Looking for money invest tricks to improve your financial positions and to solve cash problems ? Says Lynn Toomey, co-founder of Your Retirement Advisor, “Life is good. Retirement is better, if you are prepared.” She points out that retirement is laden with potential costs, such as healthcare, longevity, market volatility, and inflation. “Even if you think you’re saving enough and have assets, it still may not be enough. The earlier you start saving and investing, the longer compound interest can work its magic to help you achieve a successful retirement.” Check out items that could sabotage your retirement budget.
If you have not created a budget, even in a spreadsheet, DO IT. By no means am I a fan of obsessing over my budget, but when you are first starting out you need to do this. It gives you the big picture of how you are spending, what income you are bringing in, etc. Visualizing and seeing these numbers can help you catch issues or make your eyes pop from some rough looking numbers. But like I said, DON’T OBSESS OVER THIS. Read additional details at Make Money Tricks.
70% of Americans don’t have a will. If you have dependents, no matter how little or how much you own, you need a will. If your situation isn’t too complicated you can even do your own with software like WillMaker from Nolo Press. Protect your loved ones. Write a will. If you don’t keep good records, you’re probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It’s much easier than scrambling to find everything at tax time, only to miss items that might have saved you money.
You might hear the word “budget” and cringe a little, but you shouldn’t. Budgeting is not hard, and it doesn’t mean you have to stop doing things you enjoy. Budgeting is simply creating a plan for your money so you have a better idea of where it’s going every month. A popular and effective way to budget is with the 50/30/20 rule. How it works is 50% of your income goes towards the necessities (bills, food, housing, etc.), 20% of your income goes towards savings and the remaining 30% you can use for whatever you please. This is a nice and easy way to break down your paycheck, but you might need to adjust it a bit to fit your lifestyle. Mortgage: This one’s a tricky one, but mortgages are generally considered good debt. They are usually long-term loans with low interest rates, so you’ll still have money freed up for investments and such. The interest from mortgages is also tax deductible, so that’s a bonus. In the end, it’s up to you to decide whether purchasing a home is the right move, as the value of a house will not always rise as some people think. You’ll also have to add in the expenses of property tax, utilities, and home insurance. Source: http://aspiretomoney.com/.