1. Don't finance your child's education with retirement savings
Alexey Bulankov, a certified financial planner for McCarthy Asset Management in Redwood Shores, Calif., says, "You can finance your child's education, you cannot finance retirement." Look into every possible avenue to finance your child's education, including student loans, grants, scholarships and work internships, which are offered at some private colleges. It's possible your child may not get to attend the college he or she would like, but it's important that your retirement savings not be touched. There's little room for "do-overs" for your financial security at this point, the experts say.
2. Don't spend on impulse, make a budget
You need to calculate how much money you need every month. You should have a clear idea as to where your money goes. A good planning and budgeting on household and other expenses will help you control your finances. Identify your wants and needs and make a clear choice. Always keep an account of what you are spending on.
3. Don’t use IRS like piggy bank
Don’t use the IRS like a piggy bank. There is no reason to take your hard-working money out of commission. Just think, if you’re annual refund is $1,000 that means you could increase your take - home pay by more than $83 a month. Read more...
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hear there's talk of using pensions to fill potholes..er..invest in road construction projects. so maybe another thing to do is not rest assured a pension will pay out what is currently forecasted..dunno. maybe stay involved, informed, hands on, investigative. another thing to know about-clawbacks. if ur fund is risky, and u escape ahead of it's fall..they have precedence set to attempt clawbacks....redistribute the loss fairly, evenly they say. shared sacrifice and all that.
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