1. You're too busy keeping up with the Joneses
You can't spend your whole life pretending to be rich and then think you'll retire rich too. Living within your means isn't glamorous, but it is smart. And being smart is what will make you a wealthy retiree.
Rather than upgrading your smartphone every two years and your car every three, try being content with what you have. It doesn't matter if all your friends are remodeling their kitchens, if yours works perfectly fine, leave it be.
2. You're not saving enough money
When you're not spending money to constantly upgrade your toys, you'll have more money to save for retirement.
Failure to save enough money is a sure way to retire poor. Ideally, 10 to 15 percent of your income should be going into a retirement account each month.
3. Your savings priorities are all wrong
On the other hand, you could be saving money but have your priorities all wrong. Yes, college for the kids is important, but not at the expense of your retirement account. The kids can always get scholarships, jobs or even loans if absolutely necessary.
Make your retirement savings a top priority. Again, you should be setting aside 10 to 15 percent of your income in retirement accounts. Once you hit that level, you can start putting money in the kids' college funds.
4. You save your money in the wrong accounts
Another common mistake is putting retirement money in the wrong accounts. A typical savings account isn't going to cut it. Whole life insurance or an annuity aren't fabulous options either.
Instead, put that money in tax-sheltered retirement accounts such as 401k's or IRAs. These accounts come with tax benefits as well as stiff penalties for early withdrawals. That second part is an essential component of ensuring your retirement savings are still there at retirement time.
5. You finance everything
Rather than spend your money on interest, flex your self-discipline muscles and wait until you have enough saved up before buying whatever it is you want. If you keep yourself out of debt, you'll be amazed at how far you can stretch your paychecks. Then you can live comfortably now and bank enough to live comfortably in the future.
6. You've let your credit score go
Neglecting to maintain your credit score by making timely payments is a major mistake that can lead to destitute retirement years. If your number is on the low side, use these tips to bring up your score quickly.
7. You're a chicken when it comes to investments
Finally, no guts, no glory can apply to your investments.
Sure, you don't want to be dumb about your money; placing 100 percent of it in volatile stocks a few years before retirement is a good way to land you in the poor house. But at the same time, you want to be aggressive enough with your allocations to ensure your returns at least outpace inflation.
Thursday, May 29, 2014
Thursday, May 15, 2014
Top 10 Cities to work in if your in your 60's
Just more than a quarter (26.2 percent) of people age 60 and older remain employed. But in some cities, nearly a third of the population continues to work during the traditional retirement years, according to 2013 Census Bureau data. Here are the places those ages 60 and older are the most likely to be employed.
1-Madison, Wis.
Employment in government, education and health care jobs is prolific in Madison. These industries are also known to be friendly to older workers, which could be why 31.9 percent of people age 60 and older are employed in the Madison metro area.
2-Denver, CO
The local, state and federal governments provide a large number of jobs in the Denver area, as does the University of Colorado, Denver public schools and several large hospital systems. Some 31.9 percent of people in their 60s and older continue to be able to find employment.
3-Houston, TX
The largest employers in the Houston area, which includes Sugar Land and Baytown, include several large hospitals and oil companies. Nearly a third (32 percent) of Houston’s seniors are employed at age 60 or older.
4-Des Moines, Iowa
Some 32.1 percent of Des Moines seniors work into their 60s or later. Major employers in the Des Moines area include state and local government, insurance companies and health care services.
5-Boston, MA
Boston’s many hospitals and colleges are the largest employers. Several financial services companies are also among the institutions that employ thousands of Boston-based workers. Some 32.3 percent of Bostonians remain on the job at age 60 or older.
6-Austin, Texas
City, state and federal government jobs, the public school system and tech companies including Dell and IBM keep the economy strong in Austin. Just under a third (32.4 percent) of people age 60 and older are able to keep working in Texas' state capital.
7-Omaha, Neb.
Government institutions, including the Offutt Air Force Base and Omaha Public Schools, and major medical centers such as Alegent Health, Methodist Health System and the Nebraska Medical Center are among the largest employers in this state capital city. Some 32.7 percent of seniors are still working in Omaha.
8-Bridgeport, Conn.
A third of workers (33.4 percent) in the Bridgeport metropolitan area, which includes Stamford and Norwalk, are employed at age 60 or older. Many of the largest employers are health care providers, including Bridgeport Hospital and St. Vincent’s Medical Center.
9-Salt Lake City, UT
Just over a third (33.8 percent) of senior citizens remain employed in Salt Lake City. Education jobs at the University of Utah and public schools and government positions at state and local offices are among the most common employment opportunities in Utah’s state capital city.
10-Washington D.C.
More people age 60 and older (36.8 percent) work in the Washington, D.C., metro area than any other area of the country. The federal government and its contractors and businesses that cater to these employees create a steady supply of employment opportunities in the area.
1-Madison, Wis.
Employment in government, education and health care jobs is prolific in Madison. These industries are also known to be friendly to older workers, which could be why 31.9 percent of people age 60 and older are employed in the Madison metro area.
2-Denver, CO
The local, state and federal governments provide a large number of jobs in the Denver area, as does the University of Colorado, Denver public schools and several large hospital systems. Some 31.9 percent of people in their 60s and older continue to be able to find employment.
3-Houston, TX
The largest employers in the Houston area, which includes Sugar Land and Baytown, include several large hospitals and oil companies. Nearly a third (32 percent) of Houston’s seniors are employed at age 60 or older.
4-Des Moines, Iowa
Some 32.1 percent of Des Moines seniors work into their 60s or later. Major employers in the Des Moines area include state and local government, insurance companies and health care services.
5-Boston, MA
Boston’s many hospitals and colleges are the largest employers. Several financial services companies are also among the institutions that employ thousands of Boston-based workers. Some 32.3 percent of Bostonians remain on the job at age 60 or older.
6-Austin, Texas
City, state and federal government jobs, the public school system and tech companies including Dell and IBM keep the economy strong in Austin. Just under a third (32.4 percent) of people age 60 and older are able to keep working in Texas' state capital.
7-Omaha, Neb.
Government institutions, including the Offutt Air Force Base and Omaha Public Schools, and major medical centers such as Alegent Health, Methodist Health System and the Nebraska Medical Center are among the largest employers in this state capital city. Some 32.7 percent of seniors are still working in Omaha.
8-Bridgeport, Conn.
A third of workers (33.4 percent) in the Bridgeport metropolitan area, which includes Stamford and Norwalk, are employed at age 60 or older. Many of the largest employers are health care providers, including Bridgeport Hospital and St. Vincent’s Medical Center.
9-Salt Lake City, UT
Just over a third (33.8 percent) of senior citizens remain employed in Salt Lake City. Education jobs at the University of Utah and public schools and government positions at state and local offices are among the most common employment opportunities in Utah’s state capital city.
10-Washington D.C.
More people age 60 and older (36.8 percent) work in the Washington, D.C., metro area than any other area of the country. The federal government and its contractors and businesses that cater to these employees create a steady supply of employment opportunities in the area.
Wednesday, May 7, 2014
North Dakota Wants YOU!
BISMARCK, N.D. (AP) - North Dakota officials are sending a plea to people across the country: We need you. Officials say, there are some 25,000 more jobs than takers in all industries in the state.
The state's unprecedented oil bonanza has made it the economic darling of the nation — boasting a sturdy economy, a state government budget surplus, and its highest population ever, as swarms of people have migrated to North Dakota.
The $800,000 campaign is being paid for equally by tax-supported state funds and a donation by Hess Corp., a New York based Oil Company.
North Dakota has the lowest unemployment rate in the nation, at less than 3 percent. It is leading the nation in population growth and the number of residents in the state is at an all-time high, at more than 725,000 people, according to the Census Bureau.
The surge in economic activity and population growth has come largely from oil. The state has gone from the nation's ninth-biggest oil producer in 2006 to the second, behind only Texas. The turnaround in the state's fortunes began about seven years ago, reversing a more than 70-year trend of migration out, when more people were going than coming.
Contact Black-Peak Technology for our current employment opportunities at:
jim@black-peak.com
info@black-peak.com
The state's unprecedented oil bonanza has made it the economic darling of the nation — boasting a sturdy economy, a state government budget surplus, and its highest population ever, as swarms of people have migrated to North Dakota.
The $800,000 campaign is being paid for equally by tax-supported state funds and a donation by Hess Corp., a New York based Oil Company.
North Dakota has the lowest unemployment rate in the nation, at less than 3 percent. It is leading the nation in population growth and the number of residents in the state is at an all-time high, at more than 725,000 people, according to the Census Bureau.
The surge in economic activity and population growth has come largely from oil. The state has gone from the nation's ninth-biggest oil producer in 2006 to the second, behind only Texas. The turnaround in the state's fortunes began about seven years ago, reversing a more than 70-year trend of migration out, when more people were going than coming.
Contact Black-Peak Technology for our current employment opportunities at:
jim@black-peak.com
info@black-peak.com
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