Best Money Tips: Top 10 Retirement Planning Mistakes
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some stellar articles on retirement planning mistakes, money rules that nobody will ever teach you, and budgeting on a variable income.
Top 5 Articles
Top 10 Retirement Planning Mistakes — Are You Making Any of Them? — Are you making the retirement planning mistake of not saving enough? What about waiting too long to start saving? [Christian PF]
The Secret Money Rules That Nobody Will Ever Teach You — Chances are, no one will teach you that you should always live within your means. [Studenomics]
Budgeting on a Variable Income — It is vital to gather all your bills and track your spending when you budget on a variable income. [Kylie Ofiu]
The One Person Responsible for Your Financial Decisions — Remember that financial advice, no matter how reasonable, is not one size fits all. [Mighty Bargain Hunter]
6 Ways to Keep Your Top-Performing Millennials on Board — Creating opportunities for international travel can help companies keep millennials on board. [Women & Co]
Other Essential Reading
How to Get Off the Grid — To get off the grid, consider trying to grow your own food. [NarrowBridge Finance]
Getting Old Sucks. We Can't Stop Father Time, But We Can Prepare Physically, Emotionally and Financially — Are you taking advantage of how the tax code can help you in retirement? [Don't Mess With Taxes]
4 Ways to Reduce Financial Stress — If you want to reduce financial stress, create a budget and earn more money. [Sweating the Big Stuff]
37 Creative Uses for Your Magic Eraser — Use your magic eraser to remove stains on dishes and clean the inside of your oven. [PopSugar Smart Living]
20 Mostly Free Ways to Enjoy Fall With Your Family — Enjoy fall with your family without breaking the bank by making hot apple cider and visiting a local farm. [Parenting Squad]
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The biggest mistakes one can make is not to start retirement planning and saving/investing early in life, and to be consistent(save with every paycheck), take advantage of any employer matching plan, max out contributions when possible, eliminate debt, avoid risks with your nest egg, plan for multiple streams of income once retired (social security, pensions, dividends, part time work, etc.) and make catch up contributions once you reach 50.. I use several sites including the site Retirement And Good Living which provides information on finances, health, retirement locations, part time work and also has a great blog of guest posts about a variety of retirement topics.
Pay yourself first is the first step to saving. I also suggest that the key component to everyone's retirement/estate plan should include life insurance.