The real snowbirds, the Juncos, spend about 6 months north and 6 months south.
It happens every year around the beginning of October. The RVs are gassed up and heading south.
Step 5 is the CYA part of your financial plan. Cover Your Assets!
Life is full of obstacles to your financial success; a stock market downturns, job loss, illness, disability, divorce, death, natural disaster, boomerang kids, elderly parents, etc.
Step 3 of your financial plan is saving and investing to reach your goals.
You will need to generate a net worth statement to figure out what you got and then do a cash flow to figure how and where you are spending your money.
The financial choices in our lives are overwhelming and most households are not adequately prepared for retirement according to a survey by the Federal Reserve Board.
When you start a new job do you ask about the retirement plan? Retirement planning should start with your first job but almost never happens, no matter how many times I suggest it.
Social Security is synonymous with retirement income but it is much more.
Congresswoman Carolyn Maloney says, “Lower pay throughout their working lives means that women contribute less to retirement plans, receive lower pensions and lower Social Security benefits. The result is that women have substantially less income than men in retirement and are much more likely to live in poverty as they grow older.”