Retire Ready Too

In this week's podcast, our amazing guest contributor, Nia Adams reveals her incredible journey of taking control of her financial struggles and turning them into financial successes.She opens up about the stressful times she faced as a young single mother before transforming her finances in powerful ways. From paying off $50K worth of debt to becoming a real estate investor and Certified Financial Education Instructor, she now educates and empower other women to take control of their finances to become money savvy and confident homeowners.Nia shares 5 steps to help potential homebuyers navigate the buying processBeing a successful homeowner requires preparation and research. Even if your credit is in order, it's crucial to ensure you can afford the house that you're buying. To prepare for home ownership there are five key steps: Build an emergency fund and have money for closing costs.Eliminate debt this can help buyers qualify for more mortgage options.Select the best team of professionals, research their brand and services before signing any contracts or agreements.Research loan products available in order to choose the best option that works for you; be aware of down payment assistance programs as they may come with certain requirements such as higher credit scores or needing to stay in the property for a set amount of time.Lastly, create a budget so that you are comfortably paying your current bills when taking on additional expenses like a mortgage payment.In addition, we discuss the complexities that come with the home buying process...including down payment assistance programs, negotiating closing costs, getting a home inspection and understanding loan estimate documents – all things that are essential when buying your own property.Listen now and take away valuable information about this crucial part of life - owning your dream abode! ========Mentions In The Podcast:Nia Adams:Certified Financial EducatorFounder: Perspectiveshttps://perspectiveschange.com/freehomeguidehttps://www.amazon.com/Life-Short-Buy-House-Homeownership/dp/B0BHLH7Z6L

Are you dreaming of buying your own home, but feel like it's impossible because of your credit challenges? Have you filed for bankruptcy or are still paying off student loans? Maybe you are a business owner with zero taxable income. If you feel there are challenges stopping you from buying a home, don't give up!There are plenty of options and resources available if you know where to look. This week's episode of the Retire Ready Too podcast, our guest contributor Arlene Pryce, Branch Manager and Mortgage Consultant of Team USA Mortgage provides assistance to aspiring homeowners who thought their dream of owning a home was out of reach. With years of experience in the industry and an abundance of knowledge, she is determined to help you achieve your goal of buying a home even if you don't fit the standard borrower profile. We discussed everything potential home buyers need to know about mortgages so that they can make an informed decision before committing themselves financially and emotionally into the home buying process. Tune in today!Mentions In The Podcast:Arlene Pryce, Branch Manager & Mortgage Consultant630-439-4497arlene.pryce@teamusamtg.comTeam USA Mortgage LLC, NMLS 234808Illinois  #031.00392981709 Tullamore St, Suite #D Bloomington, IL 61704www.teamusanaperville.mymortgage-online.com/

If you have every struggled with your finances and feel that you have tried every type of budget, watched how to create the best budget on YouTube videos, checked out finance podcasts, but nothing is working. It may be time to talk to a financial therapist. Yes, they exist!  Financial therapy is a great way to gain insight into your financial struggles and learn strategies to handle them. Talking to a financial therapist can help give you the tools and techniques needed to stay on track with your financial ambitions. With their expert help, you will be able to recognize issues that need addressing and gain a better understanding of your behavior, financial goals and habits. On this week's Retire Ready Too Podcast, guest contributor Lindsay Bryan-Podvin, Financial Therapist and author (The Financial Anxiety Solution) discusses  how financial therapy can lead to having a healthier relationship with money and provides guidance for navigating the holiday season without breaking the bank or losing track of what matters most. This episode serves as an insightful resource for anyone struggling to get their finances in order.=========Resources mentioned in the podcastLindsay Bryan-Podvin, Financial Therapisthttps://www.mindmoneybalance.com/Book: The Financial Anxiety Solution

Hey Parents! It is time to have the talk with your children around money.  Even if you did not have this talk with your parents or you were raised to believe money is a taboo subject that we do not discuss. If you do not talk to you children about money, how will they learn? Someone will teach them.It may be lessons learned from Hard Knocks University. No-one wants that for their children.  You may not know where to start, you may have made mistakes with your money. It's OK. Share your experiences with your children. They need to understand how money works.                              Now is a great opportunity to have these discussions.In this week's episode, guest presenter Clifton Corbin not only shares the why we need to talk to our kids about money, but when and how we should do it as well. He authored his first book, Your Kids, Their Money: A Parents Guide To Raising Financially Literate Children, which focuses on providing parents with the skills and tools to teach financial literacy to their children.He's a graduated of Niagara University with a Master's Degree in Business Administration and has spent years studying finance and is a passionate advocate for advancing the financial literacy of children and young adults.Clifton answers the following questions in the podcast and much more.... When to have the money talk?Do you pay an allowance or have them earn it? How much allowance should your kids receive? How to make managing money fun? Yes, it is possible

Becoming a business owner is not for the faint at heart. If it were everyone would take the leap.It can be a fairly scary adventure, especially if you go into it without a plan. In this week's podcast, my guest contributor Alexandra Davis, a fellow CPA, CFP® and I discuss our experiences as business owners; and the challenges we see other business owners face; and steps you can take to avoid common mistakes.  Whether you work for yourself or for somebody else, there are a lot of things you need to consider before taking the step. Many people think starting a company sounds exciting: you are the boss, making your own hours, more freedom to do what you want.But on the flip side of the coin is A LOT of sacrifice, long hours, lonely days and broke bank accounts.Here are some tips we suggest as you pursue a business owners' journey:Step 1: Develop The Right Mindset - Read self-development books, spend time with like-minded people and stay true to your why.Step 2: Create A Plan - Remain nimble and be prepared to pivot. A plan is a helpful start, but it will change, stay open to possibilities.Step 3: Build A Great Team - A good accountant and attorney are the key to mitigating mishaps. But building a network of other professionals will take you far.Step 4: Develop systems - Treat your business as a legit company from day 1. Develop sound accounting systems and procedures.Step 5: Stay The Course - No-one said it would easy, but everything you need to succeed is within you.Resources Mentioned In the Podcast:Alexandra Davis, CPA, CFP® - Founder, AGA Tax & Consulting Services, LLCwww.agataxservices.com Master The Money Game By Tony RobbinsGet Rich, Lucky Bitch By Denise Duffield-Thomas 

Have you ever gone to the store to purchase one item and you left with a cart full of crap you really don't need. Sounds familiar? Do you ever wonder why you made the choices you did? What were you thinking about at that moment? Or perhaps you were not thinking and someone else was doing the thinking for you. Sounds a bit eerie? But oftentimes it is true. Let me explain. I have to take you on a historic ride to get to my point so bare with me. In the 1920s Americans made purchases based upon their needs. They needed shelter, clothing, and food. Luxury items and anything beyond basic needs was purchased by the well-to-do. After World War II, the government and manufacturers began to wonder how they would keep the economy growing during peace time since all efforts and labor had been directed towards providing for the war. Entering the scene is “master manipulator” Edward Bernays, a public relations pioneer and the nephew of Sigmund Freud…many of us have never heard of him. He began by helping Woodrow Wilson's presidential campaign. It was during this time that he decided to change people's buying habits by making them believe they needed something they didn't need (and also making sure they couldn't live without it).By encouraging people to buy more stuff as “essential” to our lives, Bernays helped companies make millions—but at what cost? Today, we're still living with his legacy: consumer culture has taken over our lives and made us feel like if we don't buy every new product that comes along or create an Instagram-worthy life for ourselves then we are somehow less than other people who do these things.Some studies say we are exposed to over 10,000 ads a day (wow, that seems like a lot of ads) that convince us to buy things we don't need. So when you go to the store, make a purchase and later realize you did not need it, it could be because you were being influenced by some outside force and you just did not realize it. Think about this next time you go shopping for that one item. The good news is that you can learn how to break free from the consumerist trap and save money. You may even find yourself being happier for it!In this week's episode, guest contributor & Financial Fitness Coach, Rosa Colin and I have a conversation about consumerism, the impact that it has on our mental health and what steps we can take to live happy and satisfying lives.***************Resources Mentioned In Podcast***************Rosa Colin - Financial Fitness Coach and Founder, Mujeres Building AbundanceRosa is a bilingual clinician, who takes on a holistic approach in order to guide individuals to self-empowerment and self-healing. She believes in the power of caring for one's mental health to live an abundant life. You can connect with her on her social media platforms:https://www.instagram.com/mujeresbuildingabundance/https://www.linkedin.com/in/rosa-jennifer-colin-asw-cfei/https://www.mujeresbuildingabundance.com/resourcesBooks: The Seven Spiritual Loss of Success, Deepak Chopra 

This is a continuation of last week's podcast on planning for retirement when you don't have a pension. If you are concerned about having adequate retirement savings, you are not alone, 76% of Americans do not have access to a pension. When 401k retirement plans hit the scene in the 1970s, they were created as a supplement to pensions provided by corporations. However, as the cost of maintaining pensions increased, corporations sought ways to trim their budgets by placing the onus of saving for retirement on their employees via defined contribution plans. This decision has left the vast majority of Americans underprepared for retirement. The Policy of Economic Institute states, "the median family between the ages of 32 and 61 has only $5,000 saved in a retirement account, while the top 1 percent of families has a million dollars or more. "These accounts are accidents of history that were never designed to replace pensions..." 

The public sector (state and federal employers) is one of the few sectors that still provide their employees with a pension. The National Institute on Retirement states that less than 26% of American have access to a pension. What do the remaining  74% of Americans do? How do you plan for retirement when you don't have access to a pension? Today, I will provide some tips on planning for retirement without a pension . This is part I of a two part series, so don't forget to check back next week for additional tips. According to the A A R P, half of Americans do not have access to a pension nor a retirement plan such as a 401k or 403(b) that's 57 million people who don't have access to a retirement plan.

The Retire Ready Two Podcast is back for season two and just in time for fall. The goal of the podcast is to inspire, educate, empower listeners to take control of their lives and their money so that they can have a life by design. Rather than one by default. This week our guest contributor is Yarelys Tifa, a first generation professional who is passionate about teaching and impacting others on their financial journeys. After she became debt free in 2019, she began to use the tools and lessons she learned to help other people pursue the same. She graduated with a Bachelor's of Science and Resource Economics and a Concentration and Business management and marketing.Yarelys is sharing her heartfelt journey from humble beginnings to leaving a toxic work environment so she can pursue a business that was in alignment with what mattered most to her and makes a difference in the community.You can support Yarelys on her social media platforms listed below:  www.cashisqueenllc.com info@cashisqueenllc.comCash is Queen280 Route 17 North Suite 197East Rutherford, NJ 07073

This podcast is dedicated to providing financial education to families and business owners so that they can save and invest and build wealth for today and future generations. This is last podcast of season one...16 episodes. It has indeed been a journey.  Thank you to all those who have supported this podcast! In an effort to cool off the economy, on July 27, 2022, the Federal Reserve Board increased interest rates by .75 points. When the Federal Reserve Board increases interest rates it has a ripple effect that will eventually increase the interest rates on automobiles, mortgages and credit cards. Now is a time to get back to the basic money management. Here are some tips to manage your money during these uncertain times:==> Spend with intention. Pay attention to where your money is going, spend on those things that you need and defer your wants until later in the future. ==> Add money to your emergency fund. Advisors recommend saving 3-6 months of basic living expenses. However, if you are a business owner, you may consider saving closer to 9-12 months. Decide what is best for you and your family. ==> Continue to invest in the stock market. If you are saving for a retirement that is 10+ years away and your portfolio is well diversified. Don't allow the dip in the stock market to force you into making rash decisions. ==> Look for investing opportunities. There will be investing and wealth building opportunities regardless of business cycle. Mentions in podcast:IBonds on YouTubeFinancial Freedom Roadmap Course

The cost of college has been increasing at a rate greater than inflation for years, creating a financial challenge for college students and their families. Not to mention college graduates are also leaving their universities with the burden of student loans averaging  $30 - $37k. These debt numbers are even higher for those graduating with advanced degrees. I believe it is fair to say that a college education is still a worthwhile endeavor. If you look at the numbers, college graduates' lifetime earnings are $2.8 million to 3.2 million with a masters degree according to US News. compared to the lifetime earnings of a highschool graduate average around $1.9 million. In This podcast, guest contributor Francesca Sanders will discuss alternative means of getting through college without excessive debt or placing an undue financial burden on families. She will provide strategies any family can employ to make a college education affordable.

Today's podcast our guest contributor will discuss  life insurance, who needs it, why and factors that should go into determining how much is needed.Generally, the primary purpose of life insurance is income replacement for your loved ones should you pass untimely. But there are other factors that should be considered as well.Such as final expenses, estate taxes, leaving a legacy, charitable purposes. Life insurance can assist with your estate planning goals.  Our guest contributor, Spencer Williams is a State Farm agent licensed in the states of Illinois and Indiana. He has spent the past fifteen years helping families and individuals  prepare for the unexpected and improve their financial well-being.He also volunteers his time with Junior Achievement, a non-profit organization that teaches economic and entrepreneurial concepts to students from elementary to high school.  When not running his practice or volunteering, he enjoys spending time with his family, reading or exercising.

Can you imagine waking up every day excited to start your day? Being passionate about your work? How does the idea of doing what you want to do, when you want to do it with whomever you want to do it with sound to you?                                          It's possible!  It's called Financial Freedom! It's not an elusive concept. More and more Americans are joining the Financial Freedom Movement to redefine the American dream, including this week's guest contributors, Rob and Reshawn Lee. They  will be sharing how they paid off six figures in debt; left their corporate jobs; and traveled the world for twelve months visiting 6 continents and more than 25 countries. They buck the idea of traditional retirement that many of us have been sold, go to college, work hard, stay in the 9-5 corporate job for 30-40 years, finance everything and hopefully you can retire at 65. Not the case with Rob and Reshawn Lee, they forged their own path of what financial freedom would look like for their family. Now they're living their own definition of the American dream.It is not as difficult as some would believe, but it does require some planning, courage and discipline. Support Rob & Reshawn on social media:Instagram: https://www.instagram.com/learnhustlegrow/Rob Realty Website: https://www.robtxrealtor.com/Facebook: https://www.facebook.com/robleetxrealtor

This week's guest contributor is Donna Hartl an attorney and Certified Public Accountant. She focuses tax planning, tax dispute work, estate planning, guardianship, probate and trust administration. Donna has also been named an Illinois Super Lawyer, and is a member of the Leading Lawyers Network, having been named in July of 2019 as one of the Top-10 attorneys for personal tax in the State of Illinois.Donna is laying down the law regarding estate planning, what documents you need and why you don't take the do it yourself approach to planning for your legacy, there are just too many blindspots. 

This week's episode focuses on the emotional and holistic side of money...the stories we  tell ourselves about money. Stories are the messages we receive about money in childhood often from parents and reinforced in our social and cultural environments.  All these messages integrate to form thoughts, money stories and core beliefs that influence how we interact with money on a daily basis. Some of these beliefs are unconscious leading us to behave or react to money with little or no thought.Today's guest contributor shares how her childhood experience of watching her mother struggle with money impact the financial decisions she made in her life. In early adulthood she had accumulated $55k in debt, resolved to pay it off in 5 years, but actually paid it off in 3.5 years. It is a story of awareness, understanding how the past intersects with the present and potentially the future until we make a conscious decision to change. Kassandra Dasent is a holistic wealth advocate and a thought leader in the personal finance space, certified project manager (PMP/CSM), certified commercial credit analyst (GCC), and certified financial education instructor (CFEI).She is also an accomplished singer-songwriter and has performed as a solo artist and as a vocalist in festivals. She has been featured in numerous media outlets including Grammy.com, Forbes, US News & World Report, Business Insider, Fast Company, Yahoo! Finance and so many more.A twice immigrant, and fluent in French, Kassandra was born in Trinidad, West Indies, raised in Montreal, Canada. Talking to Kassandra was like sitting on the sofa with an old friend enjoying a cup of coffee. She is real, vulnerable, fun, engaging and insightful. I am sure you will enjoy her story as much as I did. To find out more about Kassandra and how to contact her Website: https://www.kassandradasent.com/work-with-me/Instagram: https://www.instagram.com/kassandradasent/

Health insurance is confusing and complicated with a language of its own...premiums, deductibles, co-pays, co-insurance, etc. If you are in the market for a policy, I suggest taking The Insurance People on that journey with you. In this week's podcast episode guest contributor Alexandra Eidenberg helps break down health insurance basics; selecting the best policy for your unique circumstances and why having a health insurance professional assist in the decision making can save you time and money. Alexandra Eidenberg is the Founder and President of The Insurance People, an insurance agency serving everyday families and businesses. Alexandra's speciality is health insurance. She spends her days coordinating individual health insurance and employee benefits for small businesses, helping them access the benefits they deserve.While helping people is something that Alexandra is passionate about. She is also a servant for her community. She founded WE WILL in 2013 to help women and children get involved in their communities and pass legislation. Alexandra also currently serves as the IL State Chair for Vote Mama, a political organization that identifies, cultivates and motivates women with young kids to get elected and stay elected.In addition, she is on the Executive Board of New Trier Democrats, is Co-Chair of Membership and on the Steering Committee with Invest to Elect Illinois and was Illinois Democratic Women, Woman of the Year 2020.Alexandra is a bubbly go getter who gives 100% every day. If you don't know her already, chances are you know someone who does.You can find Alexandra and her company online:https://www.insuranceppl.com/https://www.facebook.com/Insurancepeople/https://www.instagram.com/theinsuranceppl/

This week's podcast we are having a conversation about the $1.7 trillion gorilla in the room….called student loans. America is in a student loan crisis whether it is willing to admit it or not. Here are a few stats to help you understand the gravity of the situation: 43 million Americans owe a combined $1.7 trillion in student loan debt. 20 years after graduating from college half of the borrowers still over $20K in outstanding debt70% of graduates leave college with student loansIn 2005 the average student loan debt was $17K, as of April 2022, the Wall Street Journal states college graduates start their careers with an average of $36KThis is problematic because it not only impacts a borrower's ability to save and invest, but it is also a drain on the economy. America really does not manufacture anything anymore, instead relying on consumption for economic expansion. Having a significant portion of your salary allocated to student debt, means there is less money to purchase a home, spend on clothes, eat out with your friends and fully participate in the economy.Contributing guest: Ja'net AdamsThe contributing guest on this week's podcast is Ja'Net Adams. She is an international speaker, author and CEO of EMAC consulting. Shortly after graduating, she was $50,000 in debt, but made a commitment to pay it off and she did just that within two years. Now she takes the financial principles that she learned to teach others all over the world. As a professional motivational speaker, she speaks to universities, corporations, high schools, and not-for-profits about financial literacy. She has spoken on behalf of the White House, The Department of Education and has been featured in various media outlets including Forbes, BBC, CNBC, Huffington Post, Black Enterprise Magazine, Fox Business News, USA Today.Here is what we know about the student loan cancellation situation.Senators Richard Burr and Thom Tillis, have recently (May 2022) introduced a bill to prevent President Biden from forgiving any student loan debt, including exemptions for programs like the Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness. It is highly unlikely that President Biden will cancel $50k in student as requested by some Democrats. However, he is considering the legality of cancelling $10k for undergraduate loans for those with incomes less than $125k.Requirements to get closer to PSFL forgivenessI recommend anyone reading these show notes to go to the Department of Education's website for the most recent information on student loan forgiveness, the situation is very fluid and changing constantly. At the time of podcast recording (May 2022) these were the guidelines to qualify for PSFL forgiveness: Employed with the government, 501(c)(3) not-for-profit, or other not-for-profit organizationWorking full timePrevious years of student loan payments will now count towards forgiveness (must apply by October 31, 2022)Have Direct Student Loans (or consolidate other loans into Direct Loans)Make 120 qualifying paymentsFederal Student Aid: https://studentaid.gov/pslf/

Our homes are one of the largest wealth building assets the majority of us own. So, it makes sense that we would do all we could to protect it. But…sometimes, we don't know what we don't know. How do you know if you have adequate insurance coverage? During the pandemic families were spending more time at home so they upgraded their backyards, added decks and pools, made improvements to their basement and even started home-based businesses. Are these upgrades covered under your current insurance policy? What about the home-based business? We assume so, but you know what they say about assumptions

The FIRE Movement is a lifestyle that revolves around understanding what is really important to you about money. FIRE stands for financial independence retire early.It is a movement of living your life on your own terms rather getting swallowed up on the idea that purchasing more stuff is going to make you a happier person. The book mentioned in the podcast is Your Money Or Your Life by Vicki Robin & Joe Dominguez. 

Are you age 40+ with little or no retirement savings?  If so, this episode will provide you with some practical steps to help you get on track to retire ready.  Fidelity's rule of thumb for  how much you should have saved for retirement based upon your age is as follows: 3   X Salary  @ 40 years old 6   X Salary  @ 50 years old 8   X Salary  @ 60 years old10  X Salary @ 67 years oldDon't panic if your savings don't quite meet Fidelity's guidelines. There are a number of factors that can impact how much you should save for retirement, such as where you live or your retirement lifestyle.The bright side is you are in your prime earning years and with some "tweaks" to your finances you still have time to make a significant impact on your financial future.So Let's Get Started!

There's been some debate questioning the cost benefit of a four year degree because of the skyrocketing cost of college and the loan burden that this place on students and their families, it's becoming a generational anxiety.There is no doubt college costs are outpacing inflation and Middle Class Americans' wages. This episode focuses on education planning, specifically using the 529 Savings Plan. Now here's some things to consider when you're planning for education. What type of college do you want your child to be?  public institution or private institution, and some cases you can pay twice as much to attend a private institution than a public university. And then how do you feel about your child attending a community college to obtain their general education credits and then transferring those credits to a four-year institution. This could save you thousands of dollars over a two year period. So think about how much can you actually contribute on an annual basis to fund your child's education, prepare a spending plan to help you determine if you can fully fund their education, if that's what you desire, or perhaps you anticipate receiving some type of financial assistance and you plan to find maybe you're only 50% or maybe 30% of their education. Will, other family members be involved in paying for college as well, such as maybe grandparents or godparents. All of these factors will be important in determining how much you can contribute to your child's college education.