Tag Archives: retirement

Should You Be Saving or Investing Right Now?

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We had a bull run for over nine years. The start of the pandemic was a buying opportunity. If you had bought back in March 2020, you would be sitting on a gold mine just a year ago. As time passed, things began changing. With uncertainty in the market, oil problems, and the coronavirus lingering, we have seen things get bad. The housing market and inflation are at an all-time high, and interest rates are dismal. With all that being said, is it a time to be saving or investing right now? Follow along Read more [...]

What To Do When You Run Out of Retirement Money

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Most people work late into life, saving up for retirement along the way. Whether you retire early or late or at a typical age, you probably expect to stop working from that point on. However, it doesn't always work out that way. You might get bored and want to work. Or, unfortunately, you might run out of retirement money and need to work. What should you do if the latter scenario happens to you? First, Don't Panic Many of us were raised on a very traditional work model. You got a job as a teenager, Read more [...]

Taking Your 401(k) To The Next Level

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If you are saving money towards retirement, congratulations. You are one of the nearly 26% of Americans who are preparing for their latter years. There are many avenues for savings. Some people are merely using a savings account or high-yield savings account that generates little interest but remains stable. Others are utilizing retirement accounts like an IRA, 403b, or 401(k). I myself, am using a 401(k) to house my retirement funds. While many 401ks offer slim investment choices and possibly good Read more [...]

Putting Money in a Roth IRA Even Though I Have Debt

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In the past few years, I've worked hard to contribute the maximum amount allowed to my Roth IRA. I have done this in spite of the fact that I have debt to pay off. Am I making the right decision? It feels like it's the right choice for me. What Is a Roth IRA? In case you're not familiar with it, the Roth IRA is a retirement plan. I am self-employed. Therefore, I don't have a 401(k) through my work. As a result, I need to take responsibility for my own retirement planning. The Roth IRA is the Read more [...]

Do I Need A Budget?

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Every person and financial advisor I know, always recommends having a budget. A budget helps you keep track of your monthly finances. It helps you keep track of your debts and helps to establish and fund monetary goals for retirement. I think it’s a great plan for some people, but the question is, does everyone need a budget? Follow along to find out if it’s for you. https://www.youtube.com/watch?v=sVKQn2I4HDM Can’t manage your debt? Debt problems are the number one reason people need Read more [...]

Social Security Eligibility and Earnings

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Today, I was scrolling through Facebook. I saw a post that stood out to me. Someone from a financial group I am in posted about social security benefits. He alerted everyone in the group to check out their credits today. He said checking them could provide useful to anyone wanting to retire early and still have access to benefits later in life. I got curious and went to pull up my Social Security eligibility and earnings. https://www.youtube.com/watch?v=7_1v3fJ44Pg Social Security Site and Read more [...]

How to Check if You Can Afford to Retire

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You want to retire. After working for all of your adult life, you're ready to move on to something else. But can you afford to retire? There are so many different things to factor in. How can you know if it's really the right financial move to make? Ways to Check if You Can Afford to Retire There are so many different ways to plan for retirement. In fact, with all of the information available to consider, it's tough to know which is the right approach. However, there are a few simple, key ways Read more [...]