The average individual only views financial planning through the lens of retirement. In reality, financial planning can help you meet a variety of monetary goals, not just your desire to live a comfortable life during retirement. Make no mistake, it is important to save for those years, but financial planning has the power to unlock more potential in your life as well.
Map Goals and Discover a Path to Success
Identity theft is a growing problem in America, and around the globe. Cyber criminals don't have to be near you physically or ever see you in person to steal your most important information, such as bank account numbers, Social Security numbers, and passwords. If you're going to fight back against identity theft, knowledge is your number-one weapon.
Understand the Tactic of Phishing
Numerous surveys and studies have found that money is the leading cause of stress for Americans. Given that money is a key component of establishing a secure life, it makes sense that financial challenges are associated with rising stress levels. However, it doesn’t have to be that way, and it shouldn’t. If you are part of the population who feels like they never have enough money, the following tips may prove helpful in building a better relationship with your finances to eliminate unnecessary stress in your life.
Log Your Account Activity
The cool fall breeze is in the air. The nighttime temperatures are dipping a little further every night. Right now, retailers are focusing on Thanksgiving, which rolls nicely into Christmas specials and door busters at stores around the country. As retailers think about the spending spree that accompanies the end of the 2015 calendar year, it's not a bad idea for you as an individual to start looking ahead to the year 2016. What things would you like to achieve in the future? What financial goals would you like to meet? Now's the time to set your S.M.A.R.T. goals for 2016.
The holiday season is just around the corner, and for many people that means months of overspending and years of debt. It does not have to be that way - with the right planning, preparation and some self-control, you can enjoy a generous and bountiful holiday season without getting buried under a mountain of credit card debt.
This year is quickly approaching its end, and the time we have to get all of our financial ducks in a row is running out. While filing end of the year taxes may seem like one of the most daunting tasks to tackle, there are several things you can do to prepare. Then, when it comes time to see a financial professional, you are already ahead of the game.
Standard vs. Itemized Deductions
The most significant contributing factor to the Great Recession in the American economy was the collapse of the housing market. Questionable lending tactics during the early 21st century and dangerous adjustable-rate mortgages (ARMs) led to an economic bubble bursting. Homeowners suddenly were unable to afford mortgage payments that had jumped with rate hikes, and the value of homes plummeted.
Perhaps the two greatest financial goals of adults with families are comfortably retiring and confidently sending their children to college. Guiding your children into adulthood and relaxing after they’ve flown the coop are major life events that should be reflected upon with joy and happiness. However, allocating funds for both at the same time can easily cause financial stress and fear. The good news is there are expert tips that make fulfilling such lifetime goals far from an intimidating experience.
Your Retirement Should be the Priority
Whether you realize it or not, retirement is not actually the end of the rat race in life. Yes, you've worked for decades to support yourself, raise a family, provide for others, and reach your goal of walking away from the workforce and basking in the glow of your retirement funds. While many people view retirement as crossing the finish line, it is actually an event that takes place in different stages. The following stages are experienced by retirees on both a physical and mental level, and represent the major stages of life after you leave the workforce.
The concept of retirement is a young ideal in the history of mankind. Throughout most of human history, people continued working or remained with their family as they aged. It wasn't that long ago that the Golden Years of life were characterized by part-time jobs and taking up residence with grown children. If you want to maintain your independence and enjoy your Golden Years, responsible financial planning is a must.