Believe it or not, a retirement in the near future is feasible, some financial advisers said. How much money someone needs to accumulate before retiring depends greatly on the individual’s circumstances and numerous factors. If you expect a shorter life expectancy and can live off $3,000 a month, you’d be right under the typical 4%…
If you’ve owned your house for a long time, you probably have substantial equity in it. People who are 62 or older can tap that equity in the form of a reverse mortgage. Instead of you making monthly payments to the bank, the bank pays you: a lump sum, monthly payments, or a line of credit that…
Building wealth is essential to accomplish a variety of goals, from sending your kids to college to retiring in style. But establishing a solid financial foundation will also help you survive stock market corrections and bear markets, recessions, health emergencies and other setbacks. Our plan outlined here covers every aspect of your financial life, from…
For expenses you can change, look at your bank and credit card statements for unnecessary monthly subscriptions, like gym memberships, that come out automatically. “Call or go online immediately to suspend those,” suggests Kristi Sullivan, certified financial planner with Sullivan Financial Planning in Denver. She also suggests temporarily stopping any automatic payments for college savings or retirement…
Not to be overlooked is direct ownership of rental property, according to Kristin Sullivan, CFP, owner of Sullivan Financial Planning in Denver. “In the modeling for retirement income planning, I’ll often show the impact of keeping the rental property and using the income throughout retirement versus selling at some point in the future,” she said.…
Spoiling grandchildren can work out well for everyone involved if some ground rules are established first. “A really good way to start right is to ask your children — the parents of the grandchildren — what they would like to see in terms of ‘spoiling,’” said Kristi Sullivan, founder of Sullivan Financial Planning in Denver.…
Kristi Sullivan, a Denver-based certified financial planner, thinks an arrangement like Cenatiempo’s is fair. “You could have used those points for something else,” Sullivan said, citing how every room or flight you get for “free” via points means you’re trading off another way to redeem those rewards. “People don’t think of credit card points as…
I was thrilled to be named one of Credit Donkey’s Best Investing Blogs for 2016: With so many investing sites out there clogging the Internet with fluff and unclear directives, you can easily get lost. We help you find your way by featuring the very best investing blogs and resources that can help you make…
During the excitement that comes with taking a new job, make sure you don’t forget about the retirement money you socked away in your former employer’s 401(k) plan. “People in their working years tend to switch jobs a lot and can lose touch with their [accounts],” said Kristi Sullivan, a certified financial planner and owner…
Well, another Election Day is coming up and I am thrilled. Why? Is it because I am SO excited about the two potential candidates that I can’t wait to cast my vote? Not exactly. The benefit of Election Day to all investment advisers is that hopefully for the next 3 ½ years we can…
