family https://www.wisebread.com/taxonomy/term/4558/all en-US 8 Ways to Preserve Your Net Worth in Retirement https://www.wisebread.com/8-ways-to-preserve-your-net-worth-in-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-ways-to-preserve-your-net-worth-in-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/reaching_their_savings_goals_with_smart_technology.jpg" alt="Reaching their savings goals with smart technology" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>We all know the key to a comfortable retirement is amassing enough wealth to last your entire post-work life. But if you truly want to ensure financial security, you should work to maintain or even build upon your net worth as you age. This requires an aggressive level of saving when you are young, and a lot of discipline along the way &mdash; but it can be done.</p> <p>Let's examine some ways you cannot only make your retirement savings last, but also protect all of your net worth throughout your lifetime.</p> <h2>1. Budget and plan wisely</h2> <p>Retirees generally see their expenses decline as they age. The kids are out of the house, college is paid off, homes are owned free and clear. Don't get too cocky, though; you still need to ensure your expenses don't outpace your income. Continue working hard to live within your means. Keep budgets for most expenses, and develop savings plans for any big-ticket purchases. If you want to maintain your net worth, you can't allow your day-to-day cost of living to get out of hand.</p> <h2>2. Downsize</h2> <p>Do you need to live in such a large house? Do you really need two cars? You can reduce your day-to-day expenses and make your retirement funds last longer by simply scaling down your possessions. Considering selling some of your material items and converting them to cash for living expenses or for investing. Or, just donate them to charity and potentially get a tax break on donations.</p> <p>Even though the footprint of your life may be getting smaller, your net worth can actually increase under these circumstances because you may be converting physical assets (house, car, etc.) to investments that can rise in value and generate new income. (See also: <a href="http://www.wisebread.com/7-reasons-you-need-to-downsize?ref=seealso" target="_blank">7 Reasons You Need to Downsize</a>)</p> <h2>3. Never spend your principal</h2> <p>In an ideal world, you are spending your retirement living off the gains and interest from your savings, not the savings itself. If you amass enough savings, that sum can by itself generate its own income in the form of interest, dividends, and capital gains, and it may be possible to live on that income alone. You need a lot of money saved to make this happen, but it's a wonderful feeling to know you are living comfortably without ever tapping into the bulk of your savings.</p> <h2>4. Avoid taking on new debt</h2> <p>You may be tempted in retirement to finally buy that beach house, that luxury car, or that set of his-and-hers personal watercraft. This is fine if these are things you saved for, but you can't let yourself go overboard. The last thing you want is to take on new debt that will add to your expenses at a time when your income is drastically reduced.</p> <p>Borrowing can lead to interest payments, which can lead to more debt, and then you're seeing your nest egg and net worth drop faster than you ever intended. Avoid debt &mdash; especially new debt &mdash; and you will be in much better shape financially as you age. (See also: <a href="http://www.wisebread.com/what-to-do-if-youre-retiring-with-debt?ref=seealso" target="_blank">What to Do If You're Retiring With Debt</a>)</p> <h2>5. File for Social Security as late as possible</h2> <p>Anyone can begin accepting Social Security benefits starting at age 62, but if you can wait until you're 67 (what the Social Security Administration considers full retirement age), you'll get 100 percent of your benefits. Accepting benefits before your full retirement age means you'll receive lower monthly payments, costing yourself thousands of dollars annually. (See also: <a href="http://www.wisebread.com/6-smart-ways-to-boost-your-social-security-payout-before-retirement?ref=seealso" target="_blank">6 Smart Ways to Boost Your Social Security Payout Before Retirement</a>)</p> <h2>6. Continue to invest</h2> <p>It may seem counterintuitive to consider investing when you're looking to protect the income you have. But there is a growing body of evidence to suggest that it's OK to invest in stocks even as you get older. Why? Because people are living longer and are more likely to outlast their savings.</p> <p>Continuing to invest smartly in stocks can help you increase your savings and make it last longer. It's certainly wise to move most of your money into safer things like bonds and cash, but setting aside a certain portion for stocks could mean the difference between seeing your net worth shrink and watching it grow.</p> <h2>7. Pay as little tax as you can</h2> <p>Hopefully, you've used tax-advantaged accounts such as a 401(k) and Roth IRA to build your retirement savings. When you retire, you no longer have those vehicles at your disposal. But there are some things you can do to keep the government from taking too much. First, you can work to ensure that any income you have is taxed at as low a rate as possible. This means taking advantage of stock dividends and long-term capital gains, which are taxed at lower rates than normal income. It means purchasing tax-free municipal bonds. It means claiming as many deductions as you can on your taxes. Taxes are necessary to keep our society upright, but there's no reason to pay more than required.</p> <h2>8. Avoid bailing out relatives</h2> <p>This is not an argument against helping out your children or other loved ones with financial expenses. But it's important to be thoughtful about how you help and the impact it may have on your finances. Is the money you are giving to your adult child simply throwing good money after bad?</p> <p>If you are helping to take care of the grandkids, are you being reimbursed for the child care expenses (food, clothes, etc.) you are taking on? Remember that in order to make your retirement funds last, you can't be giving away your savings carelessly. (See also: <a href="http://www.wisebread.com/are-you-ruining-your-retirement-by-spoiling-your-kids?ref=seealso" target="_blank">Are You Ruining Your Retirement by Spoiling Your Kids?</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-ways-to-preserve-your-net-worth-in-retirement&amp;media=https%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Ways%2520to%2520Preserve%2520Your%2520Net%2520Worth%2520in%2520Retirement.jpg&amp;description=8%20Ways%20to%20Preserve%20Your%20Net%20Worth%20in%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/8%20Ways%20to%20Preserve%20Your%20Net%20Worth%20in%20Retirement.jpg" alt="8 Ways to Preserve Your Net Worth in Retirement" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="https://www.wisebread.com/8-ways-to-preserve-your-net-worth-in-retirement">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-ways-to-embrace-having-to-work-in-retirement">5 Ways to Embrace Having to Work in Retirement</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/9-essential-personal-finance-skills-to-teach-your-kid-before-they-move-out">9 Essential Personal Finance Skills to Teach Your Kid Before They Move Out</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-things-millennials-can-do-right-now-for-an-early-retirement">8 Things Millennials Can Do Right Now for an Early Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-signs-its-time-to-retire">8 Signs It&#039;s Time to Retire</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/12-money-moves-to-make-the-moment-you-decide-to-retire">12 Money Moves to Make the Moment You Decide to Retire</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement budgeting downsizing family giving money investing net worth retirees social security taxes Thu, 21 Jun 2018 08:01:16 +0000 Tim Lemke 2149185 at https://www.wisebread.com 5 Things to Consider When Buying a Larger Home https://www.wisebread.com/5-things-to-consider-when-buying-a-larger-home <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-things-to-consider-when-buying-a-larger-home" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/family_holding_keys_to_new_home.jpg" alt="Family holding keys to new home" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>That two-bedroom home near the heart of the city was perfect when you and your partner first bought it. But ever since you started a family, that once quaint home feels crowded. It's time to upsize to a larger residence. This is a big move with plenty of factors you need to consider before you make an offer on a sprawling home in the middle of the suburbs.</p> <p>Are you financially ready for the extra expense that comes with a larger home? And what are you willing to sacrifice to get that extra square footage? If you want that new home purchase to be the right one, you need to consider some key questions.</p> <h2>1. Can you afford it?</h2> <p>Bigger homes come with bigger price tags. But the sales price isn't the only inflated cost you'll face when upsizing.</p> <p>Bigger houses come with bigger property tax bills. You'll also have to spend more in homeowners' insurance to protect that home. Then there are the utility bills. A larger home costs more to heat and cool than a smaller one. If your big home comes with a sprawling front and backyard, will you mow the grass yourself or pay for a landscaping crew?</p> <p>Before making an offer on an upsized home, consider all the extra costs that come with it. Study your existing household budget and determine if the actual costs of a bigger home fit in. (See also: <a href="http://www.wisebread.com/7-added-costs-that-come-with-a-bigger-house?ref=seealso" target="_blank">7 Added Costs That Come With a Bigger House</a>)</p> <h2>2. How much space do you really need?</h2> <p>You might just need an extra bedroom or two, but not a three-car garage or an added office space. If you'd never use that extra room or space, it'd just be a waste of money.</p> <p>When looking at homes for sale, consider the way your family lives. If you don't do much cooking, you probably don't need a huge, state-of-the-art kitchen. If no one works from home, you likely don't need a home office. You can save money by buying a home that only includes the space your family needs, or will need as you add children. If your family is growing, having extra bedrooms is key. If you have young children, extra outdoor space is another plus. (See also: <a href="http://www.wisebread.com/5-best-neighborhood-features-for-new-families?ref=seealso" target="_blank">5 Best Neighborhood Features for New Families</a>)</p> <h2>3. What are you willing to give up?</h2> <p>You might love living in or near the city, but finding larger homes in an urban neighborhood can be difficult. And when you do find a bigger home in the city, it's likely to come with a sky-high price tag. You might have to move to a new neighborhood in a more suburban area if you want to find a bigger home that fits your budget.</p> <p>Are you willing to make that trade-off? Moving farther from the city could mean a longer daily commute to work. It might also mean you spend more time in the car to get to your favorite restaurants and shopping centers.</p> <p>Extra space often comes with trade-offs. You might gain extra bedrooms, a luxurious bathroom suite, and a bigger backyard, but you might lose the convenience and excitement of living in a big city. Be sure to consider those compromises before you move. (See also: <a href="http://www.wisebread.com/how-to-research-a-homes-location-before-you-buy?ref=seealso" target="_blank">How to Research a Home's Location Before You Buy</a>)</p> <h2>4. What happens when it's time to sell?</h2> <p>You may plan on living in your bigger house forever, but plans change. Your family might continue to grow. Your employer might transfer you to a new city. You might want to downsize as you age and your children move out. When it's time to sell, will your bigger home be attractive to potential buyers?</p> <p>You always need to keep resale value in mind when shopping for a new home. Yes, you want a home that's big enough for you and your family. And, yes, you want one that you will enjoy. But if you buy a house with features that might turn away a high percentage of potential buyers &mdash; maybe it boasts a large theater designed exclusively for cinephiles or an extravagant indoor pool that costs money to maintain and clean &mdash; you'll struggle to sell it for the price you need to turn a profit.</p> <h2>5. How long will you need that extra space?</h2> <p>Your home might be cramped now, but is this a permanent or temporary condition? Say your oldest children are only a few years away from heading off to college. Could you live with the crowded conditions until they move out? That way, you won't have to bother with shopping for a new home, applying for a mortgage, and hiring a mover only to find that your new, larger house feels empty once your older children are out of the home for good.</p> <p>What if your home feels small because in-laws are living with you, or your adult children have moved back home? If both of these situations are temporary, you can again save plenty of stress and money by waiting them out.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-things-to-consider-when-buying-a-larger-home&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Things%2520to%2520Consider%2520When%2520Buying%2520a%2520Larger%2520Home.jpg&amp;description=5%20Things%20to%20Consider%20When%20Buying%20a%20Larger%20Home"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/5%20Things%20to%20Consider%20When%20Buying%20a%20Larger%20Home.jpg" alt="5 Things to Consider When Buying a Larger Home" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="https://www.wisebread.com/5-things-to-consider-when-buying-a-larger-home">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-added-costs-that-come-with-a-bigger-house">7 Added Costs That Come With a Bigger House</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/heres-why-your-house-is-not-an-investment">Stop Thinking of Your House as an Investment</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/yes-you-need-home-title-insurance-heres-why">Yes, You Need Home Title Insurance — Here&#039;s Why</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-money-moves-that-will-ruin-your-mortgage-application">5 Money Moves That Will Ruin Your Mortgage Application</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/heres-whats-included-in-a-homes-closing-costs">Here&#039;s What&#039;s Included in a Home&#039;s Closing Costs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing bigger house expenses extra space family homeownership mortgages property taxes upsizing Fri, 01 Jun 2018 08:30:20 +0000 Dan Rafter 2144958 at https://www.wisebread.com 9 Things to Consider Before Retiring to a Tiny Home or RV https://www.wisebread.com/9-things-to-consider-before-retiring-to-a-tiny-home-or-rv <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-things-to-consider-before-retiring-to-a-tiny-home-or-rv" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/senior_couple_on_road_trip.jpg" alt="Senior Couple on Road Trip" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Magazines and design blogs are full of stories of retirees downsizing to tiny homes to cut their expenses and responsibilities. With costs around $30,000 and monthly utilities as low as $15, some enthusiasts even say that trading a traditional home for a tiny house or RV allowed them to retire early. While the tiny house trend is pretty new, retiring to a life on the road in a recreational vehicle is an established tradition among retirees.</p> <p>Should an RV or tiny house show be your first stop once your final day on the job is over? Not so fast. Committing to a major purchase immediately after retirement is rarely a good idea, and there are plenty of important things to consider first.</p> <h2>1. Will your tiny home be legal?</h2> <p>Federal codes as of 2018 state that a house must be at least 88 square feet, but many states have additional regulations. In areas of North Carolina, for example, you need at least 150 square feet, plus 100 square feet more for each additional resident.</p> <h2>2. What will you do with your stuff?</h2> <p>The average retiree has a lifetime's accumulation of possessions in their home: Gifts from children and grandchildren, collections, holiday decorations, kids' left-behind sports trophies. A tiny house or RV won't have room for any of that. You'll have to dramatically downsize, whether that means putting things in storage, giving them away, or having an estate sale.</p> <h2>3. What will the furnishings cost?</h2> <p>While you may be saving money on mortgage, utility, and property taxes with a tiny house or RV, don't forget that you probably won't be able to reuse any of the furniture from your previous home. You'll have to pay for built-in or custom-built furniture and appliances. (See also: <a href="http://www.wisebread.com/5-unexpected-costs-of-living-in-a-tiny-house?ref=seealso" target="_blank">5 Unexpected Costs of Living in a Tiny House</a>)</p> <h2>4. Will you be able to age in the home?</h2> <p>RVs and tiny houses are often perched on wheels or raised above ground. You may need to climb a ladder to reach your bed every night. What will happen if you end up using a cane or wheelchair? Will you be able to retrofit your tiny home or RV to make it accessible? I came across one retiree who had a rock-climbing harness modified to lift her into her loft every night; I can't help wondering how much she likes that setup if she has to use the bathroom at 2 a.m.</p> <h2>5. How will this affect family traditions?</h2> <p>If you hold a big Thanksgiving dinner every year in your regular home, don't imagine you'll continue the tradition in your tiny home or RV &mdash; at least not in the same way. These pocket-size residences have no entertaining space, and their kitchens don't facilitate cooking for a crowd. What will happen to the events you used to host? Will you invite loved ones to camp near you and eat turkey at a picnic table? Or will an adult child take over hosting?</p> <h2>6. Where will you park?</h2> <p>My husband and I sometimes daydream about spending our retirement parking an RV in the driveways of our grown children, visiting one after the other throughout the year. If this is your plan, what do your children think of it? Do they have an off-street place for you to park? What about water and sewage hookups? If you want a more permanent place for your tiny home, you'll need to find out if your state has tiny house co-ops, or what the rent would be in a trailer park. You can find out more about zoning through the <a href="http://americantinyhouseassociation.org/" target="_blank">American Tiny House Association</a>.</p> <h2>7. Will your relationship withstand the change?</h2> <p>If you and your spouse have both been working for decades, retirement itself will be a big change involving a lot more togetherness than before. Are you really ready to give up private spaces in your home to spend your days within a few feet of one another? If your spouse leaves his shoes on the floor, will it irritate you to no end that you can't even walk around them? Tiny homes and RVs typically have just one bathroom; are you ready to share?</p> <h2>8. Can you get a loan?</h2> <p>Some retirees are able to buy an RV or tiny home outright after selling their traditional home. But if you need a loan, you won't be able to take out a standard mortgage on a recreational vehicle. You'll need an RV loan, and since RVs are considered a luxury item, you'll need excellent credit to qualify. With a tiny house, you'll need either an RV loan or a personal loan. (See also: <a href="http://www.wisebread.com/3-ways-to-finance-a-tiny-house?ref=seealso" target="_blank">3 Ways to Finance a Tiny House</a>)</p> <h2>9. Which should you get, a tiny house or an RV?</h2> <p>Some people wonder why tiny houses cost more than RVs. Is it just because they're cute and trendy? Actually, there is a substantial reason: A good tiny house should be durable enough for everyday use, while RVs are built for vacation use, and tend to fall apart faster.</p> <h2>A word of advice: Try before you buy</h2> <p>Whether you think a tiny house or an RV is your ideal future home, you should rent at least one before you jump in and buy. Weekending in various styles of tiny homes and/or RVs is a good start, but remember that vacation life is always easier and more fun than everyday life. If you are serious about making the lifestyle leap, consider packing up and moving to a rented tiny home or RV for a substantial amount of time, like six months or a year, before you start shopping in earnest.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F9-things-to-consider-before-retiring-to-a-tiny-home-or-rv&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F9%2520Things%2520to%2520Consider%2520Before%2520Retiring%2520to%2520a%2520Tiny%2520Home%2520or%2520RV.jpg&amp;description=9%20Things%20to%20Consider%20Before%20Retiring%20to%20a%20Tiny%20Home%20or%20RV"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/9%20Things%20to%20Consider%20Before%20Retiring%20to%20a%20Tiny%20Home%20or%20RV.jpg" alt="9 Things to Consider Before Retiring to a Tiny Home or RV" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="https://www.wisebread.com/9-things-to-consider-before-retiring-to-a-tiny-home-or-rv">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-ways-to-preserve-your-net-worth-in-retirement">8 Ways to Preserve Your Net Worth in Retirement</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/12-money-moves-to-make-the-moment-you-decide-to-retire">12 Money Moves to Make the Moment You Decide to Retire</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-benefits-of-carrying-a-mortgage-into-retirement">5 Benefits of Carrying a Mortgage Into Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-questions-to-ask-before-buying-a-second-home-in-retirement">5 Questions to Ask Before Buying a Second Home in Retirement</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/10-places-to-try-the-airstream-lifestyle-before-you-buy-one">10 Places to Try the Airstream Lifestyle Before You Buy One</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing Retirement aging downsizing family loans recreational vehicle rv state laws tiny house travel zoning Mon, 21 May 2018 08:00:26 +0000 Carrie Kirby 2139752 at https://www.wisebread.com Should You Go on Vacation While You're in Debt? https://www.wisebread.com/should-you-go-on-vacation-while-youre-in-debt <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/should-you-go-on-vacation-while-youre-in-debt" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/saving_for_vacation_concept.jpg" alt="Saving for vacation concept" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When you're struggling to make ends meet and working to pay off debt, you may be inclined to skip the summer vacation. It just doesn't seem sensible to take a trip when you're trying to be diligent about saving.</p> <p>But taking a vacation isn't impossible, even for the most debt-ridden among us. In fact, getting away may just be the thing you need. Here are some reasons why a vacation shouldn't be out of the question, even if you're working to pay off debt.</p> <h2>You can keep it short and close to home</h2> <p>A vacation doesn't have to involve a three-week European tour. While that's something you'd love to do one day, it may not be in the cards right now. And that's OK. A short trip of just a few days can often have the same positive impact on your spirit and mood. Consider a three-day drive down the coast, or a long weekend at a beach house. Maybe even just a few days backpacking will do the trick. I have found that trips of four or five days can be just long enough to disconnect and recharge, but short enough to keep costs at a minimum. (See also: <a href="http://www.wisebread.com/yes-affordable-family-travel-is-possible?ref=seealso" target="_blank">Yes, Affordable Family Travel Is Possible</a>)</p> <h2>You can rough it</h2> <p>A pup tent and a bedroll is far cheaper than a five-star hotel. Camping's not for everyone, but if you love the outdoors, you can enjoy a wonderful vacation and truly get away. There are many National Parks that offer a low or even no entry fee, with sightseeing that is second to none. And if you have kids, it gets them off the electronics. Take a hike in the Smoky Mountains. Go canoeing on the Buffalo National River. These can be enormously fun and relaxing trips that will hardly cost you a dime. (See also: <a href="http://www.wisebread.com/camping-for-a-week-is-only-160-at-these-national-parks?ref=seealso" target="_blank">Camping for a Week Is Only $160 at These National Parks</a>)</p> <h2>You can share the cost with friends and relatives</h2> <p>No one likes a moocher, but you can save some serious coin by teaming up with friends and relatives. Hotels rates are based on double occupancy, so fill that room! Or consider renting out a house with a large group and splitting the cost. A weeklong rental in the Outer Banks of North Carolina may seem pricey, but not when it's split eight ways. You can save even further by grocery shopping and sharing cooking duties instead of eating out. (See also: <a href="http://www.wisebread.com/7-affordable-family-getaways-when-you-dont-have-a-vacation-fund?ref=seealso" target="_blank">7 Tips for Family Getaways When You Don't Have a Vacation Fund</a>)</p> <h2>A vacation can bring you mental clarity</h2> <p>One of the most important reasons to take a vacation is that it can allow you to get away from the day-to-day stresses of life and reflect on the bigger picture. If you can slow down for a few days, you may be able to think more clearly about your financial situation and your career goals. While on vacation, you may gain some understanding of why you are in debt to begin with. You might take time to re-evaluate your spending priorities. You may be able to recharge and decide to go after that higher paying job. It's hard when you are in the thick of things to make big changes to improve your life, but vacation can give you the fresh perspective you need.</p> <h2>A break from budgeting can be helpful</h2> <p>Getting out of debt requires strict financial discipline. You need to watch every penny that comes in and out, and this can be enormously stressful. It can be frustrating and depressing to constantly deny yourself things you want and to feel like you need to justify every dollar you spend. At a certain point, you just can't take it anymore, and you end up blowing through your budget or making irresponsible purchases. Taking a vacation can help. You don't need to go away for too long or spend too much, but giving yourself a break from the drudgery of saving money will make you hate it less. You'll come back refreshed and ready to tackle that debt load. (See also: <a href="http://www.wisebread.com/yes-you-need-fun-money-in-your-budget?ref=seealso" target="_blank">Yes, You Need &quot;Fun Money&quot; in Your Budget</a>)</p> <h2>Vacations can motivate your debt payoff</h2> <p>Who among us hasn't gone on vacation and found themselves wishing they could live like that all the time? A long weekend trip to Napa Valley might leave you wishing you could chuck it all and buy a vineyard. A few days laying on a beach in Florida can have you asking your boss if you can work remotely from Fort Lauderdale. A vacation can help you dream, and inspire you to make changes to improve your life. You may come to realize that it's the debt that's holding you back from achieving your dreams. If you leave a vacation saying, &quot;I wish we could do this more often,&quot; perhaps you'll work harder to pay off debt, save and earn more money, and make it happen.</p> <h2>It's better to spend money on experiences than things</h2> <p>Even when you're working to pay off debt, you're still going to be setting aside some money for things you enjoy. But there's a lot of evidence that paying for physical items isn't nearly as satisfying as spending money on experiences. In other words, forget the new flat-screen TV and go kite surfing instead. Experiences are more likely than possessions to contribute to your relationships, define your purpose and passions, and are generally more memorable. (See also: <a href="http://www.wisebread.com/4-reasons-you-should-splurge-on-experiences-not-things?ref=seealso" target="_blank">4 Reasons You Should Splurge on Experiences, Not Things</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fshould-you-go-on-vacation-while-youre-in-debt&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FShould%2520You%2520Go%2520on%2520Vacation%2520While%2520You%2527re%2520in%2520Debt_.jpg&amp;description=Should%20You%20Go%20on%20Vacation%20While%20You're%20in%20Debt%3F"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/Should%20You%20Go%20on%20Vacation%20While%20You%27re%20in%20Debt_.jpg" alt="Should You Go on Vacation While You're in Debt?" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="https://www.wisebread.com/should-you-go-on-vacation-while-youre-in-debt">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-money-lessons-i-learned-from-three-weeks-in-europe">8 Money Lessons I Learned From Three Weeks in Europe</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-fun-ways-the-sharing-economy-helps-you-save-on-vacation">5 Fun Ways the Sharing Economy Helps You Save on Vacation</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-reasons-you-really-need-to-pay-yourself-first-seriously">7 Reasons You Really Need to Pay Yourself First (Seriously)</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/10-little-known-secrets-to-saving-money-on-your-next-cruise">10 Little-Known Secrets to Saving Money on Your Next Cruise</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-ways-travel-in-retirement-keeps-you-young">6 Ways Travel in Retirement Keeps You Young</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Travel camping debt repayment experiences family priorities relaxing saving money vacation Wed, 16 May 2018 08:00:35 +0000 Tim Lemke 2140344 at https://www.wisebread.com 9 Ways Work-At-Home Seniors Can Master Work-Life Balance https://www.wisebread.com/9-ways-work-at-home-seniors-can-master-work-life-balance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-ways-work-at-home-seniors-can-master-work-life-balance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/mature_woman_working_on_computer_0.jpg" alt="Mature woman working on computer" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You're retired, but maybe you still want to keep a hand in your old business. Or maybe you love consulting, or you want some extra cash, or you don't like having too much idle time on your hands. No matter the reason, working from home can be a great way for retirees to earn an income without being subject to the daily commute and grind of a traditional 9-to-5.</p> <p>Remote work can be highly rewarding and even fun. Here are some ways to keep your work-life balance while working from home in retirement.</p> <h2>1. Look for a flexible schedule</h2> <p>One of the great benefits of retiring is being able to do what you want, when you want. Don't lose that completely by ending up with a rigid work schedule. Sure, you'll need to be there for your new employers or clients some of the time, but make sure you have the flexibility to take time off for the things that matter most to you.</p> <h2>2. Start small</h2> <p>It may be tempting to jump right into a new job. However, working from home is different from going to work at a company. If you've never done it before, it can be overwhelming at first to be self-directed and spend so much time alone.</p> <p>If you think you want to work from home, start by taking on a project or two, or working a few hours a week. If you like it and can still do all of the other things that you want to do with your retirement, you can look for a more permanent gig.</p> <h2>3. Make time for family</h2> <p>Many retirees make the jump into retirement at least in part so they can spend more time with their families. If this is you, ensure that your new job doesn't interrupt this time. Even if you work from home, it's important to put child care obligations or family days on the calendar early, and make sure your new employer knows you won't be available at those times. You can keep your family first even if you're going back to work. (See also: <a href="http://www.wisebread.com/9-signs-your-work-life-balance-is-off?ref=seealso" target="_blank">9 Signs Your Work-Life Balance Is Off</a>)</p> <h2>4. Unplug yourself</h2> <p>Whether you're old or young, it's easy to get sucked into the internet. You may find yourself surfing Facebook for pictures of your grandchildren, looking up decorating ideas on Pinterest, or getting lost in a sea of YouTube videos.</p> <p>Time spent online is often little more than a distraction. Ultimately, it isn't very satisfying, and it often takes you away from the things you really want or need to be doing. Limit your time online, especially when you're away from work, so you can really engage with the people and the experiences around you. If you're glued to your desk all day, you probably won't be enjoying your retirement to its fullest.</p> <h2>5. Plan vacations ahead of time</h2> <p>Some retirees enter retirement with the intention to travel. You can still do this while working from home. Make sure you get your vacations on the calendar early so your employer knows when you won't be available. This helps ensure that you'll have the free time you need to fully embrace your travel, even if you have to get right back to work when you get home.</p> <h2>6. Exercise</h2> <p>Exercise makes us feel better. It gets the blood flowing and helps boost our mood. Both of these will go far toward helping you feel like your life is in balance. When you make time for exercise, you're making time for yourself. You're also prioritizing your health, as exercise can help you live longer and avoid or minimize many of the physical problems that plague people in retirement. (See also: <a href="http://www.wisebread.com/7-smart-ways-to-invest-in-your-health?ref=seealso" target="_blank">7 Smart Ways to Invest in Your Health</a>)</p> <h2>7. Meditate</h2> <p>Make time to meditate. Clear your head. If you don't like meditation, get a journal and spend a few minutes every day writing down your thoughts. Giving yourself this space helps you remember what's important to you, and that your stated priorities are actually prioritized in your real life. It also gives you the mental clarity to fully engage with work when you're working, and with other people and things when you're outside of work. (See also: <a href="http://www.wisebread.com/6-meditation-alternatives-for-people-with-busy-minds?ref=seealso" target="_blank">6 Meditation Alternatives for People With Busy Minds</a>)</p> <h2>8. Walk every hour</h2> <p>When you're on the clock, make sure you stay moving. Get up every hour and take a short walk, even if it's just down the hall and back. This not only fights the dangers of a sedentary lifestyle, but it also helps you stay focused.</p> <h2>9. Schedule time to give back</h2> <p>If one of your retirement goals was to give back to the community, rest assured that you can still do that while you're working from home. Make volunteering a priority by scheduling it in your calendar, getting the time off or clearing your client list for the day, and helping out however and wherever you like. Giving back will offer a sense of fulfillment, and it will also remind you of the things that are truly important. (See also: <a href="http://www.wisebread.com/9-unexpected-benefits-of-volunteering%20?ref=seealso" target="_blank">9 Unexpected Benefits of Volunteering</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F9-ways-work-at-home-seniors-can-master-work-life-balance&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F9%2520Ways%2520Work-At-Home%2520Seniors%2520Can%2520Master%2520Work-Life%2520Balance.jpg&amp;description=9%20Ways%20Work-At-Home%20Seniors%20Can%20Master%20Work-Life%20Balance"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/9%20Ways%20Work-At-Home%20Seniors%20Can%20Master%20Work-Life%20Balance.jpg" alt="9 Ways Work-At-Home Seniors Can Master Work-Life Balance" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="https://www.wisebread.com/9-ways-work-at-home-seniors-can-master-work-life-balance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-find-your-new-identity-after-retirement">How to Find Your New Identity After Retirement</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-live-a-retired-life-before-retirement">How to Live a Retired Life Before Retirement</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-ways-to-keep-anxiety-from-ruining-your-budget">5 Ways to Keep Anxiety From Ruining Your Budget</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-retirement-splurges-that-are-worth-every-penny">7 Retirement Splurges That Are Worth Every Penny</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-simple-rules-of-excellent-houseguest-etiquette">11 Simple Rules of Excellent Houseguest Etiquette</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building Lifestyle Retirement down time exercise family meditating telecommuting volunteering work-life balance working from home Fri, 04 May 2018 09:00:08 +0000 Sarah Winfrey 2131865 at https://www.wisebread.com 7 Retirement Splurges That Are Worth Every Penny https://www.wisebread.com/7-retirement-splurges-that-are-worth-every-penny <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-retirement-splurges-that-are-worth-every-penny" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/mature_woman_holding_dog_at_home.jpg" alt="Mature woman holding dog at home" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Your golden years are finally here, and while you don't want to blow through your nest egg too quickly, there is still a little room for splurges here and there, especially if they double as self-care. Here are seven splurges in retirement you definitely won't regret.</p> <h2>1. Adopting a pet</h2> <p>Dogs offer many benefits to retirement-aged individuals. Not only do they give you companionship, but they also give you a reason to get up and exercise more. There are also several studies that show dog ownership can reduce the risk of heart attack and lower stress.</p> <p>Not into dogs? That's okay! Adopting a cat can provide just as many benefits and can be less work to take care of. (See also: <a href="http://www.wisebread.com/the-8-best-pets-for-frugal-animal-lovers?ref=seealso" target="_blank">The 8 Best Pets for Frugal Animal Lovers</a>.)</p> <h2>2. Achieving your goals</h2> <p>Whether you sit down and write an official bucket list or have one or two goals you wish to achieve, now is the perfect time to check those boxes. Maybe you want to eat a $100-steak, or spend a week in Europe. Whatever it is, you can make it happen. (See also: <a href="http://www.wisebread.com/6-european-destinations-finally-cheap-enough-to-visit?ref=seealso" target="_blank">6 European Destinations Finally Cheap Enough to Visit</a>)</p> <p>Financially, you might not be able to afford accomplishing&nbsp;<em>everything </em>on your list, and you definitely don't want to go into debt in retirement. However, by using savvy saving techniques, you can find discounts on any restaurant, travel destination, or adventure.</p> <h2>3. Spending time with family</h2> <p>If you don't feel like you see your family members enough, invest in seeing them more regularly. Spend a week with them and offer to watch the grandkids. Or plan times for your family to come visit you. Traveling to visit loved ones can add up quickly, so it's important to find free or cheap activities when you're together, and remember that quality time doesn't have to cost a thing. (See also: <a href="http://www.wisebread.com/47-cheap-fun-things-to-do-this-weekend?ref=seealso" target="_blank">47 Cheap, Fun Things to Do This Weekend</a>)</p> <h2>4. Trying new hobbies</h2> <p>Retirement is a dream come true at first since you finally get to relax. However, it's easy to grow bored of the same routine every day, and you might find yourself missing the fast-paced work day.</p> <p>One way to avoid boredom is to keep yourself busy with new hobbies. What have you always wanted to learn? Find classes or lessons in skills that you want to improve, whether it's a Spanish class, cooking class, or piano class. If you enjoy gardening or sewing, find ways to make it more sociable through local sewing groups. If you consider yourself skilled at one hobby, perhaps photography or auto mechanics, volunteer your time teaching others. When we engage in the activities that we love and then share them with others who enjoy them, we feel more satisfied. (See also: <a href="http://www.wisebread.com/10-fun-hobbies-you-can-take-up-for-free?ref=seealso" target="_blank">10 Fun Hobbies You Can Take Up for Free</a>)</p> <h2>5. Healthy foods</h2> <p>Now is not the time to settle for eating processed foods. Investing in healthy, organic foods will always be worth the cost. And if you shop smart &mdash; seek out seasonal produce and use grocery coupon apps while shopping &mdash; it doesn't even have to cost you more. You want to postpone the aches and pains and health issues that come naturally with aging as long as possible, and eating healthier is one way to do so. (See also: <a href="http://www.wisebread.com/25-low-cost-foods-packed-with-nutrition?ref=seealso" target="_blank">25 Low-Cost Foods Packed With Nutrition</a>)</p> <h2>6. Personal fitness</h2> <p>Don't wait for back pain to flare up before treating yourself to massages, chiropractic care, acupressure, and reflexology. Sign up for yoga classes or join your local walking group to stay active and fit. You've worked your body hard your whole adult life, and now it's time to give it some TLC. You deserve it now.</p> <h2>7. Home upgrades</h2> <p>Now that you aren't running off to work every day, expect to spend a lot more time at home. What would make your home easier to live in now and in the future? Consider splurging on a remodel to make your house more appealing to you, as well as to benefit you in the future. Even small home upgrades can add a lot to your current comfort and your listing later, should you decide to sell your house. (See also: <a href="http://www.wisebread.com/9-easy-home-improvements-that-add-thousands-to-your-listing?ref=seealso" target="_blank">9 Easy Home Improvements That Add Thousands to Your Listing</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F7-retirement-splurges-that-are-worth-every-penny&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F7%2520Retirement%2520Splurges%2520That%2520Are%2520Worth%2520Every%2520Penny.jpg&amp;description=7%20Retirement%20Splurges%20That%20Are%20Worth%20Every%20Penny"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/7%20Retirement%20Splurges%20That%20Are%20Worth%20Every%20Penny_0.jpg" alt="7 Retirement Splurges That Are Worth Every Penny" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="https://www.wisebread.com/7-retirement-splurges-that-are-worth-every-penny">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-find-your-new-identity-after-retirement">How to Find Your New Identity After Retirement</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-get-the-most-out-of-your-overseas-retirement">How to Get the Most Out of Your Overseas Retirement</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-questions-couples-must-ask-before-retirement">5 Questions Couples Must Ask Before Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-ways-to-get-the-most-value-from-your-all-inclusive-vacation">11 Ways to Get the Most Value From Your All-Inclusive Vacation</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-money-moves-to-make-before-taking-a-mini-retirement">5 Money Moves to Make Before Taking a Mini Retirement</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle Retirement family healthy eating hobbies pets retirement tips saving money splurges travel tips Thu, 03 May 2018 08:00:18 +0000 Ashley Eneriz 2136122 at https://www.wisebread.com 7 Types of People Who Will Help Grow Your Career https://www.wisebread.com/7-types-of-people-who-will-help-grow-your-career <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-types-of-people-who-will-help-grow-your-career" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/enjoying_coffee_and_good_company.jpg" alt="Enjoying coffee and good company" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The people you meet before, and during, your career can shape what kind of professional future you will have. If you meet the right people, it could lead to success after success, and a life filled with opportunity and growth.</p> <p>But who are these motivational figures? Where do you find them? And what should you be looking for? Let's uncover the people who will be instrumental in helping you forge a great career path.</p> <h2>1. A great boss</h2> <p>There are good bosses, and bad bosses. The latter won't really teach you much, other than what <em>not </em>to do to be successful. Good bosses, they're fine. They motivate you, know how to build a team, and won't stab you in the back. But a great boss is another story. Most of us will be lucky enough to have at least one great boss in our lifetime, and that person's influence can change the course of your career.</p> <p>A great boss will take you under his or her wing and want you to succeed. They will share every tip and trick they have learned over the years, and become your biggest cheerleader. They may even train you to be their own replacement. Great bosses, like great teachers, leave their mark on you. Cherish your time with this person, and learn everything you can while they are still around.</p> <h2>2. Faithful friends</h2> <p>Like great bosses, genuine friends are few and far between. We have our go-to set of mates; the ones we like to go out with to a bar or baseball game. But the friend that you can trust with your secrets, worries, and plans for the future &mdash; that's a diamond in the rough.</p> <p>A friend like this will have no problem telling you that your boss is taking advantage of you, or that you're in a dead-end job that is making you miserable. On the other hand, they could give you that push you need to ask for the raise or promotion. And after a really crappy day at work, they'll help you put things in perspective and give you a much-needed emotional crutch.</p> <h2>3. Professional career counselors</h2> <p>Now, more than ever, a career counselor can be invaluable. Industries are changing, dying, and being born at a lightning-fast pace. Careers that just 10 years ago looked promising could soon be going the way of the dinosaurs, and other industries you may never even have considered are popping up left, right, and center.</p> <p>A professional career counselor cannot only help you identify these promising careers, but also give you the advice you need to climb the corporate ladder and earn a very comfortable living. There are obviously good and bad counselors out there, so do your research and check recommendations on LinkedIn. (See also: <a href="http://www.wisebread.com/8-great-jobs-for-the-next-10-years?ref=seealso" target="_blank">8 Great Jobs for the Next 10 Years</a>)</p> <h2>4. An alumnus</h2> <p>If you went to a college, university, trade school, or any other kind of learning establishment, tap into that rich source of contacts. Many of the people you met there will have gone on to get great jobs, and will have a network of people they rely upon. Not only that, but your alumni association is also an excellent resource. The services they offer go far beyond social events and newsletters. Reach out to them and you will get advice on career choices, as well as access to business prospects and friends of the alumni who are only too happy to help.</p> <h2>5. Your family</h2> <p>The support you get from your family can be invaluable. Your family sometimes knows you better than you know yourself, and they can see through some poor career choices that you may be way too close to. Never be afraid to reach out to your family for advice; even if that means mending a few bridges from some old disputes.</p> <h2>6. Volunteers</h2> <p>This can be split into two categories. First, there are the people who run volunteer organizations. From helping feed the homeless and caring for abandoned pets, to building affordable homes and caring for local parks, your state will have many ways to volunteer. Not only will you be doing good, but the people who run these organizations will have access to a network of people that may help you in your career.</p> <p>There are also the volunteers themselves. You'd be amazed at the variety of professionals that donate their time. You could bump into the CEO of a local company, or the owner of a business you've always wanted to work for. At the very least, you may make a few new friends. (See also: <a href="http://www.wisebread.com/9-unexpected-benefits-of-volunteering?ref=seealso" target="_blank">9 Unexpected Benefits of Volunteering</a>)</p> <h2>7. A mentor</h2> <p>Anyone can become a mentor. It could be a boss, a work colleague, a friend, a complete stranger you meet in a bar, or even your neighbor. It's not about who they are, but what they have to offer.</p> <p>Most of the time, this will be someone that has already been down the road you have chosen to travel, and can give you invaluable advice. It could also be someone from a completely different industry or background, but with an outlook and energy that gets you motivated to do better, and go further. Mentors are everywhere; you just have to be ready to answer when opportunity knocks.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F7-types-of-people-who-will-help-grow-your-career&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F7%2520Types%2520of%2520People%2520Who%2520Will%2520Help%2520Grow%2520Your%2520Career.jpg&amp;description=7%20Types%20of%20People%20Who%20Will%20Help%20Grow%20Your%20Career"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/7%20Types%20of%20People%20Who%20Will%20Help%20Grow%20Your%20Career.jpg" alt="7 Types of People Who Will Help Grow Your Career" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="https://www.wisebread.com/7-types-of-people-who-will-help-grow-your-career">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-simple-rules-of-excellent-houseguest-etiquette">11 Simple Rules of Excellent Houseguest Etiquette</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-quotes-to-inspire-your-dream-career">8 Quotes to Inspire Your Dream Career</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/why-even-millionaires-arent-happy-about-their-finances">Why Even Millionaires Aren&#039;t Happy About Their Finances</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-tips-for-better-workplace-body-language">7 Tips for Better Workplace Body Language</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-ways-millennials-can-become-bosses-sooner">5 Ways Millennials Can Become Bosses Sooner</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building bosses career growth coworkers family friends inspiration mentors people you meet support Wed, 21 Mar 2018 10:00:06 +0000 Paul Michael 2120289 at https://www.wisebread.com 7 Questions to Ask Before Moving Out of State https://www.wisebread.com/7-questions-to-ask-before-moving-out-of-state <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-questions-to-ask-before-moving-out-of-state" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/all_packed_up_and_ready_to_go.jpg" alt="All packed up and ready to go" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Growing up in Pennsylvania, I learned to dread the winter months. The cold and snow would leave me feeling depressed and miserable. I dreamed of moving somewhere warmer, but I was afraid of the high cost.</p> <p>After months of waffling back and forth and saving every dime I could, I finally took the plunge and moved to Florida. And while it was expensive and scary, I've never regretted it.</p> <p>Whether you're contemplating a job offer in another state or simply want a change of scenery, relocating is a big decision. Before deciding one way or another to move hundreds or even thousands of miles away like I did, ask yourself these questions.</p> <h2>1. What is the cost of living?</h2> <p>If you're reviewing a job offer or looking for a new job in another state, make sure you keep in mind the cost of living. Even if you earn a higher salary in your new state, you could still end up in worse financial shape than before if living in the area is too expensive.</p> <p>Depending on your intended location, you could need thousands more dollars to maintain the lifestyle to which you're accustomed. The cost of everything from housing to groceries can significantly add to your expenses.</p> <p>Use a <a href="http://money.cnn.com/calculator/pf/cost-of-living/" target="_blank">cost of living calculator</a> to figure out how much you'd need to earn to afford living in your new city. Say you lived in York County, Pennsylvania and earned $50,000 per year. If you wanted to move to San Diego, where housing costs 160 percent more, you'd need to earn at least $73,673 to keep your same standard of living. (See also: <a href="http://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you?ref=seealso" target="_blank">Here's How Much Life in the Big City Will Cost You</a>)</p> <h2>2. Who will care for family members?</h2> <p>If you have elderly or disabled family members, coming up with a plan for their care should be part of your relocation decision. If you cannot be there with them, you'll have to find a way to provide for them otherwise. Depending solely on outside care or nursing home facilities can be cost-prohibitive for your relative; a recent study by Lincoln Financial Group found that a private room in a nursing home costs an average $102,911 per year.</p> <p>If that cost is beyond your family's budget, and they were depending on you to some extent for help with daily life, moving to a new state may not be practical or financially wise.</p> <h2>3. How will you adjust to the climate?</h2> <p>Although some moves can be beneficial in terms of climate (hello, beaches!), some people struggle adjusting to new weather conditions. If you're from a state with four seasons, moving to a warmer place can be hard. You might find that you miss the snow and changing seasons. If you move from a sunny place to somewhere with long, gloomy winters or regular rain, it can be a strain on your mental health.</p> <p>If at all possible, spend some time in town during the state's poorest weather season to see how you cope. You might find that you can handle the cold better than you expected, or you might discover you hate it and want to stay put.</p> <h2>4. How much will is cost to move?</h2> <p>You know moving is expensive, but until you see the real numbers, it's hard to get an idea of how much it really will hurt your budget. According to the American Moving and Storage Association, it costs an average $5,360 to move to a new state.</p> <p>If you have to break a lease or struggle to sell your home, you might need to spend thousands more to make the move possible. (See also: <a href="http://www.wisebread.com/avoid-these-6-common-mistakes-when-moving-across-the-country?ref=seealso" target="_blank">Avoid These 6 Common Mistakes When Moving Across the Country</a>)</p> <h2>5. Is there a state income tax?</h2> <p>If you're in a state like Florida or Texas, which do not have a state income tax, moving to a place that does can come as a big shock. The raise you carefully negotiated at a new job might be negated by the increased taxes taken out of your paycheck.</p> <h2>6. What college savings programs are available?</h2> <p>If you have children, saving for their education is likely a major priority for you. And with current four-year tuition costs reaching an average $9,650 for in-state schools and $33,480 for private schools, that's a smart decision. However, where you live can impact your college savings.</p> <p>All states offer at least some form of a 529 plan, such as a prepaid tuition or a college savings program. However, some states only offer one type, which can limit your child's educational options.</p> <p>In addition, some states offer tax benefits for contributing to a 529 plan, while others do not. Switching to a new state could result in losing those benefits, reducing how much you can save each year. (See also: <a href="http://www.wisebread.com/the-9-best-state-529-college-savings-plans?ref=seealso" target="_blank">The 9 Best State 529 College Savings Plans</a>)</p> <h2>7. Will you feel isolated?</h2> <p>Beyond financial and logistical issues, moving can be emotionally exhausting and difficult to navigate. If you grew up in one area and became attached to the neighborhood, moving to a place you don't know, without friends or family, can be lonely and isolating. You might find that even the best job is not worth the move without your loved ones.</p> <p>However, other people thrive on the unknown and the sense of adventure that comes from entering a new place and meeting new people. Only you can know what works for your situation. By asking yourself these questions and preparing for a move ahead of time, you can ensure you make the best decision for you and your family.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F7-questions-to-ask-before-moving-out-of-state&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F7%2520Questions%2520to%2520Ask%2520Before%2520Moving%2520Out%2520of%2520State.jpg&amp;description=7%20Questions%20to%20Ask%20Before%20Moving%20Out%20of%20State"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/7%20Questions%20to%20Ask%20Before%20Moving%20Out%20of%20State.jpg" alt="7 Questions to Ask Before Moving Out of State" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/kat-tretina">Kat Tretina</a> of <a href="https://www.wisebread.com/7-questions-to-ask-before-moving-out-of-state">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you">Here&#039;s How Much Life in the Big City Will Cost You</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/the-7-best-affordable-cities-to-start-a-family">The 7 Best Affordable Cities to Start a Family</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-reasons-you-should-always-hire-a-moving-company">6 Reasons You Should Always Hire a Moving Company</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/would-you-move-to-one-of-these-states-to-avoid-taxes">Would You Move to One of These States to Avoid Taxes?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-save-100s-on-your-next-move">How to Save $100s on Your Next Move</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing 529 plans changes cost of living education elderly relatives family income tax job offers moving out of state relocating Fri, 23 Feb 2018 09:30:09 +0000 Kat Tretina 2107221 at https://www.wisebread.com Why Even Millionaires Aren't Happy About Their Finances https://www.wisebread.com/why-even-millionaires-arent-happy-about-their-finances <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/why-even-millionaires-arent-happy-about-their-finances" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/tear_falling_from_face_on_us_dollar_bill.jpg" alt="Tear falling from face on US dollar bill" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>How much money would you need in your bank account to make you happy? Would $250,000 do the trick? Maybe a cool $1 million? How about $5 million?</p> <p>Well, a study from the Harvard Business School asked over 4,000 millionaires that question. The magic figure, it seems, is around $8 million; less than that, and life just wasn't giving them everything they needed. However, the vast majority of respondents said that to be truly happy, they'd need far more than that.</p> <p>How can any of us be happy if that massive amount of cash isn't making those people content? Or to put it another way, what can we learn from these loaded malcontents?</p> <h2>Things are not as important as experiences</h2> <p>Whether you die a pauper or a billionaire, it is highly unlikely that you will look back at your life on your deathbed and wish you had bought more stuff.</p> <p>A 2015 UBS Investor Watch polled 2,215 millionaires to learn what their biggest regrets were. It turns out, rich people have the same regrets as the rest of us; namely, not spending more time with family, focusing too much on career, not traveling enough, and not taking more chances.</p> <p>Rich or poor, we can all agree that &quot;stuff&quot; brings only fleeting happiness. Indeed, when most people grab something from a burning house, it's usually a photo album, letters, or other personal keepsakes. Everything else can be replaced, and in many cases will be obsolete in a few years anyway. (See also: <a href="http://www.wisebread.com/5-reasons-being-a-millionaire-is-overrated?ref=seealso" target="_blank">5 Reasons Being a Millionaire Is Overrated</a>)</p> <h2>Don't try to keep up with your richer neighbors</h2> <p>Trying to keep up with the Joneses is never going to work out for you, and that is true regardless of where you live and what you earn. And even once you strike it &quot;rich,&quot; the problem doesn't go away.</p> <p>Millennial and Gen X millionaires are facing this age-old struggle more than other generations. In all likelihood, social media and technology are to blame. According to the UBS Investor Watch survey, 48 percent of millennial millionaires feel they must keep up with the Joneses. Coming in right behind them are Gen X millionaires, at 44 percent. By contrast, only 22 percent of baby boomer millionaires feel they have to &quot;keep up.&quot; It's said that we measure our misery by our neighbors, and now those neighbors are on Facebook, Instagram, and Twitter, showing everyone just how fabulous their lives are. You really don't know the back story, though. They could be drowning in debt, in a marriage that's falling apart, or dealing with severe emotional problems.</p> <p>Focus on yourself and your family and friends. Are you good? Great! Don't pay any mind to the trappings of other people's lives. (See also: <a href="http://www.wisebread.com/4-money-lessons-you-can-learn-from-the-joneses?ref=seealso" target="_blank">4 Money Lessons You Can Learn From the Joneses</a>)</p> <h2>Your time on this planet is finite</h2> <p>From the moment you are born, the clock is ticking. No one knows just how long that clock will tick, but one thing is for certain &mdash; one day, it will stop. So many millionaires and billionaires realize this too late. They spend decades amassing great fortunes, spending weekends and evenings doing deals and taking business trips. Before they know it, they're 65 and have 20 years (not the best 20, either) to make up for lost time.</p> <p>Don't find yourself chasing the almighty dollar for so long that you have no time left to enjoy it. Instead, make plans to see and do the things you want to do while you are young and healthy enough to really enjoy them.</p> <p>Have you always dreamed of visiting Australia or Iceland? Find a way to make it happen. Want to backpack around Europe? How can you do it sooner rather than later?</p> <p>When it comes to money and treasures, you can't &quot;take it with you.&quot; But you can live life to the fullest, and look back on years of wonderful memories. Your time will always be way more valuable than money.</p> <h2>Good health is critical to happiness</h2> <p>Money can buy you almost anything. When it comes to health care, it can get you the best doctors, the most advanced treatments, and access to medicines and cures that many people just cannot afford. But when you're sick, you're sick &mdash; and that can have a huge impact on your happiness.</p> <p>Steve Jobs or David Bowie would have gladly traded their great wealth for good health and a long life, but they both died from cancer. Queen Elizabeth I said, &quot;All my possessions for a moment of time&quot; on her deathbed. So, you may not be rich, but you should do everything you can to stay healthy. Exercise, a balanced diet, and plenty of laughter are all invaluable.</p> <h2>Friends and family cannot be bought</h2> <p>Well, some &quot;friends&quot; can, but are they really the kind of friends you'd want anyway? Rich or poor, you need good people around you. True friends and trusted family members are essential to a happy life. And almost every rich person out there has said that they wished they had spent more time with their parents, children, and siblings instead of working day and night to make the millions.</p> <p>Learn from these people. Family and friends are more important than money. Make time for them, and when you've done that &hellip; make even more time. They're worth far more than possessions or fat bank accounts.</p> <h2>Do more of what makes you happy</h2> <p>It's easier said than done. After all, how many of us are stuck in a job we really do not like, but have no other choice because bills need to be paid?</p> <p>Many millionaires spend decades doing things they don't like only because it forged their path to wealth. However, they also regret spending so much time being miserable for the sake of money.</p> <p>So, even if you are in a job that is draining the life out of you, find ways to balance it with the stuff you really love to do. Maybe you can turn your favorite hobby into a side-hustle &mdash; one that could eventually become profitable and become your main source of income. (See also: <a href="http://www.wisebread.com/6-signs-its-time-to-make-your-side-gig-your-career?ref=seealso" target="_blank">6 Signs It's Time to Make Your Side Gig Your Career</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fwhy-even-millionaires-arent-happy-about-their-finances&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FWhy%2520Even%2520Millionaires%2520Aren%2527t%2520Happy%2520About%2520Their%2520Finances.jpg&amp;description=Why%20Even%20Millionaires%20Aren't%20Happy%20About%20Their%20Finances"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/Why%20Even%20Millionaires%20Aren%27t%20Happy%20About%20Their%20Finances.jpg" alt="Why Even Millionaires Aren't Happy About Their Finances" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="https://www.wisebread.com/why-even-millionaires-arent-happy-about-their-finances">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/4-money-lessons-you-can-learn-from-the-joneses">4 Money Lessons You Can Learn From the Joneses</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-simple-rules-of-excellent-houseguest-etiquette">11 Simple Rules of Excellent Houseguest Etiquette</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-money-habits-that-make-you-look-financially-immature">11 Money Habits That Make You Look Financially Immature</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/dissecting-gift-guilt-when-does-receiving-a-gift-make-you-feel-bad">Dissecting &quot;Gift Guilt&quot; - When Does Receiving a Gift Make You Feel Bad?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-reasons-youre-still-struggling-to-pay-bills">6 Reasons You&#039;re Still Struggling to Pay Bills</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Lifestyle family friends happiness keeping up with the joneses materialistic millionaires possessions regrets Mon, 29 Jan 2018 09:00:06 +0000 Paul Michael 2091491 at https://www.wisebread.com 4 False Assumptions That Could Threaten Your Retirement Years https://www.wisebread.com/4-false-assumptions-that-could-threaten-your-retirement-years <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-false-assumptions-that-could-threaten-your-retirement-years" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/i_need_you_signature_here.jpg" alt="I need your signature here" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>I'm sure it isn't news to you that many people are not saving enough for retirement. For some, there just doesn't seem to be enough money to pay the bills <em>and </em>save. However, for others, faulty assumptions may be to blame.</p> <p>Consider the statements below. Have you ever thought or said such things? If so, they might be keeping you from saving as much as you should for your later years.</p> <h2>1. &quot;I'll be able to earn income as long as I'd like to.&quot;</h2> <p>A growing number of today's workers are planning to keep working past the typical retirement age. However, their plans don't square with the experiences of today's actual retirees.</p> <p>According to the latest Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI), 38 percent of today's workers expect to retire at age 70 or later, or never retire. How does that compare with today's retirees? Just 4 percent actually left the workforce that late.</p> <p>Among retirees who left the workforce earlier than planned, EBRI says many did so &quot;because of a hardship, such as a health problem or disability.&quot; Others retired early because of &quot;changes at their company.&quot;</p> <p>This same expectation/reality gap can be seen in the number of workers who plan to work for pay <em>after</em> they retire. Some 79 percent say that's their intention whereas just 29 percent of current retirees have <em>actually</em> worked for pay.</p> <p>What should you do? Instead of counting on paid work in your later years, plan financially to retire at the typical retirement age. At the same time, keep your vocational skills current so you <em>could</em> keep working if you'd like to and are able to.</p> <h2>2. &quot;Inflation will always be low.&quot;</h2> <p>If you want to do a checkup on your retirement savings, you may be tempted to take your total nest egg and divide it by the number of years you think you might live. This will give you an idea of how much money you'll have each year to cover your annual costs. When you have enough to get by, you might assume you're &quot;set.&quot;</p> <p>There's just one problem with that approach, which people often forget about: inflation. While the cost of living has only been increasing at a relatively moderate rate in recent years, even a 2 percent rise means $500 worth of groceries today will cost about $600 in 10 years. And who knows how long inflation will stay low?</p> <p>That's why keeping your entire nest egg in an account that today pays a fraction of 1 percent is ill advised. Given our longer life spans, it's generally best to invest a portion of your nest egg in stocks. (See also: <a href="http://www.wisebread.com/10-signs-you-arent-saving-enough-for-retirement?ref=seealso" target="_blank">10 Signs You Aren't Saving Enough for Retirement</a>)</p> <h2>3. &quot;I'll always be healthy.&quot;</h2> <p>When you're in good health, it's hard to imagine ever becoming seriously ill. Heart attacks, strokes, cancer, and dementia only happen to other people, right?</p> <p>That assumption may explain why so many people are ignoring resources that could be used to help pay health care expenses later in life. EBRI found that only 13 percent of account holders contributed the full allowable annual amount to their health savings account in 2016. Meanwhile, according to The LTC Financing Strategy Group, only 16 percent of eligible people over age 65 have a long-term care insurance (LTCI) policy. Cost certainly is a factor in these decisions, but an assumption of continued good health may play a role as well.</p> <p>What to do? Face the facts. You probably won't always be as healthy as you are today. According to the National Association of Insurance Commissioners, over half the people turning 65 are expected to need long-term care at some point in their remaining years.</p> <p>If you are using a health savings account in conjunction with a high-deductible health insurance policy, consider boosting your contributions with the intent to carry a large balance into retirement. (See also: <a href="http://www.wisebread.com/how-an-hsa-could-help-your-retirement?ref=seealso" target="_blank">How an HSA Could Help Your Retirement</a>)</p> <p>Also, think about your family history. Did your parents or grandparents have any significant health issues at a relatively young age? If you experience a similar problem, how would you handle the cost? Especially if there's a history of dementia in your family, consider picking up some long-term care insurance. (See also: <a href="http://www.wisebread.com/is-long-term-care-insurance-worth-it?Ref=seealso" target="_blank">Is Long Term Care Insurance Worth It?</a>)</p> <h2>4. &quot;If I ever do become seriously ill, my kids will be there for me.&quot;</h2> <p>What if you <em>do </em>experience a debilitating illness &mdash; one that leaves you needing help with some of the activities of daily living? If you're like most people, you'll probably prefer to avoid living in a nursing home, but what other options would you have?</p> <p>Think about your children. How old will they be when you are 80 or 90? Will they be available, or will they be busy building their careers, raising their own kids, or both? Are they likely to live near you?</p> <p>Counting on your adult kids to help care for you may be counting on too much. Here again, a long-term care policy may be in order. Most of today's LTCI policies will help cover the cost of a nursing home <em>and </em>in-home care.</p> <p>Among the many threats to a financially secure retirement, the difficulty many of us have envisioning the circumstances we'll face in the future is one of the most significant. It can lead to faulty assumptions that, in turn, can leave us unprepared for our later years. The good news is, if we realize early enough that we hold these false assumptions, we can change them and correct course so that we are financially secure in our later years.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-false-assumptions-that-could-threaten-your-retirement-years&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520False%2520Assumptions%2520That%2520Could%2520Threaten%2520Your%2520Retirement%2520Years.jpg&amp;description=4%20False%20Assumptions%20That%20Could%20Threaten%20Your%20Retirement%20Years"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/4%20False%20Assumptions%20That%20Could%20Threaten%20Your%20Retirement%20Years.jpg" alt="4 False Assumptions That Could Threaten Your Retirement Years" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="https://www.wisebread.com/4-false-assumptions-that-could-threaten-your-retirement-years">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-reasons-to-invest-in-stocks-past-age-50">7 Reasons to Invest in Stocks Past Age 50</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-signs-you-need-to-come-out-of-retirement">5 Signs You Need to Come Out of Retirement</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/4-ways-to-protect-your-retirement-from-inflation">4 Ways to Protect Your Retirement From Inflation</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-things-that-could-wreck-an-early-retirement">5 Things That Could Wreck an Early Retirement</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-questions-to-ask-before-you-start-claiming-your-social-security-benefits">5 Questions to Ask Before You Start Claiming Your Social Security Benefits</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement adult children caregivers early retirement family health problems health savings accounts income inflation long term care insurance Wed, 10 Jan 2018 09:00:08 +0000 Matt Bell 2080478 at https://www.wisebread.com 5 Ways to Make Long-Term Care More Affordable https://www.wisebread.com/5-ways-to-make-long-term-care-more-affordable <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-ways-to-make-long-term-care-more-affordable" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/nothing_inspires_happiness_like_fresh_air.jpg" alt="Nothing inspires happiness like fresh air" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>A long life can be both a blessing and a financial burden. As our health inevitably declines over time, medical expenses can skyrocket. What follows are several ideas for keeping later-life health care costs under control.</p> <h2>1. Save for health care like you save for retirement</h2> <p>It's common for people to save for their retirement. Far less common is the habit of saving for future health care costs. And yet, a growing number of people have access to a triple tax-advantaged way to do just that &mdash; a health savings account. If you have a high-deductible health insurance policy, that's you. (See also: <a href="http://www.wisebread.com/how-an-hsa-could-help-your-retirement?Ref=seealso" target="_blank">How an HSA Could Help Your Retirement</a>)</p> <p>Money you contribute to such an account is tax-deductible, and assuming it's ultimately used for health care expenses, earnings and withdrawals are tax-free. If you don't spend all the money you contribute each year, the balance can be carried over from year to year. With some account providers enabling you to invest the money, you could build up quite a balance.</p> <p>That money could be used to help pay health care costs in your later years, including some expenses for long-term care, whether provided in your home or a nursing home. The money also could be used to pay the premiums for Medicare Parts A, B, C, and D, and at least a portion of long-term care insurance (LTCI) premiums.</p> <h2>2. Don't over-save</h2> <p>Headlines about later life health care costs can strike fear into your heart and wallet. According to a recent Fidelity Benefits Consulting study, a 65-year-old couple retiring in 2017 will need $275,000 to cover their health care costs throughout retirement &mdash; up from $260,000 for couples retiring in 2016. And that's just for <em>normal </em>older age health care; it doesn't include the cost of long-term care.</p> <p>But let's take a look past the headlines. Assuming a 20-year retirement, $275,000 works out to $1,146 per month. While people's health care costs vary widely, $1,146 is less than some families pay right now for high-deductible health insurance premiums plus monthly contributions to a health savings account.</p> <p>Instead of relying on headlines about <em>average </em>health care costs, estimate <em>your </em>later-life health care costs to make sure you aren't obsessively over-saving out of fear. You can go a long way toward that by getting some Medicare estimates. Pairing an Original Medicare plan with a Medigap policy or choosing a Medicare Advantage plan can take away a lot of uncertainty regarding out-of-pocket costs for deductibles and copays.</p> <h2>3. Purchase some long-term care coverage</h2> <p>One of the main reasons people end up in nursing homes is dementia, and one of the primary risk factors for getting dementia is a family history. If your parents or grandparents had it, it may be wise for you to pick up at least <em>some </em>long-term care insurance coverage.</p> <p>Just keep in mind that buying a long-term care insurance policy is not an all or nothing proposition. You could opt for enough coverage to take the sting out of long-term care costs, while still keeping your premiums manageable.</p> <p>Choosing a longer <em>elimination period </em>(how many days you have to be in a nursing home before benefits begin) will lower the cost of the policy. Other ways to save include opting for a lower daily benefit, a lower maximum benefit period (compare the costs of one, three, and five years as opposed to lifetime coverage), and doing so without inflation protection. (See also: <a href="http://www.wisebread.com/is-long-term-care-insurance-worth-it?ref=seealso" target="_blank">Is Long Term Care Insurance Worth It?</a>)</p> <h2>4. Buy a deferred annuity</h2> <p>The risk of getting Alzheimer's disease goes up with age. According to the Alzheimer's Association, 3 percent of people between ages 65 and 74 have the disease, whereas 32 percent of those over age 85 have it.</p> <p>One way to manage the financial risk of an age-related disease such as Alzheimer's is to purchase an advanced-life deferred annuity. With this product, you pay a relatively small lump sum premium now in order to secure a guaranteed monthly benefit down the road. For example, a 65-year-old may be able to pay $10,000 now in order to receive $575 per month beginning at age 80. By comparison, if a 65-year-old wanted that much per month right now via an <em>immediate </em>annuity, he or she may have to pay $100,000.</p> <h2>5. Move closer to adult children</h2> <p>One more idea for keeping long-term care costs down is to live near or with your adult children during your retirement, assuming they are in a position (and are willing) to help you. Living close to a caring relative can lessen your dependence on &mdash; and the cost of &mdash; outside help for long-term care.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-ways-to-make-long-term-care-more-affordable&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Ways%2520to%2520Make%2520Long-Term%2520Care%2520More%2520Affordable.jpg&amp;description=5%20Ways%20to%20Make%20Long-Term%20Care%20More%20Affordable"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/5%20Ways%20to%20Make%20Long-Term%20Care%20More%20Affordable.jpg" alt="5 Ways to Make Long-Term Care More Affordable" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="https://www.wisebread.com/5-ways-to-make-long-term-care-more-affordable">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/the-best-age-to-buy-long-term-care-insurance">The Best Age to Buy Long-Term Care Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/a-simple-guide-to-planning-for-a-loved-ones-long-term-care">A Simple Guide to Planning For a Loved One&#039;s Long-Term Care</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-manage-a-family-members-finances-long-distance">How to Manage a Family Member&#039;s Finances Long Distance</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-financial-steps-to-take-when-your-aging-parents-move-in">6 Financial Steps to Take When Your Aging Parents Move In</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/why-saving-money-is-harder-today">Why Saving Money Is Harder Today</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance annuities assisted living costs elderly family health care long term care nursing homes retirement savings Wed, 13 Dec 2017 09:30:09 +0000 Matt Bell 2065226 at https://www.wisebread.com 8 Signs You're Making All the Right Moves for Retirement https://www.wisebread.com/8-signs-youre-making-all-the-right-moves-for-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-signs-youre-making-all-the-right-moves-for-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/piggybank_with_glasses.jpg" alt="Piggy bank with glasses" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The 2017 Retirement Confidence Survey from the Employee Benefit Research Institute made a disheartening discovery; only six in 10 U.S. workers feel confident that they'll be able to retire comfortably. That means 40 percent think they won't.</p> <p>That's grim news. But you don't have to fall into this group if you're making the right financial moves to prepare for your after-work years.</p> <p>It can be tricky to know for sure how confident you should feel about your nest egg, but some key signs can indicate that you're on your way to building a happy and healthy retirement.</p> <h2>1. You've worked out the kind of retirement you want</h2> <p>The best way to prepare for retirement? You have to plan for it. This means knowing how you want to spend your after-work years. After all, if you plan on traveling the globe after retiring, you'll need plenty of money. If you instead plan to spend more time visiting your grandchildren, reading, or playing golf, you might not need to save quite as much.</p> <p>The key is to determine what kind of retirement you want long before it arrives. That way, you can financially plan for it. And if you're in a relationship, remember that both you and your partner have to agree, and prepare for, the retirement lifestyle that suits you both. (See also: <a href="http://www.wisebread.com/how-to-find-your-new-identity-after-retirement?ref=seealso" target="_blank">How to Find Your New Identity After Retirement</a>)</p> <h2>2. You've set a retirement age</h2> <p>Do you know when you want to retire? You should. That decision can have a huge impact on your finances once you leave the working world.</p> <p>If you were born between 1943 and 1954, your full retirement age is 66. If you were born after 1959, your full retirement age is 67. You can start claiming Social Security benefits once you turn 62. But if you wait until you hit full retirement age &mdash; or beyond &mdash; the money you receive each month will be far higher. In fact, if you start claiming your Social Security benefits at 62, your monthly payment will be lowered by 30 percent compared to how much you'd get at full retirement age.</p> <p>And if you can hang on until age 70, you'll collect a monthly benefit that is 132 percent of the monthly amount you would have received if you started claiming Social Security at full retirement age.</p> <p>There's nothing wrong with claiming your benefits early, if you've planned for this. But make sure you know how much money you'll need before retiring early. (See also: <a href="http://www.wisebread.com/5-questions-to-ask-before-you-start-claiming-your-social-security-benefits?ref=seealso" target="_blank">5 Questions to Ask Before You Start Claiming Your Social Security Benefits</a>)</p> <h2>3. You've made a retirement budget</h2> <p>Before you hit retirement age, it's important to determine how much money you expect to spend and receive each month once that steady paycheck has disappeared. This means it's time to create a monthly retirement budget.</p> <p>For income, you can include any pensions, Social Security payments, disability payments, rental income, or annuity income you plan on receiving. You can also include the amount of money you expect to draw from your retirement savings. For expenses, include everything that you'll spend money on each month, including groceries, eating out, mortgage, auto payments, health care expenses, and utility bills.</p> <p>Once you know how much you'll be spending and how much you'll be earning in retirement, you can better prepare for it. (See also: <a href="http://www.wisebread.com/heres-how-you-should-budget-your-social-security-checks?ref=seealso" target="_blank">Here's How You Should Budget Your Social Security Checks</a>)</p> <h2>4. You've paid off your debts</h2> <p>The best way to increase the odds of a happy retirement is entering your post-work years without any debt. That means paying off your credit cards, paying off your mortgage, and making sure you don't owe any money on your car once you've retired.</p> <p>Paying off debt isn't easy. It's why so many of us are struggling under mountains of credit card debt. Before your retirement hits, though, start funneling money toward your debt. The more you pay off, the less financial stress you'll face in retirement. (See also: <a href="http://www.wisebread.com/fastest-way-to-pay-off-10000-in-credit-card-debt?ref=seealso" target="_blank">The Fastest Way to Pay Off $10,000 in Credit Card Debt</a>)</p> <h2>5. You've maximized your retirement savings contributions</h2> <p>You should be contributing to an IRA, 401(k) plan, or a combination of both. But as retirement gets closer, make sure you are contributing the maximum amount to these retirement savings vehicles. Doing so will leave you with the greatest financial cushion for retirement.</p> <p>It might seem like a financial sacrifice to devote, say, 15 percent of your regular paycheck to a 401(k) account. But by saving that much, as opposed to 5 percent or 10 percent, you can dramatically increase the amount of money you'll have when retirement arrives. (See also: <a href="http://www.wisebread.com/10-signs-you-arent-saving-enough-for-retirement?ref=seealso" target="_blank">10 Signs You Aren't Saving Enough for Retirement</a>)</p> <h2>6. You're playing catch-up</h2> <p>Once you hit your 50th birthday, you can contribute even more money each year to your 401(k) plan or IRAs. Take advantage of this benefit to provide a late-in-life boost to your retirement savings.</p> <p>For the 2017 tax year, you are allowed to contribute up to a maximum of $18,000 in a 401(k) plan. But if you're 50 or older, you can make what are known as catch-up contributions and contribute an extra $6,000 &mdash; meaning that you can put a total of $24,000 into your 401(k) this year. For the 2018 tax year, 401(k) contribution limits will be raised to $18,500, which means those age 50 or older can contribute up to a total of $24,500 per year. (See also: <a href="http://www.wisebread.com/6-ways-meeting-the-2018-401k-contribution-limits-will-brighten-your-future?ref=seealso" target="_blank">6 Ways Meeting the 2018 401(k) Contribution Limits Will Brighten Your Future</a>)</p> <p>Traditional and Roth IRAs also have catch-up policies for investors 50 or older. For the 2017 tax year, you can contribute up to $5,500 in either form of IRA. But if you are 50 older, you can contribute an additional $1,000, meaning that you can save up to $6,500 this year in a Roth or traditional IRA. This will be remaining the same in the 2018 tax year.</p> <h2>7. You've prioritized your spending &mdash; even when it comes to your kids</h2> <p>It's not easy telling your kids no, even when both they and you are adults. But when it comes to saving for retirement, you might have to do just this.</p> <p>You might want to help your children pay for their college tuition. And hopefully, you've already saved for this. But if you didn't, you shouldn't be putting off saving for retirement to help your adult children pay for college.</p> <p>Your children have other options when it comes to college: They can find a less expensive school, attend community college for two years, or apply for loans and grants. If you can't afford to save for both retirement and your children's college tuition, you absolutely must put saving for retirement first.</p> <p>If you don't? You might just become a financial burden for your adult children when you can't afford to maintain a healthy retirement lifestyle. (See also: <a href="http://www.wisebread.com/are-you-ruining-your-retirement-by-spoiling-your-kids?ref=seealso" target="_blank">Are You Ruining Your Retirement by Spoiling Your Kids?</a>)</p> <h2>8. You've tinkered with your savings formula</h2> <p>Early in your working days, it's a sound strategy to invest in a riskier mix of stocks, bonds, and other investment vehicles. The potential rewards are higher, and you have more years to recoup whatever losses you might suffer from a potentially more volatile portfolio.</p> <p>But once you get closer to retirement, it's time to rebalance your investments to eliminate much of the risk. When you're 10 or five years from retirement, you want a safer investment mix because time is running short. You won't have as many years to recover from the downs that sometimes come with a high-risk, high-reward savings portfolio.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-signs-youre-making-all-the-right-moves-for-retirement&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Signs%2520Youre%2520Making%2520All%2520the%2520Right%2520Moves%2520for%2520Retirement.jpg&amp;description=8%20Signs%20Youre%20Making%20All%20the%20Right%20Moves%20for%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/8%20Signs%20Youre%20Making%20All%20the%20Right%20Moves%20for%20Retirement.jpg" alt="8 Signs You're Making All the Right Moves for Retirement" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="https://www.wisebread.com/8-signs-youre-making-all-the-right-moves-for-retirement">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/where-to-invest-your-money-after-youve-maxed-out-your-retirement-account">Where to Invest Your Money After You&#039;ve Maxed Out Your Retirement Account</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-easiest-ways-to-catch-up-on-retirement-savings-later-in-life">7 Easiest Ways to Catch Up on Retirement Savings Later in Life</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/how-to-face-4-ugly-truths-about-retirement-planning">How to Face 4 Ugly Truths About Retirement Planning</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/half-of-americans-are-wrong-about-their-retirement-savings">Half of Americans Are Wrong About Their Retirement Savings</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-things-millennials-can-do-right-now-for-an-early-retirement">8 Things Millennials Can Do Right Now for an Early Retirement</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement 401(k) contributions debt family full retirement age IRA nest egg saving money social security benefits Tue, 05 Dec 2017 09:00:07 +0000 Dan Rafter 2066271 at https://www.wisebread.com How to Find Your New Identity After Retirement https://www.wisebread.com/how-to-find-your-new-identity-after-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-find-your-new-identity-after-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/young_black_boy_embracing_grandfather.jpg" alt="Young black boy embracing grandfather" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Most people work for at least 35 years before they decide to retire. This provides ample time for a person's job to become one of the most stable parts of their identity.</p> <p>A lot of retirees end up feeling lost once their career is no longer part of their everyday life. Without the identity that their job provided them, they don't know who they are anymore. Some retirees end up going back to work, while others eventually find their way through to a fulfilling second act. If you are retiring or thinking about retiring, here are some ways to make the transition to your new life smoother. (See also: <a href="http://www.wisebread.com/6-things-you-might-do-on-your-first-day-of-retirement?ref=seealso" target="_blank">6 Things You Might Do on Your First Day of Retirement</a>)</p> <h2>1. Volunteer for your favorite nonprofit</h2> <p>Most of us have a nonprofit or two that we support and would love to do more for, if only there were time. Well, guess what? When you retire, you will finally have that time. Why not invest it in an organization that means something to you? You can volunteer at your local animal shelter, church, homeless shelter, or any other organization you've always wanted to offer a helping hand to.</p> <p>If you think you will miss your job or you have professional skills that you want to continue using, you can almost always find a way to use them in the nonprofit sector. Many retirees end up having a voice on the board of their favorite nonprofit, maintaining the books, or using their interpersonal skills to provide friendship and counsel to vulnerable populations, such as at-risk teens, elderly people, or refugees. If you have the interest, the skill, and the time, you can always find a place that needs what you're offering.</p> <h2>2. Focus on relationships</h2> <p>When life is busy, it can be hard to focus on relationships. As you look toward retirement, think about the relationships you want to invest more time in. Maybe you can finally take your spouse out to dinner every month, like you've wanted to do since you got married. Maybe you want to baby-sit your grandchildren once a week to develop a closer bond with them.</p> <p>Investing in relationships can be an adjustment at first, especially if the people around you aren't used to you having so much time available. If you persist, though, you may find that you get to know your loved ones better than you ever did before.</p> <h2>3. Find a part-time gig</h2> <p>Retirement is the perfect time to find a part-time job doing something you've always wanted to do. Maybe you adore animals, and now you finally have the time to put in a few hours a week at a boarding facility. If you love plants, you can probably find part-time work at your local nursery. If antiques have always been your hobby, look for work at a shop or auction house.</p> <p>See this as an opportunity to explore interests that you couldn't explore before. If you're truly interested, willing to learn, and humble, you can find work where you can learn about almost anything. (See also: <a href="http://www.wisebread.com/6-cool-jobs-for-retirees?ref=seealso" target="_blank">6 Cool Jobs for Retirees</a>)</p> <h2>4. Follow your dreams</h2> <p>Most of us have things we've always wanted to do but just couldn't get into because of the time involved. Retirement is the perfect chance to pursue these opportunities. Think about taking up an instrument, learning to paint, or finally getting that degree you've always put off pursuing. You may even want to start a small business or look at selling something that you make on the side.</p> <p>Remember that you're never too old to start or learn something new. Whatever it is that you have always wanted to know, do, or be, you have the chance to pursue that after retirement, as long as you don't stand in your own way.</p> <h2>5. Look for open doors</h2> <p>One of the best things about being retired is that you can do what you want, when you want. You can also change course at any time if something isn't working out the way you wanted it to. This means that there's no reason not to go after something, even if it doesn't end up working out. Because you have freedom with your time, you can go through any and all of the doors that open to you, since you can always change your mind later.</p> <p>If you aren't sure what to pursue after retirement, keep an open mind. Try to see everything around you as a potential opportunity. When a door opens or an offer is made, walk through it. If it doesn't work out, something else will come along eventually.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-find-your-new-identity-after-retirement&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Find%2520Your%2520New%2520Identity%2520After%2520Retirement%2520%25281%2529.jpg&amp;description=How%20to%20Find%20Your%20New%20Identity%20After%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/How%20to%20Find%20Your%20New%20Identity%20After%20Retirement%20%281%29.jpg" alt="How to Find Your New Identity After Retirement" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="https://www.wisebread.com/how-to-find-your-new-identity-after-retirement">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-retirement-splurges-that-are-worth-every-penny">7 Retirement Splurges That Are Worth Every Penny</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/9-ways-work-at-home-seniors-can-master-work-life-balance">9 Ways Work-At-Home Seniors Can Master Work-Life Balance</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/im-financially-free-now-what">I&#039;m Financially Free. Now What?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/11-simple-rules-of-excellent-houseguest-etiquette">11 Simple Rules of Excellent Houseguest Etiquette</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-terrible-money-moves-to-avoid-on-the-first-date">6 Terrible Money Moves to Avoid on the First Date</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle Retirement family hobbies identity crisis part-time jobs relationships self improvement volunteering Mon, 27 Nov 2017 10:00:06 +0000 Sarah Winfrey 2057595 at https://www.wisebread.com 8 Reasons to Skip the Big Holiday Dinner This Year https://www.wisebread.com/8-reasons-to-skip-the-big-holiday-dinner-this-year <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-reasons-to-skip-the-big-holiday-dinner-this-year" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/unhappy_boy_stands_before_chistmas_tree.jpg" alt="Unhappy boy stands before chistmas tree" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's something you feel like you just can't avoid, and so you do it every year. The big holiday dinner. The one that, supposedly, everyone looks forward to. But do they really? Do you? For some, it can be an awful lot of stress. For others, the thought of those two particular family members in the same house, at the same time, is unbearable. Here's a reminder of why the holidays aren't always festive, and why you might consider opting out. (See also: <a href="http://www.wisebread.com/8-ways-to-actually-relax-over-the-holidays?ref=seealso" target="_blank">8 Ways to Relax Over the Holidays</a>)</p> <h2>1. Do you really need two big dinners in two months?</h2> <p>Let's start with the most obvious reason to skip the big holiday this year &hellip; there's more than one of them.</p> <p>Most Americans celebrate Thanksgiving, followed a month later by either Christmas or Hanukkah. Each one of those holidays is accompanied by a gathering of family and friends around some kind of feast. Why not skip one of them and put all the effort into the most important holiday for your family. When it comes to Christmas, people are so busy opening gifts and playing with toys that the additional feast on top can be a real strain. And with plenty of eateries open throughout the holiday season, you can either pop out for a meal, order in, or make something quick and easy. After all, it's not really about the food, it's the company. (See also: <a href="http://www.wisebread.com/6-alternative-ways-to-do-thanksgiving?ref=seealso" target="_blank">6 Alternative Ways to Do Thanksgiving</a>)</p> <h2>2. The clean up afterward is a pain</h2> <p>Large metal trays filled with grease. Pans caked in potatoes and gravy. A mountain of dirty plates, cups, and utensils. You're going to be at the sink for hours doing all the rinsing, scraping, and preparation for the dishwasher. And even then, the chances of getting it all in one dishwasher load are slim. That means you'll be back for a second round, after putting away the dishes from the first round. (See also: <a href="http://www.wisebread.com/10-tricks-to-keeping-your-kitchen-clean-while-you-cook?ref=seealso" target="_blank">10 Tricks to Keeping Your Kitchen Clean While You Cook</a>)</p> <h2>3. The preparation takes days</h2> <p>Right now, if you're celebrating Thanksgiving this year, you're already making plans for the big dinner. You have ideas of what you're going to make, and what the other guests will be bringing. There will be countless trips to the grocery store. You'll have to get that turkey brined if you don't want it to be as dry as a mouthful of sawdust. And let's not forget about the scheduling to make sure everyone gets their dishes into the oven at the right time, and everything gets onto the table when it's hot. There is a monumental amount of prep work involved in a dinner of this magnitude, and it can get even worse with issues like gluten sensitivities and other food allergies. (See also: <a href="http://www.wisebread.com/you-can-throw-a-fun-and-affordable-holiday-party-heres-how?ref=seealso" target="_blank">You Can Throw a Fun and Affordable Holiday Party &mdash; Here's How</a>)</p> <p>Who needs that kind of headache?</p> <h2>4. Who needs a political debate?</h2> <p>After a certain Donald J. Trump won a divisive election against Hillary Clinton, America has become fanatical about taking sides. Yes, politics is important to discuss to a degree, but should it break up families and cause screaming matches? The chances are, the more people you have in the room, the more heated the conversation will be. Fights are inevitable, even if you have a &quot;no politics&quot; rule at the table. So, skip the big dinner, and make it a more casual affair. Perhaps a buffet people can pick at during the day will make it easier to avoid certain topics &mdash; and certain grumpy uncles. (See also: <a href="http://www.wisebread.com/6-conversation-tricks-thatll-get-you-out-of-a-political-discussion?ref=seealso" target="_blank">6 Conversation Tricks That'll Get You Out of a Political Discussion</a>)</p> <h2>5. So many calories!</h2> <p>We all joke about it to some extent. &quot;Oh man&hellip;I am going to eat so much on Thanksgiving that I will literally turn into a giant pumpkin.&quot; However, there is a serious side to this. According to the Calorie Control Council, the typical holiday dinner alone clocks in at a whopping 3,000 calories! That's not including all the snacks, drinks, cakes, sweets, and other goodies people consume throughout the day. And let's not forget, those Thanksgiving dinner recipes rarely include the healthy options. It's all butter, heavy cream, bacon, fat, and other artery-clogging foods. The Calorie Control Council states that on the day, the average person will eat enough fat to equal three whole sticks of butter. Holy heart attack, Batman. (See also: <a href="http://www.wisebread.com/6-vegetarian-thanksgiving-dishes-that-hold-their-own-with-turkey?ref=seealso" target="_blank">6 Vegetarian Thanksgiving Dishes That Hold Their Own With Turkey</a>)</p> <h2>6. There's no room to store anything</h2> <p>When you start prepping for the big day, you realize that space is a premium that's consumed by a holiday dinner. The turkey alone can take up an enormous part of the fridge. Then there are all the extra fruits and vegetables, the cakes and pies, and enough snacks and candies to make the pantry door swell. You come home one day to find boxes of cookies overflowing onto the counters and the dining room table. You have to eat a bunch of food quickly to make space for more food that will be eaten on the big day. And get ready for that space to continue to be tight after the event, with all the leftovers and extra treats that people were too full to even touch.</p> <h2>7. Not everyone loves big holiday events</h2> <p>Like anything else in life, people have different ideas on what makes for a fun, entertaining event. For some people, these dinners are the opposite of happy. They may simply hate large gatherings. Or, they may be avoiding certain people for any number of reasons, only to be forced to sit around the same table with them for an evening. They may have other reasons, like the cost to attend, or the fact that they would much prefer to do something more intimate with just their immediate family. Why not send out a survey, that can be answered anonymously, asking the people you were planning to invite if that actually want to do it this year. You may be surprised at the results. (See also: <a href="http://www.wisebread.com/8-friendsgiving-hacks-thatll-make-everyone-feel-at-home?ref=seealso" target="_blank">8 Friendsgiving Hacks That'll Make Everyone Feel at Home</a>)</p> <h2>8. Getting there can be expensive</h2> <p>The average cost of a Thanksgiving dinner that feeds 10 people is around $50, according the American Farm Bureau Federation. That's a bargain right?! Well, that's the cost of dinner, and yes, it's cheap at $5 a head. However, the biggest expense for the holiday dinner for many people is the travel. Not every family is lucky enough to live 20 minutes from their relatives. Some have to drive across the country, staying in hotels and paying for many tanks of gas. Others fly, which as we all know includes not just the price of the ticket, but the baggage, seat selection, and check-in. If there is not enough room at the house, these people also have to shell out for hotel rooms, and perhaps a rental car. It's perfectly OK to let your family and friends know that you're watching your money this year, and cannot come. (See also: <a href="http://www.wisebread.com/11-ways-to-save-money-on-holiday-travel?ref=seealso" target="_blank">11 Ways to Save on Holiday Travel</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-reasons-to-skip-the-big-holiday-dinner-this-year&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Reasons%2520to%2520Skip%2520the%2520Big%2520Holiday%2520Dinner%2520This%2520Year.jpg&amp;description=8%20Reasons%20to%20Skip%20the%20Big%20Holiday%20Dinner%20This%20Year"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/8%20Reasons%20to%20Skip%20the%20Big%20Holiday%20Dinner%20This%20Year.jpg" alt="8 Reasons to Skip the Big Holiday Dinner This Year" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="https://www.wisebread.com/8-reasons-to-skip-the-big-holiday-dinner-this-year">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/15-cheap-and-delicious-punch-recipes-for-holiday-parties">15 Cheap and Delicious Punch Recipes for Holiday Parties</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-ways-to-actually-relax-over-the-holidays">8 Ways to Actually Relax Over the Holidays</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/8-old-holiday-traditions-we-cant-believe-ever-existed">8 Old Holiday Traditions We Can&#039;t Believe Ever Existed</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/6-vegetarian-thanksgiving-dishes-that-hold-their-own-with-turkey">6 Vegetarian Thanksgiving Dishes That Hold Their Own With Turkey</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/7-things-a-thanksgiving-turkey-teaches-us-about-money-0">7 Things a Thanksgiving Turkey Teaches Us About Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Food and Drink Christmas etiquette family holiday meals Holidays manners Thanksgiving Thu, 16 Nov 2017 09:00:06 +0000 Paul Michael 2054953 at https://www.wisebread.com Beyond Disney: 8 Affordable Family Destinations in the US https://www.wisebread.com/beyond-disney-8-affordable-family-destinations-in-the-us <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/beyond-disney-8-affordable-family-destinations-in-the-us" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/imagecache/250w/blog-images/it_is_a_piggyback_horserace.jpg" alt="It&#039;s a piggyback horserace" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>While some kids have a unique bucket list of travel dreams and goals, nearly every child dreams of going to Disney World one day. For many kids &mdash; and many families &mdash; Disney is a box that must be checked off no matter the cost or the inconvenience involved.</p> <p>But, with Disney World tickets approaching $100 per person, per day, many families can't justify the cost. This is especially true if you need to fly to the park, since even domestic airfare can add an extra $300&ndash;$500 per person to the cost of your trip.</p> <p>Fortunately, there is an array of other family-friendly destinations just waiting to be discovered all over the United States. If you're planning a fun trip with your kids but want to spend less than you would at Disney World, consider these affordable vacation spots all over the country.</p> <h2>1. Orlando, Florida</h2> <p>Sure, Orlando is home to Disney World, but that's not all. This southern city is actually bursting with affordable things to do and see that have little to do with Mickey Mouse or Donald Duck.</p> <p>For starters, you'll find plenty of non-Disney parks, including Fun Spot America Theme Park and Aquatica Orlando Water Park, both of which are less than $50 per person, per day to visit. Also keep in mind that the Disney Springs district (formerly Downtown Disney), which features plenty of Disney stores and attractions, is free to visit even if you're not going to one of the parks. You'll also find numerous non-park attractions in Orlando, including a wax museum, the Orlando Science Center, and Ripley's Believe It Or Not.</p> <p>The best part about Orlando is that there is a nearly endless supply of affordable hotel and condo options. Not only can you book a three-bedroom Orlando condo for less than $99 per night, but three-star hotel properties around the city start at just $50 per night. (See also: <a href="http://www.wisebread.com/8-affordable-amusement-parks-that-are-just-as-fun-as-disney" target="_blank">8 Affordable Amusement Parks That Are Just as Fun as Disney</a>)</p> <h2>2. Santa Claus, Indiana</h2> <p>While Santa Claus, Indiana probably sounds obscure (and it kind of is!), this tiny town is actually home to Holiday World &amp; Splashin' Safari &mdash; a theme park/water park that was recently named number four in the nation and number 13 in the world. The big difference is, instead of Disney's $100 per person ticket price, a day at Holiday World starts at just $27.99 per person. You also get free sunscreen, soft drinks, parking, and Wi-Fi, making it easy to save even more.</p> <p>But, there's other stuff to do in Santa Claus, including Santa's Candy Castle (a sweets shop), Santa's Stables (horseback riding), golf courses, and a berry farm. You can also pitch a tent affordably at Lake Rudolph Campground &amp; RV Resort, or book a local two-star or three-star hotel for as little as $56 per night in October. (See also: <a href="http://www.wisebread.com/the-easiest-ways-to-save-on-your-next-rv-camping-trip" target="_blank">Easiest Ways to Save on Your Next RV Camping Trip</a>)</p> <h2>3. San Diego, California</h2> <p>San Diego is well-known for its year-round perfect weather, its beautiful beaches, and its endless bounty of things to do. You can visit the famous San Diego Zoo, check out the USS Midway Museum, explore Balboa Park, or enjoy a beach day in nearby (and famous) La Jolla.</p> <p>While California is an expensive state to visit overall, San Diego can be surprisingly affordable. For example, you can book an overnight at a downtown hotel this October for as little as $70 per night. Heck, even the Wyndham Garden San Diego near Sea World can be booked for as little as $83 per night this fall. (See also: <a href="http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to" target="_blank">5 Most Affordable Cruise Lines for Families</a>)</p> <h2>4. Branson, Missouri</h2> <p>Branson is known for its honky-tonk music and over-the-top shows, but that's not all. The city is also home to a range of family-friendly activities to please kids (and parents) of all ages. You can check out an inexpensive country or Broadway-style show, visit the famed Titanic Museum, or ride rides at Silver Dollar City theme park or take on the Runaway roller coaster at Branson Mountain Adventure Park.</p> <p>Branson hosts a wide range of lodging options, many of which have amazing pools and on-site entertainment of their own. You can book a nightly stay at Castle Rock Resort &amp; Waterpark this fall for as little as $69 per night. (See also: <a href="http://www.wisebread.com/family-friendly-hotel-and-resort-chains-where-kids-stay-free" target="_blank">Family-Friendly Hotel and Resort Chains Where Kids Stay Free</a>)</p> <h2>5. Grand Canyon</h2> <p>The Grand Canyon is a natural wonderland with jaw-dropping scenery and ample opportunities for outdoor recreation. Depending on where you stay near the Grand Canyon, you can find hiking, white-water rafting, and waterfalls to explore.</p> <p>The Grand Canyon Skywalk allows your family to walk over the expansive canyon without fear, while the historic Grand Canyon Railway offers a fun way to see the area without too much work.</p> <p>Amazingly, you can book a four-star hotel in Flagstaff for as little as $120 per night this fall, or a simple room at Country Inn &amp; Suites for as little as $99.</p> <h2>6. South Dakota</h2> <p>South Dakota is constantly overlooked as a top travel destination, which is a shame. Taking your kids to South Dakota is both a walk through time and a celebration of our country's natural beauty. Not only is the state home to historic Mt. Rushmore, but it offers the scenic Badlands National Park, Black Hills National Forest, and quirky spots like the Corn Palace and Wall Drug Store.</p> <p>South Dakota is perfect for a family RV or camping trip, or as part of an extensive road trip across the northern states. Hotels in Wall start at about $70 per night, while lodging in cities like Keystone starts at just $50 per night.</p> <p>Even some of the pricier hotels in the state are rather affordable. A night's stay at the three-star Black Forest Inn Bed &amp; Breakfast, for example, will set you back just $160 per night this fall.</p> <h2>7. Myrtle Beach, South Carolina</h2> <p>Myrtle Beach, South Carolina is beautiful indeed, but it doesn't get enough credit as an affordable beach destination. Believe it or not, you can book an oceanfront condo for as little as $700 per week this fall. Oceanfront hotels like Bar Harbor start at just $44 per night. If you want something fancier, even the Embassy Suites on the Myrtle Beach oceanfront can be booked for as little as $219 per night.</p> <p>While the beach will keep everyone in your group busy, there is plenty of other stuff to do when you tire of the sand and surf. For example, Myrtle Beach is home to several small amusement parks and water parks, plus a state park and a Ripley's Aquarium. (See also: <a href="http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to" target="_blank">10 Affordable Water Parks You Can Drive To</a>)</p> <h2>8. Gatlinburg, Tennessee</h2> <p>Gatlinburg, Tennessee sits in a beautiful setting among the gorgeous Great Smoky Mountains. The area is known for its mountain scenery, outdoor recreation like hiking and climbing, and a family-friendly atmosphere with plenty to do and see.</p> <p>For example, you'll find the Ripley's Aquarium of the Smokies, which features over 10,000 exotic sea creatures from all over the world. You can also enjoy the Great Smoky Mountains National Park in all its glory, dozens of breweries and mom n' pop diners, and shopping. Dollywood, an Appalachian-themed family park, is also just 20 minutes away in nearby Pigeon Forge.</p> <p>Both Gatlinburg and Pigeon Forge are affordable spots for families as well, with three-star hotels starting at just $109 per night this fall during peak leaf-changing season.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fbeyond-disney-8-affordable-family-destinations-in-the-us&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Affordable%2520Family%2520Destinations%2520in%2520the%2520US.jpg&amp;description=8%20Affordable%20Family%20Destinations%20in%20the%20US"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="https://wisebread-killeracesmedia.netdna-ssl.com/files/fruganomics/u5180/8%20Affordable%20Family%20Destinations%20in%20the%20US.jpg" alt="8 Affordable Family Destinations in the US" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="https://www.wisebread.com/holly-johnson">Holly Johnson</a> of <a href="https://www.wisebread.com/beyond-disney-8-affordable-family-destinations-in-the-us">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/10-affordable-water-parks-you-can-drive-to">10 Affordable Water Parks You Can Drive To</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/5-cities-where-airbnb-is-way-cheaper-than-a-hotel">5 Cities Where Airbnb Is Way Cheaper Than a Hotel</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/family-friendly-hotel-and-resort-chains-where-kids-stay-free">Family-Friendly Hotel and Resort Chains Where Kids Stay Free</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/should-you-go-on-vacation-while-youre-in-debt">Should You Go on Vacation While You&#039;re in Debt?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="https://www.wisebread.com/10-little-known-secrets-to-saving-money-on-your-next-cruise">10 Little-Known Secrets to Saving Money on Your Next Cruise</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Travel affordable children family grand canyon kid friendly kids orlando san diego theme parks united states vacation Mon, 25 Sep 2017 08:30:10 +0000 Holly Johnson 2025391 at https://www.wisebread.com