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When Is It Time to Cut Your Kids Off From Your Finances?

Deciding when to let your children stand on their own can be tough, especially when they’re contending with student loans, underpaying jobs, or sky-high rents. But easing your kid’s entry into adulthood could be undermining your own financial security.

According to a December survey from CreditCards.com, three-quarters of parents are providing financial support for their adult kids.

But at a time when the majority of Americans haven’t socked away nearly enough for retirement—the median retirement savings for all working families in the US is just $5,000, according to the Economic Policy Institute—it makes sense to do a little less for our offspring, so we can think a little more about ourselves.

So, how do you figure out when and how to cut your kids off financially?  Learn more below.

Source: https://www.thebalance.com/when-to-cut-your-kids-off-from-your-finances

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Don’t bother wondering why your friends seem to have nicer homes, cars, and vacations — there’s only one measurement that matters

Basing your spending off how your friends spend their money is a huge mistake to make.  Large spenders may also be building crippling debt.

You won’t find a real answer to how you’re doing in a Federal Reserve survey or a social media feed.  You will find it by measuring yourself against rules of thumb, refined over decades and endorsed by financial pros  that point the way toward true financial health.

Start with these:

Source: http://www.businessinsider.com/why-you-should-ignore-others-when-setting-personal-finance-goals

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How Much Money You Need To Save Each Day To Become A Millionaire By Age 65

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

If you want to get rich, start investing- and start as early as you possibly can.

To illustrate the simplicity of building wealth over time, Bach created a chart detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you’re 65.

Next time you consider running to Starbucks for a $4 latte, think about this chart and consider redirecting that coffee cash to your savings.  Check it out here.

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Tony Robbins’ 10 Tips for Living Rich

If you want to be happy, but you’re having a tough time in life due to personal or financial issues, it’s important to take whatever steps possible — even small ones — to progress and grow.

This best-selling author’s advice has been featured prominently in magazines, digital media and in national televised media. He travels all over the country every month for events to inspire people in their lives and in business.

Click HERE for some of Tony’s top pieces of advice on how to change your mindset in ways that can have a positive impact on your life and your finances.

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How Cars Affect your Financial Freedom

It’s not that I don’t want a really fancy car, it is just that there is something I want a bit more: financial freedom. Car payments are many times the #1 obstacle that causes the average family not to achieve financial stability. Spend some time thinking about your current car situation.  Are your car purchases making your bank richer or you?

Here is a great read about “How Your Car Affects Your Financial Freedom.”

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The Boring Secret to Getting Rich

Many people dream of becoming rich but don’t have any idea how to make it happen.  There’s no magic formula, but there are many steps you can take to gain an advantage.  The secret to getting rich is simply doing what most people can’t.

Click here to learn Money Magazine’s boring secret to getting rich.

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The Best Revenge on an Ex-Husband: Building Wealth

With the help of a financial advisor, a divorcée bounces back.  Her advisor told her that the best way to get back at her ex-husband was to become extremely successful.  He was right.

Read full story here.

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In Your 20s? 30s? 40s? 50s? 60s? The Best Financial Goals for Every Age

We’ve devised a little roadmap of goals that everyone can follow to make sure they are meeting the right financial goals for their age.  Of course, you can accomplish any of these goals sooner, but this is a good general map of where you should be at any given age:

Learn more here.

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6 ‘Must’ Things To Have Before You Turn 40

Thus they say “life begins at 40.” It is true in a sense that most people should be stable, ideally, in all aspects of their life when they turn 40—the “prime” stage in a person’s life.

It is when you are 40 when you can do and be in your greatest potential—and at least, have already achieved the following:

Click here to learn the 6 “Must” Things To Have Before You Turn 40…

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10 Reasons You’re Not Rich Yet

No matter how much you earn you could be creating your own barriers to financial success without even knowing it. Here are 10 things you might be doing that are preventing you from achieving financial freedom.

Click here to read Money Magazine’s 10 Reasons You’ll Never Be Rich. 

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