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Background: My wife and I are in our late 60s. Up until now, we’ve used a Medicare Advantage retiree plan heavily subsidized by my former employer. We pay $1,100/year combined in premiums, with an enviable $1,500 annual out-of-pocket maximum per person. So why drop it? Shrinking Networks: Two years ago, the plan dropped my dermatologist. A few weeks ago, they notified me that my primary care doctor of 20 years will be completely out-of-network in […]
This composite case is built from patterns I see repeatedly in practice. Names and numbers are fictional. I show every calculation so you can check it and reuse the method. This is Part 2 of a four-part case study. Read Part 1 here: Retirement Planning Case Study Part 1. Read Part 2 here: Retirement Planning… The post 2 Crores in FDs, Single, 42, Wants to Retire at 50 – Retirement Planning Case Study Part 4 […]
Some perennials look completely dead after winter but remain alive beneath the soil. Hostas, hardy hibiscus, butterfly weed, and peonies can return with fresh growth, so don’t rush to replace them. Flower_Garden/Shutterstock You walk outside after a long winter, inspect your garden, and discover something disappointing: several plants you spent good money on appear completely dead. Their stems are brown, their leaves have disappeared, and there’s no obvious sign that anything is still growing. Your […]
Canada gives first-time buyers two separate tax-advantaged stacks for the same house, and the CRA lets you use both on the same purchase: the First Home Savings Account (FHSA), worth up to $40,000 of contributions plus tax-free growth, and the RRSP Home Buyers’ Plan (HBP), worth up to $60,000 per buyer. Stacked, that is $100,000 per buyer — $200,000 for a couple — assembled with tax relief at both ends. Here is how each program […]
Someone carves a roasted bird surrounded by colorful vegetables, including carrots, Brussels sprouts, and roasted garlic. Deciding whether to buy a whole turkey when you are only feeding four people involves weighing portion sizes, leftovers, and whether a smaller bird or alternative cuts might be a more practical fit. Pexels Thanksgiving grocery shopping can get expensive and stressful when everything is left until the final week. Popular ingredients may sell out, grocery stores get crowded, […]
Are you thinking of buying a home? Don’t get so caught up in the excitement that you make a horrible mistake! After years of moving … Read more
Welcome back to my series on the great retirement book The Retire Sooner Method: The 5 Secrets Behind America’s Happiest (and Unhappiest) Retirees. So far we’ve had the following posts in this series: The Retire Sooner Method: Overview The Retire Sooner Method: Overview, Part 2 The Retire Sooner Method: Secret #1, The Money Green Zone The Retire Sooner Method: Secret #1, The Money Green Zone, Part 2 The Retire Sooner Method: Secret #2, Core Pursuits […]
What caught my eye this week. Weekend Reading – featuring the week’s best money and investing articles from around the web – can be read by any logged-in Monevator member. Alternatively please subscribe to our free email newsletter to get future editions direct to your inbox. The post Weekend reading: Budget, boom, and bust appeared first on Monevator.
Seeds from grocery store lemons can grow into real citrus trees, but producing fruit may take several years. Starting with fresh seeds, warm temperatures, and well-draining soil gives your experiment a better chance of success. Olya Detry/Shutterstock You slice open a lemon from the grocery store, squeeze the juice into your water, and notice several plump seeds left behind. Instead of tossing them into the trash, you start wondering whether those seeds could grow into […]
Most people don’t have an income problem. They have a leak problem. You’ve heard “spend less than you earn” a thousand times. It’s true, and it’s also useless advice, because nobody tells you how. Well, I am hear to change that. Find Where Your Money Actually Goes Pull up your last 3 months of bank and credit card statements. Don’t judge, just look. You’ll find at least one subscription you forgot about, a food delivery habit that costs more than your car payment, and a few “small” purchases that aren’t small at all. Sort everything into needs, wants, and leaks. Cut the leaks first, because they cost you the most and give you the least. Pay Yourself Before Anyone Else Don’t save what’s left over, because nothing is ever left over. Set up an automatic transfer on payday into a high-yield savings account. If you never see the money, you never miss it. Build an emergency fund first, then fund your 401(k) or IRA to get the tax advantages. Rule: if saving requires willpower, it won’t last. Automate it. Buy Less, Live More Minimalism isn’t about owning nothing. It’s about not paying for things that don’t matter to you. Before you buy anything non-essential, ask: “Will I care about this in 30 days?” If not, skip it. Sell what you don’t use, and spend your time on free or cheap experiences: hikes, game nights, trying a new neighborhood. Treat Debt Like an Emergency Credit card interest quietly eats your future. Don’t put non-essentials on a card, and pay the balance in full every month. Then give your money a job: a home, a business, your kids’ education, retirement. Money with a purpose is much harder to waste. If you’re stuck, a financial advisor can be worth every penny. Change Your Circle Nobody talks about this one. Your spending habits are contagious. If everyone around you splurges every weekend, you’ll feel pressure to match. Find people who share your goals. Swap money-saving tips, check in on each other’s progress, and celebrate wins together. Accountability beats motivation every time. Living below your means isn’t about deprivation. It’s about freedom: the freedom to say no to a job you hate, handle an emergency without panic, and sleep well. Which of these 5 will you try first? Tell me in the A Dime Saved Community! Read More: 11 Powerful Frugal Living Tips That People Laugh At But Actually Work To Save Money 15 Things That Are a Scam but Have Been Normalized by Society 5 Things the Middle Class Won’t Be Able To Afford in Less Than a Decade I Stopped Trying to “Budget” and Started Doing These 5 Things Instead
Frugality is an art. But it’s not always implicitly about money. It’s about your way of life. Frugal Lifestyle Tips The best frugal lifestyle tips … Read more
Surely, you have heard about NFTs by now, right? The most expensive NFT (nonfungible token) with a $91.8 million price tag makes you curious about how to buy and sell NFTs and make that much money. The very idea of NFTs may still be hard to understand for most people, much more than the reality of investing and trading NFTs. Cryptocurrencies have preceded NFTs, and some confusion between the two still abounds. Where to begin, […]
We also covered questions about directing indexing, why energy stocks are outperforming, why luxury stocks are crashing, how to put cash to work in the market and more. Further Reading: Owning a Home is Not For Everyone 1Unless the reason mortgage rates are falling is because we’re living in a financial crisis of course. The post Is Buying a House Now a Bad Investment? appeared first on A Wealth of Common Sense. …