Is a Lump Sum or Annual Payout Smarter?

August 31, 2023 By Nicole Spector

Lottery Winners Could ‘Make Bad Decisions,’ Says Financial Advisor — Is a Lump Sum or Annual Payout Smarter?

Lottery jackpots can reach epic heights. Case in point: the Mega Millions jackpot that surpassed $1.2 billion after the Tues, August 1 drawing. Someone (or some people) will win eventually, and the burning question for them will be, “What will you do with the money?“

Experts: Why Your Money Is Not Safe in Your Home or These 4 Other Places

Casey Bond  Thu, August 31, 2023

After battling inflation, rising interest rates, and a volatile stock market over the past couple of years, you may be worried about preserving your hard-earned money. Where can you stash cash and rest assured that it’s safe?

We reached out to a few experts and got their opinions on the worst places to keep your money–and where to put it instead. Find out if your cash could be at risk.

4 Steps to Make Your Money Last a Lifetime

By Jane Bryant Quinn, AARP Bulletin

A simple, easy-to-use formula to make sure you never run out of cash

As a financial columnist, I get asked the same heartfelt question over and over: “How do I make sure I don’t outlive my money?” And that makes sense. Surveys confirm that the No. 1 worry among older Americans is running out of cash.

 Fortunately, financial planners have come up with sound ways to prevent this. Collected here are their key rules for maintaining a livable income for life, plus case studies that show how to put these general rules into action. The goal is your peace of mind — knowing that you’re getting the most from the money you’ve saved and that you’ll always have enough.

Asset Management Vs. Wealth Management

Jordan Tarver  Editor

It’s safe to say that from time to time, everyone could use help managing their money. But while many people can get by with limited assistance, some may benefit from a hands-on approach.

People with high net worths—in the millions or approaching it—may want to work with an asset or wealth management firm. We’ll help you determine which type of professional help is right for you.

What Is Asset Management?

9 Biggest Mistakes High Income/High Net Worth Millennials Make

Thomas Kopelman / August 2, 2023

We often associate wealth with financial expertise, but this could not be further from the truth. High net worth people are not immune to making mistakes. In fact, they make just as many mistakes, if not more than everyone else.  And the worst part about it is that these mistakes they make can be even more costly due to higher dollar amounts behind the mistakes.

Let me help you avoid this by walking you through 9 of the most common mistakes I see high net worth millennials make.

Dave Ramsey Says Stay Away From People and Places That Break Your Budget

Heather Taylor   Sat, August 26, 2023

Are you ever in a situation where you feel tempted to break your budget? Maybe it’s dinner out with friends or shopping at a store you haven’t been to in a while. Even though you’re on a budget, can it really hurt to buy something you like or order a more expensive entrée to treat yourself?

All of these treats can and do add up quickly. Money expert Dave Ramsey shared his recommendation on X, formerly known as Twitter, to stay away from people and places where you feel tempted to break your budget.

The No. 1 Mistake People Make With Their Money

By Charlene Oldham  GoBankingRates

Financial gurus Warren Buffett, Suze Orman, Tony Robbins and Dave Ramsey boast net worth figures in the millions — or, in Buffett’s case, billions. Many of their followers can only dream of becoming multimillionaires or billionaires. However, each money expert offers plenty of practical advice the average Joe or Jane can follow to clean up their spending, savings and investment habits, and retire rich.

Here are seven pitfalls to avoid, along with money management tips from Buffett, Orman, Ramsey, Robbins and other financial experts that almost anyone can implement, regardless of their current bank balance.

7 Frugal Living Tips To Help You Save Money

February 14, 2023 By Andrea Norris

Has your budget gotten too tight for comfort? Cutting expenses and living on less may feel overwhelming, but some simple, frugal tips can help you painlessly trim the budget and save money.

Frugal Tips for Saving Money

Here is a look at some top tips that frugal people often use to live comfortably on less.

Never pay full price.   Watch the cost of convenience.   Waste less.   Use less.   Practice self-sufficiency.

Buy in bulk.  Make things last.

What Happens If My Bank Account Becomes Dormant?

Rebecca Lake, CEPF®  Sun, August 27, 2023

Using multiple bank accounts can be a good way to separate funds for different financial goals. However, if you forget about one of those accounts it could end up falling dormant. A dormant bank account is an account that registers no financial activity for an extended period of time. The amount of time that it takes for a bank account to be considered dormant can depend on the bank.

For help with your own banking needs, consider working with a financial advisor.

What We Lose

Jonathan Clements  | HumbleDollar  Aug 26, 2023

WHEN WE RETIRE, we win back control over our daily life. Gone is the boss, the expectation that we’ll be at work at a certain hour, the worry about what the next office email will bring. We have a degree of freedom that, in many cases, we last knew when we were students contemplating a long summer vacation.

But even as we gain that freedom, there’s also much that we lose. If we’re to be happy retirees, we need to think hard about how we’ll cope with these losses. For some, what’s lost won’t seem all that bad. But for me—someone for whom work has been so central to my life—the seven losses below loom large.

6 Ways To Become Rich on an Average Salary

Sean Bryant   Fri, August 25, 2023

Are you ready to take control of your finances and reach financial success? It’s not as complicated as you think, even with an average salary. Becoming rich is achievable when you commit to making smart money moves and have the right financial strategies.

In this article, we’ll discuss some of the best things you can do to grow your wealth even with an average salary.