How to Help Your Spouse Start Investing

  Are you married or in a relationship with someone who isn’t exactly financially savvy? This is normal for many relationships, but it’s important to understand your spouse’s views on money and encourage them to become financially independent by learning how to budget, invest, and start investing for retirement on their own. While money management was traditionally a husband’s job, Time Magazine reported in 2014 that a significant number of wives now bring in as much, if not more, money than their husbands and consider themselves very knowledgeable about personal finance matters. While there is less of a gender gap nowadays, budgeting and other financial responsibilities still tend to fall to one person, instead of making it a team effort. … Read more

Retirement Savings Options for Stay at Home Parents

There are approximately 12 million stay at home parents in the U.S. , 1.9 million of which are stay at home dads. Some of those stay at home parents raise children as their jobs. Other stay at home parents have telecommuting jobs that allow them to work from home. Either way, there are a few unique financial considerations to make when your own income is absent or irregular. Retirement Savings Options Rather than avoiding retirement planning altogether or risking a lack of diversified retirement portfolios, here are a few retirement savings options for stay at home parents who want to develop their own retirement nest eggs. Spousal IRA Contributions Do you and your spouse file a joint tax return each year? … Read more

The Hidden Costs of Car Ownership that Can Bite You

The Hidden Costs of Car Ownership that Can Bite You

Most of us need cars to get to and from our jobs, campuses, activities, and homes, but few of us take the time to really think about the affordability of car ownership. Should you buy or lease a car? Experts are divided on the best option for drivers who want to save money without sacrificing safety and convenience of personal transportation. On one hand, leasing a car is a great way to have a new car in your driveway with little to no down payment upfront. On the other hand, owning your own car gives you an asset (albeit a depreciating one) that you can later sell for a return of some of your money rather than just giving the … Read more

Retirement Mistakes You Should Avoid at All Costs

Understanding The Ins And Outs Of 401k Retirement Plans

Did you know that one in four workers have less than $1,000 saved for retirement? Yikes. Many people put off saving for retirement because of credit cards or student loan debt. They may also prioritize lifestyle over savings, deciding to live at one’s means instead of below. This can be one of the biggest retirement mistakes. Oftentimes people just don’t’ know where to start, even when they want to save for retirement. If your employer offers a 401k, that’s great,  you should probably take advantage of that. But, even if they don’t there are still plenty of ways to save for retirement. 5 Retirement Mistakes to Avoid A big part of saving for retirement is not making mistakes. If you’re not … Read more

Top 5 Ways to Make Retirement Less Financially Stressful

Make Retirement Less Stressful

No matter how much you save for retirement, it always seems like it doesn’t hurt to sock away a little bit more. It’s understandable given how many people are living paycheck to paycheck. The Economic Policy Institute (EPI) recently found about half of Americans have nothing saved for retirement. How to Make Retirement Less Stressful Financially The whole process of retirement planning can be stressful, but taking control of your financial future is also empowering. Taking the time to create a comprehensive plan can go a long way in easing the financial stress of retirement. Plan for Funeral Expenses Funeral costs are probably the last thing anyone wants to think about as they near retirement. But when funeral services are … Read more

How Our Minds Get in the Way of Our Money with Behavioral Finance

Investing with Behavioral Finance

Many of you may not have heard of the term behavioral finance, but it is hard to find a point where our minds do not get in the way of our money. It happens all the time. We try to kid ourselves that we are rational human beings who make rational decisions, but history and our stock market has proved us wrong time and time again. In fact, we let our emotions take hold of us more often than we would like to admit much to the detriment of our finances. Below are three classic examples of behavioral finance and how we behave irrationally with our money and let our minds get in the way and cost us. We Have … Read more