What are options for cash emergencies?


Sometimes no matter how well you plan you can face bad luck in life.   Between cars, homes, apartments, medical bills, and just general expenses life can knock you back. While many financial professionals all state that you should have 6 months of your salary saved for an emergency, many of us know that is just impractical.  It’s hard to save 6 months of your salary in the world today. So, what do you do when a disaster strikes? Here are some things you can do. First, you can get a short term loan.  One option is to get a car…

How the Three Major Credit Bureaus Compare


Ever wonder where your credit report comes from? The answer is simple: the credit bureaus. Equifax, Experian and TransUnion represent the three largest consumer credit reporting agencies in the U.S. All three bureaus collect information about your financial accounts and use them to generate your credit report. The information in your report is then used to calculate your credit score, the three-digit number lenders use to make credit decisions. But, your credit score with one bureau may not be the same as the other two. That’s because the three credit bureaus don’t always use the same information to create your…

How Society can Affect Your Net Worth.


The song "No man is an island, no man stands alone" says it all, even down to how much wealth we might accumulate in our lifetimes. Society affects each of us - what we give and get from others. Others affect us. How can society affect our net worth? We want to fit in. For the human condition, there is safety in numbers. Our remote ancestors found this to be true when fighting off the beasts and we still see and feel the need to be part of a group. Often times, we benefit from being part of a group.…

Money Books to Read with Tweens


It is quick, easy and usually fun to read books about money, saving, spending, giving and managing to our little ones under the age of 7. But once kids enjoy reading on their own, it can be difficult to wade through those longer chapter books without all those colorful pictures in a read-aloud environment. The books must be engaging, teach a relevant lesson, be easy enough for ages 7 - 9 to read, yet not so simple that the middle schoolers feel insulted. Tooth Paste Millionaire by Jean Merrill This is a classic book written in 1972 touches on many…

How to Have Enough Money for Retirement


Did you know that we are living longer, more active lives?  While you might not feel it in the morning, but today’s 70-year-old male has a high probability to will live well into their 80’s – maybe even your early 90’s. If this is the case then having enough money for retirement is going to a big challenge.  Here is why.  If you are like most people, then you probably expect to retire sometime in your 60’s.  However, living a longer, more active life means that you will be retired for 20 or even 30 years. As such, you need…

Little Know Facts About Retirement Distributions


You've been religiously contributing to your retirement funds for years. Your employer 401K may be your largest investment account. Understanding what you can do and should do with it are huge factors in your successful use of the retirement funds. I retired in 2010. Here are a few things that surprised me when deciding how to take my distributions. Background My company retirement funds were divided into two plans. When I first started, the company made all the contributions and it was all in company stock. Later, when they switched to a combination profit sharing/401k plan, the company shares just…