There are so many scams prevalent today, it’s difficult to keep up. From the innocent looking phishing e-mails to the brazen IRS impostors with their threats, the long list begins. All of them have one goal, and that is to trick you into giving them your personal information. Scams against the elderly are growing each year.
Many of the scams are directed at senior adults in one way or another. Downloading malware after clicking on an unknown link is one that many of the elderly fall prey to.
The main reason scammers target the elderly is a trust issue. Older adults will generally answer telephone calls from anyone and often pay a high price for that trait. Instead of tossing junk mail in the trash where it belongs, they open it and read View full post…
Three Simple Principles That Will Help You Save Money for Retirement
If you’ve been thinking about your retirement, you might have this question on your mind – ‘How do I save money for retirement?’ You’ll often come across flashy advertisements and click-bait articles on the Internet that promise to teach you how you can save a million dollars in 6 steps.
But many of these self-proclaimed financial gurus are simply out for their own profit. Very often, they’re selling products, books, or subscription services that you don’t really need, claiming that they contain valuable insights when that’s not really the case. As a result, it’s very easy to become cynical and distrustful about online financial planning resources in general.
Prior to 2014, with the exception of a Special Needs Trust, there were very few financial vehicles available to provide care for individuals living with a disability. For almost a decade, various advocacy groups for the disabled began to lobby Congress, and then in 2014, an act was passed.
This new law was known as Achieving a Better Life Experience, or ABLE as it is most commonly referred to today. In its simplest form, an ABLE account permits creating tax advantaged accounts for individuals with disabilities to be able to save money. The new law allowed View full post…
How Much To Save for Retirement – What’s Your Magic Number?
This question has been asked so many times and there is no one simple answer. Well maybe there is if you say “as much as you can”. How much to save for retirement has so many variables it will make your head spin.
You can read opinions from many financial planners citing actuarial tables and formulas, but the bottom line is start saving for retirement as early as you can and save as much as you can.
According to statistics and studies made, Americans aren’t the best at socking away money for their retirement years. They go on to say that in excess of 80% of us have no idea on how much to save for retirement.
The title of this article says it all and is really the bottom line you need to strive for. Your goal is to find any unnecessary spending and cut back. We all have daily expenses that can be trimmed and added to our retirement savings which should be one of our top priorities.
One of the reasons that the “B” word or budget is so terrifying is that it’s associated with sacrifice. This simply isn’t true…a budget is, and should be, a matter of choice.
Two primary choices to begin with – do you want to live it up today and not care about tomorrow? Or do you want to exercise good judgment and cut back a little today so that you will have a more comfortable retirement? I’d like to have both, but I’m not aware of any wealthy relatives that would sponsor me.
Here’s an eye opening statistic for you – Prior to the creation of the Social Security System in the 1930’s, approximately 75% of senior citizens in America were living in poverty. This figure has been dramatically reduced today to just below 10%, thanks to employee pensions, Social Security and also retirement savings accounts.
But still, here in America today, many senior citizens with income levels just above the poverty level continue to have financial struggles well into their retirement.
Just as alarming are the results of a study that was done by Brandeis University. This revealed that 75% of senior citizen households in America are in a precarious position economically.
Retiring at an early age is possible again, but the rules have changed somewhat. Have you figured out how to retire early, perhaps at age 55 or earlier? Quite a few Americans have.
More importantly, can you afford to leave the 9 to 5 routine when you want to? As you mull that question in your mind, you realize that some changes in your lifestyle, such as home downsizing may be required. However, the solution on how to retire early might not be difficult at all.
There are certain professions where it pays to have insider information. The truth is that professional financial advisors put saving for retirement as a top priority.
Financial professionals have witnessed over and over the effects of not having ample security in the golden years. Retirees often find they do not have enough money saved or enough emergency savings account money saved to allow them to live the way they have always dreamed.
How to Save For Retirement – 3 Common Sense Principles to Guide You
How to save for retirement? This question has been asked by everyone planning for retirement, and has become the “million dollar question” without a doubt. We’ve all seen the flashy ads that say “I’ll show you my 5 steps to retire with a million bucks in the bank”. Many of these ads go on to say that you don’t have to be a banker on Wall Street to accomplish this, and that many middle class Americans do it every day.
7 Little-Known Factors That Will Affect Your Ways To Save Money
We look for ways to save money, but one of the reasons why so many Americans fail in their dreams to attain wealth, is how to manage money. They have a desire to be financially secure, and to be able to retire in comfort. However, many of them make one or more of the following big money mistakes, and their dreams are shattered.
The first place to look for ways to save money is at the terms of your mortgage. Countless Americans have no conception of what happens when they amortize their home purchase over a thirty (30) year period. When you stretch your payment out that long, you actually pay to the lender, two and a half times the original purchase price of your home.
Our firm provides the information in this website for general guidance only, and it does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with a competent professional tax, accounting, legal, or other professional advisers. For information on how to use this data, you are advised to read our Legal Disclaimer page and our Circular 230 page.
All original content on these pages is fingerprinted and certified by Digiprove
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.