@herfirst100k is inspiring me to talk about money more so here’s the truth: I have over $100k in retirement. I could put $0 in for the rest of my life and still retire with about $700k 😱 This isn’t talked about AT ALL in the creative world. Literally no educator I know has ever even mentioned retirement planning - so I’m gonna.
These slides are an overview of FAQs and sample calculations on the last couple slides (wanna know how to get to $1m? Keep swiping).
As you’ll see at the end - the AMOUNT you contribute isn’t quite as important as just getting started earlier. TIME is your best friend when it comes to retirement investment so start now, even if it feels small. Even if it’s only $10 a month. How can you get a few more $$$ to invest? Grab Power in Pricing before the end of the week to learn how to up your pricing! An extra $10 a job in retirement will put you in a great place for the future!
So many people say they’ll start contributing when x, y, or z happens - if this is you, you’re throwing away free money. Plus, I’ll argue that your life is never going to be LESS expensive than it is today. Get used to investing in your future today. Chances are you’re going to need to live at least 20 years after you start spending your retirement - how much will you need to make those 20 years comfortable?
If you’re still at a “normal” job - max out your match from your employer if they have one! That’s ~literally~ free money and will give you a head start if you ever quit and take your business full time.
What do I do? I have a traditional IRA with @fidelity and every year around tax time I send in $5,500 for the previous year’s returns. That’s not always the right decision for everyone - but if you walk away from this post with one action item, it’s this: START TODAY.
As the get closer and closer to week 52 we are also entering the season where more holidays and birthdays are coming around. Which is resulting in more spending for me 🥴. I am trying to find a balance to stay in line the challenges.
The strategy that seems to work for me is to save/invest a little extra each week to give myself a boost and allow myself a bit more flexibility in my finances. Each week I save/invest anywhere from $40-$50 extra.
Staying dedicated to this challenge is a bit challenge during the second half of the year but it isn’t impossible, I have to personally tighten a few loose ends and I should be able to complete this challenge without falling behind or without meeting my expectations.
So I need all the motivation I can get this year. I have been wanted to track my goals. I know it will help keep me going. I love that feeling of accomplishment. I did something for myself. To the benefit of myself or others.
I know its not crazy fancy. It super simple but I think it will do the trick. Can you tell I'm not super artsy. Maybe I will add some stickers.
Having all of you helping me to keep myself accountable and me seeing my wins on paper. (Right now I need little wins.)
Its just a matter of setting the goal.
If I don't complete one that's ok keep moving forward but I won't just stop trying.
Beslenme, hastalıklarla savaşmaya ve yaşamamızın her aşamasında vücudumuzun savunmasını aktive etmede kritik bir rol oynar. Şimdiye kadar öğrendiklerimizle Coronavirüs'ün en baskın özelliklerine aşinayız.
Şehirler, ülkeler kısıtlamaları açmaya ve gevşeme başladıkça, vücudumuzu virüse karşı korumak için, aşı çıkana kadar maske takma, sosyal izolasyon ve ellerimizi yıkama çok çok önemlidir🌟🌟
Bağışıklık sisteminizi gıda yoluyla arttırmak odaklanabileceğimiz en güçlü şeylerden biridir.
🌟🌟🌟Bol bol tüketip bağışıklığımızı yükseltebileceğimiz gıdalar:
🍇Böğürtlen, Harika bir C Vitamini ve diyet lifi kaynağıdır.
Great morning lovelies. Let’s do this! You down for it? Day 5: Review your Income. When we sit down and look at our income not just monthly but quarterly, year to date, and annually, it can really put things to perspective.
Questions to ask yourself:
📌Do you earn enough?
📌Do you have earning requirements for yourself?
📌Looking at all sources of income, do it meet your earning goals?
📌Do you have earning goals?
📌If you have a business do you pay yourself a salary from your business?
It’s so important to sit down and review your income. Reviewing your income will help you determine your DTI ratio which is an essential measure of financial security. If all your money is going towards debt, the DTI is probably to high. This will allow you to re-evaluate your income. Create a plan to maximize your income.
Steps to take:
✨List your current income.
✨Have you had a change in income.
✨How much do you need to earn.
✨What is your income goals.
Reviewing your income will help you with your next steps, if you need to earn more based on your income goals it will help you create a plan to negotiate your salary. If you want to earn more it will help you position for a side gig. Write down your income goals, the specific amount. You can’t reach that income level if you don’t know what you teaching towards.
Reviewing your income will help you work towards your overall income goals, having a goal is important. This is a great time to review where you are and work towards where you want to be! Swipe to see some things to do to increase your income on the side.
✨Bonus: Virtual Event Planning✨
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Click the 🔗in bio and download the Free Financial Wellness Checklist
14 912 minutes ago
⚪ Understanding how you perceive risk – and how this changes over time – can help in navigating today’s retirement landscape.
⚪ It has long been accepted that we become more risk-averse as we get older – we’re less likely to put ourselves in the way of possible harm. This tends to be attributed to experience, and the idea that with age comes wisdom. But it may be more complicated than that.
⚪ It’s important to distinguish between risk tolerance – our willingness to take risk – and risk capacity, which is more about the risk we can afford to take.
⚪ The retirement landscape can be a complex one to navigate, particularly as we’re living longer. Plotting a successful path through a retirement that could last for three decades or more requires an understanding of the risks we’ll face and how our relationship with risk changes over time.
Read the full article here 👉 https://www.sjpinsights.co.uk/article/how-does-your-risk-tolerance-change-in-retirement/altonwealth
Whole life insurance has several benefits. There is a guaranteed savings account (also known as cash value). Whole life also provides long-term death benefit protection.
We can help you understand how Whole Life works and if it makes sense for you or not. Definitely, not for everyone and it’s ok to be skeptical of an insurance advisor pushing such product without helping you understand your other insurance needs.
That being said, this skepticism has had a negative impact to the market as well. Some can significantly benefit from such product, and their skepticism has prevented them from taking the time to learn how it all works.
When should you consider Whole Life?
- You are maxing out your TFSA and RRSP and looking for additional tax-free accumulation
- You are looking to fund tax liabilities, such as capital gains, upon death
- You are looking to reduce taxation and enhance your estate for your heirs
- You are looking to donate to a charity
- You are looking to leave a legacy and transfer wealth to the next generation
For more info please read the article on my Facebook and LinkedIn pages and visit secureplan.ca to get in touch.
Desde el próximo 4 de agosto, las empresas del sector salud estarán obligadas a implementar la facturación electrónica, un documento digital que soporta las transacciones de venta de bienes o servicios 🏥👈.
¿Piensas qué el adquirir una casa es muy complicado? ✨✨
Depende de que perspectiva lo mires, muchas de las personas que quieren adquirir su casa no son expertos en el tema y avces el crédito que adquieren no es su mejor opción.
Por eso esa dificultad la baja muchisimo tu asesor de crédito. ya que el como experto te ayuda a generar la opción perfecta para ti.
ACUDE CON LOS EXPERTOS
Cancelling a few subscriptions here and there is all well and good. But that extra few dollars in a single month isn't going to make BIG moves in terms of your net worth and wealth building potential.
Instead, if it's a goal of yours to build wealth, is to consider how you can possibly serve an ever increasing number of people with a product or service, and get billed in a fair exchange for your efforts. In other words, focus on income generating activities!
Reposted from @youngprofessionalinvestor via a post from @investingbros hits different...
A little bit of a different view of my 2020 HSA contributions.
The majority of the contributions come directly out of my paycheck but my company contributed a little bit in the beginning of the year as well. My employer contributes a set amount based on salary every January. This year my employer contribution was $600. Love that free money!!
Employer contributions to an HSA differ a little bit from employer contributions to your 401k. While employer contributions DO NOT count towards the yearly contribution limit for a 401k or Roth 401k they DO count towards the yearly HSA contribution limit. Keep that in mind!
This is my first year contributing to an HSA so I am looking forward to seeing the “total contributions” equal $7,100 at the end of the year😊
Does your employer contribute anything to your HSA?
Note: Both my husband and I are covered under my insurance so the HSA contribution limit is $7,100 for us. The contribution limit is lower for single coverage.
1 123 minutes ago
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Я переехала в Москву в 21 год и с тех пор если беру у мамы деньги, то только в долг. До этого возраста жила с родителями и зависела от них в финансовом плане.
Почти 5 лет я состою в отношениях.
Когда я встречалась с парнями, я никогда не проявляла инициативы заплатить за себя самостоятельно. Мге кажется, это оскорбляет мужчину, который пригласил тебя на свидание.
Когда вы живёте вместе, даже если деньги у вас не лежат в одной кубышки, не имеет особого значения кто заплатит, так или иначе, бюджет становится общим.
Но я за тот вариант, чтобы быт вести совместо, но у каждого были собственные финансы на хотелки😁
все свои банки я покупаю за свои деньги и путешествую тоже за свои.
Мне всегда нравилось работать и я не люблю быть ограничена в финансах и зависеть от кого-то. Но я научилась не зацикиваться на работе, карьере и тд.
Понимаю женщин, которые могут себе позволить не работать и нормально жить, мужчин не понимаю 😁
И не понимаю женщин, которые живут не очень, во всем отказывают себе, а работать не идут.
В следующем посте расскажу о месте, где сейчас работаю ☺️
Как вы считаете может ли не работать женщина? А мужчина? Должен ли мужчина зарабатывать больше женщины? В каком возрасте стыдно брать деньги у родителей? Бюджет в семье должен быть совместный или раздельный?
J'aime le sourire sur le visage des enfants, des femmes. Il n'y a pas d'expression plus belle. Il n'y a rien de plus vrai sur le visage humain, rien de plus doux, de plus harmonieux dans la personne humaine. Le sourire vient du plus profond de l'être, du monde du sommeil peut-être, et monte, traverse le corps lentement à la manière d'un frisson de plaisir, jusqu'à l'orée de la bouche.
Marriage and Finances
When Drue and I got married, very early on we agreed to have a shared checking and savings. I didn’t realize making that decision would make such a huge impact on our marriage but it did.
My parents had separate banking accounts and in my eyes, it DID NOT WORK FOR THEM. They separated bills “equally” and when one spouse would need help paying a bill the other would “owe” them. I don’t know but as a kid, I hated the idea of owing my spouse.
The first couple of years of our marriage when I was exclusively a stay at home mom, I felt so guilty about not contributing financially. We were college students, we had two babies with 14 months and we were POOR!
I would often complain about wanting to help out and Drue was always creative to show how much I was helping out financially. You're breastfeeding so you're saving us $1300 for the year. You stay at home with our children, so if you went back to work you'd have to pay for the kids to go to daycare, the difference would be bringing home $50 dollars after paying daycare. We can find $50 somewhere.
In our 8 years of marriage, he's never made it feel like it was his money, it was always ours. Now that I am able to contribute it's still ours.
Now, I know this arrangement isn't for every marriage but it's has worked for us and that's the most 𝐈𝐌𝐏𝐎𝐑𝐓𝐀𝐍𝐓 part.
How do you and your spouse handle your finances? Remember there is no right or wrong way, as long as it works for both of you.
Just Archie and I proving how relaxing it can be to organise your finances… 😉
But in all seriousness, it doesn't have to be as scary as the voice and fear inside your head might be letting you believe.. Take a leaf out of my book;
Before I started the @anz_au Financial Wellbeing program 6 months ago, talking about money or my finances would be something that would almost trigger an anxiety-attack within me (I'm not actually joking). For years, I turned a blind eye to my money, simply hoping that it would sort itself out; this is never the case & it actually only made my situation worse.
When @anz_au approached me back in February, I knew that this would be so much more than a collaboration, but an opportunity to take control of my financial situation once and for all! I also recently completed my ANZ Financial Wellbeing Check-In and I've recognised my growth from having no clue about money to having a budget, savings for a rainy day (hello COVID), reducing my expenses, paying off borrowed money and managing multiple bank accounts with far greater ease than I ever expected 🤷🏼♀️
Managing money wasn’t something I was taught 'how to' do in school, growing up, so this program has been invaluable. This is something I will continue to do for the rest of my life & if you want to change your mindset and attitude around money check out my story to do the ANZ Financial Wellbeing Check-In and work through the four steps you can do now to improve your #FinancialWellbeing 💰🧘🏼♀️