personal finance
How to monetize a blog: Tips from successful bloggers
There are a lot of ways to monetize your website, but these are the tactics that bloggers say work best.
The post How to monetize a blog: Tips from successful bloggers appeared first on Discover Bank – Banking Topics Blog.
How to Use Resume Keywords to Get Past Online Screeners
When was the last time you printed out your resume and handed it to an actual human being? These days, many job seekers donât interact with a real, live person until they get past an electronic screening round. More companies are using automated applicant tracking systems (ATS), also known as talent management systems, to find [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Chapter 05: How to Create a Budget in Mint
There are various ways you can go about creating a budget, but one of the most efficient and easy ways is with Mint. With Mint, you can say goodbye to tedious spreadsheets forever and make a budget with our easy-to-use app. Our budgeting app can help you keep track of your living expenses so you
The post Chapter 05: How to Create a Budget in Mint appeared first on MintLife Blog.
7 Ways to Score Free Dental for Seniors on Medicare
Affording dental work can be tough if youâre an older American on Medicare. Thatâs because Original Medicare â which covers a majority of beneficiaries â doesnât include routine dental care. Congress is considering whether to add dental coverage to Medicare as part of a $3.5 trillion social spending package â but progress has been slow. [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
%%title%% · %%sitename%% What is a Secured Loan and How Do They Work?
A secured loan is a type of loan backed by collateral that your lender can seize if you donât make payments. A mortgage is one of the most common types of secured loans. Your home is the collateral. If you donât make your mortgage payments, your lender will start the foreclosure process to seize your [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Does Medicare Cover Hearing Aids? 6 Ways to Save Money
Affording hearing aids is challenging if youâre an older American on Medicare. Thatâs because Original Medicare â which covers a majority of beneficiaries â doesnât cover hearing aids, fittings or hearing exams. Thatâs right â not a dime. And hearing aids are expensive: The average cost for one pair ranges from $3,000 to $6,000. About [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Millennials Want a Different Kind of Retirement
Over the last decade Millennials have gotten a lot of attention (good and bad) for their âslacktivism,â job hopping, mountains of student debt and FOMO culture. But Millennials are growing up, and many of them are prioritizing financial independence and thinking seriously about their path to retirement. Perhaps unsurprisingly, and in contrast to the generations before them, they have different ideas about what that path and the ultimate destination will look like.
- SEE MORE OK Boomer vs. Avocado Toast: How to Talk Money Across Generations
According to a new Schwab study, Millennials are more likely to prioritize travel over homeownership in retirement. They want the freedom to use their savings to pursue their desired lifestyle and passions more than chase financial stability. They want flexibility and new experiences more than traditional retirement pursuits.
The Millennial Road to Retirement
As for the path to reach these non-traditional goals, Millennials are looking for flexibility on that front too. They are less focused on a specific retirement savings amount. Instead, they see the accumulation process as more of a continuum, and they want to pursue their passions along the way toward retirement â not just in retirement. Additionally, they are less interested in preserving their wealth in retirement and will not spend as much time managing their investments as Boomers.
- SEE MORE 7 Financial Donâts for Every Millennial
Some of these Millennial preferences may seem out of line with responsible retirement goals, but this is a generation of action. Millennials, to their credit, are already starting to save much earlier than their predecessors and over the course of the pandemic, many have stepped up their engagement and focus on financial planning.
It’s also worth noting that Millennials arenât simply re-writing the script for retirement because they can. Major economic and societal shifts are driving these changes in how younger people approach money, careers and life. They have encountered challenges that are different from the generations before them. The cost of homeownership has risen, pensions plans have dwindled, student debt has risen dramatically â just to name a few.Â
Tips to Help Millennials on Their Path
The road to retirement has only gotten more challenging over the course of Millennialsâ lifetimes. The good news is that many timeless financial planning strategies can be readily adapted to fit their needs.
Here are the top tips I share with Millennials for reaching the retirement of their dreams:
- Stash some cash: The first step to planning for the rest of oneâs financial future is creating a financial cushion to fall back on in preparation for the inevitable disruptions life will bring. A few monthsâ worth of savings is a good place to start an emergency fund.
- Focus on your financial state, not your retirement date: Donât think of retirement as an arbitrary date when a switch is flipped and retirement begins. Instead, target a financial state that would provide for the flexibility to make work optional. That could look like saving enough by the time you are 60 to be able to stop working if you needed to, but with the idea that you will continue working and saving until you are emotionally ready to retire. It is important to crunch the numbers to figure out how much will be needed to feel comfortable. From there, adjust your savings accordingly to grow that nest egg.
- Grow it and protect it: We all want to grow our savings and investments to sustain us through our lifetimes. But donât lose sight of protecting whatâs already in place. Thereâs no such thing as a âsure thing,â and that means that diversification is important to potential growth along with stability. Donât risk more than you can afford and be ready to re-evaluate your risk tolerance over the course of your investing journey.
- Donât be derailed by FOMO: Hot new investment trends can be very enticing, but getting caught up in the rush toward shiny possibilities can lead to setbacks that limit future potential. Remember that investing is about helping grow money over time to reach your goals and not speculating or chasing fads.
- Think long and short: Retirement planning is a long process that requires time and patience. It also requires flexibility to adapt to changing circumstances. No one can predict all the challenges that lie ahead, or if their future self might look at things a bit differently than their present self. Create a plan and revisit it at least once a year, knowing that there will be changes along the way.
The Bottom Line
Just like Boomers and Gen Xâers, Millennials have distinct generational characteristics that set them apart, but at the same time they are not a monolith. Millennials will take many different approaches and paths to retirement. Their personal lives will take unexpected twists and turns that may change some of their goals along the way.
Sound financial planning that begins early is the key to success no matter the desired destination. That much never changes.
Diversification strategies do not ensure a profit and do not protect against losses in declining markets. Investing involves risk, including loss of principal.
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- SEE MORE 5 Generational Money Taboos That Must Die
Medicare Vision Coverage: How to Save Money on Eyeglasses and Exams
If youâre enrolled in Medicare, routine vision care isnât guaranteed. Some privately administered Medicare Advantage plans cover eyeglasses and eye exams. But Original Medicare â which provides health insurance to about 37.7 million Americans â doesnât pay for your new eyeglass frames or an annual vision exam. So how do you know, in your own [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.