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Baby Boomer Going Like Sixty

Baby boomer man humorously looking at life after 60, retirement in Costa Rica and Florida.

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Smart Financial Ideas to Be Independent

Baby Boomer Going Like Sixty Posted on December 2, 2020 by goinglikesixtyDecember 2, 2020

Being financially independent should be a goal for all young adults. No matter what your goals are, learning smart money practices is still a good idea. Learning how to manage your money is one of the skills you will need in the future. As we age, we usually become wiser after making mistakes. We learn that there are smarter ways of doing things. One of those things is to learn how to be financially prepared for the unexpected.

There is no way to be fully prepared for what life throws at us since no one can really see the future. However, you can at least be better off if you’re financially ready for extra expenses. Here are some ways that you can achieve financial independence for yourself.

  • Know your priorities. By knowing what is most important to you, you can then plan accordingly. Necessities are of great importance. You have to have at least some money to survive. If one of your goals is to buy a house, for example, you’ll need to build up your credit to obtain a mortgage later. When the time comes to start house hunting, you’ll be financially ready. You’ll also need to figure out what you want in a house in addition to making yourself ready to buy one. You’ll need to make sacrifices for things to be able to get other things that you want.
  • Calculate your income and plan a budget. One smart way to plan your budget is to use the 50-30-20 rule. Half of your income should go towards your housing and necessities. Next is to set aside 30% of your income for spending money, such as vehicle fuel, entertainment, impulse spending, etc. After allotting spending funds, you should budget 20% of your income to go towards your savings and debt payments.
  • Build up an emergency fund. If you follow the 50-30-20 rule, then the final 20% should be going into a savings account to plan for unexpected expenses. Emergency savings can help you to be prepared to handle your expenses if you would lose your job. After you have an emergency fund set aside, concentrate that 20% on paying off your debt.
  • Saving for retirement early. Most companies offer a retirement plan as a part of their benefits package. Some employers will match your contributions into it. If your employer doesn’t offer retirement planning options, then you can also set up a retirement account on your own. You can research almost anything on the internet. There are likely thousands of websites that can offer useful information about investing. Some internet sources are not very reliable, so make sure you’ve got credible sources. Insider trades is a source that can help you to research investment opportunities. If you need more help with investing, a stockbroker handles investment portfolios. They can also help you with making your investment decisions.
  • Look for ways to save money. Planning for your future is very important, but thinking about the present time is also important. Many people and companies may try to deceive you so they can make a quick buck. If you discover some ways to save money, you can then set your mind at ease. You can try bundling some services or switching to another company to save some money. Making the most out of your money is another source that can offer you some great financial advice and more.
  • Look out for free tools that can help with budgeting. There are also many budget planning applications available for smartphones and other devices. Often you can receive financial services through your bank as well. Online banking and bill paying are some of the services that you can receive from banks.

Budgeting is critical in planning personal finances. There is a quote from Benjamin Franklin that applies to many concepts in life, “If you fail to plan, then you’re planning to fail.” No one wants to fail, but it does happen. So it is much better to be prepared for problems that can arise. Planning sometimes provides an extra cushion to help the person overcome financial hardships faster.

Posted in Baby Boomer, Money

How To Make The Most Of Your Money In Life

Baby Boomer Going Like Sixty Posted on November 11, 2020 by goinglikesixtyNovember 11, 2020

Money in life is important to have, and although it can’t buy you happiness, it can certainly allow you to live more comfortably where needed. In order to make the most of it, it’s important to be smart about your money in more ways than one. If you’re smart, then your money is going to stretch further, and you might even make more money from it. With this being said, here’s how to make the most of your money in life.

Have Financial Goals

Firstly, it’s important to have goals in life because they can drive you to further success. Some of these goals can be career-driven, some can be personal life goals, and others might be financial goals. Financial goals could be saving for a certain type of car or paying towards a deposit for a new home. There are lots of financial goals that you can have, and these can range to goals that can be achieved on a daily basis to those that might take a decade to achieve. It’s good to have a variety because they all help each other and can help you to budget your money better. Try to set yourself up with a few goals at first and start to build up to where you can so that you’re successfully saving more money. The more savings pots you can have for a variety of reasons, the better life quality that tends to come with it. Again, goals can help to drive your motivation and sometimes that’s what’s needed in order to be successful in your finances.

Invest Where You Can

Investing your money is very important, and when it comes to making the most out of your money, it’s certainly essential to invest. Not everyone will invest their money for fear of making no return. For some, they may not even get the money that they invested, back into their pockets. However, that is the risk you take when investing, and it should be noted as such. Think about the investments that you’re interested in and what might be worth taking advantage of. With any investment, it’s good to be wary of what they entail and the research that goes into them. If you go in with all the information you need and awareness of the investment’s advantages and disadvantages, there are fewer things that could go wrong.

Be wary of your investments, trust your gut and know when it’s the right opportunity to put your money into it.

Make Smart Decisions In Your Living Situation

We all make necessary decisions surrounding our living situation, where we choose to go with a hdb for rent in Singapore, or you decide to buy a property on your own. Whatever age or position you’re in, it’s always good to think about your living situation and the smart decisions you can make from it. If you and your partner, for example, are living in a big home where your children have flown the nest, it might be worth downsizing. The last thing you want is to be paying an excessive amount of money on bills and mortgage payments for a property size you don’t need. These smart decisions can be key to you getting the most out of your money and saving it in parts.

Keep Yourself Out Of Debt

Debt is not something you want to actively put yourself into on a regular basis. The more debt you allow yourself to get in, the more danger you have when it comes to your own money and assets. It’s worth paying off any debts as soon as you accrue them and to have a financial plan that ensures this happens as soon as possible. Debt is sometimes a thing you can’t help to happen, but the sooner you go about paying it off, the better financial position it leaves you in. The mental health side of being in debt can also be dangerous to your health and can put you under a lot of pressure as a result. Give yourself a deadline to pay off debts so that you can stay debt-free for the most part.

Consider Your Outgoings

Your outgoings are definitely something you want to consider when it comes to your expenses as there are likely things you don’t need. Cut down on the luxuries where necessary and treat yourself as and when it’s needed. Controlling your spending is important to making your money go further.

By following these tips, you are sure to make the most out of your money.

 

 

 

Posted in Baby Boomer

Big Bad Don

Baby Boomer Going Like Sixty Posted on October 20, 2020 by goinglikesixtyOctober 20, 2020

Big Bad Don (parody of Big Bad John by Jimmy Dean)

Every noon, about twelve o nine you could see him arrive

He stood six foot two and two eighty five

Kinda broad in the middle and around the hip

And everybody knew ya didn’t give no lip to big Don

(Big Don, big Don)

Big bad Dion (big Don)

Nobody seemed to know where Don called home

He just drifted into town and stayed all alone

He said a lot, a loudmouth guy

And if you listened at all, you just heard shit from Big Don

Somebody said he came from Queens

Where he got in a fight over a bankruptcy lien

And a crashin’ blow from a tiny right hand

Sent a Duetche Bank fellow to the promised land, big Don

(Big Don, big Don)

Big bad Don (big Don)

Then came the day at the bottom of the DOJ

When a case cracked and men started cryin’

Family was payin’ and hearts beat fast

And everybody thought that they’d breathed their last, ‘cept Don

Through the Covid and the recession of this man-made hell

Walked a spineless man that the staffers knew well

Grabbed a saggin’ Russian, who gave him a loan.

And like a puny little sap he just stood there alone, big Don

(Big Don, big Don)

Big bad Don (big Don)

And with a mighty curse he found his chauffeur

Then he cried out “but I got bone spurs.”

And twenty men scrambled from a would-be grave

Now there’s only one left down there to save, big Don

With severance and dark money, they left him alone.

Then came that rumble way down in the ground

And then smoke and gas belched out of that mine

Everybody knew it was the end of the line for big Don

(Big Don, big Don)

Big bad Don (big Don)

Now, they never reopened that worthless pit

They just placed a gilded stand in front of it

These few words are written on that stand

At the bottom of this mine lies a big, flim flam man

Big Don

(Big Don, big Don)

Big bad Don (big Don)

(Big Don) big bad Don

Posted in Baby Boomer

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