Financial advice for retirement: On Your Side
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
INVESTIGATION INTO THE CONTAMINATION SINCE THE FACTORIES IN ECUADOR. STARTING TO PLAN FOR YOUR FINANCIAL FUTURE IS ONE OF YOUR NEW YEAR'S RESOLUTIONS, WE HAVE SOME HELP FOR YOU. >> A FINANCIAL EXPERT THAT HAS SOME TIPS YOU SHOULD KNOW ABOUT. >> IT IS A REALLY GOOD RESOLUTION TO HAVE. TO SAVE INSTEAD OF JUST SPENT. I AM JOINED BY CEO TERRY KENNEDY THANK YOU FOR JOINING US. I FIRST WANT TO TALK ABOUT PENSIONS. AND A LOT OF PEOPLE DON'T UNDERSTAND HOW THEY WORK. YOU ARE SAYING NOW IS THE TIME TO FIGURE IT IS THE PENSION SYTEM IS BROKEN. IT'S BEEN BROKEN A LOT OF TIME. THEY HAD TO PULL BACK WHAT THEY ARE GIVING PEOPLE. PEOPLE NEED TO BE EDUCATED ON THEIR PENSION, WHAT THEY DO HAVE SO THEY CAN SAVE ON THEIR OWN. >> CAN YOU EXPLAIN WHAT YOU SHOULD BE DOING THIS FINAL WEEK BEFORE JANUARY 1.
>> IF YOU DON'T HAVE AN ADVISOR, I WOULD GO FIND ONE. SOMEONE THAT CAN HELP YOU. I WOULD SAY GO FIND SOMEBODY. YOU START SAVING AS SOON AS POSSIBLE. YOU NEED GOOD TIMES ON YOUR SIDE IF YOU SAY. I LOOK AT MY BUDGET RIGHT AWAY AND SAY HOW CAN I TIGHTEN UP A LITTLE BIT AND NOT SPEND SO MUCH >> GET YOURSELF AN ADVISOR. START SAVING AS SOON AS POSSIBLE COMPOUNDING INTEREST IS ON YOUR SIDE, LIKE I SAID. THREE, TIGHTEN UP YOUR BUDGET. MAKE SURE YOU GET INTO SAVE MONEY STRATEGY SO YOU DON'T LOSE MONEY. LOSING MONEY ACTUALLY HURTS WORSE THAN MAKING MONEY.
>> 250,000 TEACHERS NATIONWIDE. POTENTIALLY LOSING 40-50% OF THEIR INCOME IF THEY DON'T TAKE SOME PROACTIVE STEPS. >> PAYING OUT 50% NATIONWIDE. SAY YOU ARE MAKING $80,000 A YEAR, IMMEDIATELY GO TO 48,000 AND YOU ARE RETIRED, THAT HURTS. YOU NEED TO SAVE UP SO YOU CAN DRAW FROM THAT TO PUTT WITH YOUR PENSION. >> ALONG THE LINES OF TALKING ABOUT TEACHERS, YOU ALSO HAVE A NONPROFIT THAT GOES INTO UNDERSERVED SCHOOLS. DOES A LOT OF VACATION PROJECTS. I KNOW YOU HAVE DONE STUFF WITH LAUSD WHILE YOU ARE HERE. CAN YOU TELL US A LITTLE BIT ABOUT THAT.
THEY DON'T KNOW WHERE THEY WANT TO GIVE HER WHAT THEY WANT TO DONATE TO. >> APPRECIATION AMBASSADORS. WE GO TO THE SCHOOLS. WE DO THINGS LIKE LANDSCAPING, PAINTING. WE'VE DONE SOME COOL ART MURALS. WE'VE DONE BASKETBALL COURTS AND BASEBALL DIAMONDS AND ALL KINDS OF STUFF. WHEN THE KIDS COME IN, IT IS THE MOST AMAZING THING TO SEE THEIR EYES. WE HAVE NOW BEAUTIFIED THEIR SCHOOL. WE DO IT WHILE THEY ARE NOT THERE AND IT JUST UPLIFTS THE WHOLE PLACE. >> WE HAVE ONE MORE WEEK LEFT IN THIS YEAR. IS THIS A GOOD TIME IF YOU HAVE A LITTLE EXTRA MONEY TO DONATE IT AND THEY GET THE TAX INCENTIVES? >> ABSOLUTELY. YOU DON'T GET THE YEAR TO DONATE AND TAKE THE DEDUCTIONS..
Posted in Retire Wealthy, Retirement Planning, Tips for Retiree's