Savings in Retirement

retirement

It is never too late to start saving money. Whether is it for a house, car, or retirement, it is always a good idea to have money saved away for the big things and so that you feel comfortable making these big steps.

I feel as though the biggest thing to save for, and to start saving for right away, is retirement. Everyone wants a good retirement that is financially stress-free and that they do not need to worry if they spend a little too much on their grandkids. And the only sort of work anyone wants to do during retirement is usually just to keep themselves busy and is not considered much of an income. When you retire, you want to have enough money saved that you do not need to have a little part-time job on the side to keep you afloat; you want to enjoy your well-earned time!

You want to start saving for your retirement as soon as you can. Right out of college, you can put away a portion of your paycheck to retirement every week to slowly, but surely, build up a hefty retirement fund for yourself. Do some research on different kinds of accounts that you can put your money into so that you can build a good amount of interest as well. You would be amazed at how much you can save when you commit to putting “X” amount in every month for a long time. And as you get older and get paid more, you can put away more.

Many times, people will need money or they want to buy something (maybe a car, home, debt, etc.) and they will possibly take money out of their retirement fund to use towards this thing. Restrain yourself! Remember that that money is for your long term gain. And if you are willing to dip into that fund once, who says you won’t try it again? Keep that money under lock and key until you have retired and need the income. If you don’t, you are only hurting yourself and your time.

The last thing you want to be doing with your retirement and your retirement money, is using it to pay off debt. Make sure that all of your debts are paid so that debt is not a concern for you. And keep yourself out of debt by budgeting with the retirement money that you have acquired. Make sure that you have enough to possibly surpass the age you expect to live. Debt is only going to hinder you from relaxing and enjoying your time.

What are your tips for saving for retirement? If you are already retired, what strategies did you use to save enough money for your retirement? Comment below!

http://www.marketwatch.com/story/stop-worrying-and-start-saving-2013-08-01?link=sfmw

The Rising Tyrant of Student Loans

loans

Parents, grandparents, and especially college students know that education is not cheap. With loans piling higher and higher for college grads, the stress of paying back that money is extremely daunting for students. Having recently graduated college, I have paid off some of my loans, but still have a long way to go, despite having much less debt than friends of mine. Other people I know have around $100,000 worth of debt, and that is no exaggeration.

This article by Business Insider can help you learn some tips on how to avoid some of that debt. It is not a bad thing to have some debt, but loans add up, and families need to talk to each other about finances so that a student is getting an education without also tacking on a lifetime of debt.

http://www.businessinsider.com/the-real-problem-with-student-loan-rates-2013-7

How have you lessened you college debt? What tips do you have for recent and to-be grads?

Credit Cards vs. Cash

Here is an interesting article by the Atlantic about how credit cards are making us less responsible. I think we can all agree with that fact, as most of us have a credit card. We shop for things and spend more than we can afford because we don’t have to be mindful of our cash. This is another reason to use cash and to limit the number of credit cards you have.

http://www.businessinsider.com/credit-cards-are-making-you-a-bad-person-2013-6What is your take on this article? Do you agree or do you find credit cards make you more financially responsible? Comment below!