Retirement Planning

If you have a long way to go, here is a wake-up call...it is never too late to start planning for your retirement. The sooner you start, the better your nest egg will be padded and secure. If you are on the edge of retirement, you have to have a nest egg, otherwise relying on SSI will put you in the poorhouse.

If retirement is near, investments must be secure. McDonald's is a solid dividend paying stock. When it comes to metal investment, always go with gold at iShare. Choose a simple portfolio of Vanguard mutual funds with this, this and this! Get more investment advice at Real Clear Markets blog.

Retirement communities are starting to pop-up that are lifestyle oriented, so that you can retire with people who share your interest. You might even think about getting more bang for your buck in a foreign land. If you retire away from family and acquaintances make sure you have some sort of support you can fall back on if it doesn't work.

Retirement should not be ventured into without planning.  Remember that for the most part retirement is permanent and many see the goal of retirement at 62 years of age. Age 62 is like a fool's gold for retirement. As far as SSI the payments may not  have any buying power if you live beyond the life expectancy. Unless health is an issue, full retirement age will pay better in the long run, and the magical age of 70 will almost double your age 62 benefit. Things to consider.

Keep in mind that retirement is ever evolving. When planning for retirement, it is better to save, invest, plan, prepare and have surplus than live like a pauper. No doubt, when retiring you need all the help you can get.

You should make out a will as soon as possible. The reason is because you just don't know!

Solid Investment

If you are close to retirement, don't make these mistakes that will derail your plan.

I have a stock that can be very profitable at the expense of unhealthy habits. Even with peaks and dips, Philip Morris will always be profitable. Smokers will continue to smoke and PM will always be in business. Like anything else, stocks come with a risk. If I ever recommended an overall stock that even pays good dividends, it would have to be PM International.

Another stock that profits from smokers is Universal(UVV) that supplies the tobacco. Cigarettes may be unhealthy but most smokers will continue to buy them or cheaper alternatives as prices skyrocket.

Another stock that deals with tobacco among other things is Reynolds American(RAI) which has an affordable price.

Along the lines of cancer research and cures, these stocks seem to be the ones to watch.

Consider adding these stocks to any portfolio.

The Cheapskate Lifestyle

The bottom line with money is to spend less than you make. The extra should be saved, invested and used for emergencies. You must be able to sacrifice and not keep up with the Joneses. The enemy of money is debt, and one must try to avoid as much debt as possible. Money is the one thing that everybody needs, yet not everybody educates themselves on money.

The first thing you should do is create a budget and educate yourself on money matters. The site is loaded with information, tools and money resources.

Financial education should be taught to children at a young age. For money saving tips this site has many practical money-saving ideas.

The best way to save money is to be frugal. We could call it what it is, living cheap. No matter how you look at it, you must learn to live on the cheap. Then there's one more! The important thing is to build a savings any way you can. If you can save money you will avoid large debts in the future.

Here are simple ways to make extra money online. If you are spending more than your saving, you should consider maybe getting a part-time job. Here you can find job hunting sites. Here's another one.

Another money idea is to save all your $5 bills.  This will give you some serious savings in a few years.

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.

ID Theft

Nothing can wipe you out financially more than ID theft . All some thief has to do is find a document with a minimal amount of information about you on it and bye-bye ID and reputation. This is why people pay money to security companies, especially on the internet, to monitor any would-be-ID-thieves!

Perhaps it is money not so well spent. Now if you want to pay anybody money to guard your identity, you might be paying the criminal who guards the prisoner. Should I be blunt?

The reality is that people are careless with their numbers that matter. They do throw out, without shredding, documents with numbers that may come back to haunt them. There are simple ways to check yourself for ID compromise.

I'll give you my ID theft thoughts...
I think that one should have faith in their banking institutions. They are aware of your spending habits and can spot red flags. It happened to me with a debit card and my bank caught a red flag since there were transactions happening thousands of miles from my home. This will be discussed elsewhere.

Get your free credit report with a twist. Most get all three(Equifax, Trans Union, Experian) reports at once, thus having to pay and getting discouraged to research an ID theft. Solution: Since you are allowed one report a year for free, spread them out. Get one in April, one in August and one in December from a different credit score site. I go to Experian then to Equifax and then to Trans Union.

Since you really want to avoid ID theft at all costs, there are tips here, here, here, here, here, and since you have to be informed to your teeth, here.

The best common sense ID Theft prevention is to Deter, Detect and Defend.

On another note, the Better Business Bureau has named its top scams.

Freebies and Money Makers

Sometimes freebies come with fill-out forms and endless questions that put you on a multitude of mailing lists. So approach with caution. Most money making sites may not be what will fill your wallet. They may also take a long time to pay their minimal payment. But sometimes you do find little gems.

Kiplinger put out their best freebies on a variety of topics that will save you money. Here is some information about making money online along with some sites that pay for your time. They do get paid to write at Squidoo, don't recall if it's through AdSense, since I haven't been there in quite awhile.

Here's something that sounds too good to be true. Read a free program and if you don't make $50 you will get $100 by the author!

And what about other AdSense blog sites? Try here, here, here, oh what the heck, here is a list. Some links are no longer. And one more!

If you like writing product reviews, share your knowledge at Epinions. The payout is at $5 to your PayPal account. Here are other sites that pay to write reviews. Got More?  And one more for the road!

Here are some good freebies. Here's more. Here are your freebies for Friday!

Savings and Investing

There comes a time when you have to consider planning for your future by saving and investing. Your risk level and the amount of money you invest, will determine how much and how quickly you'll see substantial growth. The safer you feel, the less you will earn in the long run. A savings account may not make you as much as the stock market or even a CD.

Lets start with the basics. If you put your money in a savings account, you must find the one with the highest Annual Percentage Yield, APY. I have found that if you want high yields on a local level, a credit union is much better than a bank. I have found one that gives me a yield of 1.00%, and that is hard to find in a bank. If you want a high yield, the best are online.

Next consider a Certificate of Deposit, or CD. With a CD, you deposit money and leave it for the term agreement from 3 months or longer. The longer you leave it and the more you deposit, the higher the yield. Once again you should check your local rates, but the best online is here.

I keep my checking account in a local bank. I am considering going elsewhere because I pay more hidden fees than I get in interest. I don't think I do get interest! I am thinking of taking it online and this seems to be the best.

Ever hear of a Lending Club? If you have money to lend, you can make interest. See how it sounds to you. This is so good, I'll give you another one.

Although there might be other money generating revenue, the biggie as always is investing. Investing in stocks, mutual funds and ETFs. To invest in the stock market you will need knowledge especially if you go at it alone. Check if there are any investments offered through your employer, such as a deferred investment fund, In this department it is recommended that you seek professional investing advice.

Here are the best stock brokers, and some may be found locally near you. I love the resources at the bottom of the page. Personal Capital is a way to keep track of all your money.  If you are unsure about investing, Betterment invests your money based on the questions it asks.

And finally, maybe you might want to look into an Roth or Traditional IRA. IRAs are strictly for retirement, with penalties for early withdraw before age 59 and 1/2 years old.

Bye-Bye Middle Class

If you are still in denial, the reality is that the middle class is disappearing. This means that you will either be rich or poor, although one may still be called 'middle class.' Lets face it, the middle class is being squeezed into extinction. Food and gas prices may be the obvious drainers, but there are also the ones that effect the pockets with a trickle-down effect. The housing market, the lower wage jobs, education, to name a few, are effecting your wallet one way or another.

Health costs are also skyrocketing and will eventually hit everybody's pockets. The way to beat that cost is to be as healthy as you can be. The healthier you are, the less trips you make to the doctor.

The bottom line is that unless you are rich, you have to learn to live below your means. This means finding alternatives or doing without. The first vice to kick is keeping up with the Joneses. Good tips on living below your means can be found here, here, here, and here.

How about earning extra income? Try this, this, this, this and I can go on. I might also suggest running errands or doing things for the elderly and others, clean apartments and houses, find a part-time job.

Perhaps the economy will get better, but don't hold your breath. Living below your means and earning extra income now, is going to save you in the long run right through your retirement.

Money Tools and Resources

If you've mapped out your financial goals, goalgami will keep your financial future on track. It also has the What ifs, sort of covered.

ClearCheckbook is yet another money managing site that tracks your expenses.

Tip Hero gives great money-saving ideas.

Wise Bread teaches you frugal ways to live comfortably.

Real Clear Markets is a blog for investors.

Financial planning at a glance.

Learn the basics.