We all have our own unique relationship with money. This typically evolves from money scripts or our views of money that are deeply rooted in our childhood and impact the way we view money. We certainly have our own unique way of both spending and saving money.
However, if you’re ready to start putting some money aside, or looking for tips on money management, or even the best way to pay your bills, the following tips may provide a little bit of help:
How to Avoid Retirement Woes
According to the American Institute of CPAs (AICPA), the top concern of retirees is running out of money. For those especially working in corporate careers, there are many great options to effectively save for retirement.
High-3 and New BRS
Did you know that the Department of Defense estimated that 83 percent of military personnel exit their service before 20 years? In fact, before 2018 people who joined the military and did not stay long enough to retire, basically got nothing towards their future retirement.1
Americans love to drink coffee on average consuming two cups per day. Getting coffee on the go is common, but this can cost $3.50, or more, for a Cup of Joe, which costs around $100 per month or $1,200 per year on coffee! By pocketing the $3.50 for coffee each day and investing it instead in a low-cost, diversified Roth IRA, you’d have an estimated $106,000 after 30 years.1
Crisis of Retirement Savings
Nonprofit executives pour their hearts into important causes such as providing food and shelter to the needy, counseling troubled veterans and staging live theater and music. But nonprofit organizations and executives often fall short taking care of themselves in saving for retirement.1 This is especially the case when working for smaller nonprofit organizations that may offer no retirement plan to its employees. These corporate executive then becomes responsible for saving for retirement on their own.
For some, there is a dream of being able to retire early from their corporate career. You have worked hard, and have risen the ranks, taken on increased responsibility, earned more, and want to be able to have an off-ramp at the appropriate time. Perhaps you want to pursue another passion, a new career, spend more time with family, or simply travel abroad. To retire early, there are several important strategies to consider for those, especially in corporate careers.
How to Build a Realistic Budget and Stick with it
At the core of any successful financial enterprise in San Antonio, be it a household or a business, is a sound and effective budget plan that is used to drive all cash flow decisions, large and small, on a daily basis.