by Karla Dennis | Dec 7, 2015 | Blog
You worked hard, made some sacrifices, and saved up so you could retire comfortably. This doesn’t mean financial planning stops now. It’s important to actively manage your portfolio and maybe re-balance your investments occasionally to make your money last throughout your retirement. There are two important questions to ask yourself to determine the best approach to managing your money after retirement: How can you invest your money while avoiding risks? How much can you afford to withdraw to live comfortably without running out of money? Start by establishing a budget. Make a list of all your monthly expenses to get an idea of how much you will have to withdraw from your portfolio. read...
by Karla Dennis | Dec 5, 2015 | Blog
Entrepreneurs aren’t limited by age, and you can start a successful business at any stage of your life. However, becoming an entrepreneur later in life has its own unique challenges. Consider these tips for starting a business as a senior: Avoid allowing others to limit your goals. As you get older, you may have more people in your life who try to persuade you away from the entrepreneur lifestyle. Your family and friends may have good intentions, but they can also limit your dreams. They may remind you that it’s more difficult to start a new business as you get older because you have other responsibilities. Children, aging parents, and others can take up a lot of your time and present challenges when starting a business. However, knowing that these challenges exist can also help you make contingency plans for when time is tight. Ignore your age. Dreams don’t have expiration dates, and entrepreneurs don’t have age limits. As they say, “you’re only as old as you feel.” So if you feel like taking on the rigors of starting a new business, let your age be the last thing on your mind as you move forward with your business plans. Be open to learning from others....
by Karla Dennis | Nov 30, 2015 | Blog
As cyber criminals begin to take advantage of the holiday season, it’s important to take extra precautions to avoid having your money, credit card information, Social Security number, or identity stolen. E-commerce thieves, at this time of year especially, will try to create holiday related websites, scams, and other phishing email holiday scams that can trick even the most alert consumers. The following tips can help: Don’t let your generosity leave you vulnerable to criminals. Many cyber criminal holiday scams want to take advantage of your generosity by sending emails that appear to be from legitimate charitable organizations. Do not click on links in any such email – instead, go directly to the websites of charities that you know and trust to make a legitimate online donation. read...
by Karla Dennis | Nov 15, 2015 | Blog
Millennials are less interested in money and finances than any previous generation. Even so, it’s still important for Millennials to take steps to avoid the common financial mistakes committed by younger folks. Placing too much emphasis on financial wealth can be a shallow way to live, but having financial challenges isn’t a lot of fun either. Avoid the common mistakes of Millennials that can derail your financial future: Waiting to get started saving. Sure, you want a new car or a big screen television instead. However, if you take the time to do the math, it’s obvious that the most important part of saving is getting started now. Every seven years that you delay cuts your retirement nest egg in half. Failing to take advantage of full matching in your 401(k). Your employer may give you free money for your 401(k). It’s crazy not to take full advantage of this generous offer. Get in the habit of saving by contributing to your 401(k) as soon as possible. Underestimating the value of a budget. No one enjoys making and sticking to a budget. But what happens when you don’t have a budget? You do whatever your emotions of the moment dictate. A budget keeps you grounded and on track. You’ll spend more than you should, and save less, if you don’t have a sensible budget in place. Ignoring the importance of an emergency fund. A single, unforeseen, financial mishap can derail the best of financial plans. For most Millennials, this will probably result from a major car repair or medical bill. Even with health insurance, the deductible can set you...
by Karla Dennis | Nov 3, 2015 | Blog
Getting married is a happy and exciting time. One of the issues that can quickly put a damper on the positive energy, though, is money. Financial issues can create a lot of stress and even animosity. Ideally, you’ve already had a lot of communication regarding your finances. If you haven’t, a little prevention isn’t a bad idea. It can be much nicer to discuss the topic of money before it becomes necessary and tensions are high. Be proactive. Heed these helpful money tips for newlyweds: read...
