Are you in the final countdown to retirement? Congratulations! This can be an amazing time full of new opportunities. Put yourself in the best position possible for your next adventure with these seven retirement readiness tips.
According to collegeboard.org, the average yearly full-time student budget for tuition and fees, room and board, books, and other incidentals at an in-state public four-year college is currently more than $25,000. For a private four-year college, that costs skyrockets to more than $50,000.
Sometimes small moves can yield big results. If you want to plan for a better, more secure retirement, start by increasing your 401(k) contribution by just 1%. You might be thinking that 1% can’t possibly make that much of a difference — but you’d be wrong.
Regrets can be hard to live with: I wish I hadn’t eaten that banana split; I wish I’d bought that sweater when it was on sale; or I wish I learned to speak French. But these are all mild regrets compared to what you’d feel if you didn’t make the best choices for you and your family when preparing for retirement.
Loss aversion sounds like a good thing — trying to avoid losing. What could be wrong with that? Unfortunately, if taken too far, it can actually be a threat to your long-term financial health. Loss aversion is the tendency to prefer avoiding potential losses over acquiring equal gains. We dislike losing $20 more than we like getting $20.
When we think retirement age, 65 is often the first number that comes to mind. But that doesn’t mean it should be your final answer. While it’s often a starting point for consideration, there are several factors that could make another age a better choice for you. Here are eight considerations to keep in mind when making this very important decision.
Insurance may be less about if you’ll need it than when you’ll need it. Anyone who started driving at 16 is likely to have had a claim by the time they’re 34. More than 1 in 20 insured properties reported a claim in 2016, according to Insurance Services Office (ISO). And according to the U.S.
Your 401(k) is one of the most powerful retirement planning tools at your disposal. Are you taking full advantage of yours? Here are eight questions to help you answer this important question.
1. Am I enrolled?
Nearly 40 percent of millennials have no retirement savings, according to Personal Capital’s 2018 Retirement Readiness Survey. But millennials willing to take the long view can be reassured that time is on their side largely due to the remarkable power of compound interest.
No one likes to think about life insurance, or the conditions that could cause its need to arise. But it’s an important foundation for a family‘s financial plan — ensuring that critical needs are met in the worst of circumstances.
Do you want a car? Of course you do! A car allows you to go wherever you want and have fun doing it. But buying too much car — or the wrong car — can be a big budget buster you have to live with (and pay for) for years to come.
Needs and Wants
The average annual cost of attending a four-year public college in 2018-2019 was more than $20,000 (tuition, room and board). Private colleges were even pricier at close to $45,000.
Babysitting is many teens’ very first job. Taking care of some kids is challenging, but the work can be flexible and rewarding. You can babysit to make money once in a while, or you can approach it more like a business by building a list of clients, gaining in-demand skills and earning a good rep in your neighborhood.
Get Your Resume Ready
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