Financial Planning, Retirement Plan, 401k, Investment Blog

Financial Planning, Retirement Plan, 401k, Investment Blog

Archive for March, 2009

Financial Literacy- Does It Still Work?

Posted March 30, 2009 by Bernz

Financial literacy means being savvy with your cash flows and understanding your financial transactions in order to make better decisions that will protect and increase your wealth. Many feel that financial literacy is no longer useful or relevant in the face of our current economic meltdown. They feel that, no matter what consumers know or do, they will be hurt in this recession.

However, financial literacy is more important than ever. Understanding your financial position and how to navigate through tough economic times will give you a leg up in ensuring your financial security.

The people who will survive and thrive in today’s economy are those who have a handle on their personal finances. They know what they own and what they owe and they know where the cash is coming from and going. Every dollar that comes in has a name- meaning they know exactly where it is going.

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Posted in 401k, Debt, Estate Planning, Financial Education, Financial Goals, Index Funds, Investing Basics, Investing in Real Estate, Investing Strategies, IRA, Life Insurance, Loans, Mutual Funds, Retirement Planning, Roth IRA, Saving for College, Saving Money, Simple IRA, Stock Market Investing, Tax Reduction, Traditional IRA, Wealth Building | No Comments »

5 Money Savings Tips You Can Benefit from Today

Posted March 27, 2009 by Bernz

When people become concerned about money, their first thought is that they’re simply not making enough at their current job. Well, switching jobs or even getting a significant raise are both tough things to accomplish within a short period of time. So, what can you do if you need more money? The answer is simple, look to you.

Most people are spending hundreds if not thousands of dollars each and every month on things that they do not need or are simply unaware of the money that they’re losing from not keeping track of it properly.

Below are five money-saving tips that you can begin using today to help you save hundreds of dollars or more every month.

Make a budget

Making a budget seems like a simple thing to do, but most people never do it. Simply writing down every single expenditure that you have on a monthly basis as well as writing down every single thing you buy will help you get a fantastic picture of just exactly where your money is going. Simply start crossing off the items that you don’t need and reap the benefits of the savings.

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Posted in Financial Education, Financial Goals, Frugality, Saving Money | No Comments »

Is This the Market of a Lifetime?

Posted March 25, 2009 by Bernz

It’s difficult for even the best prognosticators to get a handle on the stock market these days. The massive recession-that-might-be-a-depression that has gripped much of the industrialized world has brutalized stock markets in the US and abroad. Pension funds, college funds and savings accounts have all been hard hit. Recently, CNBC’s Jim Cramer took a verbal beating from Jon Stewart about his inability to predict the crash.

The Dow Jones Industrial Average has dropped to its lowest level in 12 years recently and continues to test that limit. But even with all of the warnings about the dangers of the market right now, some wise investors are in collection mode.

So, is there opportunity in the stock market right now or only grief and despair? Optimists point to the fact that all stocks are getting punished regardless of their fundamentals. That means that there are stocks that are currently undervalued lurking out there. The tricky part is finding the ones that will both weather the remainder of the recession and also do well when the markets turn around.

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Posted in Financial Education, Financial Goals, Index Funds, Investing Basics, Investing Strategies, Stock Market Investing, Stock Watch | 1 Comment »

Retirement: Do You Plan on Working After Age 65?

Posted March 23, 2009 by Bernz

A generation ago, it was taken for granted that people would work hard at their jobs until their 65th birthday, then retire to a life of leisure. Most companies provided their long-term employees with retirement plans that made their post-work years comfortable.

Today, however, workers are navigating a whole new employment landscape. Jobs are more transient than they once were. Workers are changing jobs and employers more often. Retirement packages are not a given any more and employees are lucky to find one that provides fully for the retired life. (more…)

Posted in 401k, Career, Estate Planning, Financial Goals, IRA, Retirement Planning, Roth IRA, Saving Money, Simple IRA, Traditional IRA | 1 Comment »

How Can You Tell if the Company You Work For is Going Under?

Posted March 20, 2009 by Bernz

It’s a sign of the times. Companies of all sizes and in all industries are fighting to stay afloat in today’s rough economic waters. Employee layoffs are at an all-time high and companies are closing up shop at an alarming rate.

The illusion of job security is just that- an illusion. Employees are finding that keeping the resume dusted off is their only defense strategy against a sudden layoff. Losing a job in the current economy is a triple threat. There is less likelihood that there are other suitable jobs out there, the employee loses company-sponsored health care at a time when he or she is least likely to be able to pick up the tab, and unemployment means less money for skills upgrading or education.

As the old saying goes, the best defense is offense. Preparing ahead of time for a layoff puts you in a stronger position in case it actually happens. The first line of offense is looking for the writing on the wall. Knowing that the company you work for is struggling to survive is the first warning that imminent unemployment may be lurking on the horizon. How can you tell that your company is on shaky ground? Here are three signs to watch for.

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Posted in Career, Misc | No Comments »