As some of the pandemic restrictions are slowly lifting you can feel a big shared sign of relief.
As people slowly return to some of their regular activities (even though modified either through social distancing or wearing of masks), it would be a shame if we didn’t look for some lessons that we may have learned during this experience.
Here are five retirement planning mistakes and how to deal with them, courtesy of ColoradoSpringsOver50.com.
1 – Be careful in putting all your investments (nest egg) in one basket
A planned well-diversified portfolio facilitates positive performance of some investments and can balance out poor performance of others investments. The mix of investments in different asset classes (e.g., stocks, bonds, real estate) help keep your retirement goals on track even when one investment goes through and downsizing period. (more…)
Yes, I know that “unscared” is not a real word – but it fits the purpose of this article – especially if you happen to be scared about retirement. Let’s face it, while retirement can be exciting, it can also be a bit daunting, with some unique challenges and pitfalls to avoid. Here are a few reasons why you might be legitimately scared about retirement, along with potential solutions. (more…)
Note: we are happy to bring you this article because it showcases the types of issues many couples face when planning their retirement dates. You can find many more articles from Brian Jones at https://brianjonesdiary.com/.
Reconciling our retirement dates and dreams
My wife dropped the bombshell last night that she was considering putting off her retirement to “somewhere between 60 and 65”. (more…)
Home financing options and mortgage terminology can be confusing. Plus, people’s home financing needs change with age and vary in different stages of life. Understanding retirement home equity is an important key to finding financial success in retirement.
Equity is the portion of your home’s value minus the mortgage balance that you accrue over time. When you get a home loan, the bank owns the majority of the home and they charge interest to borrow that money. (more…)
A personal financial balance sheet shows you a snapshot of your financial health: how much money and assets you have, how much debt and liabilities you have, and what your net worth is when you subtract your liabilities from your assets.
Unlike a budget where you track how much money is coming in as income and how much money is going out as expenses, a balance sheet tracks how much you have at a fixed point in time. Even businesses, the government, and non-profits use a balance sheet to measure their financial strength. (more…)