First Year of Retirement: 7 Money Moves You Absolutely Must Make
First Year of Retirement: 7 Money Moves You Absolutely Must Make
July 13, 2023 By Nicole Spector GoBankingRates
If you’re near retirement or fresh in it, it’s critical to understand how to manage your financial life, and how it differs from when you were making a salary. To do this, you should make these seven money moves in your first year of retirement — per the suggestions of experts.
Start Tracking Your Expenses
Hopefully, you’ve already made a strict budget and have been tracking expenses leading up to your retirement. Now is the time to really pay attention.
The Math That Explains Why Lifestyle Inflation is a Wealth Killer
The Math That Explains Why Lifestyle Inflation is a Wealth Killer
Lifestyle Inflation Is A Wealth Killer By Zach January 24 2019 Four Pillar Freedom
Investopedia defines lifestyle inflation as:
Lifestyle inflation refers to increasing one’s spending when income goes up. Lifestyle inflation tends to continue each time someone gets a raise, making it perpetually difficult to get out of debt, save for retirement or meet other big-picture financial goals. Lifestyle inflation is what causes people to get stuck in the rat race of working just to pay the bills.
Two of the most common reasons for lifestyle inflation include:
4 Best Money Lessons From Elon Musk
4 Best Money Lessons From Elon Musk
July 10, 2023 By Yaёl Bizouati-Kennedy
Paris: 2023 Elon Musk Vivatech, France - 16 Jun 2023JEANNE ACCORSINI / SIPA / Shutterstock.com
Elon Musk — still the world’s richest man, with a $243 billion net worth as of July 10, according to the Bloomberg Billionaires Index — is at the helm of several companies. From Tesla to SpaceX, and from Neuralink to The Boring Company — and most recently, Twitter — Musk is no stranger to controversy and is known for speaking his mind. Not everything Elon Musk has done, financially speaking, has been exemplary. However, Musk’s best money moves are at the center of many commentaries, however, and four follow.
8 Ways To Alleviate Your Retirement Anxiety by Fixing Your Finances
8 Ways To Alleviate Your Retirement Anxiety by Fixing Your Finances
Cameron Huddleston Fri, July 21, 2023
If you’re stressed about your retirement plans, it’s probably for a good reason. With economic uncertainty, rising living costs and the ever-changing landscape of retirement benefits, ensuring a comfortable and secure future can feel overwhelming. If you’ve woken up in the middle of the night thinking about your finances, you’re not alone. A recent survey conducted by Allianz Life Insurance found that “61% of Americans say they are more afraid of running out of money than they are of death.”
7 Costliest Mistakes People Make When Planning Vacations
I’m a Travel Agent: 7 Costliest Mistakes People Make When Planning Vacations
June 5, 2023 By Jacob Wade
It’s vacation season!
With summer in full swing for most of the U.S., you might be putting the finishing touches on your vacation plans. Or you might be planning a winter getaway for later this year. Either way, before you take off on an epic road trip or fly to a desirable destination for some rest and relaxation, you might want to make sure you avoid making these massive travel mistakes.
We tapped Greg Johnson — expert world traveler, travel blogger at ClubThrifty.com and owner of Travel Blue Book Travel Agency — to share his insights on the costliest mistakes travelers make when planning vacations.
Fed Launches New Payments System That Lets You Send Money In Seconds
Fed Launches New Payments System That Lets You Send Money In Seconds
Jennifer Schonberger·Senior Reporter Thu, July 20, 2023
The Federal Reserve Thursday officially launched its long-awaited instant payment service FedNow, which allows consumers and businesses to send and receive money in seconds. The system lets Americans pay for groceries instantly, businesses pay their suppliers, or people pay each other. It will be available 24 hours a day, every day of the year, with full access to funds immediately.
FedNow isn’t offered directly to individuals and businesses, but it will serve as the basis of infrastructure for instant payments by linking banks. Transactions occur between bank accounts and enable funds to be transferred from a sender’s bank account to a receiver’s bank account immediately.
The Economics of Happiness By John Robbins of Baskin-Robbins
The Economics of Happiness By John Robbins of Baskin-Robbins
Research is clear: Money doesn’t buy happiness, reports best-selling author John Robbins. So why do we continue to think that it does?
By John Robbins of Baskin-Robbins JULY 20, 2010
When I was 21, I told my father that I didn’t want to work with him any longer at the ice cream company he co-founded, Baskin-Robbins, and I didn’t want to depend on his financial achievements. I did not want to have a trust fund or any other access to or dependence on his money. I wanted to discover and live my own values, and I knew that I wasn’t strong enough to do that if I remained tethered, even a little, to my father’s fortune.
If You Aren’t Saving for These 7 Things, You Will Regret It
If You Aren’t Saving for These 7 Things, You Will Regret It
Andrew Lisa Thu, July 20, 2023
Whether they do it or not, everyone knows they’re supposed to save money. But it’s easier to squirrel away cash when you know what you’re saving it for. The terms “savings” and even “emergency fund” are too broad to count as achievable goals. The trick is to segment your savings targets into individual must-have pots of money on the side.
These are the things to save for today so you’re not stuck wishing you had tomorrow.
Vacations — Or Your Little Luxury of Choice First, focus on the truly important stuff and dedicate at least some of your savings to the things that make life worth living.
If Money Could Talk
If Money Could Talk
By Greg Habstritt
A Powerful Perspective You’ve Never Heard Before – "If Money Could Talk"
Most people think they know me. They don’t.
I am not what most people think I am. I am not the paper in your wallet, or the coins that jingle in your purse. I am not quietly sitting in your bank account, hoping to be used one day.
You cannot see me, feel me or touch me. I am an idea. I am energy.
I’m neither good nor evil. I am only what you decide that I am, and I fulfill the role that you create for me.
How Does Valuing Money Affect Your Happiness?
How Does Valuing Money Affect Your Happiness?
Two new studies find that tying your self-worth to financial success hampers happiness and well-being—even for the well-off.
By Jill Suttie
It may seem that money is a sure path to prestige and happiness. After all, many of our most well-paid citizens are held up as role models of success, leading seemingly perfect, enviable lives. Still, some people embrace the opposite idea: Money can’t buy you happiness. So, which of these is right?
In recent studies, scientists have found that the connection between wealth and well-being is not clear-cut. While some studies seem to tie wealth to well-being, others show that, after a certain point, a higher income will not bring more happiness or life satisfaction.
Here’s Why “Plan A” Really Stinks
Here’s Why “Plan A” Really Stinks
Notes From the Field By Simon Black Sovereign Man July 18, 2023
The legendary walls of Constantinople were supposed to have been impenetrable. At least, that’s what the citizens thought. But shortly after midnight on Tuesday, May 29, 1453, they watched in horror as Turkmen mercenaries from the Ottoman Empire breached a section of the walls that had stood proudly for more than 1,000 years. The city fell hours later.
Ottoman soldiers looted and pillaged Constantinople with such barbarous ferocity that their ruler, Mehmed II, was said to have wept when he inspected the city three days later, remarking, “What a city we have given over to plunder and destruction.”