Latest news with #MoneyEssentialsforWomen
Yahoo
a day ago
- Business
- Yahoo
Scared of a Market Crash? Warren Buffett Says That's Your Cue To Get Greedy
Wall Street has seen some serious highs and lows in recent months. These stock market moves have raised some concerns about a recession or a market crash. Read Next: For You: Fear can be a great motivator or a powerful roadblock for many investors. In fact, you may be familiar with the famous quote linked to Warren Buffett: 'Be fearful when others are greedy and greedy when others are fearful.' The advice may sound simple, but it can bring with it unexpected complexities and more decisions to make as an investor. But it may not be that clear cut. GOBankingRates talked to some financial experts for their advice about being fearful as an investor. 'A down market might be the best time to buy assets for the lowest price possible,' said Annie Cole, Ed.D., money coach and founder of Money Essentials for Women. 'While a down market can mean that your personal assets, such as home value or stock value, take a hit for a period of time, it also means that assets you don't already own are lowering in price — the perfect time for you to buy for a bargain.' Discover Next: 'Fear is the worst enemy of investors,' said Robert Johnson, Ph.D., professor at the Heider College of Business at Creighton University. 'The average investor underperforms the market because they panic.' Johnson added that perhaps the biggest weakness in any stock investor is the person who believes they can predict market rises and falls. Johnson said attempting to time the market is 'fools gold.' 'The best way to counteract this tendency to time the market is to practice dollar cost averaging in a broad based stock market mutual fund or ETF — like one that tracks the S&P 500,' Johnson said. 'That means you are consistently buying into the market whether it has headed up, down or sideways.' More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard How Much Money Is Needed To Be Considered Middle Class in Every State? 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Scared of a Market Crash? Warren Buffett Says That's Your Cue To Get Greedy
Yahoo
22-05-2025
- Business
- Yahoo
4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan
Retiring early may seem like a dream come true. And for some, it is — but often not for the reasons you might think. While more than half (58%) of workers retire earlier than planned, it's frequently due to unforeseen life events, according to research from Transamerica Center for Retirement Studies and Transamerica Institute. For You: Check Out: If you're looking to retire early and want to do it on your own terms, now is the time to take a closer look at your finances and long-term plans. GOBankingRates spoke with some financial experts to uncover the things your neighbor who retired early probably won't tell you about their financial strategy. Dr. Annie Cole, a financial coach and founder of Money Essentials for Women, is a professional on track to retire in her 40s. One of her top tips is to make it a habit to invest early and often, no matter how much you earn. 'Even when I was making $26,000 a year and struggled to pay my rent and buy groceries, I still set aside $20 every month in my retirement account,' Cole said. 'Investing is more about habit than the amount. If you can't get yourself into the habit, you'll have a hard time ever reaching your retirement goals.' Explore More: Cole also emphasized the importance of increasing your income — including passive income sources. 'I switched jobs every few years, advocated for raises and title changes and created multiple side hustles and businesses of my own to turn my unique skill set into income streams,' she said. 'Think about one of your unique skills or strengths that you can turn into a consulting service, freelance offering, online course or ebook.' In other words, early retirees aren't just good savers. They're also active earners who diversify where their money comes from. Many early retirees are quick to highlight their income streams, like rental properties or dividend-paying investments. But what often goes unspoken is how carefully they've planned for risk. Filip Telibasa, certified financial planner (CFP) and owner of Benzina Wealth, said that behind the scenes, early retirees tend to be very intentional about protecting their financial stability. That includes building in safeguards like insurance coverage, long-term healthcare planning well before Medicare eligibility age, and a solid estate plan. 'These aren't flashy topics,' Telibasa said, 'but they're critical for staying retired once you get there.' Without those protections, even the best-laid early retirement plan can quickly fall apart. One of the biggest challenges of retiring early is handling unexpected expenses and financial setbacks without a steady paycheck. That's why it's crucial to build flexibility into your budget. Kevin Estes, certified financial planner (CFP) and founder of Scaled Finance, advises retirees to simplify their lifestyle, paying only for what truly matters to them and cutting expenses where they can. That might mean moving to a smaller home, doing your own yard work, and cooking at home instead of dining out. These everyday trade-offs aren't just about saving money — they're about creating a financial cushion for when those surprise expenses inevitably come up. Whether it's a medical bill, a family emergency or a home repair, having a little room in the budget can make the difference between a minor setback and a major disruption. As Telibasa put it, 'The people who pulled it off early made a thousand little smart, often invisible, decisions. It's less about hitting the lottery and more about consistency, automation, and a clear sense of what matters most to them — both now and in the future.' More From GOBankingRates 4 Things You Should Do When Your Salary Hits $100K If a Financial Advisor Doesn't Ask These 5 Questions in Your Consult, Keep Shopping 5 Steps to Take if You Want To Create Generational Wealth Robert Kiyosaki: 5 Money Habits of People Who Retire Early Sources: Transamerica Center for Retirement Studies, 'Retiree Life in the Post-Pandemic Economy' Dr. Annie Cole, Money Essentials for Women Filip Telibasa, Benzina Wealth Kevin Estes, Scaled Finance This article originally appeared on 4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan
Retiring early may seem like a dream come true. And for some, it is — but often not for the reasons you might think. While more than half (58%) of workers retire earlier than planned, it's frequently due to unforeseen life events, according to research from Transamerica Center for Retirement Studies and Transamerica Institute. For You: Check Out: If you're looking to retire early and want to do it on your own terms, now is the time to take a closer look at your finances and long-term plans. GOBankingRates spoke with some financial experts to uncover the things your neighbor who retired early probably won't tell you about their financial strategy. Dr. Annie Cole, a financial coach and founder of Money Essentials for Women, is a professional on track to retire in her 40s. One of her top tips is to make it a habit to invest early and often, no matter how much you earn. 'Even when I was making $26,000 a year and struggled to pay my rent and buy groceries, I still set aside $20 every month in my retirement account,' Cole said. 'Investing is more about habit than the amount. If you can't get yourself into the habit, you'll have a hard time ever reaching your retirement goals.' Explore More: Cole also emphasized the importance of increasing your income — including passive income sources. 'I switched jobs every few years, advocated for raises and title changes and created multiple side hustles and businesses of my own to turn my unique skill set into income streams,' she said. 'Think about one of your unique skills or strengths that you can turn into a consulting service, freelance offering, online course or ebook.' In other words, early retirees aren't just good savers. They're also active earners who diversify where their money comes from. Many early retirees are quick to highlight their income streams, like rental properties or dividend-paying investments. But what often goes unspoken is how carefully they've planned for risk. Filip Telibasa, certified financial planner (CFP) and owner of Benzina Wealth, said that behind the scenes, early retirees tend to be very intentional about protecting their financial stability. That includes building in safeguards like insurance coverage, long-term healthcare planning well before Medicare eligibility age, and a solid estate plan. 'These aren't flashy topics,' Telibasa said, 'but they're critical for staying retired once you get there.' Without those protections, even the best-laid early retirement plan can quickly fall apart. One of the biggest challenges of retiring early is handling unexpected expenses and financial setbacks without a steady paycheck. That's why it's crucial to build flexibility into your budget. Kevin Estes, certified financial planner (CFP) and founder of Scaled Finance, advises retirees to simplify their lifestyle, paying only for what truly matters to them and cutting expenses where they can. That might mean moving to a smaller home, doing your own yard work, and cooking at home instead of dining out. These everyday trade-offs aren't just about saving money — they're about creating a financial cushion for when those surprise expenses inevitably come up. Whether it's a medical bill, a family emergency or a home repair, having a little room in the budget can make the difference between a minor setback and a major disruption. As Telibasa put it, 'The people who pulled it off early made a thousand little smart, often invisible, decisions. It's less about hitting the lottery and more about consistency, automation, and a clear sense of what matters most to them — both now and in the future.' More From GOBankingRates 4 Things You Should Do When Your Salary Hits $100K If a Financial Advisor Doesn't Ask These 5 Questions in Your Consult, Keep Shopping 5 Steps to Take if You Want To Create Generational Wealth Robert Kiyosaki: 5 Money Habits of People Who Retire Early Sources: Transamerica Center for Retirement Studies, 'Retiree Life in the Post-Pandemic Economy' Dr. Annie Cole, Money Essentials for Women Filip Telibasa, Benzina Wealth Kevin Estes, Scaled Finance This article originally appeared on 4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan
Retiring early may seem like a dream come true. And for some, it is — but often not for the reasons you might think. While more than half (58%) of workers retire earlier than planned, it's frequently due to unforeseen life events, according to research from Transamerica Center for Retirement Studies and Transamerica Institute. For You: Check Out: If you're looking to retire early and want to do it on your own terms, now is the time to take a closer look at your finances and long-term plans. GOBankingRates spoke with some financial experts to uncover the things your neighbor who retired early probably won't tell you about their financial strategy. Dr. Annie Cole, a financial coach and founder of Money Essentials for Women, is a professional on track to retire in her 40s. One of her top tips is to make it a habit to invest early and often, no matter how much you earn. 'Even when I was making $26,000 a year and struggled to pay my rent and buy groceries, I still set aside $20 every month in my retirement account,' Cole said. 'Investing is more about habit than the amount. If you can't get yourself into the habit, you'll have a hard time ever reaching your retirement goals.' Explore More: Cole also emphasized the importance of increasing your income — including passive income sources. 'I switched jobs every few years, advocated for raises and title changes and created multiple side hustles and businesses of my own to turn my unique skill set into income streams,' she said. 'Think about one of your unique skills or strengths that you can turn into a consulting service, freelance offering, online course or ebook.' In other words, early retirees aren't just good savers. They're also active earners who diversify where their money comes from. Many early retirees are quick to highlight their income streams, like rental properties or dividend-paying investments. But what often goes unspoken is how carefully they've planned for risk. Filip Telibasa, certified financial planner (CFP) and owner of Benzina Wealth, said that behind the scenes, early retirees tend to be very intentional about protecting their financial stability. That includes building in safeguards like insurance coverage, long-term healthcare planning well before Medicare eligibility age, and a solid estate plan. 'These aren't flashy topics,' Telibasa said, 'but they're critical for staying retired once you get there.' Without those protections, even the best-laid early retirement plan can quickly fall apart. One of the biggest challenges of retiring early is handling unexpected expenses and financial setbacks without a steady paycheck. That's why it's crucial to build flexibility into your budget. Kevin Estes, certified financial planner (CFP) and founder of Scaled Finance, advises retirees to simplify their lifestyle, paying only for what truly matters to them and cutting expenses where they can. That might mean moving to a smaller home, doing your own yard work, and cooking at home instead of dining out. These everyday trade-offs aren't just about saving money — they're about creating a financial cushion for when those surprise expenses inevitably come up. Whether it's a medical bill, a family emergency or a home repair, having a little room in the budget can make the difference between a minor setback and a major disruption. As Telibasa put it, 'The people who pulled it off early made a thousand little smart, often invisible, decisions. It's less about hitting the lottery and more about consistency, automation, and a clear sense of what matters most to them — both now and in the future.' More From GOBankingRates 4 Things You Should Do When Your Salary Hits $100K If a Financial Advisor Doesn't Ask These 5 Questions in Your Consult, Keep Shopping 5 Steps to Take if You Want To Create Generational Wealth Robert Kiyosaki: 5 Money Habits of People Who Retire Early Sources: Transamerica Center for Retirement Studies, 'Retiree Life in the Post-Pandemic Economy' Dr. Annie Cole, Money Essentials for Women Filip Telibasa, Benzina Wealth Kevin Estes, Scaled Finance This article originally appeared on 4 Things Your Neighbor Who Retired Early Won't Tell You About Their Financial Plan Sign in to access your portfolio
Yahoo
05-05-2025
- Business
- Yahoo
What Would You Do If Tariffs Took 25% More of Your Paycheck?
President Donald Trump has talked about how tariffs will help strengthen the American economy and jobs. But critics have expressed concerns about how those tariffs may impact everyday consumers and their family finances. Read More: Find Out: Economic experts have put out estimates that the tariffs could cost the average family anywhere from a few hundred dollars to thousands of dollars each year in additional expenses, as NPR reported. No matter how the tariffs may end up affecting your bank account and paycheck, here's what some financial experts say are good steps to take. Dr. Annie Cole, a financial coach and founder of Money Essentials for Women, said one of the first steps to take is to focus on adjusting your overall spending habits. 'Focus on the biggest spending categories first, which include housing, car payments or transportation and groceries,' said Cole. 'Then, explore ways to cut non-essentials such as travel and dining out.' Discover Next: 'A 25% hit to your paycheck means your cash flow needs a reset,' said Christopher Stroup, founder and president of Silicon Beach Financial. 'Identify fixed versus flexible expenses and prioritize your necessities accordingly. It's important to automate savings for non-negotiables like taxes and emergency reserves while putting discretionary spending under the microscope.' Per Stroup, cutting investments during times of economic pressure can backfire. 'Instead, redirect savings to high-impact areas such as tax-advantaged accounts, low-fee index funds or even your own business,' he said. 'A downturn might actually be the best time to buy when you have the right strategy in place. Volatility creates opportunity when your plan is built for it.' Cole said this could be a good time to seek the advice of a financial planner or advisor. They can help you to create a holistic financial plan for the long run that includes your career plans, any income changes and spending plans, along with debt, investments and retirement options. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees How Far $750K Plus Social Security Goes in Retirement in Every US Region 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 12 SUVs With the Most Reliable Engines Sources: NPR, 'Here's how Trump's tariffs could cost you and your wallet' Dr. Annie Cole, Money Essentials for Women Christopher Stroup, Silicon Beach Financial This article originally appeared on What Would You Do If Tariffs Took 25% More of Your Paycheck?
