The last thing family and friends want is for you to spend money on them that you don't have or that you can't really spare.
It pays to be a fee fiend.
Remember: If the IRS suspects you haven't reported income, it can challenge returns from the past six years. So if you are self-employed or have multiple income sources, hold on to six years of files to be absolutely safe.
A revocable living trust allows your heirs to avoid probate entirely and keeps you in complete control of your finances while you're alive. You can always make changes to what's in the trust and to how you'd ultimately like it managed or disbursed.
Anything that gets people to think harder about their financial security and take some responsibility is a good thing.
Time is key to building your financial security.
I simply want you to give to yourself as much as you give of yourself. By taking care of yourself financially, you will truly be able to take care of those you love.
Learn to recognize true wealth. Money itself will not make you financially free. That comes as a result of only that powerful state of mind which tells us that we are worth far more than our money.
The foundation of a financial fresh start actually has nothing to do with money or specific financial dos and don'ts.
Money you won't need to use for at least seven years is money for investing. The goal here is to have your account grow over time to help you finance a distant goal, such as building a retirement fund. Since your goal is in the future, money for investing belongs in stocks.
While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.
So many financial dreams are thwarted by the failure to act upon good intentions.
Sometimes poverty is the greatest gift you can ever be given. Sometimes loss is the key that leads you to gain.
Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.
It's easy to underestimate the real cost of home ownership.
Every time you overhear something hurtful, I want you to do something kind for someone else.
You must recognize, embrace, and be honest about what is real for you today and allow that understanding to inform the choices you make. Only then will you be able to build the future of your dreams.
You must trust yourself more than you trust others. Pay attention to your inner voice - it will tell you if how and in what you are investing is right for you.
Make it a priority to have at least eight months of living costs set aside in a federally insured bank or credit union account.
The key to making money is to stay invested.
