Are you on track with being able to retire when you want to? It’s so easy to procrastinate about saving and investing money for your retirement – especially if you’re still years away. While starting early makes it so much easier to meet your retirement goals, it never hurts to start based on where you are today. Saving steadily and starting now can make it possible for you to retire with greater comfort. Keep … Read More
Question: Our son is in his first semester of college and so far we have skirted the issue of getting him a credit card. Are we making a mistake by not letting him have his own card? Answer: Sending kids off to college isn’t easy. Even though you think it’s time for your child to experience life on their own, you know they’ll still depend on you for some financial support and one of … Read More
Here are my favorite articles and posts from around the web this week: Five Reasons Your Portfolio is Too Complicated from AmateurAssetAllocator.com When Frugality Does More Harm Than Good from CreditKarma.com Are You an Entrepreneur… or Just a Freelancer? from FreelanceSwitch.com SAFT ON WEALTH-Crystal balls vs bag lunches and FHFA is not on an REO speed wagon when it comes to full disclosure both from Reuters.com IRS Volunteers Have Trouble Preparing Taxes from AccountingToday.com Socially … Read More
Take control of your money. I am really sick of hearing that phrase. It seems to be overused marketing jargon in the financial services industry and from what I’m seeing it really means: take control of you money just long enough to give it to us and then we’ll take control from there. I hate to sound like I’m ranting, but that’s what happens when I get irritated. You see, I’ve been working with … Read More
The following are my favorite articles and posts this week from around the web: What to do when you receive a letter from the IRS from Financial Ducks In A Row.com Many Employers Clueless About 401(k) Fees, G.A.O. Finds from NYTimes.com ‘Safe’ investments that are actually risky from CNNMoney.com But I Don’t Want To! Secrets to Self-Motivation from Wisebread.com Check Social Security Benefits Online from The Suns Financial Diary.com Why Don’t People Talk … Read More
If you work for yourself, your income naturally depends on how much you charge. So how do you know if you’re allowing yourself to be fairly paid and when you should (and shouldn’t!) raise your rate? Here are some tips: When You Should Raise Your Rates 1. Your skills or service have improved. If the value you provide has increased, raising your rates to reflect that is reasonable. 2. Supply and demand have changed … Read More
So at first, you might think attitude has nothing to do with personal finance. Oh, to the contrary! Your attitude is one of the most important factors you have for success in all areas of life. A bad attitude gets you no where, while a good one can propel you far beyond your dreams. Now, maybe you feel you already have a success-mindset, but I think we can always benefit from strengthening and reviving … Read More
Question: Our son and daughter in-law have asked us for a loan. What should we do? Answer: It’s not uncommon, especially in difficult economic times, to have a family member or a friend ask to borrow money. While some people decide against the idea altogether, there may be circumstances where you feel it’s worth the risk. I’m going to give you a few points to keep in mind when trying to decide whether to … Read More
Question: What are your thoughts on giving kids an allowance? Answer: This is a tough one because what works for one family may not work for another. Personally, though, I believe allowances can be a great way to teach your kids how respect and manage money if you can implement the right allowance system or a combination approach. I’ll explain three basic allowance systems and how they work. Taking the time to learn wise … Read More
If you’re like most people, you probably dream of having a job that’s enjoyable and fulfilling. The solution maybe closer than you realize if you consider turning something you love to do into a way to pay the bills. You may be thinking, “There’s no way I can make money from my hobby.” But you might be surprised! Just think how great it would be if you could make money from the one thing … Read More