I avoid specific financial recommendations on this blog because I am not qualified to make them. That doesn't mean I won't share what has worked for me. My recent guest post on Pick The Brain is a good example. I am not promoting a product, just an approach. You can decide if it works for you.
On of the biggest benefits of the Internet is the ability to access all sorts of information on every subject. Of course, that is one of its biggest dangers. Anyone can claim to be an expert and post anything. Then, it is up to you to decide if the information is valid and useful to you.
I have put together a list of 9 links to financial-oriented posts I have read and believe are worth your time. Do I agree with every point on every post? NO. But, I'm not the gatekeeper who wants to pick what might be best for you. I invite you to click on any of the underlined links that sound interesting. Leave me a comment at the bottom of this article, or e-mail me if you prefer, about which articles you enjoyed or found helpful. Also, please let me know about any that you feel strongly I should have avoided.
*How Much Money Will You Need to Retire? Sydney doesn't give an exact amount. But her piece for US News.com is an excellent summary of what you may face.
*Delayed Retirement and Money Problems The author walks you through a few scenarios to help you decide if delaying retirement is your best financial decision.
*Retirement-Can I afford to Retire? Dave tackles some of the same issues in his more personal writing style. He provides several additional links if you want more.
*60% of Boomers Don't Have Enough Money to Retire This is a repost from the Huffington Post. It isn't meant to scare, but to inform. How do you stack up?
*How Personal Finances Change as You See Success The author takes the very sensible approach of using money to benefit you, instead of allowing it to control your life.
*9 Must-Do’s To Keep More Of What You Make Phil's article from Pick The Brain is like a page from my playbook. His suggestions are on-target.
*Are Retirees More Financially Agile? Sydney's conclusion is, "Yes." And, that is good news.
*Getting Real Value from Budgets All about the importance of budgets. Can you hear me singing along in agreement?
*Why money is only part of a satisfying retirement Finally, to wrap up this list of links, an article that brings us back to the most important financial fact of all: money is a tool and only one tool required to have a satisfying retirement.
Thanks to Jeni for the nice e-mail. I'm happy you found several of the links useful. I'll do a followup article with more in a few weeks.ReplyDelete
Keep up the good work. I enjoy your posts, but don't usually comment unless I have something meaningful to share or ask.
One financial suggestion for parents with children they still support is to provide them a stipend every six months. We started our program when each child reached 8th grade, and continued it for each through college. The stipend teaches the child to manage their discretionary spending. The stipend is provided in a lump sum to cover items such as fuel, entertainment (school dances, including dresses and ties, youth group trips to amusement park, school sports events, etc), clothing, etc. There was also a required 10% to charity to be paid from the stipend. Any funds not spent were theirs to keep, and of course if their expenses were more than their stipend then they paid from their savings. We encouraged each child get a credit card in high school to built credit and learn to manage this tool under our watchful eyes. We believe it taught them valuable lessons and aided their independent development, and took stress off us parents as we didn't have to make ad hoc decisions on various child requests for money (since we didn't have any to make as each child had their own stipend to manage).
There is little I could add to such a complete and well-reasoned comment. Your family's approach was creative and instructional. Congratulations on finding a great way to help your children learn some very important lessons.ReplyDelete
I appreciate you taking the time to share.
I really like the last link, "Why money is only part of a satisfying retirement". It's definitely the truth. Thanks for the links Bob!ReplyDelete
Yes, I like that blog, too. He writes in a very conversational way that's easy to understand. I'm glad you found it helpful.ReplyDelete
Nice collection of links - there sure is a lot of good information on the internet these days. The challenge is wading through everything to get down to what is most relevant. I appreciate your links to LoveBeingRetired as well!ReplyDelete
You are quite welcome for the links. Your information is good and easy to grasp. Keep it up!ReplyDelete