Category Archives: Saving tips

Things to Know About Retirement Planning

Although most people will spend at least 20 years retired, many have not planned for retirement. For example, many of those with access to retirement plans through their jobs don’t even contribute. Planning for retirement should involve diverse retirement funding options.

Image by mohamed Hassan from Pixabay

Goals

When you begin your retirement planning Wyckoff NJ, consider your retirement goals. For example, do you plan to travel, will you have outstanding debt and at what age do you plan to retire. Then, consider how long you have to work to fund these goals.

Saving Options

Your employer’s retirement plan, such as a 401(k) or IRA should be used to save for retirement because you receive tax deductions for contributing. Those who are self-employed can contribute to a solo 401(k). In addition, many employers match contributions up to a certain percentage, which gives you free money. If you contribute to an IRA as well, you may receive a tax credit of up to $1,000. Roth IRA contributions are made post-tax, but all your retirement withdrawals, including interest and dividends earned, are tax free.

Plan for Increased Costs

Inflation will have a significant impact on your retirement. Each year, your money is worth less and less, and even a low inflation rate of 3% may have a 25% reduction on your money’s value within 10 years. Your medical expenses may be higher because these costs increase every year, and you may be responsible for paying taxes on your withdrawals. 

Deadlines

After 50 years of age, you should become aware of the rules and deadlines associated with Medicare, Retirement account and Social Security. For example, you can make additional contributions to your 401(k) accounts without tax penalties at the age of 50, and if you stop working at 55, you may be able to draw from your 401(k) accounts without paying early withdrawal penalties and taxes.

You are responsible for your retirement income. Consider creating a detailed, diverse plan that will allow you to live your retired life well.

How To Update Your Fall Wardrobe Without Blowing Your Budget

The change of seasons means that winter clothes are starting to come out of storage. Warm, cozy sweaters and jackets are back. That also means it’s time to update your fall wardrobe with the season’s newest trends. Follow these tips to do that without blowing your budget or wracking up a massive credit card bill. 

Photo by Sarah Boudreau on Unsplash

Go Through Your Closets

Start by doing a thorough assessment of what you already have. Chances are you can keep most of your old things and then just add a few more pieces to keep things new and current. This helps you to avoid duplication, which can lead to substantial savings in the long run. It can also be a great way to generate some extra cash. Gather up all your unused items and sell them. List them online or take them to a consignment shop for even more convenience. 

Look for Clothes That Do Double Duty

Instead of buying separate wardrobes for work, play and just hanging out, shop for pieces that can serve more than one purpose. You might be surprised at how clothes can be both fashionable and functional. For example, there are some great concealed carry clothes for winter that can effortlessly go from the office to a night on the town. 

Choose a Universal Color Scheme

Turn to the colors you naturally gravitate toward for inspiration and build an entire wardrobe around the base colors. For example, you might choose a fall palette that has rich browns or olive greens. A deep navy works well for many people, too. Of course, you can always stick with the classic black, which is easy to take in almost any direction with bold and colorful accessories. Not only will this make shopping easier, but it also ensures that virtually everything you buy can be mixed and matched to create nearly endless styles. 

Once you know what you have and what you actually need to buy, make smart choices by sticking with a color scheme and buying clothing that can serve more than one purpose. 

Six Simple Steps To Keep Your Cell Phone in Good Shape

So many of us are attached to our cell phones. In modern society, we can’t live without them. A broken phone is a major inconvenience. If it can’t be fixed, it’s a serious loss. That’s why we should do everything we can to keep our phones running well.

Repair, Don’t Replace

Just because you can, don’t replace your phone right away when something goes wrong. Often, it’s cheaper and quicker to have your phone fixed than to get a new one. Before chucking a basically fine phone, have your area cell phone repair Midland TX shop techs check it out first. The results may pleasantly surprise you.

Invest in a Phone Case

While a store protection plan is great, a phone case protects against accidents happening in the first place. Cell phones are shockingly delicate. Even minor falls or chips to the shell could impair components under the surface. A case cushions your phone from damages caused by dropping and other physical mishaps. Cases come in countless styles and colors to suit anyone’s tastes.

Store Your Phone Safely

Like all electronics, cell phones are sensitive to external conditions. Keep your phone in a neutral environment where it won’t freeze or overheat. Avoid destructive spills by keeping food and drinks, including water, away from your phone at all times.

Keep Your Screen Pristine

Especially with touch screen smartphones, screens are a critical part of our devices. Unfortunately, phone screens are easily scratched by sharp objects or cracked by blunt ones. Shun screen contact with objects other than your fingers, except when cleaning your screen with a soft cloth in alcohol solution.

Be Kind To Your Battery

Battery life is another common complaint. While some phone batteries are better than others, good habits go far to conserve power. Keep track of all background apps, and close those that aren’t necessary. Also, it’s bad to let your battery drain completely, so charge your phone immediately after the “low battery” alert.

All owners want their phones to work with minimal downtime. Care for your phone so it works when you need it most.