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

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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!

Post-Grad Financial Tips From a Post-Grad Who’s Been There

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Graduating from college is wonderful and absolutely terrifying at the same time. You leave a safe place (for most) and move on to the "real world" only to find out that there is so much more to graduation than your professors led on. And your friends? They are all over the place. Some have jobs, some go to graduate school, some go home.

And after four years of "being on your own" you would think you would have that all down pat, only to learn that you have more bills, more responsibilities, and you have to find someone to live that all out with. The financial aspect of living on your own is daunting and it can be hard to get your budget in focus when you are trying to keep saving for your loans.

It is very stressful. For most, post-grad finances are a sore subject because this is most everyone's first exposure to paying for everything yourself. Having graduated a year ago, I can say that right now I am finally getting a hold of my finances, and that is after trying to find a permanent full time job for six months.

Some tips I have learned in my year after graduation are:

1.) Keep putting money into your savings account. If you don't have one of those, get one. Saving money is never a bad thing. If anything happens (i.e. your temp job ends, you get laid-off due to budget cuts, you can't find a job) you will have a cushion to fall back on while you are getting back on your feet.

2.) Make a budget for yourself so that you know how much of your money will go towards bills, and how much can go towards savings, grad school, and fun stuff. It is never a bad idea to make a budget.

3.) Admit when you need help. There is nothing worse than realizing you have no more money and you don't know what to do. Admit to yourself that there needs to be a change in order for you to keep going on your own. If you are in search of a job and aren't having much luck, set a "Drop Dead" date. This date will be your goal to get a job and the deadline before moving home. Trust me, the "Drop Dead" date worked for me, and now I have a full time job!

Do not be afraid of life after graduation, because it really is a wonderful experience, even when it doesn't seem like it. Once you get on your feet and start making money, saving will be a lot easier and a lot more fun.

For more information on how to survive post-grad, check out this article by Forbes:

http://www.forbes.com/sites/laurashin/2013/06/12/new-grads-heres-how-to-spend-your-money-every-month/?utm_campaign=forbestwittersf&utm_source=twitter&utm_medium=social

Comment with any suggestions you have about how to be smart with your finances after graduation!