To begin taking control of your finances, you first need to know where you’re current finances are. You need to change your spending habits and you need to change your financial mindset. Last month I did my very first financial needs analysis…. And I learned a lot about myself. I also began working in financialContinue reading “Take control of your finances”
Author Archives: VNunez
Savings Accounts
on.mktw.net/436J7bI Now that rates are going up, interest that banks pay on a savings account should also go up right? Well, yes, you can find some high-yield savings account products but there are banks that are not raising rates as fast as the fed is raising rates. Before you decide if you should keep yourContinue reading “Savings Accounts”
Cash Value
https://player.vimeo.com/video/215867207?rel=0 Did you know that you can build cash value with a permanent insurance policy? Cash value acts almost like a savings account. It is not offered with term life insurance. One of the features that I really like about cash value in an indexed universal insurance (also known as a permanent insurance), is thatContinue reading “Cash Value”
Near retirement
youtube.com/watch Many people like you and me are nowhere near retirement, yet many of us have failed to save. On the other hand, many have saved quite a sum of cash but have not been able to grow and build their savings to a sufficient amount. The main reason it’s important to build and growContinue reading “Near retirement”
401k’s
twitter.com/cnbc/status/1639042590707425280 A 401K is a retirement account offered through your employer. Employers have the option to match your contributions. For example, you contribute 5% and your employer also contributes 5%. The tax benefit of a 401K is that you do not pay taxes on the money you contribute. You pay with pre-tax dollars and youContinue reading “401k’s”
Annuity
An annuity is a product that provides you with a stream of income mainly for retirement. It is meant to help you avoid outliving your savings. There are different types of annuities such as a fixed annuity, variable annuity, or indexed annuity. And annuities can be funded with a lump sum single premium payment orContinue reading “Annuity”
If I only knew…
Taxes and Retirement
I’m going to make this simple! If you opt to pay taxes on your retirement contributions now, you will not pay taxes when it is time to withdraw your money. If you opt to pay taxes later, you will not pay tax on contributions made to your retirement and you will pay taxes when youContinue reading “Taxes and Retirement”
Do you want to retire?
This might seem like a silly question to ask but it is a very important question to think about. The reason I ask is because I’ve seen many older people working in fast food restaurants and grocery stores and I wonder why! I wonder if those people ever thought about retiring or if they evenContinue reading “Do you want to retire?”
What does financial freedom mean to me?
To me, financial freedom means that I have enough money to be able to live the lifestyle I want. It means I am not limited to each paycheck because of bills, taxes, and living expenses. It means eliminating debt and receiving passive income. It means not having to worry about working past retirement just becauseContinue reading “What does financial freedom mean to me?”