3 Tips to Help You Catch Up on Your Retirement Savings

3 Tips to Help You Catch Up on Your Retirement Savings

Blog Post Originally From DaveRamsey.com As much as we’d like to think of our lives as a long trip on a smooth and level highway, the truth is that we often encounter unexpected detours, potholes and traffic jams. This can mean we end up stopping or delaying our plans to save for retirement while we sort out life’s roadblocks. Major life changes like losing a job, experiencing a major medical event or losing a spouse are all good reasons to stop investing for a short while. In times like these, you need to focus on your family’s immediate needs. But the time will come when you must hit the road again and get back to your retirement savings plan. Depending on how long you’ve been on the sidelines, you may have some serious catching up to do. Here’s our advice to help you get back on track. Tread a Familiar Path If you already have experience in investing for retirement, you know well what you need to do. Simply reactivate your contributions to your employer retirement plan and your Roth IRA so you are investing 15% of your income again. For those of you just getting started, or if you’re starting a new job, ask your human resources department for details about the company’s retirement plan. If they offer a match, start contributing enough to receive the full match as soon as you’re eligible—it’s an instant 100% return on your money! Next, open a Roth IRA and contribute the remainder of your 15% there. Put the Pedal to the Metal If you’re over age 50, you can make up...
5 Christmas Mistakes You Might Be Making This Season

5 Christmas Mistakes You Might Be Making This Season

(A blog from Dave Ramsey) We all make mistakes—especially around the holidays. It’s easy to overdo it for the sake of others. But when we’re exhausted and stressed, we miss out on the magic of the season. This year, bring back your Christmas magic. And don’t let these five simple mistakes cost you any more time, money or meaning. 1. Focusing on the External If you can’t be content until your house is Martha Stewart-perfect and your menu is Barefoot Contessa-worthy, you may need some perspective. Christmas is not about buying and serving the finest of everything. It’s about faith, generosity and family. So if you want to deck the halls of your home for the holidays (and you can afford it), go right ahead. But give your full attention to what matters most. Everything else is just decoration. 2. Buying Gifts Without Meaning Choosing a gift for your Dad is impossible. Every year, you play the what-do-you-want game for weeks, until you finally give up and grab the first World’s Greatest Grandpa sweatshirt you see. You both know you’re wasting your money, but you have to buy him something! This year, give him an experience he’ll actually remember. It can be as simple as a round of golf for him and his buddies or donating to his favorite charity. Just show him that you took the time to remember him. That’s the best gift you can give. 3. Forgetting to Stop and Rest You wouldn’t think of working during your summer vacation, but you hardly sit down during your winter break! What gives? Okay, there’s a lot to...
2 Secrets to a Confident Retirement

2 Secrets to a Confident Retirement

Blog Post Originally From DaveRamsey.com Does the thought of retirement leave you with a sinking feeling in the pit of your stomach? If so, you’re not alone. Retirement took top billing in a recent Gallup poll of financial concerns, with 59% of Americans worried that their nest egg will fall short. Your golden years have the potential to be the best of your life. Don’t let fear sidetrack your dreams. If retirement stress is getting you down, take heart—then take control with these two steps. Secret 1: Get In the Game Every sports fan knows you can’t score points from the sidelines. Sure, there’s no risk of injury or embarrassment when you’re a spectator—but there’s also no opportunity for glory. If you want to win, you’ve got to get off the bench and in the game! Retirement’s no different. Choosing to stay out of the stock market because you can’t predict its every move—or don’t know all the plays—is a sure way to end up with a goose egg in your golden years. According to the Employee Benefit Research Institute, workers who participated in a retirement plan were more than twice as confident in their ability to retire comfortably as those with no plan at all. So stop worrying and start investing! Just make sure you’re debt-free with three to six months of expenses in an emergency fund first. You’ll get the most bang for your investing buck when you free up your biggest wealth-building tool—your income. Secret 2: Give It Your Best Shot With so many factors to consider, getting retirement right can feel like trying to make...