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Tag Archives: saving for retirement

Money Isn’t the Root of all Evil…it’s Procrastination

time and money

We’ve all heard the phrase, “Money is the root of all evil.” After 22 years of counseling hundreds of investors and savers, I’m pretty sure it’s procrastination. Procrastination can kill you when it comes to saving. Putting off saving, investing or planning for the future can be detrimental to your financial health. You’ve also seen all the illustrations about how ... 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 »

      Odds Are You Are Going to Retire Hungry and Poor

      If your 75 year old self could talk to you today about making retirement saving a priority, what advice do you think you'd hear?

      Americans can be in as much current day denial as they want to about their future and what retirement will look like but recent studies show a significant number of people are not at all confident they will be able to retire with adequate income and savings. According to the Employee Benefit Research institute, 49 percent of workers surveyed said ... Read More »

        I’m 62 Years Old and Saving Hard for Retirement. What About Our Other Debt? – Michael


        “Dear Steve, I am 62 yo, wife is 61 yo. Our combined stats: -We have $27k in credit card debt (0% interest, due to finding 12-18 month 0% promotional rates), -$200k home mortgage using a 5/5 arm at 2.75% which amounts to a $1000/month P&I payment–our property tax in NJ is $1000/month, -$400k in retirement savings–401k, ira, annuities mostly in ... Read More »

          Chances Are You WIll Live Long Enough to Be Broke


          Photo Credit: Rosie O’Beirne I just read that the life expectancy for people in the United States and Canada continues to rise. Seems like a real blessing, doesn’t it. We get to live a longer life. But how are we going to afford medical care and to feed ourselves if life far exceeds our ability to work and earn? Unless ... Read More »

            No Retirement, No Savings, Drowning in Debt. – Randy

            Ready to Collapse

            “Dear Steve, Self employed – earned about $80K in 2010 (up from 2009); 58 years old. $10K in savings; no retirement plan other than to work ’till the end. Home owner – mortgage etc. about $2K/mo; no equity, but not underwater either – just about even. Unsecured debt is about $50K. Not behind yet in anything, but between self-employment taxes ... Read More »

              We Are Seven Years From Retiring. How About This Plan for Eliminating Our Debt? – Alan

              Ready to Collapse

              “Dear Steve, We are 7 years from retiring ( we are on target to have 5K a month in retirement annuities) Owe 110K on house Have 68K in college loans for 4 kids to pay off Have 28K in credit card Have 25K in 2 car loans The wife and I bring home 102K combined each year I would like ... Read More »

                How Can We Pay Down Our Debt to Save For College? – Marie

                Ready to Collapse

                “Dear Steve, I will try to make a long story short…Currently have approx $38K in credit card debt, $30K in HELOC, $195K in first mortgage, $8K in car loan. Husband is collecting disability for heart condition and works part-time. Our combined income with disability for husband and payments for our children, his part-time income and my full time income is ... Read More »

                  I’ve Never Participated in My Companies 401(k). – Steve

                  Ready to Collapse

                  “Dear Steve, I am 40 yrs old and have been working at the current corporation for about 10 years now. I have not participated in the 401K plan(they do not contribute or match at all). I feel like i am the only one there who doesnt. Now everyone probably have some decent money towards retirement and I have nothing at ... Read More »

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