Blooom Review – A 401k Manager

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“One of the best online tools for retirement planning.” – The Wall Street Journal

“Making the complex world of 401ks more comprehensible.” – Forbes

“One of the World’s Top 10 Most Innovative Companies of 2015 in Personal Finance.” – Fast Company

All of the quotes above are referring to blooom, which is a company I believe can truly help many with their retirement. [Read more…]

Reaching Financial Independence IS Possible And Here’s How You Can Do It

Financial Independence - How To Become Financially Independent (3)One of my top goals in life is to reach financial independence. I technically want to be financially independent as well as an early retiree, but to make this post simple we will mainly talk about becoming financially independent.

Financial independence is when you earn enough income passively (such as through rental real estate or dividend income) to cover your expenses.

This way you can leave a job you dislike and pursue other passions in life such as spending more time with family, traveling, seeking a job you love, and more.

I want to reach financial independence so that my investments are working for me and earning me money. This way my future costs are covered and I’m still bringing in an income in case anything happens in the future.

Now, don’t get me wrong. I absolutely love life and my online business. However, I would rather be safe because you never know what may happen later in life. As you know, I’m a worrier and I would much rather be safe than sorry. Something medically may occur, the industry may change, I may change, and so on.

You just never know! [Read more…]

Do You Have An Emergency List For Your Family?

Financial Emergency List For An Emergency Response PlanIn our household, I manage most of the bills, financial accounts, and more. I know I’m not alone either – in most families, one person usually handles all of these things.

I’ve been in charge of our important information for years, mainly because it’s just something I know I can do and we’ve fallen into a routine now after doing this for so long.

Recently though, we realized that this could turn into a financial emergency disaster. I manage everything just from my memory, so nothing is actually written down and most of our bills are either auto-pay or paperless, so there is no paper record in our house of anything either.

This could be a financial emergency disaster because if something were to happen to me, I honestly do not know what Wes would do. It would make everything much more difficult for him when he would already be having a hard time, and that is not something anyone wants to deal with. Having some sort of financial emergency response plan is something we need to create.

While to some this situation may be no big deal, I know there are many, many families out there who would be very lost if something were to happen to the person who usually manages their financial situation. Accounts could get lost, bills may be forgotten about, and more.

It’s best to keep a financial emergency response plan of everything just in case something were to happen, even if it’s something no one ever wants to think about. Having one just makes life so much easier.

Below are three easy steps to creating a financial emergency response plan for your family. [Read more…]

Is My Employer-Provided Life Insurance Enough?

If the company you work for offers group life insurance, be sure to take advantage of this great benefit.  Employers are not required to offer life insurance, so if yours does be sure to count your blessings.  While having group life insurance is a nice bonus, it would be wise to consider purchasing additional life insurance on yourself. [Read more…]

4 Reasons You Need Life Insurance

4 Reasons You Need Life InsuranceAs a personal finance blogger, I am ashamed to admit this. I’ve been saying this for years but now I plan on getting serious about this. The truth is…

We don’t have any life insurance. 

We used to have a small amount paid for by our previous employers, but that was almost two years ago and it no longer exists so it’s not like it helps us at all.

We will absolutely add life insurance before we start a family, but it wouldn’t hurt us to start searching now.

Life insurance is so very important.

The main reason most get life insurance is because it can help your loved ones and anyone who depends on you. This way they can still pay the bills and grieve without having to worry about money. There are many more reasons to get life insurance though!

Below are four reasons for why you may need life insurance. Even if you don’t think you do, there might be a reason below so I suggest you continue reading! [Read more…]

Money Statistics That May Scare You

Money Statistics That May Scare YouAs a personal finance blogger, I try to do as much research as I can before I publish a blog post so that I can see the full picture.

However, whenever I research different financial topics I usually come across some scary money statistics.

The money stats you read in this post might scare you, but hopefully they can help you so that you can improve your finances and be better than the “average” person.

Even if you are doing better than the average person, that definitely does not mean that you are doing well financially either though.

You should always strive to do your best as sometimes “average” is not good enough for you to live a financially successful life.

Below are some scary money statistics that will hopefully whip you into financial shape. Enjoy! [Read more…]