A financial expert recommends changing the question -- and when you do, the answer may surprise you.
This post comes from Neal Frankle at partner site Credit.com.
Retiring can be a frightening subject. Where is the income going to come from once you pull the plug? How much will you need? How will you spend your days? These are all important questions you have to address. But what if you don’t have the answers?
The last thing you want to do is get this wrong. If you retire too soon, you may be forced back to work but find it very hard to land a job. If you retire too late, it can cost you your most precious treasure -- your time. How do you know when it’s time to retire?
The best way to work out your answer is to change the question a little. Instead of asking when it’s time to retire, ask yourself why you can’t right now. As I see it, there are two reasons you might still be punching the clock.
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Banks often use sign-up bonuses as a way to get new customers to apply for one of their cards. But are you guaranteed to earn the bonus?
This post comes from Holly Johnson at partner site CardRatings.com.
If you've never had your own rewards credit card, chances are that you might be missing out. That's because, as Lauren Gensler recently pointed out in Forbes, some of the biggest banks around are trying to build their credit card customer base by reaching out to their own customers. To make the sale, writes Gensler, they're "revamping their cards and offering extra rewards." And, most banks aren't just going after their own customers -- they're going anyone who is credit-worthy and willing to sign on the dotted line. How are they reeling people in? The answer: sign-up bonuses.
Credit card sign-up bonuses were created to incentivize you to sign up for a particular card. In most cases, customers are required to hit a minimum spending requirement within a certain time frame in order to earn the bonus, with the average time being around three months.
When you sign up for a new credit card with the hopes of earning the bonus, it's important to have a plan. First, you need to know the minimum spending required to earn the bonus. Second, you need to know how much time you have. Once you finally have those details pinned down, you only need to follow through and spend the amount required. But, how do you do it?
Las Vegas Metro Police no longer respond to car crashes that don't result in injuries.
This post comes from Krystal Steinmetz at partner site Money Talks News.
Rear-ended at a stop light in Las Vegas? Don't waste your time calling the cops. Las Vegas Metro Police have stopped responding to fender benders, unless there is an injury.
Vegas police say they're too busy to respond to minor collisions, said KARN News Radio. Police estimate they've spent 250 hours a week on no-injury car accidents.
Drivers are expected to trade insurance information after an accident and file a Nevada Department of Motor Vehicles accident report within 10 days. If one driver refuses, Vegas police say they will respond.
Michael Geeser of the Nevada Insurance Council told KARN that the new policy could raise insurance premiums for good drivers and mean poor drivers won't be penalized as much.
"If you have a habitual red light runner and they cause accidents that are not injury-related, then that goes unnoticed by the insurance industry because they only note citations," he said.
Police in Los Angeles, San Francisco and San Diego also don't respond to no-injury crashes.
So what should you do if you're in an auto accident and the police aren't going to come?
Here are a few reasons why good credit is more valuable than you think and how a high score can save you a ton of money.
This post comes from Allison Martin at partner site Money Talks News.
In America, credit is everything. Without it, a lot of people wouldn't have the possessions that they do.
Not only that, but the impact of your credit history is such that failing to exercise responsible debt management habits -- thus harming your credit scores -- can cost you substantial money.
Here are five ways that having a good credit score can be beneficial to your wallet:
1. Cheaper financing
This one is a no-brainer, but the lowest interest rates typically go to those with the best credit scores.
Think about those financing offers you see on television for a brand-spanking-new car. Have you ever read the fine print? If not, take a moment to pay close attention to the bottom of the screen. Not every buyer gets the great rates.
To illustrate, if you take out a 48-month auto loan for $17,000 at 3.9 percent, the total payout over the life of the loan will be $18,388. Assuming your credit score is a little lower and you are granted a rate of 6.9 percent, the total will increase to $19,502.
My personal favorite to demonstrate is the mortgage loan.
Our reporter took the frugal month challenge and saved $328 during February by forgoing haircuts and new clothes and finding free entertainment.
Learn how driver's license points are assessed, how long they stick and how they affect your auto insurance rates.
This post comes from Michelle Megna at partner site Insurance.com.
Scoring points is a good thing, unless it's on your driving record. Still, if you know how your state's point system works, you'll have a better game plan for keeping your license -- and your auto insurance rates low. Here are 10 things every driver should know:
1. Auto insurance companies don't rely on state motor vehicle department point systems -- they use their own.
Both state motor vehicle departments and insurance companies use point systems to track driving performance, but they are separate assessments. DMV points are applied when you are convicted of certain traffic violations. If you accumulate too many points within a certain period of time, your license is typically suspended or revoked.
Insurers don't generally pay much attention to DMV points because they use their own point system when deciding how much to raise your rate. Based on the infraction, your rates rise by a predetermined amount at certain thresholds.
You don't have to be a millionaire now to be a millionaire at retirement. Find out the secrets behind retiring rich.
This post comes from Maryalene LaPonsie at partner site Money Talks News.
The median worker's retirement fund contained a meager $79,300 in 2010. That fun fact comes courtesy of professional services firm Towers Watson and might make you think retiring rich is out of reach for most people.
Don't let the statistics scare you. With a little advance planning and self-discipline, you might not ever be famous but you could be rich.
The big day can be costly, but strategic use of rewards cards can help you earn some valuable rewards.
This post comes from Jason Steele at partner site Credit.com.
A wedding is a joyous, yet expensive, occasion. And with so much money being spent, credit card users are wise to look for any possible method to maximize their credit card rewards. Thankfully, there are several ways that couples can leverage their spending to earn considerable rewards points, miles and cash back on their big day.
When paying for wedding expenses, it is best to use a credit card only as a method of payment, not a means of finance. As unsecured debt, credit card interest rates are very high, and couples would be far better off hosting a celebration within their means rather than beginning their lives together under a cloud of new debt. Also, any rewards earned from a credit card will be dwarfed by just a month or two of interest payments, so earning rewards makes little sense when cardholders carry a balance.
Earning points and miles at hotels
Hotels are popular venue for ceremonies and receptions, and credit cards make it very easy to earn valuable rewards.
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