HOTWBanner.jpg

Tips on When to Take Social Security Benefits

The consequences of the onset of Social Security benefits are enormous. Recent reports by Sandra Block, at Kiplinger.com and Viewpoints at Fidelity.com confirm this.

You are eligible for benefits if you’ve worked a minimum of 10 years in positions covered by Social Security. Benefits are based on two main variables: earning in the 35 highest-paid years of your career and the age in which you begin receiving your benefits.

Those 35 years do not have to be consecutive, and if you work past age 65, those earning years, even part-time, will be included if part of your highest 35 years.

Read More...

The Benefits of Plants at Work and Home

You may not have access to a garden at your office, but did you know that a plant at your desk can impact the quality of your work?

Articles at Earth911.com and GoodEarthPlants.com reveal why.

Scientists report that certain plants improve indoor air quality and help eliminate toxins like formaldehyde, benzene, and hexane from the air. They have psychological benefits and promote healing from illnesses.

One study showed that plants reduce carbon dioxide thereby easing stress and aid in recovery from stress. This ultimately boosts employee productivity.

Read More...

What is the number one financial regret of older Americans?

Most Americans are filled with regrets — financial regrets. Fully three in four, in fact, admit they harbor financial regrets, according to a survey of more than 1,000 adults by Bankrate.com. Their biggest regret: not saving for retirement early enough (nearly one in five Americans put this in the No. 1 spot). What’s more, among those age 65 and up, 27% said this was the biggest regret, compared with 17% of those aged 30 to 49."

Those in the younger generation are probably just not old enough to realize they probably have also started saving too late! 

Read More...

Do you worry you may outlive your retirement savings?

According to a new Bankrate.com survey, “People who earn more than $75,000 have a greater fear that they’ll run out of money in retirement. Overall, 23% of survey respondents say their top worry is that their savings will run out, but 29% of those in the $75,000-and-up income bracket say the same.”

According to an article at Time.com, “These fears persist despite the fact that about half of high-income Americans say they’re happy with the amount they’re socking away for retirement, compared to the 29% overall who say they’re happy with their current retirement savings. And even among those earning more than $75,000 a year, more than a quarter say just keeping up with basic living expenses is hampering their retirement savings”.

Read More...

Are you wasting money on “healthy food”?

I found an interesting article from Yahoo.com that gave strong evidence that we may be wasting lots of money buying five specific foods and beverages we think are healthy for us. For example, diet sodas.

Certified Nutritionist Beth Warren says, “People think they are doing their health a favor by not drinking sugar-sweetened beverages and choosing diet drinks. Artificial sweeteners have been proven time and time again that, in the long run, they are not doing your waistline or health a favor by consuming them.”

A study of 24,000 Americans found that overweight and obese adults were more likely to drink diet soda than people at a healthy weight. While that might not be surprising — if you’re trying to lose weight, you’ll probably switch to diet drinks — the diet drinkers also consumed significantly more calories from food compared to people who chose sugary beverages. And overweight and obese people consumed roughly the same number of calories no matter their choice of beverage, according to the results, which were published in the American Journal of Public Health.

Read More...

Benefits of a healthy lifestyle

With medical expenses being the number one cause of financial hardships, it pays to work at staying healthy. Here are few simple
tips/benefits for staying healthy:

  1. Take advantage of free ways to exercise. YouTube sessions, walking, dancing, and stretching; check out churches, senior centers, or the YMCA for exercise classes for little or no cost. Park farther from your destination so you walk more. Be aware of the need to move. Wear a fitbit and record your progress.
  2. Keep portions in check. Food portions should be the size of a small fist. Use a salad plate instead of a dinner plate. When ordering, ask restaurants to pre-bag half your meal to go and eat the leftovers for lunch the next day.
Read More...

Are you average when it comes to earning and managing your money?

In 2015, the average American household earned a little more than $69,000 total income leaving about $60,000 after taxes, according to the Bureau of Labor Statistics.

From that, consumers spend nearly $56,000 of their take home pay and they saved the rest, or about $4,000 which amounts to an average of 6% of their net income. 

When it comes to our biggest expenses of housing and utilities, those cost just over $29,000 or nearly HALF the budget.

Read More...

Are you taking care of your health?

If you want to be a good steward of your money it is often directly tied to being a good steward of your physical body.  The top reason say they file for bankruptcy is due to medical costs.

A recent Harvard University study showed that medical expenses account for approximately 62% of personal bankruptcies in the US. Interestingly, the study also showed that 72% of those who filed for bankruptcy due to medical expenses had some type of health insurance.”

I am not saying that all health related medical expenses can be avoided, but I am saying that care of your body will have many benefits such as reducing your stress, preventing doctor visits and improving capacity to produce through your work.

Read More...

Did you know a healthy lifestyle saves you money?

With medical expenses being the number one cause of financial hardships, it pays to work at staying healthy. Here are few simple
tips/benefits for staying healthy:

  1. Take advantage of free ways to exercise. You Tube sessions, walking, dancing and stretching; check out churches, senior centers, or the YMCA for exercise classes for little or no cost. Park farther from your destination so you walk more. Be aware of the need to move. Wear a fitbit and record your progress.
  2. Keep portions in check. Food portions should be the size of a small fist. Use a salad plate instead of a dinner plate. When ordering, ask restaurants to pre-bag half your meal to go and eat the leftovers for lunch the next day.
Read More...

Today, how to save money on your prescription drugs.

Recently, my teenage son had his wisdom teeth removed. We received three prescriptions: one for pain, one for infections and one for nausea.  Since he did not have any nausea, I had two of the prescriptions filled with generic alternatives and the total cost was under $15.  The key was a simple question.  “Do you have a generic option for that prescription?” 

According to Kipplinger.com,

“Generic drugs can cost as much as 80% less than their brand-name alternatives. The lower list price makes a huge difference when you’re in your health plan’s deductible period and paying the full price out of your pocket.

Read More...

0 comments

Leave a comment