It's National Save for Retirement Week!
I know we have weeks dedicated to so many different things. Did you know we have a donut week? So we should have a Save for Retirement week!
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I know we have weeks dedicated to so many different things. Did you know we have a donut week? So we should have a Save for Retirement week!
Being a Snowbird could be a great lifestyle in retirement but one place will need to be your legal residence and it's the laws of that state which will dictate your estate planning.
If you have retired early and to save money you got the least expensive HMO you could find it might not cover routine procedures if you are out of state.
If you think you might like the RV life style do some homework before you make a down payment on an RV.
"Let's go someplace warm this winter" is heard in many conversations. You want some place warm to avoid the winter cold and snow.
When it's snowing and blowing with temperatures hovering around 30 degrees in New England the snowbirds want to be somewhere where it's sunny and a pleasant 75 degrees.
You've worked very hard to achieve your goals and accumulate assets. Now you need to protect them!
Life is full of obstacles! A stock market downturn, a job loss, illness, a disability, divorce, a boomerang kid, even elderly parents needing financial help.
Knowing when you want to reach your goals is your time horizon and that should dictate what you invest in and how much risk you take.
A net worth is a snap shot of where you are financially at a given moment in time. It is a list of your assets and your liabilities.
The financial choices in our lives are overwhelming. It's become a lot more complicated and involves a lot more planning than it used to.
This rarely happens, but retirement planning should start with your first job.
Social Security is synonymous with retirement income, but it is much more.
The retirement income gap is currently 44 cents for women for every $1 that men will collect and it's been well reported that more women than men will encounter financial hardship during retirement.
Although better educated than their mothers and grandmothers, today's women are still not earning as much as men.
For many women their biggest fear is that they will be penniless and homeless in their old age and unable to afford food, shelter, and medical care.
Even if you leave everything in your will or trust to your spouse or children, if your mother is still named on the retirement plan or life insurance she will receive the proceeds.
According to the Employee Benefit Research Institute's latest study on borrowing, more than 20% of participants have outstanding loans from their retirement plans.
You may think your credit report is perfect because you have never been late or missed any of your loan payments, but recent studies have shown that perhaps as many as 50% of all credit reports have errors in them.
We all do some really dumb things when it comes to our money, but sometimes it's not what we do...it's what we don't do.
Almost 50% of Massachusetts residents have an emergency fund that will last them 3 months according to a study done by FINRA's Investor Education Foundation.
Most investors don't even realize they are in the wrong type of investment until it's too late.
Ask any 65-year-old what they would have done differently and 90% will tell you that they should have started saving sooner!
I know the temptation is there, but using your home as collateral puts you at risk of losing your home!
I don't know anyone who doesn't have at least one money regret.
