Let’s face it, money mistakes happen. But some mistakes can really mess up your future. This guide will talk about 8 common money blunders that people often regret later in life. Let’s learn how to build a strong financial future and avoid those “what if” moments. If you need help on how to manage your structured settlement, we have independent advisors we can connect you with. Any questions? We are here to help!
Everybody makes mistakes. But avoid the kind that can trash your savings and ruin your retirement.
Like a pebble tossed in a pond, small decisions you make today can have a growing impact on all of your tomorrows.
That’s especially true when it comes to money mistakes. We do the wrong things for so long, they become habits. And those habits can rob our golden years of much-needed gold.
But here’s the good news: By investing just a few minutes, it’s possible to stop those money mistakes, boost your income, slash your expenses and end up with a happier, less stressful retirement.
Following are nine simple mistakes you’re likely making, along with simple solutions designed to immediately and painlessly turn things around.
Not all these tips may work for you, but some will, so read them all.
If you’re like most Americans, you’re probably paying too much for car insurance. But shopping around for a better deal is such a hassle.
Well, it used to be.
Now you can just check out Provide Insurance, the largest online marketplace for insurance in the U.S. Provide Insurance lets you compare quotes from more than 175 different carriers in minutes.
All you have to do is answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.
You could save up to $610 a year on car insurance by using Provide Insurance. That’s money you could use for other things, like investing, saving or paying off debt.
Don’t let your current insurer overcharge you. Try Provide Insurance today and see how much you can save on car insurance.
If you want to grow your savings, work with a professional.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!
If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an advisor can help lower your tax burden, create a comprehensive financial plan, maximize your Social Security, help with estate planning and making sure you’re on the right track. They can also be there in case one day, you’re not.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free, no-obligation consultation.
Debt is like a cancer that’s eating away at the ability to save. The sooner you treat it, the better your chances of financial survival.
Worrying about debt is probably the worst way you can spend your time, and paying interest and late fees is the worst way you can spend your money.
Solution? National Debt Relief. They’re one of the most respected providers of debt relief in the U.S.
They’ve helped more than 500,000 people, are A+ rated by the Better Business Bureau and also are top-rated by Top Consumer Reviews, Top Ten Reviews, ConsumersAdvocate.org and ConsumerAffairs.
If you’d like to be debt-free in 24-48 months, fill out a form on the company website and a debt coach will call you to learn more about your situation. If they can help you, they’ll set you up with an affordable plan that works for you. There’s no upfront fee and no obligation to get started.
National Debt Relief can help you with almost any unsecured debt, like credit cards, personal loans, medical bills, repossessions … even some student loan debt. If you’re debts are more than $10,000, don’t wait another minute. Check them out right now.
According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.
“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could scramble any nest egg.
Solution? Long-term care insurance.
One place to find it is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)
At least check it out and see if it’s a fit. Because a little planning today could mean a far more secure tomorrow.
One of the best ways to protect your savings is having money in different types of investments: ideally, ones that can go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.
One investment that thrives in this scenario: gold.
Keep in mind, though, that not everyone in the gold business is on the up-and-up. Be careful who you deal with.
Preserve Gold is a family-owned company committed to helping investors protect their wealth and retirement with physical precious metals. They offer gold, silver, platinum and palladium coins and bars delivered directly to your home. Plus, enjoy up to $25,000 in complimentary gold and silver, along with waived IRA storage fees for up to 5 years!
They also lead the industry in retirement account rollovers and will help to facilitate a transfer from your current custodian into a precious metals IRA.
Preserve Gold will beat any competitor’s price on gold and silver, and offers fast, free, insured shipping. And once you’re a client, they’ll buy back your metals and charge no fees.
Gold has been hitting record highs. Why not take a look right now?
The cost of car repairs is skyrocketing. One shop told Consumer Reports that a decade ago, their average repair was $1,600. These days, the average bill is $4,000.
If you’re concerned about coming up with thousands of dollars for a repair bill, protect your investment with a CarShield auto warranty.
CarShield provides extended warranty plans of up to 24 months, and allows you to choose from at least six different plans, so you’ll only pay for the coverage you need. They cover cars up to 20 years old and offer flexible month-to-month plans so you’re not locked in for years.
CarShield has a network of thousands of ASE-certified repair shops, and they pay the repair bill. All you cover is the deductible. All their warranties include 24/7 roadside assistance and rental car benefits while your vehicle is being repaired.
Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your castle can quickly crumble and cost you hundreds, or even thousands.
Unless, that is, a home warranty company has your back. Example? First American will protect you from giant bills by covering everything from home appliances to electrical, plumbing, heating and cooling systems — even pools and spa equipment.
They also allow you to customize your plan, so you only pay for what you need.
When something goes wrong, just call First American, day or night. The company has a network of prescreened technicians and typically dispatches an independent contractor within 48 hours.
Are you over 18? Then you’re eligible to save hundreds of dollars every year simply by joining AARP.
“What?” you say. “I thought AARP was for retired people.”
As it turns out, you don’t have to be 50 or older to join AARP. And members get discounts on hundreds of things, like:
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.
Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.
Avoid financial regrets and secure your future. Learn about the importance of retirement savings and explore annuity options to build a solid financial foundation. Schedule a consultation with a financial advisor today at 855-898-3278 or visit our Instagram for ideas and tips: @fastannuities.
Reference: [https://www.moneytalksnews.com/money-mistakes-youll-regret-when-youre-older/?recid=e209e6c3f6b2e291e55a0469430e3dc1]
A FAST team member will call you with more information and/or get you a FREE quote.
Fast Annuities Settlement Transfers, FAST, are one of the most experienced companies around as our Team has decades of experience. We have helped hundreds and hundreds of families, just like yours. We will listen to you, work with you on the plan you need and want, and help you get it done – and get your cash - and your life - back in your control.