How To Use Life Insurance For Your Retirement Strategy

Dumb Little Man

Retirement. The idea of retiring and running out of money can be scary, particularly for someone who’s not prepared. It’s the fact that there’s no hard formula to help you know how much money you need to prepare for retirement. In reality, life insurance can offer more as long as you’re able to pick the right type and utilize it in your retirement income plan. Now, you’re probably wondering: How do I utilize life insurance for my retirement planning?

5 Simple Hacks To Increase Your Retirement Savings

Dumb Little Man

Are you saving for your retirement? If you haven’t been able to start saving for retirement, you are not alone. The importance of saving for your retirement cannot be overemphasized. Saving for retirement is not optional; it is something that everybody ought to take seriously. If you’re interested to know the best way to save for retirement, below are simple hacks you can try. Simplify your retirement savings by placing it on auto pilot.

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The Trend Towards US Manufacturing

Small Business Labs

Blog powered by TypePad Member since 01/2005 « Non-Mortgage Debt and Working in Retirement | Main | Foreign Born in the U.S.  discusses the increasing and hidden costs of manufacturing in China, resulting in manufacturing in the U.S. becoming more cost effective.

2010 254

Are baby boomers suffering more than other workers?

On The Job

Many in the baby boomer generation had planned on retiring by now. You've got people who are worried that if they live 30 years past retirement, will they be able to support themselves? I'm a baby boomer, and was raised by a mother who suffered a lot during the Great Depression.

2011 188

Benefit Declines Makes Self-Employment More Attractive

Small Business Labs

" The article goes on to list 21 workplace benefits that are going away, with reductions in retirement and health care benefits leading the way.    People think employer benefit replacement costs are higher than they are, or that certain benefits can't be replaced when they can.    We've also found employer retirement and health benefits tend to be the most valued - and overvalued - in the evaluation process. 

2011 124

Disruption and the Analyst Industry

Small Business Labs

  It costs $79 a year to subscribe. GigaOm is trying to fill a need for timely, high-quality yet low cost data and commentary on emerging technology.    First off, this is a business expense so my after tax cost is quite low. 

2010 142

Newsweek Sold for $1

Small Business Labs

  As part of the sale, they agreed to pay $10 million in post acquisition costs and cover employee pension liabilities.

2010 198

Simple Money Hacks That Every Millennial Needs To Know

Dumb Little Man

With many of us held captive to large student loans and ever-increasing living costs, it isn’t uncommon to find ourselves with $5 left in our bank accounts at the end of the week and with little to show for it. If the cost-per-use is pretty high, then unsubscribing is a safe bet.

2019 226

Free Blog Posts | Men With Pens

Men With Pens

Time to think about the retirement fund.&# “We get to retire? No one ever told me that…&# We both know there’s no retirement fund in what we do. Businesspeople understand investment, as opposed to cost. Prices always tend towards marginal costs. But when Deb mentioned the words ‘retirement fund’ and I actually barked a laugh, I started to think. (A I am retired now, a blogger, paid by Adsense and affiliate revenue.

2009 56

What Does It Really Mean to Be Proactive at Work?

Eat Your Career

When you’re proactive, you keep your car running smoothly and prevent costly repairs. It’s like waiting to put your seat belt on until you see an accident about to happen or waiting until the day you retire to start saving for retirement.

2019 197

GenY and Boomers: A Formidable Alliance

On The Job

Much has been made of the fact that baby boomers will be retiring in droves, leaving the field as worn-out warriors with their outdated ideas. First, there is the economic necessity to remain working , especially with the increasing costs of just going to the grocery store, the floundering stock market and of course, the housing debacle. In fact, according to author Tamara Erickson who just completed a book on retirement, GenYers like having boomers around.

2008 100

You Don’t Have to Be Lucky to Work from Home

Tips From T. Marie

It offered other businesses the opportunity to take advantage of highly skilled support when they needed it, without employee overhead costs. It’s no longer common for someone to hold one job with the same company until retirement.

2019 156

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.

2019 130

The New Migrant Workers: "Workampers", "Vanlifers" and Digital Nomads

Small Business Labs

The new migrants are often choosing this as a lifestyle or doing it to supplement their retirement.   Mostly older, workampers are often workamping to fund or augment their retirement. This makes picking up part-time or seasonal work a good way to add to retirement income.

2017 186

5 Important Tips on Sharing Finances in Marriage

Dumb Little Man

On the other hand, long-term goals include a house mortgage, a car loan, retirement funds, as well as the education cost of your children. Since we’re kids, we’ve been told that men are breadwinners.

2020 203

How Do I Manage My Expenses After Getting Married?

Dumb Little Man

Starting a family – As of 2017, the average cost of raising a child from birth to eighteen years old was $233,610. Retirement – One excellent piece of financial advice is to start saving for your retirement as early as you can.

The Best Ways To Save Money In 2019

Dumb Little Man

401(k) plans are great ways to save for the future and by adding an extra 1% of your paycheck you can boost the amount you’ll take when you retire significantly. One simple way of cutting costs and saving money is the test of need versus want. Saving money is more important than ever.

2019 220

The Shift to Defined Contribution Health Care Plans

Small Business Labs

These plans promise an organization's employees a specified retirement benefit that's determined by a formula based on some combination of an employee's earnings, length of time with the firm and age.   Defined benefit retirement plans have almost disappeared in the private sector due to their overall costs and the unpredictable nature of their costs. These plans reduce costs and limit company risk.

Health 137

Financially Challenges Millennials Changing Society

Small Business Labs

Key quote: Massive student loan debt, stagnant wages, increased cost of childcare and a lack of adequate health insurance benefits may have brought an end to the American family as we once knew it. Average childcare costs has risen to $12,000/yr [ Pew Research ], causing a dramatic increase in new stay-at-home moms, as it is more cost-effective for many woman to stay at home than work a part-time or full-time job.

2014 184

The Aging in Place Market

Small Business Labs

  One of the more interesting market opportunities we heard about was supporting aging boomers and seniors wanting to stay in their homes instead of moving to a retirement community or assisted care facility.  The cost of retirement communities and assisted living continues to increase. We recently attended the Boomer Summit , a conference focused on the business opportunities being created by aging baby boomers.

2012 137

Preventing Employee Turnover With Better Benefits

Dumb Little Man

It can lead to increased costs for the companies they leave behind. Turnover cost businesses $600 billion in 2018 alone. While wages were up 3.1%, the cost of living has been outpacing wage growth by 14% on average.

2019 165

5 Financial Emergencies Everyone Must Be Prepared For

Dumb Little Man

Financial security and planning can help us achieve the life goals we have set for ourselves such as purchasing a vehicle, a house, funding your children’s education and marriage, saving up for your own retirement, and so on. Are you prepared for financial emergencies?

2017 204

How to Choose A Financial Advisor: Top Tips You Can Follow

Dumb Little Man

Advisors who hide their fees or costs and then claim they don’t exist at all. Those investments frequently come at a very high cost to you, which means you’re just financing someone else’s success. See Also: Seven Top Tips for Retirement Planning.

2020 159

Can Vocational Training Help In Redefining Success?

Dumb Little Man

For decades, the advice was the same: Get an education, graduate, get a job, get married, buy a house, start a family, work until you are 65, and then retire comfortably. The cost of getting a college education has gone out of hand.

2019 196

Are Kids Too Expensive?

Small Business Labs

Department of Agriculture, it costs $234,900 on average to raise a kid.  By the way, these numbers do not include college costs.      Not surprising is more people are citing this cost as the key reason they aren't having kids.

Moxie Tip 293: "Affording" Time Away is All In the Numbers

Virtual Moxie

It’s the cost of the things that you can’t see—or, maybe better—that you don’t see all the time, that seem to get people all ajumble. Or making a contribution to a retirement account. When you were an employee, back in the day when such things were provided, you had paid time off, and possibly a match of funds into your retirement account.

2012 141

How to Budget Using the 50/20/30 Rule

Dumb Little Man

You might feel like you’re too young to be saving up for your retirement but time flies so fast and before you know it, you haven’t saved enough for your future. For example, if you are renting a house that’s too big for you or your family, you may want to downsize to reduce the cost.

Budget 267

What To Look For In A Good Health Insurance Plan

Dumb Little Man

A good health insurance plan will help you cover the cost of illnesses and many other difficulties that might affect your financial security over the course of your life. Some of the more detailed benefits of a good health insurance policy include: Protection Against Unexpected Medical Costs.

Health 172

Playing Great Defense With Money

Dumb Little Man

Gaining financial independence won’t happen overnight, nor will it happen only by knowing how to cut costs. The really good business manager doesn’t wake up in the morning and say ‘Today I am going to cut costs’ any more than he wakes up and decides to practice breathing.” -Warren Buffett. If you cut costs, you immediately keep that money. Think about how to cut costs and which areas you can do it. I run almost every day, and it doesn’t cost me anything.

2017 161

Can You Guess the 2 Most Powerful Words in Advertising?

The Solopreneur Life

He worked for 40 years at BBDO, one of the nation’s largest ad agencies, and he was BBDO’s vice president when he retired. Marketing for Solopreneurs: Here’s a Powerful Tactic That Takes 4 Hours, Costs $2.20. J ohn Caples was a legendary ad executive and copywriter.

2014 232

Self-Employment Increases With Age

Small Business Labs

Older workers, especially those 65 and older, face diminished traditional job prospects due to age discrimination and other issues associated with hiring older employees (increased benefits costs, etc.).

2013 235

Feeling undervalued….

Practically Perfect PA

There are many occasions throughout the year that we can help employers show that they care – Long Service Awards, Promotions, Christmas, Maternity and Retirements. We are chuffed to bits to be guest blogging today for the Practically Perfect PA Blog.

2016 144

Reviewing Insurance

Simple Productivity Blog

Our insurance agent retired, and a new man took his place. Our state implemented a new restriction on claims paid for hurricanes, and as a result our cost had gone down…but there was a much bigger deductible for hurricane-caused damage.

2012 176

Smoking and Productivity: 7 Good Reasons to Quit Smoking

Dumb Little Man

The CDC estimates that workers who smoke cost the economy almost $300 billion a year in lost productivity. Secondhand smoke, on the other hand, costs the economy $5.6 This income disparity is due to the enormous costs smokers impose on their employers. Over $92 billion in losses were reported in 2006 by employers who had to cover their employees’ healthcare costs. This statistic represents an unfathomable cost. Smoking is no longer allowed indoors.

2018 142

Should City Governments and other Businesses look to Virtual Services to Save Money?

Tips From T. Marie

The article discussed how the City of Hickory, NC proposed offering early retirement to 84 of their employees. Reading the details of what would be offered in exchange for taking the early retirement deal didn’t really strike me as a wonderful option for those 84 people., Converting an in-office worker to a telecommuting employee saves money by reducing overhead costs.

2012 122

5 Reasons Being Self Employed Sucks

Productivity Bits

Retirement Benefits. Contributions to a retirement plan are usually matched by an employer, and many businesses offer pensions and other benefits to ease the transition into old age. While the self-employed can invest in a tax-sheltered, individual retirement account, there are no matching contributions made from an outside benefactor. T here is a temptation at times to lionize the self-employed for taking control of their occupational future.

2011 197

"Affording" Time Away is All In the Numbers

Virtual Moxie

You know how much that new printer cost. But it’s the cost of the things that you can’t see—or, maybe better—that you don’t see all the time, that seem to get people all ajumble. Or making a contribution to a retirement account. When you were an employee, back in the day when such things were provided, you had paid time off, and possibly a match of funds into your retirement account. Annual indirect costs divided by billable hours/year = hourly costs 3.

2011 177

Overqualified and Interviewing

Office Dynamics

Seeking better benefits; health, retirement, education assistance or flexible schedule. I needed health insurance and retirement opportunities and wanted to stay within the industry I had most of my career experience in. Overqualified but applied anyway – NOT a desperate move.

How To Make The Gig Economy Work For You

Dumb Little Man

Fifty years ago, the expectation was that you would be in the same job until you retire. That’s much less people getting their retirement money and financial security from private US firms. This means less buying power despite increased cost of living.

2017 211

12 Tips for Finding the Best Apartment You Can Afford

Dumb Little Man

Also, check the parking options and costs. Other landlords may offer a portion off your rent if you’re either active in or retired from the military.

2018 217

Why Your Office Needs a Green Workplace Policy

Eco-Office Gals

There are a variety of reasons to implement such a green policy, and if you’re looking to do so, ways to do it simply and without great cost. Jessica Watts is a retired secretary and avid blogger.

What Would a Home Economist, an Environmentalist, an Allergist, and Your Mother Say About Your Home Windows?

Dumb Little Man

We’re always being told that home replacement windows are a wise decision especially when retiring any window older than 10 years for a new Energy Star-rated window. In many cases the credit is 10% of the purchase price and in some cases includes the labor costs.

2016 175

Important Tips for Safe Online Dating

Dumb Little Man

In fact, romance scams cost victims seven times more than traditional online scams on average. The average cost of an online romance scam is $2600. The cost of the average romance scam for septuagenarians is $10,000. Can online dating be done safely?

2020 160