Latest Buzz

Know Your State Retirement Plan

Forum: Retirement
Anita Manuel
I am a retirement specialist serving school districts in Florida. I want to encourage all school district and state employees to please be aware of your state's retirement program basics. We speak to many of the teachers and staff and find that they are not aware that their pension is partial. They are unaware of the impact of beneficiary choices. DROP is not for everyone so before you sign up please reach out to me. Unfortunately, many feel that variable 403b's and retirement accounts are...Read More...
Thank you so much. I am new and I appreciate you for helping me learn boundaries!!😊Read More...
I don't think this is appropriate for this forum. I understand you may be trying to help people with retirement planning, but your offer to have people reach out to you with questions doesn't seem like it belongs here.Read More...
Last Reply By Anita Manuel · First Unread Post

Rental property

Forum: Investment
I am thinking it would be great to purchase a condo in Scottsdale, AZ. The market there has been going up more than 5% a year. I rent a condo there for a month in the winter. I am spending what would be about 4-5 months mortgage payments! I am wondering if I can afford to buy the condo or if it would ever be advised with this volatile time? I am retired, so limited on funds and would need to have a mortgage.Read More...
Thanks, JeremyM. Your advise sounds reasonable. Since I'm not real savvy in investments, could you elaborate a little more about the REIT? I'm not familiar with that term or type of investment.Read More...
This is certainly a possibility but you definitely need to go into it with your eyes wide open. Rental rates in the right properties in the sunbelt are going to keep going up but you can't get a year round renter if you are planning on using it yourself. You can hire a management company, but for shorter term vacation type rentals expect to pay 25% or more of the rent to them, where a regular leased rental may be managed for 10% or so. So, how are you going to rent it out? Airbnb? You would...Read More...
Last Reply By Pokey · First Unread Post

Off the road and home

Forum: Save Money
Shannon H
I've been working away from home for a little over 12 weeks....hotel living was somewhat nice as someone else did the cleaning. I was home for Christmas and weekends but really didn't have much home life...finding my routine again has become a struggle.... I spent too much on frozen foods or convenience snacks for hubby which has not been great for budget or saving money...... Trying to get back into my weekly meal planning and seem stuck in food rut... make chili on Saturday and have plans...Read More...

Background checks

Jojoyou67
How long do background checks for employment go back?Read More...
Maya Angelou is quoted as saying, "when you know better, you do better," and that's the lesson here. Don't be embarrassed as you're moving forward. God's speed!Read More...
No reason to think that way. We're here to help and most of us are in similar situations. Hope it all works out for you.Read More...
Last Reply By Ray Burow · First Unread Post

Refinance Mortgage - When and How??

When should you consider refinancing your mortgage? What is the process to figure out if you should or should not??Read More...
Due in part to the corona virus scare, now is one of the best times historically you could ever consider refinancing as rates are at almost unheard of lows. Normally the criteria is if you can save at least 1.0 percentage point AND you plan on staying for at least 5-7 years, you will be ahead refinancing. Keep in mind there are substantial fees involved. Generally $3000 - $4000 on a $200,000 mortgage as an example. These fees either have to be paid at close or (as long as you have enough...Read More...
ThanksRead More...
Last Reply By DipperDave · First Unread Post

The best Entrepreneurship Podcast out there

Elon Must Save
This is a short and sweet post. I have listened to tons of business podcasts. Hundreds of hours from Masters of Scale, how I built this, entrepreneur magazine, etc. But the best is My first Million. I shared a link to it below also, they have a daily email called the Hustle also linked. I hope they will inspire you as much as they have inspired me! https://thehustle.co/my-first-milliion Also to be clear on the email link this is a referral link. I am not sharing to win anything or make any...Read More...

Inheritance investment ideas

Andrew Carty
Hello, all. I've recently inherited some money in access of 60k. While would treat this as a lottery winning. After some charitable moves and considerations I would like to grow the funds over the next 15 to 25 years. Anyone have any insights or experiences to share? Any info is welcomed good, bad, or ugly. Thanks in advance. -ADCRead More...
Hi, first of all, congratulations on your inheritance. Also, congratulations on taking a big breath in and relaxing before you make a move. I am a retirement specialist for the past 8 years. My company serves the school districts as retirement educators and we are the number one provider. We educate teachers and staff on their state retirement system, 403b's, and other programs that affect their retirement. We also offer life insurance and other savings programs to the general community and...Read More...
yes I concur, this is for a professional. Invest so your money will grow exponentially! congratulations and good luck!Read More...
Last Reply By Anita Manuel · First Unread Post

Student Loan - Public Service Loan Forgiveness (Income-Based) - Payment Decrease?

Forum: Debt
I just recently sent my information in for the income based student loan program under the public service loan forgiveness program. I noticed that my monthly payment decreased even though my salary increased (modest increase). Does this typically happen after you have been paying your loans for awhile? I have been paying for about 6-7 years now and every year it increased, but this year it decreased.Read More...
Thanks. Didn't think about the interest rate, but I will try and make more payments.Read More...
Even if it has decreased, if you can afford to make the payments you're currently making or were expecting to pay more, I'd make a higher payment. Perhaps the interest rate decreased, and your payment was adjusted accordingly?Read More...
Last Reply By Leon · First Unread Post

How Do You Save Money in Retirement?

Forum: Retirement
Nicole D.
I have a question for all the folks who are currently retired. How do you cut costs and save money in retirement? I'm gathering savings tips for a story on The Penny Hoarder, so your responses may be included! Thanks in advance!Read More...
Think of how you started to build an emergency fund to begin with. Consistent deposits into that fund, however small, will build it up again. If possible, consider working PT temporarily to build the fund again. Tighten your belt with expenditures if need be to accommodate those deposits. Check back regularly for some of the GREAT tips that have already been posted. Good luck!Read More...
Great tips for saving day to day! I'm hoping to retire this year and my biggest financial fear is that once I'm on a truly fixed income, should I need to dive into my emergency fund, how difficult it will be to ever rebuild it?Read More...
Last Reply By Umleitungme · First Unread Post

Pay all bills on one day or spread throughout the month??

Forum: Budgeting
triplea87
I would like to get a consensus here. Who pays all of their bills (including rent/mortgage) on the same day of the month versus spreading out over the course of the month? (Ex. paying rent/mortgage on the first and the remaining bills on the 15th). I imagine this has a lot to do with paycheck cycles and I can see the convenience of the former but there are advantages to the latter from a cashflow perspective for those who may be living paycheck-to-paycheck.Read More...

How I save money on pest control

Forum: Save Money
Elon Must Save
Pest control can be so expensive. I have seen prices from $99 to $130 for quarterly treatments. Bugs are annoying but that is a high cost to get rid of them. I recently found and started using a more affordable option. The company is called pestie.com and it's so much more affordable and so far its worked great. Hope this helps!Read More...

If you are self-employed what do you do about health insurance?

Forum: Insurance
mintjulep
I was self-employed most of my career and, after years of increasing, staggering, barely affordable health insurance premiums as a single person, I was introduced to HSAs (Health Savings Account). They are not a solve-all for the high cost of health insurance premiums but they offer tax savings when the money you invest in an HSA is used to off-set medical expenses with a high deductible insurance plan. Any funds you invest are pre-tax dollars when you invest and also when you withdraw the...Read More...
Think long and hard about Medi Share type programs. I have had patients that were dropped for such things as having a baby. The family was stuck with thousands of dollars in medical bills. They are NOT regulated like insurance.Read More...
Patti, a Health Savings Account (HSA) is used in conjunction with a high deductible health insurance plan. This is a short explanation at this site and for Wisconsin: https://www.ehealthinsurance.c...nce/health-plans/hsa The money put into the HSA is tax free and remains so if used for qualified medical expenses and purchases not covered by your regular health insurance plan ( some over the counter drugs, etc qualify!) If you are on Medicare, there are no HSA available to use with Medicare...Read More...
Last Reply By Anne Klein · First Unread Post

Maybe Obvious, Maybe Not

Forum: Save Money
Jenny Waldensi
I haven't seen this addressed, so maybe when you read this you'll think "No brainer," or maybe you'll think "Ah! Another way to save money!" At that, I'll take the risk and pass it on. Here in Missouri, the State offers 2 nature magazines free of charge for any MO resident. (There is a fee for those out of state.) Missouri Conservationist (adult readers) and Xplor Adventures in Nature (for children) are colorful, glossy magazines that inform and entertain. They are great for Home-School...Read More...

Changing my eating habits is changing my finances

Forum: Budgeting
lismox
For the New Year I decided to finally lose those pesky 25 pounds. Rather than going on any specific diet I decided to rein in my portion sizes and reduce my calorie count. So far it's working since I'm down 5 pounds. Only 20 more to go! I was a total Starbucks junkie before changing my eating habits. Now I've been going only like once a week since I don't want to use up my daily calories on drinks. It's been helping me a lot! Not only is it helping my waistline, it's helping my budget. Has...Read More...

Motley Fool

Forum: Investment
Hi Everyone I'm checking in about a subject that's as foreign as it could possibly be. After a couple yrs now I've come to trust almost any source promoted by PH. I've wanted to take small steps in investing for awhile so just put $100. Into Motley Fool last week. Anyone have sustained interaction with them you want to share + tips or feedback? Lastly, why is it called, M Fool? Thanks in advance!!Read More...
Motley Fool is a great source for advice on stocks -- lots of rave reviews from our email subscribers on this one. And...they've been around forever (since the 90s). As for the name...."Our name derives from Elizabethan drama, where only the court jester (the " Fool ") could tell the King the truth without getting his head lopped off. We're dedicated to educating, amusing, and enriching individuals in search of the truth."Read More...
I've never heard of that, but now you have made me look it up!Read More...
Last Reply By Theodora · First Unread Post

Debt consolidation help in Canada

Forum: Debt
JKO
I have close to 50k in debts, almost half of which is student loans and the other half credit cards. I recently got my first good job since relocating to Canada as a skilled immigrant almost 8 years ago with 4 children, and am trying to be more financially strong. I heard on radio about debt management nonprofits (in the US) that help consolidate one's debts, but have not been able to find any in Canada. I also heard that with debt consolidation, one can get credit card debt renegotiated and...Read More...
I wish I could help (!), but I'm living in the states. Any PH from Canada???Read More...
Last Reply By KellyFromKeene · First Unread Post

Does enterprenuership good for freelancers?

Ronnie Arnett
We have tough time to buildup financial risks in the hope of profit. From last 3 months really hard to earn my wages. Did any tough decision to take or move on next step. Please comment, if you have to share some thought on this. It will bring some lead to me.Read More...
Ronnie, I am not sure what you are asking. I'm sure people may have comments, but would you please clarify?Read More...
Last Reply By KellyFromKeene · First Unread Post
Hi Team, I use the word team because I feel like we are all on the same team here at PH. I had a conversation at work today about the best way to figure out what business to start. I thought this would be a great place to start for a lot of people in the community. The Filter process. Every day lots of people come up with ideas for possible business, they think oh wow that is a problem I am having and others must have it too. This is a great mindset to have. It takes brainpower to realize an...Read More...
Great filters @ELAN MUST SAVE !Read More...
Last Reply By mintjulep · First Unread Post

Financial Fitness February: Day 29

Moore Income
Today is the day. The Financial Fitness February journey for 2020 is coming to an end. I have learned a lot over this journey and it has been great to keep track of all my financial WINS and a few small hiccups along the way. I hope it has been as informative to you as it has been to me and I appreciate all who took the time to read about my journey. I enjoyed hearing about all your WINS as well and I look forward to getting to know each and every one of you better here in this community and...Read More...
I enjoy reading your adventures as well! Not only to share the celebration of your wins, and reflect on your losses, but your organization and dedication to obtain your goals helps me stay focused on my own goals and strive to be as dedicated as you are @Moore Income ! Thanks for sharing and encouraging us!Read More...
I am glad you did ! @MsKimberlyRead More...
Last Reply By mintjulep · First Unread Post

Financial Fitness February: Day 28 (FREEBIES)

Moore Income
Hard to believe we have already made it to the last day of the month... but wait, we get an extra day this year! Who else is "leaping" for joy! Today was a pretty good day for my finances. Here are a few things that went down. 1.) Invested In My Business Up until today, most of my investing in my reselling business has been in sourcing items to resell. I did however end up buying a few things for the day to day operation of my business. The two things I spent money on were paper to print...Read More...
@mintjulep It should be a fun little challenge. I will definitely post about it on here and plan to make some videos about it as well. Thanks for checking out my videos. It takes a lot of work to make them and it is nice to know that there are people watching them!Read More...
And I love games!Read More...
Last Reply By Moore Income · First Unread Post

This week’s Community Announcements 2.28.20

Maryann
Hi everyone, Tomorrow is February 29! I must know: how is everyone planning on spending the extra day this year? With another month almost behind us, I’m also keen to know how everyone is faring with their money goals for the year? Any progress? Setbacks? Please share, so we can continue to support one another. Big shout out @Moore Income for sharing his Financial Fitness February journey with us. If you’re not familiar, this past month, Jon shared a daily money tip that he actively applied...Read More...
@Jobelle Collie What a sad state of the world, that our first act to repair damage from a disaster is to screen out the scammers. Best wishes for a successful endeavor!Read More...
Saving money is always a great way to spend an extra day! @Jobelle CollieRead More...
Last Reply By dboothe · First Unread Post

Payoff Focus

Forum: Credit
Rick Campbell
I have a question, what should I focus on paying off first, my credit cards or my loans? My credit cards have ZERO interest for at least 12 more months and the balances are not very high. My loans are charging interest and it is possible to pay one or both off in the next 10 months allowing me time to possibly pay off the zero interest credit cards. I am just not sure if I should focus on the credit cards or the loans. My goal is to reduce my monthly payments every month by paying off the...Read More...
That's my plan pretty much, it may vary a little depending on when interest starts on the cards and if I have time to pay the personal loan off first or do the cards then the personal loan after, this is after the auto is paid first.Read More...
Personally, I would pay off anything with an interest rate first and pay the minimum (or more if possible) on zero interest loans or cards after.Read More...
Last Reply By Rick Campbell · First Unread Post

Financial Fitness February: Day 27 (Took a LOSS)

Moore Income
Today not a lot happened for me. I was home most of the day working on stuff for my reselling business and YouTube channel. With my job starting back up next week, I am trying to get everything organized to be able to focus on my reselling business every day when I get off work. That being said, I also plan to stop buying stuff in March and focus primarily on listing items so I can start increasing my sales. I am going to try to set a specific goal of how many items I want to list per day.Read More...
That sounds wonderful. I did not know you could make money walking real estate flyers.Read More...
I was feeling under the weather this morning so I didn't walk my real estate flyers but I rescheduled for Monday. Every bit of income I get from doing that I'm going to put in my Acorns account, even if it's like $20-25 at a time. My other win - I passed the first qualification stage to be a rater on Lionbridge. You can google them for information. I have to study for, take and pass a test in order to qualify. They said I should spend about 10 hours studying for the test, which is do-able. I...Read More...
Last Reply By MsKimberly · First Unread Post
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