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The dream of many Americans is to leave behind the day-to-day doldrums of life in America and find a new place to call home during retirement. Maybe it has always been your dream to spend your days relaxing on a beach, or you prefer to immerse yourself in a new culture in the Old World, retiring abroad is a goal that many strive to achieve.
Retirement is the goal for every working individual in America, but a comfortable retirement should also be a part of that goal. Unfortunately, each year there are millions of Americans that make mistakes entering retirement. Some of these are small and easily avoidable, while others require caution and attention to detail to avoid.
Some people assess their financial worth based upon the income they receive. Your worth is more about how you spend your money than how much you make. Yes, you could be making a lot of money right now, but if you are spending a lot of money, then you might not have a high net worth.
The new Trump Administration has been talking, since Inauguration Day, about the repeal and replacement of the current Affordable Care Act, inextricably linked to President Obama and known colloquially as Obamacare.
All investments come with some level of risk. When you entrust your money to the market, you risk losing all of it or accumulating very small gains if your funds are directed toward ultra-conservative risks with low, but guaranteed, growth over time. Assessing how much risk you can afford to take is an important part of investing, but how do you go about doing so?
The average individual usually has a retirement plan. For those who do not have a private investment portfolio of some variation, there are employer-funded plans such as 401(k)s that help provide for their financial future. When it comes to a 401(k), there might be some secrets you are unaware of about those plans.
Smaller Companies have Higher Fees
You are responsible for many of your own tax decisions. Small-business owners, independent contractors, and full-time employees at major corporations all have the right to make the most of their income. Yes, the government dips into your paycheck long before you get it, but there are things you can do to protect some of your income and start saving for the future.
We usually reserve the New Year for health or occupational resolutions. While some of these goals may involve a shift in finances, it might be time to look at the financial patterns you have inhabited. There is no time like the present to make changes, and there are no better habits to break in 2017 than those below:
Spending > Earning
There are several issues that can create trouble for a couple's relationship. Financial matters usually take first place as money can quickly complicate the smallest of things. Whether it is reckless spending by one person, or a lack of financial strength by the other, monetary attributes tend to put blame on individuals.