Your Money Health

The earlier in life you learn to respect money, the more you will have later. You can never educate yourself enough about money.

Although it is a concept hard to understand, to make money, or anything else in life. you have to give it first. It's been proven again here and here.

As with everything else, there are money principles.

If you need a bit more education on money go to Money 101. Here's an idea whose time has come.

This site offers financial news and advice. It also has tools for your investment and savings. It's summer and I have friends that have kids who will find this useful for sure.

The more informed you are about money, the better you will become at managing, saving and investing. This site has articles, tips, resources and tools for all your money knowledge needs.

When it comes to investing in stocks, mutual funds, ETFs, bonds, etc., it is best to do your homework before you blindly jump in. I would say to pay a financial advisor rather than go at it alone. No matter how much of a Dummy you are, the market is volatile and can change quickly.

When it comes to retirement, the biggest mistake you can make is to retire at 62, unless your health demands it. Collecting Social Security at 62 does not give you Medicare, and it can take a chunk out of your benefit as opposed to full retirement age. At 70 your benefit is almost doubled more than at 62. True, you are closer to death and may lose money, but given that more people are living past 100 it might be worth it.

When retirement is approaching, I hope your only source of income is SSI. Here's your retirement guide. No doubt you need to save for retirements. Use this calculator to project your financial needs. You can never get enough information on managing your money for retirement.