How to Maximize Your Savings for Retirement
I am often asked how to best prioritize saving for the future, particularly retirement. Probably the best advice I can give is to start early. Early savers let time do the work for them. They start saving at least 10% of their salary as soon as they start their career. They know that their company match provides them with a guaranteed return on their money, in some cases of up to 50%. (There aren’t many investments that can provide the kind of return). They put additional savings into a Roth IRA–In a Roth IRA, after-tax dollars are invested but they grow tax-deferred and are ultimately withdrawn tax-free in retirement.
There are different theories in terms of how to prioritize the savings vehicles, but here’s one suggestion:
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How to KISS Your Investment Plan
Many Americans think that investing is difficult. They spend time searching for the best performing funds or asset classes, yet most investors consistently underperform the market. If your portfolio is still recovering from the financial crisis and you are looking for a way to get back on track, here is a way to KISS your investment plan to maximize your returns. The KISS method uses some time-tested principles that can help even novice investors outperform the majority of Americans.
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How to Keep College Costs Low
I spoke with Nat Roers today on the set of WLTX and responded to some questions young viewers had regarding saving for college in the face of a huge pricing bubble and how to handle loans when you can’t get a job out of college. Here is the clip which includes some tips and pointers to minimize the cost of a college education.
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How to Maximize Your Savings
Do you have adequate savings for your future and are you prioritizing your savings goals? Here are some tips to get you in tip top shape.
The current savings rate is running 4% of income, in the 70s Americans were savings double that amount. Compare this to the savings rates of Asian countries, like China and India, where savings rates are close to 30%.
Why are we such poor savers and how can we save more?
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Insurance is the Foundation of Your Financial Plan-Are You Protected?
Risk Management 101
Are you financially fit enough to protect your love ones in the event of an emergency or incapacitation? If you are like most Americans you are likely woefully underinsured when it comes to protection from a death, disability or even a natural disaster than destroys your home.
Here’s a quick quiz to assess your ability to manage these risks:
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8 Ways to Save Big This Year
If you are like most Americans, you want to reduce your debt and expenses and increase your savings; but, with small pay raises and inflation, it seems there is never enough money left at the end of the month. Here are some simple ideas to help you save big. In fact, these ideas could shave up to $9,000 off your budget.
1. Reevaluate your insurance: A good rule of thumb is to look at competing quotes at least every three years. Complacency could mean you have policies with less coverage that are perhaps more expensive than comparable policies from other carriers. I suggest getting quotes from a few captive agencies such as State Farm or Allstate but also working with a broker to see if he or she can provide you with an alternative quote. A broker will work with several insurance agencies and provide you with more options and flexibility.
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