Monthly Archives : April 2015
If you’re getting a divorce, your new best friend should be the Xerox machine. Why? Because you need to document every dollar you and your soon-to-be ex-spouse have to ensure it’s all considered in the eventual divorce settlement. This means making duplicates of bank and brokerage account statements, insurance policies and any piece of paper that details marital assets.
Do you know if you have good or bad credit? You may think your credit is fine, but you may be kidding yourself. If you notice any of these red flags, you’ll want to get your free credit report and double-check your information:
But beyond that, do you really know what you’re doing? It’s quite possible you’re still making mistakes with your retirement savings.
If you’re not scared, you should be: With most retirement mistakes, you’re losing money that you’ll never get back. And, it’s a lot of money. Imagine if your employer screwed up your paycheck. You wouldn’t tolerate that at all. And you certainly shouldn’t tolerate it from yourself — your retirement is your paycheck after you retire.
Retirees don’t have the luxury of the long time horizon that younger counterparts have, and because retirees are making account withdrawals, they’re more susceptible to market volatility,” says Greg McBride, a senior financial analyst at Bankrate.com
The problem is, when you procrastinate on important financial things in your life, it costs you money.
If, every time you put off something, a man in a dark suit showed up and demanded money from you, you’d call the police! Well, essentially, that’s what you’re doing — forking over money to other people.