4 Ways to Protect Your Retirement Nest Egg in a Volatile Stock Market

protect your retirement savings

The Dow Jones Industrial Average recently experienced the largest single-day drop in history, but it bounced back relatively quickly. Ever since then, the markets have been swinging up and down so much that some economists have wondered whether a recession is on the horizon. But are you protecting your retirement? For the average American who’s saving for retirement, this economic news probably sounds terrifying. Saving for retirement is hard enough, now we have to deal with crazy market fluctuations, too? Fortunately, there are several ways you can protect your retirement nest egg in the midst of a volatile economy. Protecting Your Retirement Nest Egg Consistently Contribute  One of the biggest retirement planning mistakes people make is contributing inconsistently to their … Read more

Are Baby Boomers Really Doomed When it Comes to Retirement?

protect your retirement savings

There’s plenty of doom and gloom news surrounding the Millennial Generation’s financial management. But, new reports suggest Baby Boomers aren’t doing too well either. The baby boomers retirement is an important topic to understand. Baby Boomers, which are those born roughly between 1946 and 1962, seem to be missing the mark when it comes to saving enough money for retirement. As MarketWatch pointed out, the average Baby Boomer has just $263,000 saved in their employer-sponsored retirement plan, despite needing about $658,000 to live comfortably on. If the math holds up, this means the average Baby Boomer has saved less than half of what they really need to live on during retirement. This is especially concerning now that 10,000 or so Baby … Read more

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

How to Increase Your Value – What Your Organization Needs from You the Most

influence and impact

The following is a guest post by Bill Berman and George Bradt, the authors of Influence and Impact: Discover and Excel at What Your Organization Needs From You The Most. This blog post is about how to increase your value at your job or organization. If you’d like to submit a guest post to Money Q&A, be sure to check out the site’s guest posting guidelines. NOTE – This article is excerpted with permission of the publisher, Wiley, from Influence and Impact: Discover and Excel at What Your Organization Needs From You The Most by Bill Berman and George Bradt. Copyright (c) 2021 by Bill Berman and George Bradt. All rights reserved. This book is available at all bookstores and online booksellers. … 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