Why Your Spending in Retirement May Actually Increase

running out of money in retirement

How prepared are you for retirement? If you assume that your monthly expenses will decrease in your post-working life, then you might be surprised to learn that many retirees experience the exact opposite. Instead, their expenses go up. How can that be? If you pay off your mortgage before retiring then perhaps your monthly budget will be noticeably lower. But, it’s not reasonable to expect your current lifestyle will drastically change in a more frugal direction upon retirement. There are many ways we psychologically approach retirement, but “live as frugally as possible” is likely not part of the plan. Instead, retirees view it as a time to live in well-deserved luxury and relaxation, whether that involves going out to dinner … Read more

Top 4 Common Retirement Mistakes and How to Avoid Them

running out of money in retirement

There are plenty of ways to make retirement planning less stressful. But, people are oftentimes too caught up in saving for vacations or paying off debts to dedicate much effort to prepare for retirement. We all make mistakes. But, do you make retirement mistakes? Considering the significant income drop you’ll experience after retiring from your current line of work, planning for retirement is one of the most important things you’ll ever do in your life! The last thing you want to do is reach your 60s with little saved for retirement. To clear up any confusion about retirement planning and help you stay on track to meet your goals, here are some common mistakes you should avoid. 4 Common Retirement … Read more

Top 10 Ways to Save Money on Valentine’s Day Gifts

save money on Valentines Day

Valentines Day gifts can be expensive. But, they don’t have to be! You can save money on Valentine’s Day gifts and still make your significant other very happy! You just have to get a little creative on Valentine’s Day gift ideas. Valentine’s Day is an expensive holiday for most people. And, it’s very hard for couples and spouses to save money on Valentine’s Day. According to the National Retail Federation (NRF), expected sales for Valentine’s Day this year are expected to be over $19.7 billion. That’s an increase of over $1.1 billion from last year. The average person planning to spend $146 on candy, cards, gifts, and more which is over a 10% increase from last year and the highest spending total in the 12 years that … Read more

The Pros and Cons of Never Buying a Home

house for rent

As you’ve probably noticed, the housing market has experienced unprecedented sales opportunities over the past several months. It’s gotten to the point where many would-be buyers cannot keep up with the frenetic pace of bidding wars that often lead to homes selling for 10-30% or more over the asking price. But is it ever right to never buying a home? The hot market is likely the culmination of several factors, including ultra-low interest rates, higher-income workers saving a lot more money over the pandemic by staying home most of the time, and a significant shift in consumer lifestyle preferences from chic urban apartments to bigger homes in the less-populous suburbs. Why Never Buying a Home May Be Okay If you had … Read more

403b vs 457b – Pros and Cons of 403b Retirement Plans and 457b Retirement Plans

running out of money in retirement

Saving for retirement can be a confusing experience whether you’re just getting started in your early twenties or you’re on the verge of retiring within the next decade. There are so many different options to choose from – not all of which may be available to you, depending on what your employer offers – and choosing the best plan possible is critically important for securing your long-term financial sustainability. If you’ve encountered 403b retirement plans and/or 457b retirement plans as potential retirement planning options, then which one would be the ideal fit for your situation? 403b vs 457b Before we take a deep dive into the pros and cons of each type of retirement savings account, let’s start with the … Read more

What Is Insider Buying? How Investors Can Make Money Spotting Insider Buying

stock investing

Insider buying is when a director, officer, or executive buys shares in a corporation they work for. It’s not insider trading which refers to corporate insiders making illegal stock purchases based on non-public information. Investors can spot insider buying by looking for directors, officers, or executives who have recently bought shares in the company they work for and use this information to decide whether to invest in that company as well. When people with insider knowledge buy stocks themselves, it means that they believe the company has potential and would be worth investing in at some point down the line. You can find the latest insider trades from company executives by looking at SEC Form 4 filings. For example, if … Read more