The next several guest blog posts are from my Dad who retired many years ago and wrote several articles to assist me in writing my book, The Financial Guide to Life. First up is an explanation of the IRS’s Required Minimum Distribution rules for withdrawing money from your tax-deferred retirement savings accounts. Then we will use this background for a deeper discussion of withdrawal strategies. Follow along with the tables in IRS Publication 590-B, especially the Appendices.Continue reading
2019 is here already and you should resolve to make it better than 2018. Some things are out of your control, but plenty of things you can control, including your finances. New Year’s resolutions are popular because this is a great time to reflect on what parts of your life could use improvement. “Losing weight” is always popular as is some aspect of improving our finances. Improving your financial future is one of the most useful aspects of your life to improve because it affects so many other things. So I’m pointing you to my series on great New Year’s resolutions that can actually change your financial future during 2017. The Financial Guide to Life deals with managing, saving, investing, and spending your money, so I have recommended four personal finance new years resolutions that are achievable and can bring you financial security and peace of mind.
New Years Resolutions for 2019
- Live within your means.
- Save by paying yourself first using auto-pay.
- Make investing easy.
- Avoid paying full price.
Identify which financial areas are most important to you, set priorities, and make a plan for your new years resolutions for money management.
Let’s close this series on financial issues for women with things to consider when a spouse dies. This especially affects women, but is certainly relevant to men as well. Statistically, women live longer than men, are younger than their husbands, and are thus more likely to outlive their husbands. Two-thirds of women age 75-84 are on their own. Be prepared.Continue reading
I have posted many articles about retirement, but here are issues that may have special relevance to women and retirement (although men should also pay attention). The basic principles still apply: plan for your own retirement, start saving early, save extra, and don’t avoid all risky investments (that is stocks that tends over time to grow more).
“Websites to save money” is one of my favorite topics, so here is a new list in no particular order of websites you should check out to save money. See my facebook page for my more frequent finds.
- https://www.collegeatlas.org/financial-aid-options – Financial Aid: How to Get Financial Aid
- https://www.theseniorlist.com/biggest-list-of-senior-discounts/ – Senior discounts
- http://www.gutenberg.org/ – free ebooks
- https://www.freecycle.org/ – People giving away free stuff they no longer need
- https://www.rehashclothes.com/ – Swap clothes for free
- www.msn.com%2Fen-us%2Ftravel%2Ftips%2F6-secrets-to-landing-the-best-air-fares-by-timing-it-right – Find the best time to get airfares
- https://www.thestreet.com/personal-finance/money-saving-apps-14727479 – Find money saving apps
- http://time.com/money/5273063/best-senior-discounts/ – More senior discounts
- https://www.msn.com/en-us/travel/tips/30-secrets-to-save-big-on-last-minute-travel/ss-AAyWQ54?ocid=spartandhp#image=1 – Save on last minute travel
- https://www.facebook.com/FinancialGuideToLife/?ref=bookmarks – Tipping when traveling
It’s September and that means back to school. College is the most expensive school and while paying those college bills, you are probably wondering whether it is really worth it, so consider this:
College graduates, on average, earned 56% more than high school grads in 2015, according to data compiled by the Economic Policy Institute.
Read more from USA Today
With two college students of my own, saving money while in college is a topic of interest to me, so I’ve written many posts about saving and paying for college, including how to save money while in college. So today, I’m going to point you towards those posts that are very timely for this new school year. Continue reading
Preview the book that saves you money, pays for itself, and answers your financial questions. I now have a video that quickly summarizes how my book, the Financial Guide to Life, helps you save, manage, invest, and spend your money. View my YouTube video. A book can pay for itself by saving you money, improving your investing, and getting you on the road to financial security. You signed up at my website; now checkout my video and book: paperback or ebook.
Retirement savings for women presents several issues women should be aware of early in their savings endeavors. Most important is how earning less and living longer has implications for retirement. On average, women live more than five years longer than men, which means that they need enough retirement income to last longer. Additionally, they are more likely to be living alone at some time in their retirement. This makes preparing for their own retirement income even more important while potentially facing more hurdles. Women may be in and out of the work force more often, contributing to lower life-time earnings and less likely to be vested in company pension plans.
Take advantage of websites to save money (besides this one). I am constantly on the lookout for useful websites that save you money and you will find many throughout my book and blog posts. Here are some recent finds.
https://wallethub.com/edu/credit-card-extended-warranty-study/25686/ – Most credit cards will extend the warranty of items you buy with their Card. This article provides useful information on taking advantage of this perk. This is a much better option than paying for one of those extended warranties often offered by websites before you checkout.
https://www.joinhoney.com/ – I have often urged you to take advantage of coupon codes to get a discount when shopping online (http://www.financialguidetolife.com/?s=coupon+codes&submit=Search ) . Honey.com takes this a step further by automatically applying the “best” code for you without you having to remember to search. It is an extension you add to your browser and is one of the relatively few extensions that work with Amazon.
https://www.momondo.com/ – My favorite website for the widest search for airline tickets. There are many good websites that search airline tickets, some with more features, but this one seems to do the most thorough search. But remember that some airlines like Southwest don’t appear in aggregators, so you should search their website directly.
Let’s continue our series on special financial issues that may especially affect women. When people marry, they still maintain a separate credit rating. This will now be affected by accounts that are maintained separately as well as co-signed together. When married women choose to apply for credit, they can do so under their maiden or married name. Having a strong credit rating is not only important for getting joint or separate credit while married, but may be needed again if the marriage ends.