There’s no such thing as a perfect retirement plan, but there are certainly common mistakes you should avoid at all costs. Although saving for retirement is obviously important, you’d be surprised by how many people are barely saving or not saving at all. Don’t risk having to work indefinitely by procrastinating on your retirement planning. Retirement Mistakes Everyone Makes Waiting for the ‘Perfect Moment’ to Start Saving The last thing you want to do is reach retirement age with no savings. The problem with retirement is that we tend … [Read more...] about 5 Retirement Mistakes Everyone Makes
Retirement
How Retirees Can Save and Make Money with Airbnb
Planning for retirement can be stressful, especially if you’re unsure whether you’ll have enough money to retire permanently. If you’re looking for easy ways to reduce your expenses and boost your income during retirement, then you can’t afford to ignore the rewarding opportunities Airbnb can offer. As of 2018, there are more than four million Airbnb listings worldwide. In fact, 191 countries participate. There are more than 200,000 senior hosts on Airbnb, and the company says the 60+ crowd is the fastest-growing demographic using the … [Read more...] about How Retirees Can Save and Make Money with Airbnb
A Single Parent’s Guide to Saving for Retirement
Retirement planning is one of the most important aspects of adulthood. If you don’t save for retirement as early as possible, then you risk not being able to retire from your job at all due. For single parents, planning for retirement might seem even more daunting because you’re playing the role of breadwinner and care provider for your family while trying to plan for your own future all at the same time. It can be exhausting trying to make enough money to meet your family’s needs, let alone have leftover money to put into … [Read more...] about A Single Parent’s Guide to Saving for Retirement
Top 3 Best Passive Income Ideas for Retirees
Whether you’re 10 years away from retirement or retiring this year, money management and saving don’t stop when your regular job income does. In fact, financial management in retirement can be a stressful experience if you don’t plan carefully beforehand and continue your saving habits during your golden years. To avoid the panic-inducing question of whether your current nest egg will last as long as you do, there are several retirement mistakes to avoid. Don't increase your spending, pay attention to potential income opportunities, and … [Read more...] about Top 3 Best Passive Income Ideas for Retirees
Tax Deductions for 401K Retirement Accounts Explained
A common myth about retirement planning is that 401k accounts are always superior to IRAs. On its face, this myth appears true. You can contribute significantly more to a 401k each year than an IRA. You can contribute $18,500 to your 401k, versus $5,500 to your IRA for workers under 50 years old. That contribution limit rises to $24,500 for your 401k versus $6,500 for your IRA for workers ages 50 and above. 401k contributions lower your tax burden year-after-year. Some employers even offer matching contributions of up to 3-6% for 401k … [Read more...] about Tax Deductions for 401K Retirement Accounts Explained
Why We Tend to Save for Vacation and Not for Retirement
Americans are often supposed to be too hard-working. Half of the workers do not use all the vacation days they have. According to NerdWallet research, we prefer getaways, but before it, we should plan our long-term finances. Nowadays more than 63% of Americans want to go on vacation in the following half a year. In 2009, this figure was 33%. That year was a year of Great Recession, but it shows us anyway how far we are from this point. Skipping the relaxation seems to be boring, but some data show that your overall happiness increases … [Read more...] about Why We Tend to Save for Vacation and Not for Retirement