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As the seasons change, the allure of spending time outdoors grows stronger. But what’s an outdoor space without the perfect setup? DIY outdoor furniture and planters offer a unique opportunity to personalize your garden, patio, or balcony, transforming it into your own oasis. Whether you’re a seasoned DIY enthusiast or a beginner looking to dip your toes into creative projects, there’s something incredibly satisfying about building something with your own hands. Crafting your own outdoor […]
Before the article, check out the latest on my podcast, Personal Finance for Long-Term Investors: On Apple Podcasts On Spotify On YouTube Now, here’s today’s article: Podcast listener Corey wrote in and said… I’ve gotten very serious about personal finance recently and have consumed a large amount of personal finance content over the last 18 months. Something I’ve noticed to be lacking is how to plan and account for healthcare costs during all phases of your retirement planning. I think most people would agree that it represents a huge aspect of an individual’s or family’s financial picture and I think the argument could be made that, on average, it is a poorly understood topic by the general public. I think Corey makes a great point, and I’m happy to admit I fall in that camp. I know my fair share about portfolio this and account type that. Saving on taxes, when to claim Social Security. I’ve got my facts down. When it comes to Medicare, IRMAA, some of those ideas, I can poke my way around. But Corey’s question caused me to dig deeper into this question than I ever had before. Now that I’ve dug and dug and dug, here are the 4 stages of healthcare during all phases of your retirement planning. Healthcare Costs While Working Most American employees have an employer-sponsored group plan. It might be worth defining some terms here, like premiums, deductibles, copays, and out-of-pocket maximums. Think of premiums as your monthly membership fee for having health insurance. You pay your premium every month, whether or not you go to the doctor. It’s the cost of staying in the club, so your insurance is active and ready when you need it. Your deductible is the amount you must pay out of pocket each year before your insurance coverage kicks in. Example: If you have a $2,000 deductible, you pay the first $2,000 of your medical bills yourself. After that, your insurance starts chipping in. A co-pay is a fixed amount you pay when you receive certain services. For example, you might pay $30 every time you visit your primary care doctor, or $10 for a prescription. Co-pays usually kick in even before you’ve met your deductible. The out-of-pocket maximum is the the most you’ll have to spend in a year on covered health care. It’s your “ceiling.” Once you hit this number, insurance pays 100% of covered expenses for the rest of the year.It includes what you pay toward deductibles, co-pays, and co-insurance (if your plan has that too). Some healthcare plans allow you to open a Health Savings Account, or HSA. If you haven’t heard of it, it’s a fantastic account with a so-called “triple tax advantage.” You get to invest tax-deferred on the front end. You can invest your money in an HSA, and it’ll grow tax-free. And then when you spend on healthcare costs, your withdrawals are tax-free too. For Sudden
My new book, The Art of Spending Money, comes out next month. You can pre-order it here. I wrote this book because I found there to be too much advice on building wealth but almost none on what to do with it. This book is not called The Science of Spending Money because I don’t think such a thing exists. I’m more interested in the art of spending money. Art can’t be distilled into a […]
A preschool money craft that will help teach young children a bit more about how money works (in a fun, visual way). I’m excited to share this preschool money craft because it’s going to help young children start wrapping their heads around some important money concepts. We want kids to understand their role in deciding how money gets used, and that money can be used in various ways. To keep this on a preschool level, […]
The iconic Morgan dollar is the most collectible coin in the United States. Collectors consider it a prized memento of 19th-century America, valuing it for its roots in the country’s Westward expansion and industrial development. Beyond that, it is made from silver, giving it intrinsic value. If you have one, you could earn a fortune. Understanding the Value of Your Morgan Silver Dollar Photo Credit: Shutterstock. As “the king of America’s coins,” the Morgan silver […]
Doom and Gloom! My Summer sunning myself off work has turned into an Autumn of Unemployment! I don’t know whether to be all Chicken Licken or Panglossian in what seems to be a dreadful situation for me and the old family finances. Looking back, there were signs that all was not well at the company that I was working with. There was talk of mass layoffs at some of its offices around the country and […]
If you’ve been Googling “how to increase income” lately, you’re not alone. Inflation isn’t playing nice, interest rates are still stubborn, and groceries cost more than your last weekend getaway. But here’s the good news: 2025 is one of the best years yet to make more money, if you know where to look. Forget the outdated advice about cutting lattes and skipping avocado toast. That’s cute, but it won’t change your life. The real game-changer? […]
I am delighted to announce that Fates on Fire’s first print offerings are coming to Kickstarter on OCTOBER 7TH, and I couldn’t be more excited! If you’ve followed us for a while, or if you’re new and enjoy music-related reads, then you will love my books, Post-Punk Road Show and Rock ‘N’ Roll Zero: Singles & Rarities, available in limited special print editions and as an ebook. All the relevant information can be found below, including […]
Transcript Email Download New Tab Vanessa Van Edwards 0:02 I try to like everyone, but there are definitely people where I’m like, wow, I’ve tried. I have asked good questions. I have tried to find similarities, and we’re just like radically different core values different. Great. Now I know, I now know that is not my person. Actually what research finds is ambivalence in relationship is more draining than toxic. Intro 0:28 T-minus 10 seconds. […]
It’s been a long minute since I posted, and for that I apologize. Things are still in flux and I am trying to find balance. Maybe I’ll find it in Portland? That’s Portland, Oregon, not Portland, Maine, and it’s the site of FinCon25. I’ll land on Tuesday, Sept. 9 and go home on Sunday, Sept. 13. Anyone interested in a meetup? That could be for coffee (in my case, an iced tea), breakfast, lunch or […]
Robo-Advisor vs. Target Date Fund: A Comprehensive Guide Do you want a set-it-and-forget-it investment strategy? Are you seeking the greatest return for your risk level? If you’re saving for a future goal, such as retirement or paying for college a decade in the future, you want a sensible investment strategy that will deliver the funds, when you need them. Choosing the right investment strategy can feel like navigating a tumultuous sea. Two popular options for both newbies and experienced investors are robo-advisors and target-date funds. Both simplify investing, they have distinct similarities, differences, pros and cons. Despite managing the majority of my own investments, I use a robo-advisor for one of my retirement accounts. Understanding the nuances of robo-advisors vs target date funds, including personalization, diversification and fees, is crucial to making an informed decision that aligns with your financial goals and risk comfort level. This comprehensive guide delves into the intricacies of robo-advisors and target-date funds, highlighting key features, advantages, disadvantages, and ultimately helping you determine which path might be the better fit for your investment goals. One or our favorite investment platforms, M1 combines both target date fund options and expert portfolios with rebalancing (I have an account with M1): Understanding the Basics: Robo-Advisors Robo-advisors are digital platforms that provide automated investment management services. They utilize sophisticated algorithms and modern portfolio theory to build and manage investment portfolios based on your financial goals, risk tolerance, and time horizon. Within the robo-advisor category, there are many distinctions with some robo’s providing financial advisors and others offering advanced customization options. Fees range from zero on up to more than 0.70% of assets under management. [embed]https://youtube.com/watch?v=Cz97_Hunc0Y&si=PW4ErV-AIhi1paTN[/embed] How Robo-Advisors Work: Most robo-advisors have a similar set up. Onboarding and Profiling: You typically start by answering a questionnaire about your financial situation, investment goals (e.g., retirement, down payment, general wealth building), time horizon (how long you plan to invest), and risk tolerance (your comfort level with potential market fluctuations). Portfolio Construction: Based on your responses, the robo-advisor constructs a diversified portfolio, generally comprised of low-cost exchange-traded funds (ETFs) that invest in a mix of stocks and bonds. The specific asset allocation (the percentage of your portfolio allocated to different asset classes) is tailored to your risk profile. For instance, a younger investor with a long time horizon and higher risk tolerance might have a portfolio with a greater stock allocation, which historically offers higher growth potential but also carries greater price volatility. Conversely, an older investor nearing retirement might prefer a more conservative portfolio with a greater allocation to bonds, which tend to be less volatile. Automated Management: Once your portfolio is set up, the robo-advisor takes over the day-to-day management. This includes: Rebalancing: Over time, your initial asset allocation can drift due to the different performance of the underlying investments. Robo-advisors automatically rebalance your portfolio to bring it back in line with your target allocation, ensuring your risk profile remains consistent. For example, if stocks
The 2025 PGA Tour season wrapped up this past weekend with a great redemption story after Tommy Fleetwood won the Tour Championship at East Lake in Atlanta. The win was his first since joining the Tour eight years ago, netting him the biggest payday of his career ($10 million). The weekend also marked the end of LIV Golf’s season, nearly four years after the Saudis launched the new tour and poached a number of the […]
Saving money can be an uphill battle at times, and often can seem impossible. It can feel like something is always coming up that you didn’t plan for and it screws up the whole month, and can even make you feel like you will never be able to catch up. Just be sure to remember, … Read More about Easy Weekly Savings Plan to Actually Save Money in 2025 The post Easy Weekly Savings Plan to Actually Save Money in 2025 appeared first on Budgets Made Easy.