Building Wealth

When Is It Time to Cut Your Kids Off From Your Finances?

Deciding when to let your children stand on their own can be tough, especially when they’re contending with student loans, underpaying jobs, or sky-high rents. But easing your kid’s entry into adulthood could be undermining your own financial security.

According to a December survey from CreditCards.com, three-quarters of parents are providing financial support for their adult kids.

But at a time when the majority of Americans haven’t socked away nearly enough for retirement—the median retirement savings for all working families in the US is just $5,000, according to the Economic Policy Institute—it makes sense to do a little less for our offspring, so we can think a little more about ourselves.

So, how do you figure out when and how to cut your kids off financially?  Learn more below. 

Don't bother wondering why your friends seem to have nicer homes, cars, and vacations — there's only one measurement that matters

Basing your spending off how your friends spend their money is a huge mistake to make.  Large spenders may also be building crippling debt.  

You won't find a real answer to how you're doing in a Federal Reserve survey or a social media feed.  You will find it by measuring yourself against rules of thumb, refined over decades and endorsed by financial pros  that point the way toward true financial health. 

Start with these:

9 Ways to Build Wealth in Your 50s

Midlife is filled with challenges and opportunities. Yes, you might be in the thick of paying for college, but soon all those other costs that come with kids should be behind you—or so you hope. You're also likely in your peak earning years and when you're making the most is also when you should squirrel away the most.

Some 40% of successful savers—those who built nest eggs equivalent to 10 times pay—did so by saving 15% or more of their incomes for at least 10 years.  Here's how...

How much money you need to save each day to become a millionaire by age 65

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

If you want to get rich, start investing- and start as early as you possibly can.  

To illustrate the simplicity of building wealth over time, Bach created a chart detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you're 65.   

Next time you consider running to Starbucks for a $4 latte, think about this chart and consider redirecting that coffee cash to your savings.  Check it out. 

The Big Lesson From 2016 for Your Retirement Planning

Here's what you should take away from the year that included Brexit and Trump's election.

When it comes to takeaways that can improve your retirement planning and investing, I think there’s one big lesson we should all draw from 2016.

The 10 Best Stocks of 2016

Stocks have shot higher in the final weeks of the year, with major indexes breaking new records day after day and the Dow grasping for 20,000. The S&P 500 is on track to return 11% this year.

Trump's victory has helped several sectors rack up.

Click below for the ten biggest winners in the S&P 500, based on total return.

Tony Robbins’ 10 Tips for Living Rich

If you want to be happy, but you’re having a tough time in life due to personal or financial issues, it’s important to take whatever steps possible — even small ones — to progress and grow.

This best-selling author’s advice has been featured prominently in magazines, digital media and in national televised media. He travels all over the country every month for events to inspire people in their lives and in business. 

Click the link below for some of Tony's top pieces of advice on how to change your mindset in ways that can have a positive impact on your life and your finances.

6 Surprising Money Habits of Millionaires

Most millionaires aren’t driving Lamborghinis and eating caviar. They’re driving reliable used cars and eating mashed potatoes and meatloaf. Millionaires aren’t wealthy because they’re lucky. They’re wealthy because they follow simple money habits year after year. Click below to learn more about Dave Ramsey's 6 Surprising Habits of Millionaires.  

Worried about the Stock Market? Smart investors do these 3 things-

Stocks are off to to their worst start to a year ever.  It's human nature to look at this massive wave of selling and panic.  But what's going on in the markets right now is not a repeat of the 2008 financial crisis and Great Recession.  

The market rewards optimists -- and pragmatists.  Intelligent (long-term) investors tend to do three things when markets sour:

To learn more click link below.  

What Fantasy Football Can Teach You About Investing

If you’re like me, you recently drafted players for your Fantasy Football team. As you sat online with thousands of other fans and fanatics scattered nationwide, chatting about and nabbing the best running backs, quarterback and kickers for your imaginary team, you may feel you learn little about investing. Wrong call.           

Fantasy Football is a billion dollar business that has more to do with investing than you might think.  The thought process involved with picking and managing your team can be similar to investing in your 401(k).                          

Here are mistakes to avoid on the make-believe gridiron and in our very real stock market.

How Cars Affect Your Financial Freedom

It’s not that I don’t want a really fancy car, it is just that there is something I want a bit more: financial freedom.  Car payments are many times the #1 obstacle that causes the average family not to achieve financial stability. Spend some time thinking about your current car situation.  Are your car purchases making your bank richer or you? 

Below is a great read about "How Your Car Affects Your Financial Freedom."

The Boring Secret to Getting Rich

Many people dream of becoming rich but don't have any idea how to make it happen. There's no magic formula, but there are many steps you can take to gain an advantage.  The secret to getting rich is simply doing what most people can't.

Click below to learn Money Magazine's boring secret to getting rich.  

How to keep this crazy stock market from driving you nuts!

How do I stop the market from making me crazy?

The current market is a reminder that days sometimes feel long, while years pass quickly. Don’t confuse that feeling and make long-term moves based on what’s happening on any given day. That’s how years pass and you wind up short of your goals, when the odds were in your favor that staying the course would have paid off.

Read more by clicking on link below. 

The Best Revenge on an Ex-Husband: Building Wealth!

With the help of a financial advisor, a divorcée bounces back.  Her advisor told her that the best way to get back at her ex-husband was to become extremely successful.  He was right.

Read full story below.