are bombarded with news about “record low rates”, they often have one thought on their mind: “Is this the time to refinance?” I guess that I have asked myself that question many times over my lifetime and each time I wavier and hesitate until it becomes really crystal clear to me. This time is one of those times! Right now, I have to say that refinancing for almost everyone is on paper at least, really a no-brainer!

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Personal Finance

Financially “Dumb and Dumber”: 12 Financial Mistakes to Avoid

Even “smart” people can sometimes have financial habits that zap their financial plans and can leave them with an empty wallet. That’s why you need to know what financial mistakes might be costing you extra money today, tomorrow, and, well, every day when you stop paying careful attention to it.

Are you making dumb financial mistakes? Here's just twelve examples that are completely fixable with a little thought and discipline.

Being financially careless is dumb and knowing you are and continuing along that road is even dumber! Do as the old saying goes and “Just say no!”, but this time say no to dumb financial behavior.

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