Healthy Retirement 101: What to Do in Your 40s

 Saving for retirement can be a balancing act, particularly if you put it off until a time when you’re earning a bit more money. Often, the more you earn, the greater your financial responsibilities become, so by the time you reach your 40s, your income might be stretching in several different directions. But this doesn’t have to doom you to a frugal retirement.   Hit the Accelerator... Continue reading

Money Management for Retirement: Savings Plans That'll Fit Into Your Budget

Retirement Savings It is often debated whether Social Security will be around in 20 to 30 years. But the reality is that you won't be able to survive solely on Social Security benefits. Organizing your priorities so that you give the same attention to your future retirement savings that you give to your current household and personal expenses is fundamental to securing that proverbial nest egg.... Continue reading

Make Your Golden Years Great: Money Management & Budgeting Strategies for People Close to Retirement

Life Does Not Get Cheaper in Retirement "In my experience, clients are often surprised to find that their expenses do not go down after retiring, and some new budget realities need to be included in the plan," Briboneria says. After retirement, unless you pay off an outstanding mortgage, your regular living expenses will stay at about the same level. Travel is often one of the big plans during... Continue reading

Personal Finance Checkup: How to Tell if You're On Track with Retirement Savings

Know Your Current Financial Status The first step is knowing the status of your personal finances. "Getting from point A to point B, financially speaking, starts by knowing where point A is," says certified public accountant, Mark Noel. You need to consider your current income, assets, debts and expenses. If you've created a detailed monthly budget, you'll have a good idea about how much... Continue reading

Am I Ready to Retire? Financial Management for Your Future

Am I Ready to Retire? Financial Management for Your Future With savings, this could be you. It's never too early to get started on financial management for your future. Great retirements require planning and long-term financial management: you need to build up money and pay down debt so that you can afford to do what you want when you're done working. Even so, "whether you're 24 or 64, you'd be... Continue reading

When Your Budget Doesn't Cut It: Early Withdrawals from Retirement Savings Plans

Congress created tax laws for retirement savings plans that both encourage savings and punish early withdrawals. The rules extend to many types of accounts, including traditional individual retirement accounts, 401(k) plans and Roth-style arrangements. However, life is sometimes not so tidy, and budgets, no matter how meticulously planned, may be too aggressive, can become obsolete or overwhelmed... Continue reading

Need Money? Personal Finance Tips When Borrowing from a Retirement Account

When you're in a bind financially, it can be very tempting to turn to your nest egg for a quick cash infusion. After all, you're just borrowing it and have every intention of paying it back. However, "taking a loan from a 401(k) plan is often a last resort," according to Anika Hedstrom, MBA and Senior Financial Analyst practicing in Southern Oregon. Continue reading

Changing Jobs? Finance Tips on What to Do With a 401K Retirement Plan

Congratulations on your new job! Before you are too far gone from your old position, you need to decide what to do with the 401(k) account balance at your old employer. Financial planning business owner Mike Mills warns that your decision could be the difference between losing and gaining large sums of money for your retirement. Continue reading

How to Reduce Spending, Expenses & Debt in Retirement

How to Reduce Spending, Expenses & Debt in Retirement When you have an extra 2,000 hours to fill because you're not working, it's easy to let your expenses run amok. What's more, even people who have saved wisely often find that during retirement their incomes are more modest than when they were working. Regardless of the reason, you can take control of your retirement spending and debt so... Continue reading
Emergency Fund

Money Management: Why You Need an Emergency Fund

Kiplinger contributing editor Cameron Huddleston learned this lesson the hard way: Everybody needs an emergency fund. She shares her experience here as a vivid reminder of why we all need money set aside for a rainy day. Why? Because of the chance you could lose your job, or your refrigerator could die, or you might have to get an emergency root canal. And if you don't have enough cash on hand,... Continue reading