You vote every day as you spend your money. You endorse this brand over that, this vegetable over that. Maybe one reason so many people like to shop is that making choices is empowering and feels like an expression of your individuality. The marketing industry has studied how we make decisions. They study whether we […]
Author: Dr. Penelope
Are You Blocking Your Own Financial Success?
Are you getting in your own way? Sometimes we ourselves are the roadblock to what we want for our financial future. Here are a few ways this happens in relation to growing your assets: Impatience. You invest and expect great gains in a short time. When that does not happen, you dump that investment and […]
Budgets and Diets Can Be Detrimental
They are saying, “No.” In my experience, kids don’t like to hear “No,” and neither do many adults. There are lots of examples of adults getting angry when they’re told, “No, you can’t do that,” or when they are corrected or told they are wrong. So, do we abandon all hope of improvements? Do we […]
What Covid-19 Is Helping Us Learn About Our Lives and Money
It does not matter to the Covid-19 Pandemic if you’re careful with money or a spendthrift. Its virulent impact reminds us of things we know and forget and relearn. What are some things we are discovering or relearning about ourselves, our lives and our money? Enjoying your own company. People who live alone may have […]
Five Things You Didn’t Know About Social Security
The 85th anniversary of Social Security takes place on August 14, 2020. In my article “Five Things You Didn’t Know About Social Security,” at Senior Planet you’ll get a bit of history, learn some interesting facts and get the answer to the question of…Will Social Security run out of money? https://seniorplanet.org/five-things-about-social-security/
Is a Reverse Mortgage Right for You?
When you retire, how will you cover rising expenses? If you think that a reverse mortgage is a worthwhile option to close the gap between income and expenses, please be cautious. Click the link below to read “Is Reverse Mortgage Right for You?” to learn more about the important factors you need to be aware […]
Is It Time to Move?
While your home may be lovely, packed with memories and a haven you say you may never want to leave, it may also be a hazard in retirement. Sound surprising? Click the link below to read “Is It Time to Move?” to see the key questions you need in determining if your home will continue […]
Before You Retire, Ask These Thorny Questions
Most of the focus for retirement planning is about how much money you need. Yes, that is important, but if you haven’t asked the right questions about how you live in retirement, all you have is a target number from a calculator. There are many retirement calculators on the internet and there are even more […]
Does Your Retirement Portfolio Have Fat Cows?
Let’s define the terms. “Portfolio” is all your assets that can grow and produce income. I’m looking for fat cows. I apologize to farmers and ask their indulgence as this city person talks metaphorically about cows. By fat cows I mean a cow that gives milk which is the dividend or income and a cow […]
Risks That Can Batter Your Retirement Assets
Your retirement assets may have to respond to many different risks. Which of these worry you and which do you have a strategy for? Risk to principal. You buy a stock at $30 a share and it drops to $15 a share. Ouch! What are your choices? Wait for the price to rise? Take the […]