Should You Have a Backup Plan Before Retiring Early?

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When it comes to planning for the future, one of the biggest concerns people face is the possibility of running out of money during retirement. Since you may have access to monthly Social Security or pension checks, this doesn’t mean literally running out of money altogether, but rather losing the ability to cover your expenses without taking on a part time or full time job to make ends meet. If you plan to retire in your 50s but you’re concerned about the long-term sustainability of your retirement strategy, it’s important to develop back-up plans to protect yourself if an unexpected curveball is thrown your way. Should You Have a Backup Plan Before Retiring Early? FIRE Movement First and foremost, let’s look … Read more

Top 4 Retirement Mistakes that Could Derail Your Retirement

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Are you getting close to retirement or still a decade or two away? Even if you plan on working for several more years, it’s extremely important to keep your retirement plans at the forefront of your mind. Ignore the excuse, “I still have plenty of time to start saving.” Don’t make these retirement mistakes. Unfortunately, this is the same logic that leaves many people with no savings upon reaching retirement age, so this long-term goal should be treated with equal or even greater importance than your short-term financial goals. Planning and saving for retirement can be stressful, but there are simple strategies you can implement at any age to avoid derailing your retirement goals. Here are four common problems people … Read more

Three Diversification Strategies for a Perfectly Balanced Portfolio

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The following is a guest post by Dan Kent, owner and writer for Stocktrades.ca. This guest post is about diversification strategies. For more information about guest posting on Money Q&A, check out our guest posting guidelines. I deal with a lot of new investors. Those who are attempting to leave their banks or fund managers and instead take control of their own finances. As such, the question that frequents my inbox the most from those who are looking for advice is “how do I construct an investment portfolio?” I’ve often stated that building a portfolio is the most difficult task you can take on as a new investor. The tendency to allocate either too little or too much in a … Read more

Are Car Subscription Services Worth It?

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It’s all about flexible subscriptions nowadays. Whether it’s a TV streaming service like Netflix and Hulu or quirky subscription boxes for seemingly every hobby in existence, consumer data research suggests our collective obsession with subscriptions is unlikely to go away any time soon. Consumers love subscriptions over ownership because there’s much more flexibility, convenience, and easier access to products and services. But what about subscribing to a car service, as opposed to buying a used car or leasing one for a few years? While car subscription services aren’t typically the most affordable option for potential car buyers, the valuable perks oftentimes make the slightly higher cost worth a shot. From car-specific subscriptions like Access by BMW, Care by Volvo, and … Read more

Funding Options When Your Home Appliances Go Wrong

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home appliances

Whether it’s your cooker, boiler, washing machine, freezer or another major home appliance, when they go wrong, our day-to-day lives can be drastically affected.  From not being able to cook to sitting in a freezing home in winter, the importance of having these fixed or replaced as soon as possible is impossible to ignore. When money is tight, however, it’s not always as simple as paying it out of our pockets. So, how do we get the money we need, when we need it? That’s what we’re exploring, here. Loans Whether you’re opting for a personal loan, home equity loan, an overdraft or you’re looking for a trustworthy short term loan provider, these can be great ways to get the … Read more

Why Do Women Need to Save More for Retirement?

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401k Retirement Plans

The impossible fantasy of living forever isn’t as great as it might seem, especially when you have to account for things like bills, expensive healthcare, and living on a fixed income while your expenses continue to rise. But, can you save more? Can you save more money for retirement? We may not be technologically advanced enough as a society to keep people alive indefinitely, but there is a very real trend related to this issue that not enough people are paying attention to. Women are living longer than men but only saving half as much for retirement. Whether you are a woman, married to one, or have a sister/daughter/niece, it’s critically important to spread awareness to other women about the … Read more