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8 min read

Financial Risks That Make It Difficult to Age in Place

By Cameron Huddleston, Carefull Family Finance Expert on 11/7/22 10:00 AM

An overwhelming majority of older adults want to remain in their homes as they age. A survey by AARP found that 77% of adults 50 and older want to age in place. Other surveys have found that the percentage is even higher—nearly 90%.

It’s one thing to want to age in place. It’s another thing altogether to actually be able to make it work. That’s because there are several financial factors that can jeopardize adults’ ability to remain in their homes as long as possible. In fact, without adequate financial security and safeguards, living independently at home isn’t possible.

It’s important to understand the financial risks that can make it difficult to age in place and to take steps to reduce those risks.

Topics: Planning in Advance Lifestyle Planning Financial Wellness Financial Literacy Financial Security
5 min read

6 Reasons You Need an Emergency Fund in Retirement

By Carefull on 10/31/22 10:00 AM

An emergency fund—money dedicated to unexpected expenses—should be part of every household budget. When things go south, you won’t have to go into debt to fix them. While the fund might not be enough to completely cover truly serious emergencies, it will at least reduce the amount you have to finance.

During your working years, an emergency fund is a big help. During retirement, it’s crucial to your budget. After all, you’re living on a fixed income. You can’t take on a little overtime to help pay for that transmission repair.

Here are six reasons why an emergency fund is essential.

Topics: Planning in Advance Lifestyle Planning Financial Literacy Financial Security Budgeting
3 min read

Where You Put Your Savings Depends on What They’re For

By EveryIncome on 10/10/22 10:00 AM

So you’ve decided to put away some savings. Great choice. It’s never too soon to start.

A lot of Americans don’t have any savings, and many don’t have enough to last them through their retirement years, so you’re smart to make this decision.

But where should you put the money? Here’s how you can make good choices.

Topics: Financial Planning Planning in Advance Financial Wellness Financial Literacy Financial Security Savings
6 min read

Freezing Your Credit – Should You and How Do You Do It?

By EveryIncome on 10/3/22 10:00 AM

If you’ve been hacked or your identity stolen, you know how vulnerable it can feel and how scary. Trying to make sense of it all and get your account straightened out can months or longer depending on how bad it is.

Even if you haven’t had the misfortune of experiencing identity theft, it can still be scary knowing your information could be out there on the dark web or in the hands of a hacker and you might not even know it.

Topics: Financial Planning Financial Literacy Financial Security Cybersecurity
3 min read

Real Estate Investment Return Calculator

By EveryIncome on 9/16/22 10:00 AM

Before buying an investment property, you want to make sure you’ll make money off it. One way real estate investors evaluate investment profitability is by calculating return on investment, or ROI, which measures cash return expressed as a percentage of total investment cost on an annual basis.

You can calculate ROI yourself using a simple formula, or you can use a real estate investment return calculator.

Topics: Financial Planning Planning in Advance Investing Financial Literacy Financial Security
3 min read

What Is a Good Investment Property?

By EveryIncome on 9/12/22 4:56 PM

Smart investors know that investing in real estate is what the cool kids do. If you’re careful about the properties you buy, it can be a venture with a tremendous upside and a comparatively low downside.

First, you should know that real estate is an investment that diversifies portfolios, pays off its own debt, and produces predictable and stable cash returns, even when you’re sound asleep.

And once you generate enough profit, you can use your returns to buy more properties. In other words, your houses can buy you more houses. It’s the snowball effect of snowball effects.

However, to find success as a real estate investor, you’ll need to know how to pick the good apples from the bushel.

Topics: Financial Planning Investing Financial Literacy Financial Security
6 min read

Emergency Funds – How Much Is Too Much?

By EveryIncome on 9/5/22 10:00 AM

Everyone needs an emergency fund to use should they experience the unexpected. Job loss, falling ill, or having other major financial catastrophes can wreak havoc on your finances. When you have an emergency fund set aside, though, you can focus on overcoming the emergency and not stress about how you’ll pay your bills. 

But is there such a thing as having too much money saved for an emergency? 

There could be. Saving too much for the wrong reason can cause you to feel it in other areas. Here’s what you should know.

Topics: Financial Planning Planning in Advance Financial Literacy Financial Security Emergency Savings Savings
1 min read

3 Strategies for Coping with Economic Anxiety

By NAIFA on 8/22/22 10:00 AM

Everyone, regardless of their income, gets antsy when there's a recession, depression, or even a slight downturn in the market. The uncertainty can cause a lot of anxiety about what's to come. It can make people put life plans on hold, start to look for other employment, or reassess how they're managing their money. Even though no one can predict how long or impactful a recession will be, there are some things you can do to cope and manage during a stressful time.

Topics: Financial Planning Planning in Advance Benefits of a Financial Advisor Financial Literacy Financial Security
2 min read

5 Tips to Manage Your Finances During a Recession

By NAIFA on 8/19/22 10:00 AM

Recessions affect every part of life. The cost of goods and services goes up, borrowing money gets more expensive, and businesses suffer. During a recession, you may need to adjust your spending habits to stay financially secure. Read on for tips to mindfully manage your finances during periods of economic uncertainty.

Topics: Financial Planning Planning in Advance Financial Literacy Financial Security Budgeting
6 min read

How Does Term Life Insurance Work?

By EveryIncome on 8/19/22 10:00 AM

If you’re in the market for life insurance, you have many options, but the most common choice is term life insurance. 

It’s often the least expensive policy and it’s the easiest to get. It’s a temporary policy so there’s a lot you must understand about how it works. Here’s what you must know about it. 

Topics: Life Insurance & Annuities Financial Planning Planning in Advance Financial Literacy Financial Security