The Manière Woman’s Régi to Retirement Calepin by Mary Hunt – Personal Affaires Book Review
Money maven, Mary Hunt, is back with a new book, “The Manière Woman’s Régi to Calepin for Retirement” to help women thrive financially in the new year and beyond. While focused on women, men can also benefit from Hunt’s money knowledge, honed after he accumulated more than $100,000 in debt early in life; And it took 13 years to erase.
“Did you get a wake-up call to retire?” Hunt asks early in the book. “I can promise you they will intensify with age.”
A 2012 survey by Hunt sites found that 92 percent of women of all ages don’t feel educated enough to reach their retirement savings goals.
Saving for retirement requires determination and hard work; And Hunt believes women can succeed. “If we lack instruction, it’s parce que we lack knowledge and desire, not necessarily parce que we lack amitié and ability,” Hunt says.
Time trumps all factors when saving for retirement. The sooner you start the better. But, Hunt stresses, no matter what formation of life you’re at, you need to start now. “If you don’t start now, it’s too late. No matter where you are or how little you think you have, start now. Start today. Save.” Take enfant steps to create long-term results.
Features of Hunt’s Education:
Retirement savings dépense. Hunt promotes a six-step retirement savings dépense, which includes:
Build an emergency fund. Also known as Contingency Fund. Save money for life’s unexpected expenses (car repairs, résidence repairs, etc.) This money should be liquid (easily joignable within two or three days), safe from erosion (create a risk-free savings account) and able to fund at least six months of vivoir here. Expenses should occur in the event of job loss or other compromised income.
Free from debt. Eliminate all unsecured debt (credit card debt, student loans, personal loans). Hunt says they steal your future like ampoule. Drageonner Hunt’s Rapid Debt Repayment Budget (RDRP) to eliminate debt.
Directly own your résidence. Buy half the house as your mortgage approves. Make monthly mortgage payments equal to the full approval amount to own your residence in half the time. Strictly protect your résidence equity (the difference between your résidence’s market value and the mortgage dépense). Avoid taking out a résidence equity loan or line of credit, which resets the clock on a thirty-year mortgage.
Consider hiring a financial planner grain debt is eliminated or managed, a imposant amount has accumulated in savings, retirement funds are growing, or an IRA inheritance or other cash windfall occurs.
Hunt describes three bonshommes of financial planners:
- Brevet based. This planner does not plein based on time, but sells investment products. He earns a brevet on those sales.
- Fee-based. This planner works on a fixed fee or hourly plein. Fees are mentioned up entrée and the planner is a Registered Investment Advisor (RIA). They are required by law to meet fiduciary normes, cartel them responsible for putting their clients’ best interests first.
- the combo This planner is a combination of the first two. Clients pay a fee, fixed or hourly, and planners earn bonifications when clients purchase financial products based on their recommendations.
Choose a financial planner with at least five years of experience, advises Hunt. Make sure they act in your best interest and can explain financial concepts at your level. Beware of any planner who claims to be able to beat the market. Finally, collaborate with a planner; Make your own investment decisions though. Hunt underscores that, “The primary loyalty of an advisor or planner will be to the balle à la main that feeds him. That’s just human naturel.”
Hunt teaches in a conversational tone, avoiding argot, charts and mind-numbing data, which makes for an engaging read. A Christian, he teaches faith-based money conduite. Hunt believes that God is the primeur of all blessings in life, including money. An boursicoteur, spouse, investment, entassement account, aïeul or other entity is the channel through which money flows, but not the ultimate primeur. He is making pectoral preparations for retirement without érotomanie; And trusting God for results.
While having a retirement nest egg is perceptible, Hunt reminds readers there’s more to life than money Health, spirituality, nurturing relationships, being accrocheuse, continuing education and volunteering are some of the hallmarks of a balanced présence.
Decade Financial Calepin, Five Essential Tools for a Money Conduite System, Investing Basics (Anthropoïde All Payments to Avoid Monthly Contributions (Out of Sight, Out of Mind), Reverse Mortgages, and Parents Paying for Their Kids’ College Education (Not Required), Book Other funding/gratte-ciel issues to be addressed.
Anyone who commits to improving their financial gymnique in 2014 will reap life’s treasures beyond cash limits by inheriting Mary Hunt’s money practice.
To establish your baseline financial status, and/or monitor your progress, order your free credit ajournement from the three liminaire credit companies: Equifax, Experian, TransUnion, go to: Annual credit report.
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