Tag Archives: health care

7 Money Must-Haves for 2016

Budgeting, Goals, Income Creation, Retirement & Estate Planning, Risk Protection, Saving, , , , , , , , , ,

As we usher in the year 2016 with an optimistic outlook for a bright future, we must have a
decisive game plan to create a more prosperous New Year. Instead of just rehashing wishful resolutions from past years, make a concerted effort to attain these specific financial objectives:

1. A S.M.A.R.T. goal

It’s been said that ‘a promise is a comfort to a fool’; and some people believe that resolutions are foolish wishes that bring cold comfort. Your dreams may seem impossible to achieve if you don’t convert your ideas into specific, measurable, actionable, relevant and time-based goals.

Select one dream that would make the biggest difference in your life. Write it down precisely, expressing how you would measure it, take action on it and know when it was complete. Consider all the steps you need to take every day to realise your goal and persevere until you accomplish it. Continue reading 7 Money Must-Haves for 2016 →

Good Health, Great Wealth

Risk Protection, , , , , , , ,

For a few years now, I have been neglecting my health, mainly because I have been working hard to solve my financial problems. This has caused health problems such as fatigue, sleep deprivation and weight gain. How can I achieve financial stability without jeopardising my health? — Reader

In today’s fast-paced society, many of us are faced with the challenge of balancing work, home, school and service responsibilities. Trying to complete all these conflicting tasks can lead some people to over-schedule themselves and ignore the need for rest and relaxation in their daily agendas.

If you are going at a frenetic pace to make ends meet, generate extra funds to pay off debt or save for an important goal, then you may readily find excuses for working too hard. However, if your mantra is ‘no pain – no gain’, you might actually be harming your health and weakening your wealth.

Financial success is not just about having more than enough money to cover your needs and achieve your goals; good health is an integral component of your overall wealth. In fact, your mental, physical and emotional well-being all impact your ability to attain financial wellness. Continue reading Good Health, Great Wealth →

Financial Help for Elderly Parents

Retirement & Estate Planning, , , , , , ,

Last week we examined some of the considerations that adult children may have to face when dealing with parents who have financial difficulties. Assisting your parents with their money needs when they are unable to cope requires a lot of patience and diplomacy, as well as financial astuteness.

Even if your parents have been excellent stewards of money throughout their lifetime, as they get older, you may need to become more involved in helping them with their finances. Let’s look at some of the areas in which your elderly parents may require your support in their retirement years.

Budgeting for spending

At every stage of your financial life cycle, it’s important to know exactly how much money is required to pay all your bills. Budgeting helps you to be aware of your expected expenses and earnings; and this habit becomes even more critical for persons who are retired or have to live on fixed income sources. Continue reading Financial Help for Elderly Parents →

Making Ends Meet in Retirement

Retirement & Estate Planning, , , ,

“I retired from teaching five years ago and I’m finding it very hard to make ends meet. I have a fixed pension and it seems that every month my expenses increase. Do you have any advice on how to make my retirement money stretch more?”

These are financially challenging times for all consumers, especially retired persons. We’re constantly searching for creative ways to spend less, but sometimes it seems that the cost of living demands more of our hard-earned dollars every day.

For retirees on fixed pensions, it can be frightening to see your nest eggs dwindling. Many additional health concerns may also be brought on by the stress of wondering if you’ll outlive your money. Continue reading Making Ends Meet in Retirement →