As you work to build your retirement savings account, you might wonder whether you should fund other accounts as well. After all, if your end goal is to retire on a tropical island, shouldn’t you put every dime you can into your retirement savings? While saving for retirement is important—it’s one of my “big three” [...]
If you’re an employee whose company offers a 403(b) plan, it’s important to understand the difference between it and a 401(k) plan. Generally, nonprofit organizations such as schools and hospitals offer 403(b)s, though they may offer 401(k)s as well. For-profit companies may offer 401(k)s, but they are not allowed to offer 403(b)s. The similarities between [...]
No matter the circumstances, divorce can be painful—both emotionally and financially, including issues surrounding various types of insurance policies. As you work through your finances, be sure to consider the insurance implications of divorce. Auto insurance A divorced or separated couple will need to decide who will wind up with any car (or cars), and [...]
Ready to make more money this year? Earning extra cash doesn’t have to be a chore, as long as you’ve got a plan and the right resources. Whether you’re looking to pay off a debt faster, save more for retirement or plan for a nice vacation later in the year, boosting your income could be [...]
It’s always good to see first-time investors take a stab at the stock market, especially since it has tripled in value since 2009. But sometimes they are over-eager to go “all in” on one company. A caller on my WSB radio show this week told me she was ready to invest in a company that [...]
For people who struggle with saving money, starting small in the new year is a great first step. If you want to save an extra $1,000 in the new year, you’ll need to stash away about $83 per month. There are many different ways to save, but your success depends on your personal spending habits. [...]
“Spend less, save more.” It’s the third most popular new year’s resolution behind getting organized and losing weight, according to a Journal of Clinical Psychology study on resolutions. While I can’t help much with resolutions one and two (though it is helpful to apply the same principles to thinning your waistline as thinning your budget), the third one is [...]
With all the store signs advertising their holidays sales, it’s easy to assume that everything is at its best price in December. However, smart shoppers know otherwise. They only buy items in December that are truly on rock-bottom sale, and they wait until after the holidays season is over to purchase everything else. If you’re [...]
My 17-year-old daughter is just about to get her first credit card. Next year at this time she’ll be in college, and I want her to get some credit card experience now, while I can still mentor her. If you’re teaching your child about credit, maybe some of what I’m doing can be helpful to [...]
When you decide you’re ready to save more money, it’s natural to focus on certain items: refinancing your house, selling a car, or cutting back on going to restaurants. Those are often great ways to get ahead on your savings quite quickly. However, if you want to start slowly, building your savings without feeling the [...]
