Saving for retirement!

Saving for Retirement

It is fortunate that I have a large family who is close and sticks together no matter what. As my parents got older, I began having to take a more active role in their lives. It was really important to be involved in their life especially when it comes to the financials, healthcare and their well being. It made me realized that it is important to create a secure financial and healthcare plan for the future.

Healthcare is a growing concern among many Americans. Its something that should be available and accessible to everyone. But it is considered a benefit or a form of compensation as oppose to a right. The cost of healthcare has continued to grow year over year. Saving for retirement and healthcare costs is critical to the current and upcoming generations. I was looking at a report on the Today show, and the correspondent provided a comparison in long term care options for retirement.

The benefits were for couples or individuals who have assets of $500,000 or more, this didn't include your home as an asset.

http://www.today.com/series/starttoday/have-healthy-retirement-jean-chatzky-how-pay-long-term-care-t106862

by: Jean Chatzky

"Who it works for: Again, people with more than about $500,000 in assets but less than a few million (over that amount you can self fund your care). Unlike traditional long-term care policies, which don’t have guarantees (that’s why so many people have seen their premiums pop in recent years), these hybrid policies often do. If you pay your premiums as contracted, you have a guaranteed death benefit, guaranteed cash value, and a guaranteed amount of long-term coverage. Typically, the amount of years you spend paying the premiums on a hybrid policy is shorter than on traditional life insurance — some have a single premium, others are paid for over about 10 years, but the amounts themselves are much higher.
For example, a 55-year-old healthy female could spend $75,000 on a policy (paid all at once, or $8,500 a year over 10 years) that would provide $271,000 to be used for long-term care, as well as a minimum death benefit of about $135,000, according to the AALTC. (Using the long-term care benefit, however, reduces the death benefit.) There is also typically a waiting period before you can access the money in the policy for care. Make sure you know what that is. "

It was also said that:

"Medical costs, especially unexpected ones, can add up. A 65-year-old couple will need an estimated $260,000 to pay for unreimbursed medical expenses through retirement — and that doesn't include long-term care, according to Fidelity Investments. "

Those of us who are getting older, have to plan ahead.

I know that many of us are too busy dealing with today, that we don't even have the time to think about the future. However, the years are going by really fast and before you know it, its that time to retire.

Either we can retire comfortably or continue working beyond retirement age?

Health and Wealth - Live Richer Challenge

Live Richer Challenge

Over the years, I think my biggest challenge has been finances.

I have lacked the discipline over the years to stick to a defined budget.

This year (2017), I am trying something new.

The Live Richer Challenge. #LRC

It is a challenge created by Tiffany "the Budgetnista", this year the challenge is centered around credit. Understanding it, managing it and maintaining good credit and why it is important.

https://www.facebook.com/groups/LIVERICHER/?hc_ref=NEWSFEED

I encourage people to join this challenge and movement of the live richer concept. I am the first to admit that I knew and understood many of the things I am learning.

The biggest challenge I have is accountability and discipline. In 2017, this is one of the main elements I need to overcome.

I mentioned in my previous post "New goals and New beginnings", that my goal for 2017 was to start a business. In order to do that, one of the first things I have to overcome is managing my personal finance. Poor financial management will lead to an unsuccessful business.

In addition to changing my habits when it comes to credit. I am also making changes to how I spend money and how I save it. A lot of our expenses can be better managed if we paid attention to what we spend our money on.

For example: I never realized how much money I spend on food. Eating out, ordering take out, and Wawa and Starbucks trips add up quickly. When I looked at my account I realized that the cost of all of the food spending was equal or more than what I spend on groceries each month.

In the new year, I am going to cut back completely on eating out.

1. Eliminating the Wawa and Starbucks trips ( I have a Keurig at home, so I need to put it to use).
2. Limiting the eating out to twice a month and only on the weekends. (Coupons: I realized, there are many restaurant coupons that I can use to cut cost)
3. Take out will be once a week. (Every Friday - there are coupons for this too)

These simple changes will decrease my monthly spending and I can use the extra money to pay down credit cards.

I encourage those of you reading this blog. To join the challenge.

#lovelivingmylife #LRC #Dreamcatcher #goodcredit

https://www.facebook.com/nadine.angoy

Below are some good website to review

www.smartwomanblog.com
http://www.allthisbs.com/single-post/2016/1/4/New-Year-New-Money
http://www.classycareergirl.com/2012/09/15-ways-i-paid-off-80000-of-debt-in-18-months/

New Goals and New beginnings

New Goals and New beginnings

Life is not about waiting for the storm to pass, its about learning to Dance in the Rain

Its 2017.

I am starting this year with a positive outlook and determined to maintain my motivation throughout the year. 2016 was a rough year, it was a year of many changes some hard, some devastating and some lessons learned. It is true what they say, when going through hard times that is when you realize who is your side. God is always by side...seeing you through!

I read an article last night, and after reading it, it gave me a new perspective and allowed me to understand certain things.

Every setback is a set up for a comeback!

What doesn't kill you makes you stronger!

Lessons are a blessings!!

http://www.essence.com/lifestyle/money-career/tonya-brigham-smoothie-king-franchise-owner

Tonya Brigham has a great story.

Her story was very similar to mine. Over the past 10 years, I have had a successful career, I was a working mom with two kids.

In 2016, I had a drastic change that was unexpected. I was laid off. The moment I was laid off my first instinct was to get right back into the workforce. My husband convinced me that I needed to take some time off. But, I didn't want to do it.

See, we had just purchased our first new home, and we were so excited to begin the new chapter of being homeowners and growing our family. Being laid off was scary, we were not a one income household. It wasn't something we ever talked about. We were always a two income household. My husband and I have always had the goal of providing for our home and growing our careers together. The idea of changing our lifestyle was something that I wasn't prepared to do.

I gave in and made the decision to be a stay at home mom. At the time, I didn't realize that this was the blessing that I needed in my life. I was able to take care of my children, my husband, my home and myself. In that time, I learned a lot about myself. I learned what makes me happy, what makes me sad, and what sets me over the edge. I learned I had to trust in God and that he had a plan. I learned that God put me in my home to take care of myself and my family. I learned that there is more that I can do with my life, other than working a 9 to 5 or working long and crazy hours and not having time to live life.

I have also learned that there are ways to making money being at home. The overwhelming work from home opportunities out there was not expected.


Among the companies to explore:

AriseWorkFromHome.com
Visit the Arise National Sponsor profile for more information on current opportunities.
American Express

Sykes Enterprises formerly Alpine Access
LiveOps

WorkingSol
ACD Direct
Alorica formerly West at Home
Convergys
Intrep
Aspire Lifestyles
Sutherland Cloud Source



Through that year, I learned that there are a new goals I have set for myself

I am determined to do them.

I have decided to start a business. I know it will be a challenge and it will take a lot of time. But I am motivated and determined to create a successful business.

The biggest challenge will be the funding. But I have learned that God always has a plan and I am ready and willing to follow his journey.


#lovelivingmylife #entreprenuer