~~ 8 Habits of Highly Effective Retirees ~~
Habits are powerful. In fact, the difference between dreaming and doing usually hinges on habit. Fit people are in the habit of exercising. Musicians are in the habit of practicing. Writers are in the habit of writing.
The pathway to anything worthwhile is usually paved with pebble after pebble of practice; with habit.
What habits make for a great retirement?
Financial habits get all the press — saving, investing, budgeting — but isn’t retirement more than just a math problem? When you dream of your ideal retirement, do you see visions of spreadsheets and asset allocation formulas? Me either. Don’t get me wrong. You’ll need money, for sure, but it’s a means to an end.
Once your bank account is in shape, what other habits will make your retirement successful?
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~~ 7 Financial New Year’s Resolutions You Might Actually Keep ~~
New Year’s resolutions don’t change much. A the top of the list you’ll always find diet and exercise, spend more time with family, quit smoking or drinking, and save more money or get out of debt. Almost no one follows through—and almost no one gives it a second thought.
Maybe you should. Failed New Year’s resolutions have a real cost, says Joseph Grenny, author of Change Anything. When you give up on your diet, what becomes of that expensive juicer? When you abandon the treadmill, you do not get a refund. That session with a financial planner wasn’t free. Neither was the new car you wanted to drive to Aunt Lilly’s three states over.
Seven in 10 people who fail to keep a New Year’s resolution will lose more than $1,000 in this manner, according to Grenny’s online survey, which also showed that half of Americans give up on their goals within 30 days and 75% give up within three months. Perhaps most interesting, 77% have made the same resolutions each of the last five years.
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~~ How to be Smarter About Money in 2014 ~~
Every January, many of us make financial New Year’s resolutions to do things like spend less or contribute more to our 401(k)s. And every year, more of us break them than keep them — and end up poorer for it. So how do you make sure this year will be different?
While it’s not as popular a resolution as losing weight and getting fit (43% make this resolution), making smarter choices with money is the second most popular New Year’s resolution, according to the annual New Year’s Resolution Survey from Allianz Life Insurance Company. Nearly one in three Americans say they plan to make a resolution to improve their financial stability. Surveys show that the most popular resolutions include saving more money, paying down debt, spending less money and developing a long-term financial plan.
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