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The 8 Biggest Financial Mistakes to Avoid in Your 60s

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People in their 60s often face the decades in two parts: the run-up to retirement and retirement itself. Although retirement may have a date on the human resources calendar, it can—and perhaps should—involve years of transition. They’ve been in this accumulation mode of building up their assets,” she says.

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5 Long-Term Financial Goals and How to Achieve Them

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Save for retirement Expected time: 10-35 years Account types: Retirement plans including IRAs, 401(k)s and pensions Planning for retirement is one of the most common long-term financial goals. Most people enter the workforce with over 30 years until retirement, so the sooner you can start saving, the more wealth you can build.

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How to Know If You’re Financially Ready to Start a Business

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After all, without cash flow and a solid financial plan that includes costs and expenses, you won’t be able to get your business off the ground. For example, if a relative gives you an intrafamily loan, they’ll want to charge a minimum interest rate so it doesn’t count as a gift (which would trigger gift taxes).

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5 Smart Money Hacks to Help You Budget for the Holidays

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With the economy making everyone extra cautious about spending , I really wanted to give myself the gift of not worrying about money this holiday season. Consider it my gift to you, my fellow budgeters. I honestly love gift-shopping. They also double as a kind of mini gift to yourself when you file your tax return in April.

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Do I Need to Buy Life Insurance?

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People purchase life insurance to help their families replace lost income and cover final expenses after death. Remember: The larger the policy amount or the longer you want the policy to be in effect, the more expensive the premiums. Others say to multiply your annual salary by the number of years you have before retirement.

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Things You Can Do As A Small Business Owner To Limit Your Tax Liability

Eco-Office Gals

Have A Retirement Plan. As an entrepreneur whose aim is to limit tax deductions contributing to a retirement plan is a good idea. A retirement plan will help you save some money because the plan will provide you with a tax deduction for the contributions. Contribute To A Charity Organization. Pay Your Bills Early.

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8 Pieces of Financial Advice for New College Graduates

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You may need to create rules for yourself, like that a percentage of your paycheck needs to go toward retirement savings before you can buy something just for fun. If you received money as graduation gifts, that is a perfect start to an emergency fund. You may not get your expenses to match the 50/30/20 percentages.