Recently I’ve seen several articles and videos discussing financial mistakes that retirees regret making. Us younger folks can glean a lot of wisdom from our elders, including important financial lessons about saving and retirement. Many seniors say they wish they’d built up a bigger nest egg and invested in assets that provide a steady income stream. Here are 4 financial mistakes retirees regret making so
How much money do you need to retire? It’s a popular and hotly debated personal finance topic. Before the pandemic started and inflation ballooned the cost of housing, gas, groceries, and other necessities, a million dollar portfolio was seen as enough. But now some experts are saying millennials may need $3 million worth of assets to have a comfortable retirement in the future. I don’t
Almost 70% of people turning 65 will need long-term care within their lifetime. So if you’re approaching retirement age, it’s wise to prepare for nursing home costs. A private room in a nursing home will run you nearly $300 per day. That kind of expense can eat through your savings quickly if you don’t have a plan for shielding your assets. Here are some tips
If you’ve ever read “Rich Dad, Poor Dad,” then you’ve learned some powerful wealth-building theories published by Robert T. Kiyosaki. What you may not know is that he published a second book that is changing the way we view wealth called “Rich Dad’s Cashflow Quadrant.” If you haven’t had much experience with these theories, then this article is going to tell you how the Rich
There are a few ways that you can protect your retirement so that you have enough cash to live the life you want after you’ve finished working. And one of those methods that people use is laddering. Laddering is a financial method that, in some cases, and if done properly, can help you mitigate risk and help you make smaller investment decisions instead of investing
Managing your personal finances is about more than just paying your monthly bills, there are short and long-term savings goals and health expenditures. That’s where a healthcare savings account or an “HSA” comes into play. What is an HSA? An HSA is just like any other savings account but the funds saved in it can only be used for healthcare expenditures. The medical and dental
Anyone who loves to shop should consider timing their purchases to coincide with sales tax holidays; while only 16 states offer them, some shopping aficionados travel to take advantage of these tax-free windows. Jackie CohenJackie Cohen is an award winning financial journalist turned turned financial advisor obsessed with climate change risk, data and business. Jackie holds a B.A. Degree from Macalester College and an M.A.
Do you believe there is a difference between rich and wealthy? Have you ever considered it before? We’re going to spend two quick minutes in this article doing just that. Exploring the Difference Between Rich and Wealthy What is “Rich?” What is “Wealthy?” Time to jump back into grade school for a moment. Sometimes the best way to explore a topic is to lay a groundwork.
If you’re nearing retirement age, or simply planning in advance, you may be asking yourself how much you’ll need. We’re going to target one specific question in today’s article: “Can I live off interest on a million dollars?” Scenarios like this have many variables, so let’s start by asking some questions. Retirement Planning – Can I Live Off Interest On a Million Dollars? Some financial
I recently spoke with a good friend who announced she was going to pursue her long-time dream of writing. I was so happy for her. She then said she was going back to school. Much like me, my friend is a young mother and wife with a heart full of ideas and budget that doesn’t always make them possible. That’s why I want to talk
