Why You Shouldn’t Depend on Social Security Anymore

If you’re one of those people that intend on relying on social security for their retirement, you shouldn’t. While social security is intended to be used by people when they reach their retirement age, it may not be around for that much longer. In order to properly plan for your retirement years, you should assume that you’ll be paying for it all yourself without depending on social security. Although that may not be desirable for some people, it may be inevitable based on the current data. It’s said that younger workers who have higher-incomes shouldn’t intend on getting the same level of benefits that everyone’s parents and grandparents are receiving. Rates may be even lower by the time the current generation reaches their retirement age, or even may be completely gone again.Continue Reading

The Political Pull: How Political Decisions Can Affect Your Finances

Despite the fact newly emerging entrepreneurs of small businesses think of themselves as exerting independence, at some point they must come to realize that the financial success of their small business is subject to the political environment of their intended operation and that their aspiring efforts for financial success are greatly affected by political decisions. In addition to self-preparedness, business savvy and being equipped with a well developed business plan, pursuing small business dreams of acquiring financial success entails determining whether political decisions will support or end those dreams. Newly engendered small business aims trying to balance the demands of time needed for product branding and establishing a growing customer base, while maintaining adherence to required financial and regulatory compliance, can be overwhelming.Continue Reading

The Aggression Route: A Financial Strategy

Anybody who was not born rich has at some point in their lives been told by somebody else that they need to save a little bit of money from each of their paychecks so that they can be rich when they retire. The only problem with this, slow and passive strategy, is that nobody in their right mind thinks that it is better to be rich decades from now, rather than to be rich in the present. Everybody knows this, but many people stick with a passive investment style just because it’s safe, or because they don’t want to do any research that will help them make more money from investments. If a person does not mind doing some work, and wants to become wealthy while they are still young enough to fully enjoy their wealth, then they need to switch to an aggressive investment strategy. Continue Reading

Staying Organized: Your Financial Checklist

It might be overwhelming thinking about where to begin to stay organized and keep the financial aspect of a person’s life in order. Using a step by step process will make it a more manageable transition and rewarding experience for everyone involved (i.e. a spouse, family, etc.). When reorganizing the finances it is also the perfect time to refresh any goals, set new priorities and thoroughly review the finances. Take time to learn more about the attitudes everyone shares regarding finances, be sure to resolve any differences, and open the door to family discussions about how to handle money responsibly. Continue Reading