We all have a view of what retirement will look like: long days of fishing or golfing, relaxing on the front porch, enjoying grandchildren, spending time with friends.
Unfortunately, simply being retired does not mean that problems suddenly disappear — least of all money problems. No matter how well you have planned and saved, you could get blind-sided by an unexpected retirement cost. The solution? Leave room in your portfolio for one of these five common retirement pitfalls:
1. A Not-So-Empty Nest. While the economy is certainly recovering, the downturn and resulting high unemployment did make it clear that adult children sometimes have to come home for a while to get back on their feet. For retired parents who are opening their doors to laid-off, unemployed, or otherwise down-and-out grown children, it’s important to make sure that you set clear boundaries regarding the amount of help you can offer. Otherwise, you might find that you’ve got too much retirement left when your money runs out.
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One of the best ways to tighten your budget is to cut back on the amount of money you spend on take-out and restaurant food. Besides, not only is eating at home cheaper, it’s most often healthier, too. Here are nine ideas to help you avoid the fast food temptation.
1. Grab and eat foods rule. One of the reasons we love fast food is because it’s fast. In just a few minutes, we’re chowing on hot, tasty foods that satisfy our need for immediate gratification. Healthy foods to keep on hand are trail mix, fresh fruits and veggies (precut for easier consumption), granola bars (yes, you can make your own at home), pudding or Jello, pretzels, cottage cheese, salads, and sweet treats like miniature candy bars or Hershey’s kisses. Packaging foods in baggies makes it easy to take snacks with you when you leave the house, too.
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My fiancé and I recently registered at Target for our wedding. We went in without much thought, playing most decisions by ear. We realized we were ill-prepared fairly quickly when we began looking for color schemes and items for rooms we wouldn’t have for a few years. What colors do we want in a guest bedroom? What items will we need for our kitchen? These are some things we had to use our imagination for. All in all we learned a lot about registries and about how we will mold and adapt our choices moving forward. Let me share that knowledge with you:
Where to Register?
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One of the things I love about summer is the barbecue. I think it’s fund to gather together friends and family, and then have a barbecue. However, if you do a lot of outdoor entertaining, it can start to get expensive. If you are looking for ways to save a little money on the barbecue this summer, here are some tips:
1. Bring Your Own
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Summer is shining bright in the sky, and you’re ready to hit the road with all your awesome plans. But if you’re like most people, you’re probably worried that you’ll have to sacrifice fun to meet the bottom line of your budget.
Truth is, you can save big, and still see all the sites you want to see, and do the things you want to do – without much sacrifice.
But only if you’re smart, and willing to plan. Here are a few suggestions you can use immediately.
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Anyone who has had to take over care of a declining family member knows that helping someone who is unable to perform basic daily activities can be both exhausting and expensive. According to the website medicare.gov, “this year, about nine million men and women over the age of 65 will need long-term care. By 2020, 12 million older Americans will need long-term care.”
Medicare.gov goes on to point out that the majority of these older Americans will be cared for by family members, but many individuals are concerned about the strain that would put on their families. One alternative available for those worried about burdening their families is Long Term Care Insurance (LTC). While there are many benefits to purchasing an LTC policy, there are also several pitfalls to be careful of. Here is what you need to know about Long Term Care Insurance:
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