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Survey after survey indicates that Americans aren’t saving enough for retirement. While retirement is one of the biggest fears that Americans have, they aren’t confident in their ability to enjoy life.
A Wells Fargo survey recently indicated that 22% of middle class Americans would rather die early than be unable to have a comfortable retirement. This is very alarming information!
Americans say that saving for retirement is harder than expected, and many think that they will be able save later, to make up for a lack of savings now. However, this could backfire in the future as many Baby Boomers are finding out right now.
So, what can you do if you want to have a comfortable retirement without breaking the bank? Joshua Kadish from RPG Life Transition Specialists offers three interesting tips for helping your retirement budget stretch a little further.
I’m constantly asked to describe how I budget my money. When I talk about my budget, though, I refer to it as my “no budget” budget plan, or just a spending plan. This is because I don’t budget my money in what we often think of as the traditional way. I don’t have a list of categories, and I don’t start out my month by giving each dollar a job.
So how do I manage my money if I don’t practice traditional budgeting? Here is a quick peek at how I create a “no budget” spending plan.
Start by evaluating your situation. Recently, USAA released a tool called the Financial Readiness.
While you can’t use the tool if you aren’t a USAA member, you can still use the methodology of the tool to figure out your financial readiness by using the four categories used to determine your score in your own personal evaluation. [ continue reading… ]
I visited an antique shop with my cousin recently, as we sought inspiration for an apartment she will be moving into in a few months. I wasn’t planning on buying anything, but I saw a piano bench that looked perfect for our piano. My son had been complaining about our bench and the hinged top of this bench appealed to me, as the current bench didn’t have a place to store music.
On impulse, I bought the bench for $65. I don’t regret the purchase. It’s a nicer bench than what we had before, and now my son has a place to store his sheet music and lesson books instead of just tossing them on the floor.
For those with children, toy shopping is admittedly a large portion of your holiday spending. This time of year, retailers are especially eager to cash in on this category of sales and they will use the media to make sure you (and more importantly, your child) know what’s new and exciting.
There’s nothing wrong with buying new toys for your children every holiday season, but the problem is that, they will be either:
Become broken or outdated
Need new batteries or repairs
Discarded for something new
As parents, it’s hard to justify purchasing new toys when perfectly good ones are sitting at home in the toy box. But children don’t understand this kind of reasoning.
Hey, even adults don’t, sometimes. Are you buying the latest iPhone even though yours is perfectly fine? Are you saving for a new TV when your older one still functions? The good news is that there are ways to find new toys for your children without feeling like you’re wasting money (and toys).
When the leaves begin to change colors and the year draws to a close, people think about many things: the football season in full swing, apple picking, maybe even a thought or two about finding your rakes before the leaves start to fall all over your lawn. Fall is a great time to think about your finances, too. As the year begins its last act before drawing to a close, here are five things to do to get your finances in top shape for year’s end.
Assess Your Status
Summer’s end is a great time to take stock of your overall financial status. Look back on the goals you had for the year. Have you met them? You still have a little bit of time left, so don’t give up! And don’t just look at your short-term goals, either. Review your earnings, your long term financial requirements, and your overall level of financial peace. If nothing is adding up, then it might be time to think about making some serious life changes – new job, downsizing, selling assets – to make sure you are meeting all of your financial objectives. [ continue reading… ]
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