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Retirement and Investing Tips

Tips for investments and a comfortable retirement.

7 Ways to Psych Yourself Rich

Posted In:  debt reduction  retirement

Whether your goal is to pay down your credit card debt, save for retirement, or simply scrape together enough cash for a night on the town, saving money takes discipline and hard work. Some people feel so overwhelmed by the prospect of creating a financial plan and saving money that, instead of taking action, they freeze. People who allow fear to freeze them into financial passivity rarely achieve their monetary goals. Here are seven simple steps you can take to conquer your financial fears and start saving today.Read the rest...

Laid Off? What to do About Your 401k

Posted In:  retirement

As the economy continues to founder, many companies are attempting to stay afloat through downsizing. Unfortunately, while this might benefit the companies in question, it undoubtedly has a negative effect on the employees who are suddenly out of work. There are many dilemmas facing someone who is newly unemployed, and one of these questions is what to do with the employer-offered 401k now that the job is gone. Read on for tips about handling your 401k after a sudden job loss.Read the rest...

You Don’t Have to be Rich to Get Rich – Building Wealth from the Ground Up

Posted In:  retirement

Don’t blame your paycheck for your lack of savings. If you really want to build wealth, you can, even if you feel like the money is all spent as soon as you get the check. Look at Herb and Dorothy Vogel, an unassuming New York couple that, despite a modest income, acquired 4,000 works of art in 45 years. The couple lived on the wife’s salary and devoted the husband’s pay towards collecting. The collection was worth millions when they finally decided to donate it to National Gallery of Art. If a couple can live that long in New York City on just one income and become wealthy, you can do it too.Read the rest...

Senior Reverse Mortgage Crisis on the Horizon

Posted In:  retirement  mortgage

Many seniors have found that the economic downturn has left them in a hard spot. To make ends meet, many seniors have turned to reverse mortgages as a secondary source of income. Now that their homes are no longer as valuable as when these loans were written, many are facing the possibility of foreclosure.Read the rest...

Five Ways to Beat Inflation

Posted In:  banking  retirement

Saving money is not just about setting cash side. If you just put your money in a mattress, eventually that money will become worth less. How can that be? The answer is inflation. Inflation, simply put, is the tendency of prices to rise over time. When prices rise, the money you have becomes insufficient to buy a specific amount of goods. For instance, if $100 buys you 100 beans today, but the same 100 beans cost of $105 tomorrow, then inflation has made your money is worth less than it was. Unless you can find a way to make that $100 grow into $105, you are losing money. That’s why it is vital that the money you save earns at least enough to keep up with the case of inflation.Read the rest...

7 Financial Rules for the Post-Recession Economy

Posted In:  banking  credit cards  retirement  mortgage

Yes, you read it right. The recession is over. Sales have been up 6 months in a row, the wheels are starting to turn again and we may have already passed the peak of home foreclosures. However, the effects of this recession are not over. The traditional advice your mom gave you might now be valid in this shaky financial environment. Here are some new rules to follow as we rebuild. Read the rest...

Do You Need Financial Advice or a Financial Plan? The New Thinking in Personal Finance.

Posted In:  retirement  banking

Students who are working toward careers in financial planning face a very different market than their predecessors. With the rising number of baby boomers headed toward retirement age over the next decade, financial planners are in high demand. This unique generation is redefining what it means to get financial advice the same way they are redefining health care and social services.Read the rest...

Should You Convert Your Roth Now? If Only It Was that Simple

Posted In:  retirement  taxes

Most high income Americans have an IRA, Individual Retirement Account, of some kind. The majority of those with IRAs have traditional IRAs in the form of a certificate of deposit, mutual fund, or 401(k). A traditional IRA defers income tax payments until the money is withdrawn years later by whoever holds the account. It could be the original investor, a relative, or even a family friend. Regardless of who ends up cashing in the IRA, he or she will have to pay income taxes the moment the money is withdrawn.Read the rest...

How Reverse Mortgages are changing in the Tight Economy

Posted In:  retirement  mortgage

For many people the idea of reverse mortgages are riddled with false beliefs and misconceptions. In today’s economy, the dreadful thought of any kind of mortgage has all but the most desperate running for the hills. Yet for many elderly citizens reverse mortgages can be a blessing in disguise due to our current economic state.Read the rest...

Five Financial Problems Women Face and How to Manage Them

Posted In:  retirement  banking  mortgage

Financial planning can be a challenging task for anyone, but women find they face issues particular to their gender. Although, both men and women work in this generation, gender-unique financial issues are apparent. Women are challenged because they make less money than men do over a lifetime, which makes money management more difficult. However, women must confront the financial challenges and find ways to overcome them.Read the rest...