Tag Archives | prudent plan

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Just where does the fear of outliving our money come from? Part I

You see the headline all the time that has something to do with basically these four words: Risk, Outliving, Longevity and Money. The viewpoint that you may outlive your money because of increasing longevity (people are living longer) is based on a faulty assumption! That assumption is built into calculations the profession uses when estimating retirement […]

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College Scorecard website and more

The College Scorecard website, from the U.S. Department of Education, helps high school students, and others, find and compare colleges and universities across the country based of various search characteristics. Results have been revamped to show average cost of attending, graduation rates, and average graduate salaries compared to the national average. Another website is Educate to […]

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Rent vs Buy? What are the considerations?

Before you consider obtaining more debt for a mortgage, how much mortgage should you get? Lenders look at what is called your debt-to-income (DTI) ratio (with target ratio percentages). So what is your DTI ratio? This calculator determines your DTI for you and also discusses the various considerations debt may have. Both sites above help […]

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Already receiving Social Security – you might need a check up!

Security Planning isn’t just for people who haven’t claimed yet. People who are already receiving Social Security often forget about other benefits they may be entitled to after having filed. The wise owl circles back to review things they’ve done in the past to be sure something wasn’t forgotten! This is not second guessing – it […]

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Social Security and Survivor Considerations

Did you know that Social Security for couples has a built in pay cut for survivors? How does that happen? Retirement has three basic phases for couples: Phase 1: Both are here – Retirement Plan. Phase 2: One is here as the survivor – Survivor Plan. Phase 3: Neither are here – Estate Plan. Most couples […]

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Spending Shocks, Budgets and Savings: Working and Retired

Whether you are still working, or retired, most people haven’t structured their budgets for spending shocks. In truth if you spend less than you could, regardless of working or retired, you build in a buffer that helps keep stress on your financial life lower. Most recognize the below as logical. Yet, many spend everything that comes […]

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Debt – what happens when you’re gone?

Most people have a better understanding about inheriting assets. But few understand what happens with debt! “What Happens to Your Debt After you Die” in US News by Geoff Williams talks about the cautionary tales of not understanding what debt may be forgiven and what debt must be paid. Thus … your actions before going may put your […]

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