5 Retirement Planning Myths Busted (To Help You Plan Your Finances Better)

Dumb Little Man

When it comes to financial myths related to retirement planning, there exists plenty. However, even the most well-informed people can sometimes fall prey to some of the existing retirement planning myths. Here are 5 retirement planning myths that we really need to abolish as fast as possible. Myth 1: There’s plenty of time to start retirement planning later. One of the biggest mistakes that you can commit is to procrastinate retirement planning.

2020 186

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?

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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.

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. The article also points out that in addition to rising costs, there are also cash flow disadvantages associated with the use of Chinese manufacturers. 

2010 195

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 127

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.    Third, they simply don't have to provide much value for me to cover my costs

2010 111

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. Small Business Labs Tracking and Forecasting the Trends Impacting the Future of Small Business Welcome to Small Business Labs Small Business Labs, from Emergent Research , covers the key social, technology and business trends impacting small business.

2010 152

slugbug tees off

Loosely Speaking

Home VA Training VA FAQ Podcast Featured Events for Bloggers & VAs SlugBug tees off Saturday, April 18, 2009 at 10:01 am // By: ktcosmos // Category: Baseball , Life of the Virtual Assistant , Sports Paradoxically speaking: I had finally resigned myself to a long term, perhaps permanent, work slowdown and was halfway into retirement planning when, the next week, my inbox delivered a slew of new projects.

2009 100

Saving Tips for Millennials: How to Create a Personal Financial Plan for the Future

Dumb Little Man

A lot of Millennials are delaying important things like saving for retirement or typical milestones like buying a house. You determine the costs and savings necessary to create your ideal vacation experience.

2020 188

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

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. Take the monthly cost of the service and divide this by the amount of times you use it per month. If the cost-per-use is pretty high, then unsubscribing is a safe bet. Save For Retirement.

2019 180

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. The word proactive is often tossed around in the workplace with little context. If you’re reading this article, it’s safe to assume you’ve heard it. Perhaps you’ve even been instructed to “be more proactive.”

2019 148

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. You can also agree with your employees and get them a retirement plan thus helping you to save more of your business income. Reducing your bills is easy to cut down on cost used when paying taxes.

2019 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. Often, when I tell people what I do, one of the most frequent responses is, ‘You are so lucky to work from home’ While I certainly feel fortunate, luck has very little to do with it.

2019 120

How to Achieve Self-Mastery

Dumb Little Man

It’s great to earn big when you spend a lot of time at work, but make sure you’re not doing it at the cost of spending less time with your loved ones or compromising your health. A master carpenter named Howard was ready to retire. Life is comparable to chess.

2020 230

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 140

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 140

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 182

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. Men take pride in working hard to provide for their families and women are meant to take care of the house and the children. But, the era has changed. Today, more and more women are working. In fact, 38% of American women make more money than their husbands.

2020 163

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. Match your employer’s deposits so that you and your partner will be guaranteed a fantastic retirement to spend together. Getting married is an exciting time for any couple.

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. In a world so politically unstable you never know what’s around the corner and when inflation is pricing many out already, planning for the future is a must.

2019 179

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

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. The lesson to all of this is that we need to review our insurance regularly to make sure that mistakes don’t happen that could cost us a bunch in the long run.

2012 135

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 163

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 145

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. With the sky-rocketing cost of health care, it takes nearly no time for medical expenses to add up and before you know it, you are in serious debt just because you have no health insurance to cover you. Are you prepared for financial emergencies?

2017 157

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.  Key quote: MOST people want to be sure that they can buy and pay for a home, save up for an emergency fund and enjoy a comfortable retirement. My Of course kids are too expensive.

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. More than a fifth of workers are leaving jobs to access more or better benefits, leaving employers scrambling to replace them — a costly proposition. To replace just one full-time $10-an-hour retail employee, the cost reaches $4,291.

2019 133

7 Ways to Boost Your Financial IQ

Dumb Little Man

We all have financial habits that can cost us more than we realize. As an example, you can save money in an emergency savings account or save it in your individual retirement account. Understanding finances can be quite a difficult task.

2020 162

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. Pensions are disappearing and the stock market is proving too volatile to support private retirement accounts. The cost of living is soaring faster than wage growth can keep up.

2019 159

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

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. A good health insurance policy is often one of the most crucial parts of a well-planned retirement portfolio since healthcare costs become higher as you get older. Some of the more detailed benefits of a good health insurance policy include: Protection Against Unexpected Medical Costs.

2016 135

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

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. Finding someone you can trust to give you sound financial advice is not easy. That’s probably why 75% of Americans manage their own finances.

2020 129

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. Thinking about ways to better manage your finances? The 50/20/30 rule is one of the most popular techniques that you can try. It’s simple and easy to follow.

Budget 210

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. Legendary ad executive and copywriter John Caples. He died in 1990. During his first year as a copywriter, Caples wrote one of the best-known direct-mail ads of all time.

2014 179

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.).  Aging boomers are also more likely to delay their retirement and stay in the workforce longer than prior generations. One of the interesting aspects of self-employment is that the likelihood of being self-employed increases with age.

2013 179

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 understand that cost is a significant feature in rewarding clients and staff for their loyalty, however we have options that will suit any budget! We are chuffed to bits to be guest blogging today for the Practically Perfect PA Blog.

2016 109

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. Key quote: many older workers are hitting the road as work campers — also called “workampers” — those who shed costly lifestyles, purchase RVs and travel the nation picking up seasonal jobs that typically offer hourly wages and few or no benefits.

2017 56

How To Have A Growth Mindset About Money

Dumb Little Man

People are stuck living paycheck to paycheck, not saving enough for retirement and emergencies , and the result is always catastrophic. Part of the problem is that wages have stagnated while the cost of living has ballooned out of control. For decades raises have barely kept up with inflation, while the cost of living has overshot normal wages by a significant amount. More than 75% of Americans have at least one financial regret, and is it any wonder?

2020 192

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. The latter offered great benefits though with paid tuition, 100% paid health insurance premiums and above average retirement matching. Overqualified but applied anyway – NOT a desperate move.