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Tag Archives: retirement

Baby Boomers, Gen X & Millennials: They All Have Their Money Problems

future

A new report confirms what we all fear to be true: Americans, no matter their age, are generally terrible at managing their money. In short, we all need to save more. A lot more. This insight comes from Financial Finesse, a think tank geared toward helping people reach financial independence and security, in its 2015 generational research study released today. Financial ... Read More »

    All Retirement Fears Boil Down to the Same Thing – Not Enough Money

    retirement

    A recent retirement poll cited too much debt as number four on its list of US fears and that even affluent populations are afraid of running out of money. Fort Lauderdale, FL (PRWEB) March 03, 2015 A recent poll from Bankrate.com focuses on Americans’retirement fears about medical bills and that affluent populations are afraid of running out of money. What ... Read More »

      Making Sure Loved Ones Are Prepared for Their Retirement Years

      retirement

      If a senior relative faces a sudden, debilitating illness or starts losing control of everyday finances, would you know where his or her retirement, estate and long-term care issues stand? If the answer is no, you’re not alone. In many families, it takes a crisis — a prolonged hospital stay or problems at home with neglected maintenance and bills or ... Read More »

        My Life is Hopeless. I Can’t Pay My Bills. What Can I Do?

        Avoid Bankruptcy Monster

        Question: I Can’t Pay My Bills. What Can I Do? Dear Steve, I’m so completely freaked out about my bills. I’m now so in debt and worried about it I can’t sleep, I’m depressed, and all my wife and I do is fight about money. I’m constantly telling my kids they can’t participate in any school events because I can’t ... Read More »

          How Much Money Do You Need to Have?

          2015-02-19-howmuchmoney-thumb

          We would all like to have enough money to do the important things: live life, retire comfortably, educate our children, and so on. More importantly, how do you make sure that you have enough to reach these various goals? Careful planning is essential, but you need to start from the bottom and work your way up to the big goals. ... Read More »

            How One Couple Merged Their Money Over 17 Years

            seavey2

            Bill and Eleanor Seavey started their marriage 17 years ago with a prenup. Neither can remember exactly when the agreement sunsetted, but clearly it has. They run a bed and breakfast together in Cambria, Calif., and it doesn’t make sense to them to have an account a spouse can’t access. “She has access to my money, and I have access to hers,” ... Read More »

              Baby Boomers and the Dilemma of Facing Retirement

              Ready to Collapse

              In 2006, the group of Americans known as baby boomers (1946-1964) turned 60 years old. Now almost a decade later, a number of them are either heading toward or have entered the retirement phase of their lives. The fact is that this is a transition that is not always as serene as many boomers envision such an experience will be. ... Read More »

                Reduce Your Spending and Save More. Now.

                Ready to Collapse

                Here’s some good news. Fidelity Investments recently reported that the number of 401(k) millionaires on their books has doubled over the past two years. Specifically, they went from 34,920 accounts with million-dollar balances to, as of the end of 2014, 72,379 accounts with seven-figure balances. That’s wonderful for those folks. The bad news is that those diligent savers are the ... Read More »

                  The Most Frightening Personal Finance Data You Will Ever Read

                  Cosplayers at San Diego Comic Con 2009

                  Forget about worry if a credit card or debit card is right for you. Or even if you should buy or lease your next car. Figures about people headed for retirement have my heart pounding in my chest. It’s the most frightening information you will read and hopefully it will help some people to get scared straight and fix this ... Read More »

                    I’m Retiring with Credit Card Debt I Cannot Afford. – Terri

                    retirement

                    “Dear Michael, I will retiring in 2015 and I only owe American express and I can’t pay them since my only source is social security and will be moving to Mexico. I understand they can’t get my social security. Do I still need to file with the courts on this debt? Terri” Dear Terri, Whether or not you have to ... Read More »

                      The Saddest Avoidable Mistake People Make When Getting Out of Debt

                      Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

                      It is painful for me to watch people make the same ignorant and stupid mistake time and time again when getting out of debt. And what is the number on mistake that screws up their financial future in an effort to repair their financial past? Keep reading to find out. People make all sorts of emotional decisions when faced with ... Read More »

                        My Store Lost Money and Left Me With Debt. I’m Retiring. – Dave

                        tunnel

                        “Dear Steve, Lost 1165.00 income from sale of store and I was the bank…total 54,000.00 I am retired and have 1500.00 SS and 500.00 company retirement. Problem is I ran up credit card dept trying to keep the store going and have paid off all bank loans except I have around 30,000.00 credit card debt. I am not late and ... Read More »

                          Should I Keep Investing in My IRA or Pay Off My Home?

                          retirement

                          “Dear Steve, Bought a home a year ago after finishing paying off students loans (am currently 27). I started contributing to a Roth about 6 months before I purchased the home and am now wondering if I should continue to max out the Roth or pay off the house faster? M” The Answer Dear M, I think the math gives ... Read More »

                            What Repaying Your Debt Will Cost You in Retirement – Calculator

                            What Will Debt Repayment Cost You in Retirement?

                            This calculator demonstrates the future retirement financial loss you may experience when electing to repay your debt with an extended repayment program offered by creditors, credit counseling or debt settlement, rather than intervene on your debt with solutions like bankruptcy which terminate the debt quickly and allow you to resume saving again for retirement. Calculate how much repaying your debt ... Read More »

                              Debt Snowball is Reducing Our Debt But What Next? – Doris

                              retirement

                              “Dear Steve, We owe 172,000.00 on our house and live in CA. We are in our late 4o’s with a net worth of 200,000.00 not including my pension. We both have another 20 or so years to retire. My husband is self employed as a painter therefore we have to put away extra retirement for him. We have life insurance, ... Read More »

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