No Retirement Plan At Work? A Lousy One? Here Are 5 Ways To Make Up For It And Retire On Time

Though workplace plans can be imperfect, it’s undeniably easier to save for your golden years when your employer offers a retirement account.

Unfortunately, not all workers have access to a retirement plan at work. According to 2016 research by Pew Charitable Trusts, over one-third of private sector workers (who are not self-employed, farmers, or in the military) do not have access to an employer-sponsored retirement plan.

Moreover, an employer match is a huge incentive for workers to save. According to the Employee Benefit Research Institute’s 2017 Retirement Confidence Study, nearly 3 out of 4 workers who were not saving in their retirement plans would welcome a match. The survey found workers would be somewhat more likely to save if they were offered one.

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One Big Money Mistake Couples Often Make Before Having Their First Child

When you have a child, your priorities change. This may seem obvious, but it caught me by surprise when I was a new mom.

My career had always brought me a great deal of satisfaction. I had always loved working, so I had no idea how much I’d want to stay home with my baby during those early years.

When my son was four months old, I went to drop him off at childcare to head off to a business meeting. At the childcare center, I rocked him in a rocking chair and suddenly, tears started rolling down my face. I just couldn’t leave him that day. Finally after about 20 minutes, I packed him back up and headed home instead. Right then, I decided my plans needed to change.

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New Parents: Here Are Your First Two Money Moves When Baby Arrives

I’ll never forget holding my infant son in my arms and rocking him back to sleep in the middle of the night by the fireplace. In that moment, life stood still for me.

Whenever I think of those early days, that wonderful memory of holding my tiny boy comes back to me as if it were yesterday, even though it was 28 years ago.

Your life will change a lot in your first year as a parent. As with most life milestones, there are a couple of very important financial moves to make during that time.

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New Parents Dilemma: Should I Save For My Child’s College Or My Retirement?

This story originally appeared on Forbes.com as New Parents: Which Comes First, Saving For Your Kid’s College Or Funding Your Retirement?

Saving for college before funding retirement seems like a no-brainer for new parents.

When a new baby is born, you may think, “College is only 18 years away, while retirement is way down the line!” You may even think you’ll never retire at all, so why worry about it now? You certainly don’t want your kids burdened with student loans like you were.

This knee-jerk reaction could pose problems later. Regardless of your gut instinct, saving for retirement comes first.

You may be wondering why a financial planner is discouraging new parents from saving for college — aren’t planners always telling people to save for their goals?

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5 Easy Ways To Keep Some Of Your Money

When your paycheck hits your bank account, it might not look like much.

Federal, State, Social Security and Medicare taxes are taken out. Medical, dental and vision insurance and your 401(k) contribution are withdrawn before you even see your check.

Automatic deductions such as your Employee Stock Purchase Plan, car payment and transfer to savings hit, too. Your net pay looks a lot different than your gross pay. Don’t let that fool you though.

When you look at one single net paycheck, your income stream might look small but when you look at how much money you make over your lifetime, it’s astounding!

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Watch Six On History Channel But Watch Out For The Negative Money Message

Love the show, Six, on The History Channel.

Hate the money message, though.

After seeing actor, Walton Goggins play Boyd Crowder on “Justified,” I’ll watch him anytime anywhere. That means I am watching — “Six” a mini-series based on Seal Team Six.

My take: entertaining show. I love the positive theme “Never leave a brother behind.”

It’s the underlying money message that really bothers me.

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Smart Shoppers Guide: Look Fabulous For Less Money

I used to be excited when I bought something on sale. The “deal” was my indication of success. In hind sight, I wasted a lot of money with this mindset. Price is only one part of the equation.

A better way to think about your purchases is to determine the cost per use.

For example, when I changed jobs 3 years ago, I needed a lap top bag for client appointments. Professional looking was a must and something sturdy was vital. I decided on a black Michael Kors tote so it could double as a purse. I’ve used it just about every day for three years now and it looks brand new. I anticipate it will last at least another two years.

That tote was a great purchase. It was about $250.00 at the Michael Kors factory outlet store (not on sale.) Since the purse is a classic style, made to last many seasons and goes with everything I own, it was a winner.

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