Thursday Links – January 28, 2016

Investing

9 Investing Stats That Will Blow You Away Have a retirement plan where you save diligently and invest effectively, perhaps in index funds and/or dividend-paying stocks. Beware the erosive power of inflation and steer clear of day trading. Enjoy your house, but don’t plan on it making you rich, and be tax-smart, by aiming to invest for the long term.

Retirement

Are you saving enough for your retirement? Perhaps the market turmoil has you rattled, or you made a New Year’s resolution to clean up your finances. Or new projections about rising health-care costs have you jittery about making your savings last. Whatever your reason, January is an excellent time to take stock of your savings behavior and make sure you are socking away enough for retirement. While it sounds like a good plan, the fact is, many of us are not doing anything. Only about 58 percent of workers have access to a workplace retirement plan, and only 49 percent of workers are participating in one, according to research by the Pew Charitable Trusts. Even when people do save, they are not putting a lot away. To that point, 57 percent of workers in the Employee Benefit Research Institute’s 2015 Retirement Confidence Survey who provided this type of information said they had less than $25,000 saved for retirement. And while many respondents estimated what share of their earnings they should be saving, more than 1 in 4 had no idea.

Obama trying to make it easier for retirees to gain access to their money. Changes that President Obama will propose to employer-sponsored retirement plans could help 30 million American workers have access to retirement savings. (USA Today)

Haven’t Saved Enough For Retirement? Forbes provides a list of nine ways to help you catch up. (Forbes)

 

Your Money

Safeguard your money – Here are four tips to help you protect what you’ve already earned and saved

Three Easy Ways to Make Your Money Last a LifetimeThe Social Security Administration estimates that the average 70-year old woman will live to nearly 88 years old. Unfortunately, those next 18 years are likely to include a lot of unexpected spending on medical care. Will the money you worked so hard to save still be there when you most need it? Read on to find out what strategies our Motley Fool contributors think could help make sure that it is. (The Motley Fool)

The Top 10 Most Embarrassing Money-related Topics – Being financially literate, or understanding all aspects of your financial life, is crucial to becoming confident about money. But often, we’re too embarrassed or uncomfortable to talk about money openly. According to a 2013 Wells Fargo survey of over 1,000 adults, 44 percent of respondents said “personal finances” is the hardest topic to discuss with others, followed by “death” at 38 percent and “politics” at 35 percent. (USNews.com)

how to make your money lastHow To Make Your Money Last – In recent days, I’ve had the great pleasure of examining Jane’s latest of nine books — How to Make Your Money Last – the Indispensable Retirement Guide. The book is a true treasure chest of financial secrets, tips, how to’s, and advice for anyone who is about to retire or has retired. I’ve written about personal financial planning for years and think I have a pretty strong knowledge base, but I learned something important and new every page or two.

 The book is also of tremendous value for working people, including those just starting out. For example, Jane’s description of how to navigate the Affordable Care Act may be the single best quick operating guide around for anyone using the new health exchanges.

The book starts by easing the reader into a retirement mindset. Jane makes clear that the financial and personal anxiety that many experience when they first retire is commonplace. She then provides a guide for taking full control of this phase of our life, not just from the money side, but also from the psychological side.

Real Estate

How Has Buying a Home Changed Since Your Parents’ Time – Millennials, well, older millennials, are the largest group of first time home buyers today. If you’re part of it and thinking about buying your own place, you might naturally turn to Mom and/or Dad for advice. Good call. But be aware that things have changed quite a bit since they bought their first home—you know, the one you grew up in, stealthily sneaked into at 2 a.m. as a teen. (Realtor.com)

Buying a home in 2016 – Here’s what you need to know – Owning a home is part of the American dream. It’s also a great way to build long-term wealth, establish security and comfort for your family, and potentially reduce your living expenses both today and later in life.  But before you take the plunge, there are some important things that every prospective homeowner needs to know. Not only can these things help you go into the home-buying experience with a better idea of what to expect, but they can also save you money today and better prepare you for the experience and costs once you actually become a homeowner. (Motley Fool)

Ready to Refi? – Interest rates on mortgages fell for the 4th consecutive week as economic worries maintain a stronghold over international markets. (Bnakrate)

How to choose the best mortgage – Buying a home is probably the largest purchase you’ll make in your lifetime. And choosing the right mortgage is one of the most important decisions you’ll make in the homebuying process. With so many different options out there, it can be hard to find an affordable home loan that meets your financial goals. (Christian Science Monitor)

 

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