Tag Archives | standard of living

Photo by Mike Birdy

Home buying: Prequalification? Debt ratios? Rent vs Buy?

Home buying can be daunting, even for those who’ve done it before. The question of getting loan approval can be tricky. Having your debt to income ratios evaluated for loan qualification is also confusing to some. The Consumer Financial Protection Bureau (CFPB) has a good short description as to the difference between pre-qualification and pre-approval.  […]

Continue Reading · 1
simple steps

What is inflation? Is it really important?

Inflation is a persistent increase in general prices in an economy which results in a loss of purchasing power. The effect of price increases is insidious because we remember what the price was a short time ago, but not prices longer ago. Let’s take a look at both how prices have gone up and the […]

Continue Reading · 1
2014 tax rates

Myth – Your taxes will go down in retirement

This thought is so wide spread it is commonly accepted as truth. In fact, this seems to be so ingrained it is almost an excuse not to have to save that much for retirement  … “Why save so much when taxes will be less?” So why do I say this idea is a myth? Let’s walk through this by starting […]

Continue Reading · 1

19 things the Millionaire next door won’t tell you – Business Insider

The Millionaire Next Door is a term coined by Thomas J Stanley and William D Danko in a book by the same title. How To Act Like A Millionaire – Business Insider by Len Penzo summarizes 19 differences between conspicuous consumption and how one truly gets wealthy. Rather than spell them all out here, you can quickly click through them through the […]

Continue Reading · 0
spending too much

Think you will spend less later?

Think again! Here’s the problem this misperception leads too … retirees spend too much early on, and then don’t have any money left when they’re old. This well made point is in the short article, The Notion That You’ll Spend Less In Retirement Is Totally Misguided by Jill Krasney, Business Insider. This may be a sentiment to justify not having […]

Continue Reading · 1
long term

When you need help with daily living activities …

People do not want to think about needing long term care. Most often, we think of this as an old-age issue. However, injury or illness that takes away your ability to bath or dress may also trigger long term care needs and benefits. Additonally, advances in medicine mean that life is now extended such that the risk goes […]

Continue Reading · 6
take a guess

Retirement Plan Participants Guess at Savings Goals

This article, by Danielle Andrus at AdvisorOne, talks about the large percentage of retirees who guess at how much they need to retire. These numbers about how many people are guessing are scary! There is no need to guess. There are easy and rational ways to answer the questions when can you retire and how much you need beyond Social Security […]

Continue Reading · 0
ends meet

Live within your means – what does that mean?

Most people think of living within their means as being without debt. Well, that’s part of it. But, my experience working with people it that they are still over spending. How can that be if they’re debt free? Doesn’t this mean that they are making ends meet? That they’re not spending more than they make? […]

Continue Reading · 2

What is the difference between Disability and Long Term Care insurances?

            Disability usually covers lost salary or wages. Long Term Care means convalescent care (not acute care that is covered by health insurance or Medicare/Medicaid/Medi-Cal). Insurance addresses the issue of WHO is going to pay the expenses should the condition occur. No insurance means your assets do. 0812 differencedisability from […]

Continue Reading · 3