Last Build Date: Fri, 20 Jan 2017 21:16:46 +0000
Fri, 20 Jan 2017 21:11:03 +0000
Retirees may have different tastes in culture and recreation, but there are some basic aspects of a retirement living environment that have fairly universal appeal. Getrichslowly.org ranked the 20 best cities for retirement to help you decide where to spend your golden years, coming up with a diverse list, with choices that span across the country. There are some names on the list you might expect, and some that will probably come as a big...(image)
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Fri, 30 Dec 2016 15:00:26 +0000
Buy Power Capital One Card Review Note: See also How to Choose a Credit Card for tips on finding the right credit card for you. Our partner site CardRatings.com also has articles to help you find the right card be it a cash back credit card or balance transfer credit card. Their Credit Card Comparison Table also allows you to easily search dozens of current credit card offers. Thinking of using a credit card for...(image)
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Tue, 27 Dec 2016 01:51:58 +0000
It’s a common set of questions: How much will I have in savings when I retire and am I using the right tools to get there? Let’s tackle the first one first. There are four components to this kind of retirement savings projection: 1. Investment returns While financial planners often use historical average returns for these assumptions, you may be wise to be more conservative. Assuming lower-than-average returns will help you prepare for sub-par market...(image)
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Thu, 22 Dec 2016 19:49:08 +0000
I’ve been earning a living since the Bronze Age (circa 1973), without ever holding a day job. Over the decades I’ve had my share of money struggles, but I found my way around them and am now, at 65, in the best financial shape of my life. Here are seven lessons that helped me arrive where I am today. 1. Take risks. My final semester of college, while attending Tulane University, I decided after graduation...(image)
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Wed, 21 Dec 2016 21:45:59 +0000
In 2005, my husband and I bought an old house in the center of Guanajuato, Mexico. I wrote a post about it for Get Rich Slowly at the time. The benefits — some of which we didn’t foresee when we bought the house — are many: having a stable investment during economic uncertainty in the U.S, especially the 2008 downturn; a potential future home if I’m widowed; enhanced fitness simply by walking everywhere; a community...(image)
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Tue, 20 Dec 2016 19:06:45 +0000
Side jobs are always a popular topic on Get Rich Slowly. Whether your goal is to boost savings, supplement retirement income or pay down debt faster, you are not alone in choosing to work nights, weekends or in-between other demands. This can mean Uber driving, dog walking, freelance writing, even assembling IKEA furniture for a fee, essentially wherever skills and interests intersect with demand for those services. The U.S. Bureau of Labor Statistics says about 20 million Americans...(image)
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Sun, 11 Dec 2016 23:26:53 +0000
Rising interest rates can mean many things for the U.S. economy, but one thing is always certain when it comes to homeowners: when rates go up, refinancing goes down. With the Federal Open Markets Committee — the 12-member group that helps decide monetary policy as part of the Federal Reserve — set to meet on Dec. 13 and 14, mortgage rates could be on track to do something they have rarely done in recent years, which is...(image)
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Tue, 06 Dec 2016 22:31:44 +0000
There is no shortage of retirement saving advice out there, but do you find it’s hard to find advice relevant to your situation when you need it? If so, this guide should help. Here are a couple of basic ground rules to this guide: This is not financial advice for the rich and famous. As much as financial professionals like to write about the more exotic vehicles and tactics out there, those things have no...(image)
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Thu, 01 Dec 2016 13:47:35 +0000
Most people hate to pay taxes. That’s not hard to understand. What is baffling is the length people will go to avoid taxes – sometimes, the cost of avoiding taxes exceeds the taxes themselves. The reason this happens is that for some people, all they have to hear is that a scheme will help them avoid taxes, and they are on board. Remember though, avoiding taxes should not be your ultimate goal. The idea is...(image)
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Fri, 18 Nov 2016 02:29:23 +0000
Thirty-year fixed mortgage rates have dropped from above 6 percent to below 4 percent. This has touched off an unprecedented refinancing opportunity for homeowners. However, unless they learn to take a broader view of refinancing, those homeowners may be missing out on the biggest money-saving opportunities. By now, home prices have recovered to levels higher than at any time other than the peak years of the housing bubble. Between that and the principal payments homeowners...(image)
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Thu, 17 Nov 2016 07:29:07 +0000
Small business owners have unique needs when it comes to their checking accounts. Here is a simple guide to understanding what features you need when it comes to small business checking accounts and exactly what you don’t. Getting started The first step is to think about what you will need the account for. Paying lots of vendors by check daily? Make sure you don’t get locked into an account with per-check fees. Unsure if you even...(image)
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Tue, 15 Nov 2016 14:40:09 +0000
You’ve got the crib. The baby monitor. The stroller. The highest-rated-for-safety car seat. You’ve thought of everything for that newest member of your family. Or have you? What about your baby’s financial future? Related >> Household Budgets for Beginners: Simple Tips for Success What kind of account should you open for your child, and when should you do it? According to financial planning experts, it is never too soon to set up a savings account for...(image)
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Mon, 14 Nov 2016 22:27:42 +0000
According to a recent consumer survey, most Americans have very little — if anything at all — saved for retirement. Fifty-six percent of Americans have less than $10,000 earmarked for retirement, which is not even enough to cover a year of day-to-day living expenses for most people. This is echoed by a survey Get Rich Slowly did with Experian earlier this year. In that national survey, 71 percent of Americans felt they weren’t saving nearly...(image)
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Mon, 14 Nov 2016 18:54:41 +0000
In the old days you had to wait to get that monthly statement from your financial institution to see how much money you had coming in, and how much money turned around and went out. Today all that information is on-demand and contained within your smartphone — but which apps are best to manage all that data? In this installment of our ongoing series: the best budget apps, we check out Mint. App Overview Mint is a...(image)
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Wed, 09 Nov 2016 18:35:34 +0000
A Spousal Individual Retirement Account (IRA) is a special type of IRA that is designed to benefit a non-working spouse and allows a married couple to each have an IRA to help fund their retirement. Internal Revenue Service rules require that you earn taxable compensation from work in order to have an IRA. The IRS defines “compensation” as income generated from a wage, salary, commission or self-employment. It also counts alimony, separate maintenance and tax-exempt...(image)
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Tue, 08 Nov 2016 23:35:54 +0000
We all know we should make and stick to a household budget if we want to be able to sock away savings each month—and end up financially comfortable. But building a household budget as a beginner can be daunting. Only one in three Americans takes the time to create a monthly budget, a recent Gallup poll showed. (I don’t need to tell you the rest of us are spending an inordinate amount of time looking...(image)
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Tue, 08 Nov 2016 23:17:21 +0000
A lot of things change as you start to rise up the income ladder. Most of them are good – the old junker is replaced with a comfortable new car, the apartment becomes a house, you order steak instead of a hamburger. At the same time, managing your money becomes more complicated. Savings strategies for high-net worth individuals can be different. Recognizing how that game changes as you start to earn more will help you...(image)
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Tue, 08 Nov 2016 23:06:56 +0000
Living paycheck to paycheck is never easy, but it doesn’t have to mean you can’t save for the future. Everyone needs a savings nest egg or emergency fund. The solution is to get prepared now, no matter what it takes. (And know that you aren’t alone! One study by the Federal Reserve found that most Americans have $400 or less in cash savings.) Let’s start with one straightforward and relatively simple savings goal: setting aside...(image)
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Tue, 08 Nov 2016 22:54:55 +0000
There are investors and there are savers. If you fall into the category of the former, you have a greater tolerance for risk. If you are a saver, your main financial concern is to protect your principal, which leads many to certificates of deposit. But how to find the best CD terms? Let’s start at the beginning. The goal of a CD is to ensure the principal can be spared no matter what happens in...(image)
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Tue, 08 Nov 2016 20:52:52 +0000
Many people have heard of CDs — certificates of deposit. But not many will say the same for market linked CDs, also known as equity CDs or market or indexed CDs. Though they’ve been around since the 1980s, renewed interest in market-linked CDs is a product of our current interest rate environment. Interest rates are low. Really low. So it’s understandable that people are looking for some risk-free or lower risk ways to earn the...(image)
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Mon, 07 Nov 2016 13:25:38 +0000
Technology has given consumers unprecedented access to shopping opportunities — you can shop, literally, morning, noon and night. From your phone or tablet. Debit, credit, store cards, gift cards…the list is endless. There probably has never been a tougher time to resist the temptation to overspend. A few impulsive clicks and your carefully crafted monthly budget is kaput. So it’s no wonder our personal finance experts get this question all the time — how can...(image)
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Fri, 04 Nov 2016 11:50:33 +0000
Savvy savers open Individual Retirement Accounts for themselves to ensure that their golden years will be enjoyable and not fraught with financial worry. But what if you die before you reach retirement? What happens to your IRA? What to do if you inherit an IRA? First things first: When you open your IRA account, you will fill out a form listing beneficiaries. It is important to keep this form up to date throughout your working...(image)
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Wed, 02 Nov 2016 20:18:40 +0000
A little known tax credit can help you save for retirement, even if you feel you don’t have the money to do so. The formal name is the Retirement Savings Contributions Credit. Most people, however, know it simply as the Saver’s Credit, a two-timing savings strategy that reduces taxes and increases retirement. By the numbers, here is how the Saver’s Credit works: Let’s say you pay yourself $2,000 in a qualified retirement plan, such as...(image)
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Wed, 02 Nov 2016 01:36:39 +0000
Sometimes you need extra income in order to meet unexpected expenses or to save for a major purchase or goal. With the rise of the sharing economy it is easier than ever to latch onto short-term gigs, especially if you have a strong Internet connection and some idle time. If this sounds like something you’ve done or are considering — you have plenty of company. A new study by the Brookings Institution showed a “surge” —...(image)
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Wed, 02 Nov 2016 00:17:47 +0000
Experience is a great teacher for investors, but it can also be a very expensive way to learn. Rather than learning by trial and error, reading up on basic investment topics is a more cost-effective way to start, because it allows you to benefit from the experience of others. The following are six of the best investing books for beginners that can help you make an informed start: 1. One Year to an Organized Financial...(image)
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Tue, 01 Nov 2016 22:55:38 +0000
“Got any investment tips?” It’s a common question, but there is no one answer to it. The right investment decision depends on the circumstances, and circumstances change over time. For example, the right way to invest can vary depending on how much money you have available. To look at how the size of the investment should guide your approach, consider the different actions you might take with $1,000, $10,000, or $100,000 to invest. How to...(image)
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Tue, 01 Nov 2016 17:35:38 +0000
As far as money apps go, BillTracker is less about budgeting and more about reminding. So for anyone who’s ever been hit with a late fee for being a day or two late, the app is a valuable tool to help you stay current on all your bills, which ultimately may improve your credit. Here’s our review: What I Like The user interface is simple and easy to use. Hit the “Accounts” tab in the...(image)
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Fri, 28 Oct 2016 21:04:25 +0000
There are times in everyone’s life where you live paycheck to paycheck — college student, young professional, recently divorced, on the heels of unemployment. It’s during these times that we are most cost-conscious, yet we can still struggle to track where and how every penny is spent. In our ongoing series to find the best budget apps around, we take a look at Level Money, an app that analyzes your balances and bills due to generate...(image)
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Tue, 25 Oct 2016 23:21:12 +0000
With more than 20 million students enrolled in colleges and universities and with the average cost of a four-year degree at nearly $10,000 per year (triple that number for a private institution), scores of Americans will realize now or later that higher education comes with serious financial implications — for them and their parents. Many students will finance their education with student loans. The average 2016 college graduate has more than $37,000 in loan debt, but there...(image)
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Tue, 25 Oct 2016 17:00:53 +0000
Investing can be intimidating, but it doesn’t have to be. The key is to get a few basic concepts down first and then set clear goals for your money. Then it’s a matter of determining which tools will be best for the job at hand — do you want to be risk-averse, passive investor? Are you focusing on retirement and college savings at the same time? To the end, we’ve gathered all the basics in...(image)
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