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Tagged With "Dear Penny"

Topic

This week in... The Penny Hoarder Community

Ashlee ·
Happy Friday Penny Hoarders! We finally got a taste of fall weather earlier this week here in Florida. It didn’t last long, but made me think of my favorite things about this time of year. What are some of your favorite budget friendly fall activities? Growing up in the Pacific Northwest, I love apple picking and pumpkin patches. And now for this week’s announcements… Thank you again to everyone who participated in our member survey, your feedback is invaluable! Join me in giving a shout out...
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Re: This week in... The Penny Hoarder Community

Alisha James ·
Thanks for the Gift Card! It was an easy survey and I didnt even realize there was a drawing to win anything. 😂 This is a great community and I'm happy to be here!
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Re: This week in... The Penny Hoarder Community

Adam Clark ·
Hi n good bye
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Re: This week in... The Penny Hoarder Community

D Varma ·
Hi
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Re: This week in... The Penny Hoarder Community

Moore Income ·
Congrats on the win @Alisha James & @Lesley Michele !
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Re: This week in... The Penny Hoarder Community

Carol Zelma Cox ·
Thank you for the add in your community. I'm from Kenduskeag ME. I'm recently retired because of illness. My husband s income is our only income.it cost alot of money for him to add me to his health insurance, over $200. A pay period. So I'm looking for other ways to save so we can afford the insurance.
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Re: This week in... The Penny Hoarder Community

Ashlee ·
Hi @D Varma and @Adam Clark !
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Re: This week in... The Penny Hoarder Community

Ashlee ·
Hi @Carol Zelma Cox , we are so happy to have you here! Be sure to check out our Retirement and Insurance topics, you can find some really great info from your fellow Penny Hoarders there. I also suggest posting any questions you may have, this community is a great resource. Your fellow members are always willing to jump in and answer questions or share their experiences. If you have any questions, don't hesitate to reach out!
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Re: This week in... The Penny Hoarder Community

Lesley Michele ·
Thank you so much!!!
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Re: This week in... The Penny Hoarder Community

MsKimberly ·
Congratulations @Alisha James and Lesley Michele!
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Re: This week in... The Penny Hoarder Community

Lesley Michele ·
Thank you💖
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Re: This week in... The Penny Hoarder Community

KikiMami ·
Hi All, Looking to get my affairs in order money wise! Happy to be here! Thanks,
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Re: This week in... The Penny Hoarder Community

Lesley Michele ·
Welcome😃😃😃😃
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Re: This week in... The Penny Hoarder Community

MsKimberly ·
Welcome Kikimami!
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Re: This week in... The Penny Hoarder Community

AverageJoe ·
Welcome to the Penny Hoarder Community, Kikimami! We're always glad to see the community growing and people interested in learning as well as giving some advice from experience.
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Re: This week in... The Penny Hoarder Community

Monica McAfee ·
Hi Everyone I'm Monica.....married and my husband lives in a nursing home...between us we have 4 children but one who is no longer with us....and 9 grandchildren Happy to be here
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Re: This week in... The Penny Hoarder Community

Marsha Scott ·
Seems like my Social Security is getting smaller and prices are getting higher! I have to hoard pennies to survive in today's society. Medications are getting higher and medical bills get outrageous!!! I love some of your tips. Thanks for letting me in!!!
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Re: This week in... The Penny Hoarder Community

AverageJoe ·
@Monica McAfee Welcome to the Penny Hoarder Community! We're glad to have you here. We look forward to hearing more from you. I'm sorry to hear that your husband is in a nursing home. It must not be easy to have a member of the family living in a care facility. From what you say, you seem to be an "empty nester". My wife and I are the same. We never had any children. But, I bet you're a wonderful, loving grandmother to your grandchildren! Again...Welcome!
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Re: This week in... The Penny Hoarder Community

Monica McAfee ·
Thank you for the acceptance....and yes all my free time is all about my grandchildren
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Re: This week in... The Penny Hoarder Community

MsKimberly ·
@Monica McAfee Hi Monica! Welcome! I hope we can all be of help to you. Surely, you must have some great ideas, too.
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Re: This week in... The Penny Hoarder Community

AverageJoe ·
@Marsha Scott You are definitely right when you say that it's hard to get by on what Social Security pays out. I have my wife's income to depend on as well, but my SSDI is hardly helpful in maintaining everything. We both have prescriptions and need to take several supplements on top of these. We sometimes feel like we should be investing in Pharmaceutical companies! There are many ways to save on many of these medications. Many times your pharmacist will be able to assist you in finding...
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LAST DAY - Dear Penny is *live* to answer your questions!

Theodora ·
If you haven't already, v isit the SURVIVING 2020 Q&A to ask Dear Penny your question!
Member

Penni

Penni
Member

Penni Glass

Penni Glass
Topic

Community Update

Sushil ·
Hello! I hope everyone had a great weekend. Can you believe it's already mid-August? Here are a few highlights from the Community that were posted last week: This graphic highlights the top 10 "Frugal Fails" -- money-saving attempts that could actually end up costing you more. Click here to read more about frugal fails. Janet Keeler, a senior editor at The Penny Hoarder, posted about the high cost of spices . She wants to know how you save on spices. Robin Hartill, another editor who is also...
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Re: Community Update

KellyFromKeene ·
Fabulous, thank you.
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Re: Community Update

irishnanny ·
awesome thank you
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Re: Community Update

aaron ramos ·
oh ok that is really good to hear that am also new here
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Re: Community Update

aaron ramos ·
Re: Community Update
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Re: Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

Brigat ·
What a great topic for discussion!
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Re: Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

Big Lew ·
I will be at work on those dates and times., Is it going to be available for recast or how can I go about listening to it ? Or be able to read it online ? Currently, I have no questions, but I am looking for tips/inputs for retiring/retirement. For my job, cell phones and computer use during work hours are out of the question. Thank you.
Topic Featured

Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

Will S. ·
Hey Penny Hoarders! It's been a while since we hosted a Q&A here on the Community site, so we're super excited to announce that our own Robi n Hartill, (aka @Dear Penny and resident CFP) will be LIVE answering your questions about all things retirement starting at noon on Wednesday, April 27 through Friday, April 29. When should you start collecting social security? How much should I have saved by age 40? All questions are welcome, so please stop by and ask away. We look forward to...
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Re: Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

Will S. ·
The Q&A will live here, so you can follow along at anytime you'd like: https://community.thepennyhoar...anda-with-dear-penny Robin (aka Dear Penny) will be answering questions on the above forum page starting at noon EST each day. So if you have question, you can go ahead and post it whenever you have the time, and she will answer it before the end of the day on Friday!
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Re: Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

sthom ·
What a great opportunity to see Dear Penny live! I'm retired, but I just might listen in anyway.
Topic

An Annuity

Karen Robinson ·
Hello, I am only available on Friday 4/29/22 as I work in an operating room. I am 67 and think I should buy an annuity for guaranteed income. I am all alone and am afraid of running out of money. I have $500,000 and have an illness. I am an apartment dweller. May I have your opinion on what you think would be best for me? Thank you. Karen Robinson.
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Re: Community Event: Join us April 27-29 for Retirement 101, a LIVE Q&A with Dear Penny

KellyFromKeene ·
very cool, looking forward to it.
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Re: An Annuity

Big Lew ·
Let's see, you're 67, work, and have $500,000. You did not mention if you're a doctor or nurse (I mention this as a salary reference and not to be nosy). Also, you did not mention how much longer you plan to work. I have no idea what your current yearly work income is or if you're receiving Socal Security also right now or if you are awaiting the age of 70, to collect it. Also, no mention of yearly expenses. Okay here goes based on what you mentioned. Using just the $500,000, dividing that...
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Re: Retirement 101 with Dear Penny | April 27-29

Will S. ·
Join in the the Q&A here! https://community.thepennyhoar...anda-with-dear-penny
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Re: Saving for our son and retirement

Dear Penny ·
Thanks for the question @Kara D ! I love that you're already thinking about the timing of your retirement and your son's college so far out. Have you considered a 529 plan? It's a lot like a Roth IRA, but it's designed for higher education instead of retirement. You don't get a tax deduction for your contributions, but as long as your son uses the account for IRS-approved education expenses, the withdrawals are completely tax-free. You can open one through any major brokerage. One of the...
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Saving for our son and retirement

Kara D ·
Hi! Thanks so much in advance for answering our Qs. We anticipate our son will be going to college at about the same time we'd like to retire, and we need to find the best way to save for him while we save for ourselves. What do you recommend for saving for our toddler’s future education? We’d like to open an account that collects interest, offers incentives for long-term investments (if that’s a thing!), and is easy for others to deposit to the account. Any specific banks etc are helpful...
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Re: Retirement 101 with Dear Penny | April 27-29

Will S. ·
Feel free to ask any questions you have at any point today or this evening or tomorrow and Dear Penny should be able to answer! The timeframe isn't very strict!
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Re: Retirement 101 with Dear Penny | April 27-29

irishnanny ·
I would love to be a part of this, but my work hours are different, so i will try to read any post about it thank you have a great day
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Re: An Annuity

Dear Penny ·
Hi @Karen Robinson ! This is a great question and one that a lot of people have in mind as they approach retirement. Annuities are an extremely complicated product that quite honestly don't make sense for most people. I reached out to my trusty colleague @Rachel Christian , who knows a lot more about annuities than I do, for help answering your question. Here's what she had to say: Annuities aren’t so much an investment as a financial contract between you and an insurance company. You give...
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Re: Saving for two on a single income

Dear Penny ·
Hello @Will S. ! By all means, double up on investing for retirement if you're in a position to do so — and by that I mean if you don't have any high-interest debt, like credit cards, and you have a six-month emergency fund. (Some people can get away with a three-month emergency fund, but when you have a young child and you're a single income family, you want to aim for six.) If your fiance earns any income from part-time work or freelancing, she could contribute it to a Roth IRA. Or you...
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Saving for two on a single income

Will S. ·
My fianc é is currently not working full time (focusing on child care). As such, she’s not contributing to any retirement accounts. Does this mean I should double-down on my retirement investing to cover the both of us for the time being? I just turned 40 and she's in her 30s.
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Re: Saving for two on a single income

sthom ·
Kudos for staying out of credit card debt, @Will S. That's an achievement right there. I agree with @Dear Penny . Give yourself a break.
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Re: An Annuity

Karen Robinson ·
Thank you for the real deal...I am seeking some help now, trying to find an advisor. I am also very ill and may need to be hospitalized, so I am frightened of losing my money. I went online this morning and have lost $20,000 of my $5000,000.00. I do believe annuities may be a bad idea, however, I cannot lose any more money as when I said I am alone, I have no spouse nor significant other, children, nor family. No one to rely on. I need to work yet my doctor told me I needed to stop. I am a...
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Re: Saving for two on a single income

Will S. ·
Thanks @Dear Penny and @sthom I'm maxing my matched 401k contributions and hope to max out my Roth IRA as well (although, well, maybe next year). Still have a little loan debt to focus on paying off first!
 
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