12 Personal Finance Stories
By: Nancy Anderson
This week is America Saves Week — coordinated by America Saves and the American Savings Education Council. Started in 2007, this week of focusing on savings provides an annual opportunity for organizations around the country to promote good savings behaviors to their members.
The premise is pretty straightforward: Set a savings goal, make a plan and fund it with an automatic savings program. Individuals are challenged to make a pledge to save on the America Saves website and start reviewing their savings status on an annual basis.
You often hear the expression “life is short” — and people use it as justification for doing many things they probably shouldn’t be doing. But the truth is, for many people is life is actually long. This post reminds readers to make decisions accordingly.
People often ask me why I write for Millennials when my blog is about transitioning to retirement. Any parent can answer that question. Would you retire if you felt your children were vulnerable financially? Baby boomers feel uneasy when our adult children aren’t secure. My blog often includes posts that give Millennials fresh perspective on money to help them be financially self-sufficient. This post was popular on Twitter, both with Millennials and baby boomers.
With student loan debt passing the trillion-dollar mark, college students and their parents are desperate for ideas to reduce expenses and maximize opportunities to put their college degrees to good use. When students can snag that diploma while minimizing expenses, everyone is better off.
There are certainly many reasons in favor of paying off your mortgage when you retire. However, paying off your mortgage isn’t always the right move for everyone. In this post, I explore the contrarian view against a payoff. In making any financial decision, it’s important to review all the possible alternatives.
We want to have it all, don’t we? If it’s possible to have a rewarding career, a family life and retire in style at a reasonable age, why not plan for it? In this post, I discuss how many women are delaying having children and inadvertently making their retirement planning more challenging. Of course, one of the many things we have no control over in life is when we get pregnant (as many readers pointed out in the comments). That said, those who want to have it all need to do some serious planning to make “it all” happen.
Baby boomers got hit with a triple whammy: The housing bubble burst, a lost decade of investment returns and persistent high unemployment. Many Americans’ dreams of retiring early were quickly dashed by the financial crisis of 2008. In this post, I discuss how to plan for a “working retirement,” and other strategies that can help you retire sooner rather than later.
Readers requested a sequel to the “Financial Decisions Made In Your 30s” post. I haven’t started the “Financial Decisions Made In Your 80s That Will Haunt You When You Are A Centenarian” post yet, but you may see one in the future as life expectancy continues to rise.
So far in my career as a financial planner, I have never had a client tell me she saved way too much! Jump on the bandwagon with America Saves Week and save more than you otherwise would. If you feel so inclined, take the pledge to save and use the savings assessment tool found here: http://www.americasaves.org/
You may just end up a little bit wealthier in the near future and a whole lot wealthier in the long term.