ANDERSON: Uh oh! I forgot to prepare for retirement
February 21, 2014
It is often right before retirement that some
people finally sit down to review their retirement funds and realize
that time has run out and they are far short of what they need. If
this is the case for you, there are adjustments you can make to your
retirement plan to get you closer to meeting your retirement
expectations that don't include crossing your fingers or buying lotto
Jan 13, 2014
Debt has become something many people have just
accepted as a part of life and they simply put up with the negatives
it brings. Wouldnít it be great as part of your financial planning
if you could simply write a break up letter to debt?
often overlooked, preparing for an emergency or job loss is an
important part of an overall financial plan. Consider the fact that
you may already be much closer than you think. As with most financial
planning goals, creating an emergency fund starts with small baby
ANDERSON: How to recognize a personal
July 19, 2013
the biggest roadblock to our financial success is not realizing and
accepting our own financial realities. You probably know someone who
has some major struggles with debt. But could that person actually be
you and you don't even realize it? Here are some questions you can
ask yourself so you may recognize if you have a personal debt crisis.
Debt can destroy a retirement plan and getting out of debt should be
a part of your wealth management.
Jul 15, 2013
you're like the average person, you may have paying your bills down
to a science but saving regularly can be difficult. We tend to first
pay the bills we owe, buy the things we need, and if there is any
left, we then buy the things we want. Increasing your savings,
investing and retirement planning may be easier than you think.
Jun 25, 2013
it comes to investing our money and planning for our retirement,
sometimes we all need help and advice. However, it is very important
that we are careful about the source of the advice we are given. Too
often we rely on water cooler advice that, if taken, can make a mess
of our financial future and destroy what wealth management and
financial planning we have done.
Apr 10, 2013
There are attorneys and CPAs selling insurance
and investments as well as insurance professionals calling themselves
financial advisors limited to a list of insurance products they're
anxious to sell you. When deciding who to go to for help with your
financial plan and retirement planning, consider how they are paid.
This will often reveal the motivation behind their advice. A
fee-based investment advisor is often the best option as you pay for
their advice rather than pay them to sell you a product.
Mar 19, 2013
mistake that people often make when creating a financial plan and
saving for retirement is neglecting to factor in how much inflation
will affect the cost of living. Because of this it is difficult to
project how much income you'll need every year to meet expenses. They
call the retirement years the golden years, but they'll lose their
shine if you can't live comfortably off of a fixed income.
Mar 18, 2013
most teenagers will try to convince you they know everything, even
the basics of money management can be unknown to them. Here are some
key ways to creating a financially responsible teen and itís a
responsible teen that ends up a responsible adult when it comes to
their future financial planning and wealth management.
ANDERSON: Unlock the doors to estimating
Jan 30, 2013
can be tough to work on your retirement planning when you have no
idea how much money you need to save. This makes it extremely
difficult to set monetary goals in a financial or retirement plan.
While your financial adviser can help you, there are some simple
things you can do on your own to make the process less arduous.
for many of us, procrastination follows us throughout life. This can
get in the way of retirement planning. Although it may be more
difficult to reach your desired goal if youíve procrastinated, it's
never too late to get that retirement nest egg going, as long as you
are still in the workforce. By using retirement tools like a 401(k),
Roth or traditional IRA, we can get on the right financial planning
path to our future.
June 19, 2012
When you find
yourself in a tight spot, it can be tempting to pull money out of
your 401(k). It can get you money fast, and it's better than going to
a payday lender, but you should only do so if you've exhausted your
other options. There are several reasons why.
ANDERSON: Prepare now to handle finances after a death
June 16, 2012
A loved one's
death is a traumatic and difficult time for surviving family members.
Sorting out the deceased's finances after the funeral can be a
complicated and stressful process which has led to many unnecessary
family rifts. However, there are several things that need to be
completed to make the financial aftermath go as smoothly as possible.
ANDERSON: Does paying off debt always
May 28, 2012
When I was a
child, my parents ingrained in me the idea that owing money is bad,
and I should avoid it at all costs -- literally. What they failed to
mention, though, is that this is not always the case. If you put all
of your money into paying off debt, it's likely you're neglecting
other important areas of your financial life.
ANDERSON: It's too easy to let money destroy a friendship
May 18, 2012
ends donít meet, people end up having to reach out to friends or
family to get financial help. Most people wisely refuse when asked
because they recognize the strain that can be placed on a
relationship when money gets involved. Others, at the risk of
negatively impacting not just their financial plan but their
relationship, go ahead and lend the money. What is the best way to
ANDERSON: Tricks to avoid banking fees
April 30, 2012
In response to recent Congressional
legislation, banks have started adding fees where there were no fees
before, which makes it necessary for you to come up with new ways to
avoid having to pay them. Take a look at your most recent bank
statement. All those fees can add up -- especially if you're not
keeping an eye on them.
ANDERSON: Don't blow your tax refund
April 3, 2012
"It's free money!" That's what
retailers want you to believe. But the truth is, your tax refund is
not some generous gift from Uncle Sam. Instead, it consists of the
hard-earned money that you overpaid in the previous tax year. Instead
of considering your immediate wants, which may pass faster than
you'll admit, think about what would be really beneficial to you. A
refund, when used wisely, can get you closer to reaching your
investing and retirement goals.
ANDERSON: Kids' allowances teach big money lessons
Feb 3, 2012
parents, I'm always looking for ways to teach my kids important life
lessons in a way that they can easily understand. One such lesson I
work hard to impart is the importance and value of money. A good way,
if done right, to help children learn that dollars don't just grow on
trees and credit cards aren't magic pieces of plastic is to start
giving them an allowance at an early age.
ANDERSON: One couple + two accounts
= more benefits
Nov 25, 2011
you ever heard the phrase "it takes two"? Well, when it
comes to planning for retirement those words could never ring more
true. Many married individuals decide not to contribute to retirement
accounts since they feel that their spouse is saving enough for the
both of them. While taking care of each other is, of course,
important, being self-sufficient is as well.
ANDERSON: Understand dangers of transferring debt from card to card
Oct 21, 2011
be seduced by glossy new credit card invitations you get in the mail.
Consider your financial future before jumping on one of those credit
card offers. If you simply can't resist them, you can always opt-out
of receiving these offers. This keeps the temptation out of your
mailbox by removing you from marketers' mailing lists and keeps you
focused on your financial plan.
ANDERSON: Talking about retirement
is part of the planning
Oct 14, 2011
make a big mistake when it comes to retirement. One plans on relaxing
and gardening while the other wants to travel and stay active.
Critical conversations are not had because each assumes his or her
partner has the same idea or retirement. The time to approach these
issues is not when the two of you reach retirement age. It's
important to communicate what your goals are now, during the
retirement planning process, both to avoid potential conflict and to
plan your savings accordingly.
ANDERSON: Think twice before co-signing a loan
Oct 7, 2011
people innocently fall for is agreeing to co-sign a loan for their
children, or more often, grandchildren. You would probably think that
this may be innocent enough but this can be the equivalent of downing
all the sleeping pills and liquor in the house in an effort to
child-proof your home. Keeping an eye on your overall retirement and
financial plan is important in this situation.
ANDERSON: How to enjoy the investment
May 27, 2011
investing, we know there are risks. Even in the best portfolios there
are ups and downs. Many of us seem fine with this idea until we
actually start to experience this bumpy ride for ourselves and then
we panic and want to jump off the ride. We were excited about the
potential gains while forgetting that there may be a rough ride to
ANDERSON: Are you pulling a prank on your investments?
April 22, 2001
Many investors try to implement a long-term
strategy by reacting to short-term trends. This is frequently an
exercise in futility. In their efforts to keep up, they find
themselves making the age-old mistake of buying an investment at its
peak price, then subsequently selling it at its low. In order to
avoid some of the common mistakes investors make, there are a few
things you need to keep in mind.