Recently a friend asked me about a strategy proposed to her by a financial adviser. The adviser was recommending that she and her husband invest their children's college savings in a life insurance policy. Here were the benefits as given by the adviser: The money grows risk free. It is life insurance the children can … Continue reading Why Life Insurance is Not a Good Way to Save for College
I may be dating myself by discussing check registers. In this age of ubiquitous electronic payments, few use checks anymore. Today payments are posted to your account nearly immediately, so what you see online in your account really is what you have. But it still may not be what you can spend. If you haven't … Continue reading How to Use a Check Register to Take Control of Your Money
Wouldn't it be nice to have complete control over your life? Quit the job you hate. Travel for a year or two. Work for a non-profit despite the lower pay. Wouldn't it be great to be able to do these things, or whatever else is on your list, without fear? You don't have to be … Continue reading Freedom and Financial Security
The other day, I was putting the cushions for our patio furniture away when I realized we have had them for at least ten years. They're nothing special. I bought them at Home Depot for less than $20 each. They're definitely not something you'd expect to last so long. So what is the secret? The … Continue reading Is Your Money Leaking Away?
Recently I was helping my daughter with her bank account and noticed a $1 withdrawal labeled "Stash Fee". It was a fee to robo-adviser, Stash. Normally I would be thrilled by the good news that my daughter was saving and investing. But in this case I wasn't. I had a couple of concerns, but the biggest … Continue reading How to Lose Money with Every Dollar You Invest
Does your money simply disappear without you fully knowing what happened to it? It can be really frustrating, when you're trying to save money, if you never seem to have anything left over at the end of the month. When you don't have a recollection of how you spent your money, you are spending it … Continue reading Five Rules to Get Your Spending Under Control
This last Monday (May 21st, 2018), Buzzfeed highlighted the Twitter responses to a recent Marketwatch article that said by the time you are 35 you should have saved twice your salary. Some of the Twitter comments were very funny. Here are a few from the Buzzfeed article. By the time you're 35 you should have saved … Continue reading Double Your Salary in Savings by Age 35 or Double Your Savings from Salary
My husband, Jeff, recently turned 60. It's an interesting age. It's as if you've crested some hill, and can now see retirement laid out before you. Jeff has been retired for five years, but his friends who are still working are starting to think seriously about what's next. Conversations on the topic inevitably turn to … Continue reading When to Take Social Security
The 2018 Tax Reform bill will have a significant impact on families' income taxes for 2018. The bill went into affect as of January 1st, and employers received guidance on how much to deduct from employee pay in February. The guidance was designed to line up the new tax rates with the prior withholding tables, … Continue reading The New Withholding Calculator is Here!
It is America Saves Week once again. During this week, each year, the Consumer Federation of America encourages people to save for their financial security by pledging to save money, reduce debt and build wealth over time. It's a great opportunity for you to put your action plan in place. What action plan you say? … Continue reading America Saves Week 2018