All reports point to a 100% mortality rate for humans. Talking about death is uncomfortable for many. It’s difficult to contemplate your own death, and difficult to think about others living on for decades without you. It is a tough topic, but here are the stats: 80% of men die married. 80% of women die single. The average age of widowhood in the US is 59. (this is not a typo) Women typically live 14 years longer than their spouse. If you are married and not up to speed on your finances, make 2020 the year to educate yourself! Start by asking the following questions: What do we own? All bank accounts, …
Good News for Savers in 2020!
2020 is nearly upon us and with it comes higher employee contribution limits for 401k plans. Of course, not everybody is in a position to contribute the max. But no matter how much you are contributing now, I encourage you to increase it for 2020. If you are contributing nothing right now – start with 1% of salary. If your employer matches your contribution, try to capture the entire match. That match is part of your total compensation package – don’t leave your employer dollars on the table! Every time you get a raise – earmark some of it for increased savings. Your balance will seem puny. It will go down when the market does. Then you are buying stocks on …
Just Because you have a Coupon Doesn’t Mean you Should Go Shopping – and Other Useful Money Rules
When I tell people I am a financial advisor, they sometimes ask the inevitable question: “Do you have any hot stock tips?” The GI doctor about to do my screening colonoscopy asked me this while I was lying in the fetal position. Awkward! No, I do not have any stock tips – hot or cold. But I do have some important advice about achieving financial independence. It’s just five words. Are you ready? Recently a client brought me a book highlighting this advice. She was at an event and the AARP was giving free books to members. She knew I would like it, so she got one for me! I have the best clients. Thanks Anne M.! Money Rules – The Simple Path to Lifelong Security by Jean …
A Year Later- Micro Investing with Acorns
A year ago, I wrote about my lifelong passion (some would say obsession) for spare change. This dates back to counting the spare change and “egg money” in my grandmother’s chipped gravy boat in the 70’s and continues on today. But here in the 21st century we don’t have a lot of cash transactions, and therefore not a lot of spare change. Enter the micro investing app Acorns which invests your digital spare change. A year ago, I signed up for Acorns and linked my checking account. This is my “funding source”. Then I linked my credit card. You can link more than one card including debit cards. For every transaction on the linked card and the funding source, Acorns “rounds-up”. …
Good News for a Change – Prices at the Pump are Lower!
From the Wall Street Journal August 30th, 2019: Gas prices this past Labor Day were the lowest on the holiday in 3 years averaging $2.55/gallon nationally. According to AAA gas prices have remained steady. As of September 16th, 2019 the National average price is $2.56. State by state prices vary depending on taxes. Mississippi has the low of $2.18 and Hawaii has the high of $3.64 . You may not have noticed the lower prices. Take a look at your statements – has the price of a fill-up gone down? These extra dollars are easily lost to what I call the “vortex of spending” While you’re looking at your statements are there any recurring bills that you don’t use? The …
