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Posted
Jul 18 2008, 05:35 AM
by
Karen Datko
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This post comes from Trent Hamm at partner blog The Simple Dollar. About a year ago, I wrote a lengthy article about how to start a filing system, including information about what kind of filing cabinet to buy and what sorts of things you should file. Near the end, I wrote one little paragraph that deserves to be looked at again in more detail: A master document explaining what all of this stuff is. This is mostly a guide to the executor of your estate, containing all important information not in the other documents and also explaining online account access and other details, like where a safety deposit box key can be found. This may also include personal letters for people to read in the event of your passing. Think about this scenario: If you dropped dead right after reading this article, would your survivors -- your kids, your spouse, your family -- have any idea how to access your money? Would they even know where all of your accounts are?
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Posted
Dec 27 2007, 08:27 AM
by
Karen Datko
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This post comes from Nora Dunn at partner blog Wise Bread. The days of employer/employee loyalty are long gone. No longer do people finish school and work their entire career at the same company, retiring with full pension and benefits for life. In fact, the average person will change not only employers but also careers multiple times before reaching age 50. Combine that information with layoffs and downsizing on the employer side, and "tenure" is a thing of the past. As a competent and dedicated employee, you can use this to your advantage. If you are doing a good job, your employer will want to keep you. And to do so, your company knows it might need to entice you to stay if your skills are marketable and you are in demand.
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Posted
Dec 05 2007, 06:37 AM
by
Karen Datko
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This post comes from partner blog The Dough Roller. I hate budgeting. I've tried using envelopes, Quicken and fancy spreadsheets, and the results are always the same. I start off strong, but within a few weeks I lose interest in the time-consuming chore that budgeting can be. The problem is that I still need to manage my money. I confronted this problem about a year ago, and asked myself the following question: How do I effectively manage my money in as little time and with as little pain as possible? To answer that question, I came up with a money-management plan that doesn’t require me to track all of my expenses all the time, and requires a relatively small investment of my time each month. In this post, I’ll share my plan with you.
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Posted
Nov 02 2007, 09:10 AM
by
Karen Datko
Many employers are holding open enrollment in health-insurance plans, so it's time to think about your options as the cost of insurance continues to rise . The Sun's Financial Diary , in two excellent and comprehensive posts, explores switching to a high-deductible plan partnered with a health savings account . If your employer doesn't yet offer this combination, and you're unhappy with the available plans, you can pursue it on your own . Sun notes that an HSA allows you to invest pretax money to build savings for future health care and, eventually, retirement spending, but you must be enrolled in a high-deductible plan to start one. (We'll add that for people who don't have health insurance , the lower premiums of a high-deductible plan might put the cost of health insurance within their reach.)
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Posted
Sep 26 2007, 08:38 AM
by
Karen Datko
Rating:
This post comes from partner blog Five Cent Nickel. Have you ever heard of "longevity insurance”? In short, longevity insurance is a relatively new form of insurance that provides you with a guaranteed stream of income later in life, typically starting after you turn 85. To get longevity insurance, you have to make a substantial up-front payment 20 or so years earlier. Longevity insurance is really just a repackaged deferred annuity that's targeted for retirement-age individuals concerned about whether they'll outlive their savings. There are differences.
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