Wants and Needs

What a topic!

We all have wants you can buy your wants on EBay, you can buy anything you want here too Amazon, almost anywhere, really. According to the National Foundation for Credit Counseling( NCFF), 15 million people are receiving phone calls from creditors or filing for bankruptcy.

Credit debt, and spending is not always related to income and education. A lawyer, earning six figures, recently found himself owning more that $100,000 in Credit Card Debt. (www.walletpop.com)

Debit and overspending is related to our wants and needs. Personal and household spend behaviors or habits.

Habits that have taken a lifetime to create!

Questions: If you won a $100,000 next week what would you do?

I ask this question, because weekly, I play the mega $1.00 lottery.  I have my numbers and I play them. I am hoping to win, $100.000. Enough to go back to zero. People say, that is not enough. I should want more, dream bigger.

I have my reasons! And $100k, is enough.

How much is enough for you? Is Back-to-Zero Enough?

More on debt, credit, spending, and habits later.

Overwhelmed with Information

Where do I start?

My research, my knowledge and experience in the area of retirement information is overwhelming.

Where do I start? Deciding what topic to discuss and what area to focus on first, second, next is the most difficult process.

I want to not only focus on individuals planning their retirement, in or near retirement. I want to provide helpful information for the younger population--whom are absolutely confused by jargon used (401k, CD, IRAs, ROTH, Pension Plans, Annuities, etc...), as well as consumed by debt; and may have not started saving for retirement. I would also like to discuss options, and concerns for the other end of age spectrum. These individuals are just as uncertain, and overwhelmed with the process, too. How does Social Security work, is there health insurance for me, can I work, have I saved enough?

Did you now, that with the economy on a downward slide and the stock market bouncing all over, individuals are putting less and less in their 401k (some people have stopped all together)!? Just today at work, several co-workers were talking their 401(k) contribution activity. Or rather lack of activity.

Your retirement, your savings- is your responsibility. You have to have saved enough for not only your everyday expenses: cost of living, but also health insurance cost, and FUN. Enjoy your non-working years. With that in mind, does it make since to stop contributing to your 401(k)?

Have you reduced the amount you put into your 401(k) or 403(b)? Are you re-considering your contributions amounts, thinking about reducing, changing direction, or stopping them all together? Remember that with your contributions you do have lower your taxable income .

The Beginining

Today I start am amazing venture --sharing my thoughts, knowledge, passion, and energy about life. I will discuss hot topic issues, rants, and fun things too.

In addition to living life today, tomorrow, and yesterday I am also going to provide YOU necessary direction in planning your retirement. (The KEYWORD is Direction!) What I am not doing is providing advice, or giving suggestions. I am offering a resource. A one-stop shopping that will discuss, not only life, but also discuss retirement and retirement tools for you (whether you are younger or older).

Questions:

Have you thought about your 401(k)?

Tax advantages? Disadvantages (if you consider cashing one out)?

Are you matching what your employer contributes?

Do you have or have you had a pension?

Have you thought about Social Security? What about Medicare?

What about your current income to debt ratio?  

Do you have a mortgage, a car loan, student loan (yours or your children’s), credit card debt?

Are you concerned about your debt to income ratio when you retire--5 years from now, 10 years from now, 30 years from now?

You are responsible for your future! Your retirement! Your non-working years!

Life is an adventure. Life after work should be even more fun and lots of play--at least that’s my theory. I work hard, and I play hard. When I stop working--i.e. retire.  I want to not worry about my student loans, a mortgage, or credit card debt.  I want to travel and play. I want to ENJOY life. I work to hard hard for what I have today, to waste my retirement years.

 I want to enjoy my retirement,  without worring if I can afford my whimsical wants and needs.

Today is the beginning! For me, for you.