Good Financial Read: Strategies For Saving


    Saving strategies

    You need to PLAN not to make good money decisions

    by Mindy Crary, Creative Money

    Last week I introduced the concept of becoming aware of your money decisions and developing a purposeful intention in how you use and manage money in your life. This week I want to show you how you can organize that for yourself.

    Why? Because it will completely change the way you approach every aspect of your life that has to do with money. You see, I firmly believe that the way personal finance is taught these days just sucks – and most of the time it doesn’t make sense to a lot of people. You need to understand how to handle money if you want it to meet your commandments.

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    [Video] Savings strategies for high earners

    by Robert Stoll, Financial Design Studio

    One of the most common questions we receive from high earning entrepreneurs and executives is: How can I save more money for retirement?

    Let’s look at the 401 (k) limits for 2020. You can pay $ 19,500 ($ 26,000 if you are over 50) into your 401 (k) input tax. While that’s a good amount depending on your expected retirement lifestyle, it may not be enough to help you live comfortably in retirement. In this video and post, we look at retirement saving strategies and tax saving tips for high earners.

    [Watch the Video]

    How can I strategically save more?

    by Natalie Slagle, Fyooz Financial Planning

    Let’s go back a decade or two. You went to college and starved for nutrients and cash flow. The task was to get through the month with tombstone pizza and $ 348 in your bank account. Fast forward a few years to get your first job after college. You enter in the unpleasant work clothing that you received 3 years earlier for your first internship. Here you are today with a completely different outlook on life. Your income is much higher, your vegetable consumption has increased dramatically, and your work clothes are much more appropriate.

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    Is Lifestyle Creep Holding You Back?

    by Massimiliano De Santis, DESMO investment advisor

    When I finally got out of school and started getting a decent paycheck, my first thoughts were mostly about all the things I could spend the extra money on. That nicer car, a new bike, better hotel and restaurant choices, and more. If you feel that this applies to you, know that it is very natural and very common. In the personal finance world, the steady increase in spending with increasing income is referred to as lifestyle creep. A certain lifestyle creep is good and understandable. After all, we work hard to get the things we like. However, there is a risk of getting used to spending habits that will hamper your ability to achieve more meaningful long-term goals.

    [Read the Full Article]

    Following financial advisor blogs is a great way to access valuable, educational information about finance – and it won’t cost you anything! Our financial planners are happy to share their knowledge and help everyone, regardless of age or wealth.


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