If you’re cruising into your golden years, chances are you’ve spent a fair amount of time dreaming about all the leisure and zero time fantasizing about healthcare costs. Unfortunately, it’s something that you’re better off tackling sooner rather than later. Luckily for you, we’ve got nine ways to help you create a solid plan to manage these healthcare costs!
1. Practice Preventive Care Like It’s Your New Hobby
Getting regular check-ups, screenings, and vaccinations can seem like a chore, but it’s like oiling the engine of your car – it keeps you running smoothly and avoids costly breakdowns down the road. Don’t skip that annual physical! It’s less about poking and prodding and more about keeping you in tip-top shape for your next adventure.
2. Know Your Medicare Inside and Out
Medicare paperwork can feel like trying to learn a new language late in life. However, understanding the ins and outs of your Medicare coverage can be the difference between thinking you’re covered for that injury and getting a bill that makes you want to leave the country. Take the time to understand your plan options, what’s covered, and what’s not.
3. Shop Around for Supplemental Insurance
Supplemental insurance fills in the gaps Medicare leaves wide open, like covering co-pays or international travel emergencies. Don’t just grab the first policy that comes your way. Explore your options with supplemental insurance and make sure you’re getting the best deal that meets your needs before saying yes.
4. Get Prescription Savvy
The world of prescription drugs can be pretty confusing, but getting smart about your medications can save you a bundle. Look into generic options or pharmaceutical assistance programs for reduced costs. Some stores even offer popular medications for free or at a reduced cost, so it’s worth checking them out.
5. Stash Some Cash in a Health Savings Account (HSA)
If you’ve got a Health Savings Account, keep feeding that piggy bank before you retire. When retirement rolls around, you’ll have a stash of cash ready to cover everything from acupuncture to zebra bites (should you get surprisingly adventurous). Remember, an HSA is more than just savings – it’s your secret way of fighting unexpected health costs.
6. Stick to a Lifestyle of Activity and Nutrition
Maintaining an active lifestyle, along with a balanced diet, is a great way to protect yourself from rising healthcare expenses. Your body thrives on quality nutrition and regular exercise! Imagine having enough strength and energy to amaze even the youngest gym enthusiasts well into your later years. If that doesn’t convince you, we don’t know what will!
7. Tap Into the Convenience of Telehealth
Telehealth services have completely changed the way we access medical advice. They allow for consultations with healthcare professionals from the comfort of our homes. It’s a complete game-changer because it can save you time and reduce the inconvenience of traditional doctor visits. Plus, you don’t need to change out of your sweats!
8. Invest in Long-term Care Insurance
Exploring your long-term care insurance might not sound exhilarating, yet it’s very important to safeguard your financial future against the expenses of extended care. Sure, it can be a hefty upfront cost. However, getting such insurance will help you secure a safety net for both yourself and your loved ones for the years ahead.
9. Explore the Opportunity of Participating in Clinical Trials
You could also try participating in clinical trials. They might make you feel a little uncomfortable, but they’re a great way to help with medical advancements while possibly giving you free healthcare services. This option opens doors to state-of-the-art treatments without impacting your finances. However, you should definitely check out the potential risks and rewards before getting involved.
Planning Ahead
In the end, managing healthcare costs in retirement might not be the first thing on your bucket list, but with a bit of strategy, it doesn’t have to be a dreaded affair. Take these tips to heart and keep living your retirement years with gusto. After all, retirement is supposed to be about enjoying life’s next chapter – not worrying over healthcare costs.
Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
It’s a fact – dealing with financial issues with your significant other is difficult. After all, managing money in a relationship isn’t just about ensuring the bills are paid on time – you want to create a shared vision of the future that’s both prosperous and fulfilling. So, let’s take a look at 15 financial principles for building a lasting relationship.
1. Transparency Triumphs
Imagine playing a game of Monopoly where you secretly keep Boardwalk. Sounds unfair, right? Well, keeping financial secrets in a relationship is pretty much the same deal. Being open about income and spending habits will help to create trust and teamwork. And that includes talking about debt, too!
2. A Love Story
Budgeting together requires compromise, but at the end of the day, you’ll both be happy. Creating a joint budget means agreeing with each others’ priorities, whether that’s saving for a dream vacation or splurging on gourmet coffee beans. Try to find some common ground when deciding how to spend.
3. Your Relationship’s Lifeboat
Just like keeping a spare tire in the trunk, having an emergency fund is crucial. This financial cushion can turn a crisis into a manageable hiccup, preventing it from escalating into a full-blown drama. Think of it as your relationship’s safety net, ready to catch you with open arms.
4. Invest in Your Future Together
Forget Wall Street – investing is for lovebirds looking to build a nest egg. Whether it’s stocks, bonds, or real estate, think of each investment as a seed you plant together, dreaming of the shade it will one day give you both. It’s your future forest of financial freedom, so water it and let it grow!
5. The Relationship Buzzkill
Tackling debt together is a sign of a good relationship. It doesn’t matter if you snowball payments or consolidate them – working on debt together will bring you closer. Consider each victory over debt a high-five moment, where you both can celebrate the glory of financial teamwork, making your bond unbreakable and your financial path clearer.
6. Not Your Average Date Night
Schedule regular finance-focused date nights. No, it’s not about whispering sweet nothings about mutual funds into each other’s ears! Check in on your financial health and set goals for your finances. Throw in some candlelight and your favorite takeout, and you’ve got yourselves a meeting that will spice up your love life and secure your financial future!
7. Understanding Each Other’s Money Mindsets
We all have our financial fingerprints created by our upbringing and experiences. Understanding your partner’s perspective on money can avoid many arguments. Listen to those childhood tales of lemonade stands or piggy banks to truly understand why your significant other views money the way they do.
8. Generosity Within Reason
Being generous is wonderful, but not at the cost of your financial health – you need to balance heartwarming gifts with practicality. Instead of splurging on extravagant gifts, try to create homemade presents or plan experiences that create lasting memories. After all, the most valuable gifts come from the heart, not the wallet.
9. Shared Goals, Shared Joy
Setting financial goals together is like planning a road trip. It’s exciting to map out where you want to go, from buying a home to retiring comfortably. Picture yourselves as explorers charting a course to treasure islands of your own making, where each milestone is a gem that adds a little sparkle to your collective dreams.
10. The Art of Compromise
Just as in any aspect of a relationship, compromise is key when it comes to finances. You need to meet halfway on every sure. Sure, it might be difficult and sometimes downright frustrating, but it’s all part of finding your rhythm and creating a financial melody that sings to both your hearts.
11. Financial Independence, Together
Encouraging each other to maintain individual financial independence will help both of you feel secure and empowered. This dual approach creates a sense of personal achievement and confidence while allowing you both to enjoy the thrill of the joint journey. You’re teammates, not competitors.
12. Respecting Each Other’s Financial Contributions
No matter if one of you is the breadwinner or contributions are evenly split, recognizing and valuing each other’s financial input is important. You should acknowledge that every contribution, big or small, is a piece of your shared life puzzle. Celebrate every single one of them together!
13. Adapting to Financial Changes
Life is full of surprises, and your financial journey will be no exception. Whether it’s a sudden job loss or an unexpected inheritance, being flexible and supportive can turn challenges into opportunities for growth. You need to keep a steady hand on things together so that you can reach calmer seas.
14. The Beauty of a Financial Plan
Having a financial plan is an absolute must. It outlines where you want to go and sets the steps to get there, whether that’s saving for retirement or planning for your children’s education. Nobody else can write your script but you, so work your loved one to create one that works for you both.
15. Celebrating Financial Milestones
Don’t forget to celebrate your financial achievements, big or small. It doesn’t matter if you’re paying off a credit card or reaching a savings goal – these are the moments that reinforce your teamwork and dedication. These achievements show how well you’ve worked together, so make sure to celebrate them!
Working Together
Managing finances within a relationship requires harmony, communication, and a bit of improvisation. If you follow these 15 principles, your financial journey will become a smooth highway paved with trust and love. Remember, at the heart of every financial decision is a partnership formed by a strong commitment to each other’s happiness and well-being.
Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
The 1960s – a time of bell bottoms, flower power, and moon landings. But beyond the iconic trends, it was a period full of events that shaped history, and we continue to feel the consequences of today. Grab your lava lamp as we look at 20 unforgettable 1960s events that changed history!
1. The Civil Rights Movement Marches On
The fight for racial equality in America became very important throughout the 1960s. Martin Luther King Jr.’s powerful speeches, like the iconic “I Have a Dream” address at the March on Washington, and peaceful protests, like the Selma to Montgomery marches, challenged segregation and discrimination. This helped dismantle Jim Crow laws and pave the way for the Civil Rights Act of 1964 and the Voting Rights Act of 1965.
2. The Berlin Wall Is Constructed
In 1961, the communist government of East Germany created a wall dividing Berlin, effectively turning a bustling city into two separate worlds. Families were torn apart overnight, and the wall became a chilling symbol of the Cold War. News broadcasts showed East Germans desperately trying to escape over the wall, showing just how divided Europe had become.
3. The Twist Goes Global
Chubby Checker’s dance craze, the Twist, took the world by storm in the early 1960s. Forget complicated routines – the Twist was all about shaking those hips and having fun! Dance crazes weren’t new, but the Twist went beyond age and cultural barriers. From American teenagers to Japanese office workers, everyone was doing the Twist!
4. Beatlemania Erupts
The Fab Four’s arrival in America in 1964 sent teenagers into a frenzy. Their catchy tunes, like “I Want to Hold Your Hand” and “She Loves You,” topped the charts, and their mop-top haircuts and undeniable charm began the era of crazed fans. Beatlemania launched a British invasion and forever changed the music industry.
5. The Summer of Love Blooms
In 1967, San Francisco’s Haight-Ashbury district became the center of a counterculture movement focused on peace, love, and psychedelics. The “Summer of Love,” with its flower power symbolism, was a rejection of social norms. Although this experiment was short-lived, it left a lasting impact on fashion and social consciousness.
6. The Vietnam War Escalates
The U.S. became more involved in the Vietnam War during the 1960s. Troop deployments skyrocketed, with the number of American soldiers in Vietnam reaching over half a million by 1968. Newsreels filled with images of fierce fighting and growing casualties led to growing public unhappiness with the war.
7. The Equal Pay Act is Signed
In 1963, President Kennedy signed the Equal Pay Act, which prohibited wage discrimination based on gender. Naturally, it was a major victory in the fight for women’s equality. The Equal Pay Act helped to close the gender pay gap and helped to kickstart further advancements in women’s rights.
8. The Assassination of JFK
John F. Kennedy’s assassination in 1963 sent shockwaves around the world. The young, charismatic president’s death on live television left a nation reeling while conspiracy theories swirled. His assassination symbolized the end of an era of optimism and began a period of uncertainty and national grief.
9. The Mod Movement Takes Off
London’s mod subculture, known for its sharp suits and scooters, began in the mid-1960s. The mods rejected the traditional styles of their parents’ generation, embracing clean lines, geometric patterns, and bold colors. Like Beatlemania, this signature look soon took over the world.
10. The Stonewall Riots Ignite Change
A police raid on a gay bar in New York City’s Greenwich Village in 1969 began the Stonewall Riots, which was very important in the fight for LGBTQ+ rights. The Stonewall Riots led to the creation of gay rights organizations and a rise in activism, eventually shaping today’s more inclusive and accepting society.
11. Apollo 11 Makes Giant Leaps
In 1969, the world watched as Neil Armstrong took “one small step for man, one giant leap for mankind” on the lunar surface. This monumental achievement in human space exploration helped start our journey into the stars. When Neil said it was a “giant leap for mankind,” he wasn’t lying!
12. Woodstock Music Festival Rocks On
The 1969 Woodstock Music Festival was three days of peace, love, and music. Renowned artists like Jimi Hendrix and Janis Joplin performed for hundreds of thousands of counterculturists. While the festival aimed for 200,000 attendees, an estimated half a million music lovers showed up, creating an unforgettable music experience.
13. The Mini Skirt Makes a Big Splash
Mary Quant’s trendy miniskirt became a fashion sensation in the mid-1960s. This daring piece of clothing challenged traditional ideas of femininity and began a fashion revolution. Yes, miniskirts showed more leg, but they were also a symbol of youthful rebellion and a break from the restrictive styles of the past.
14. The Barbie Doll Gets a Career
In 1963, Mattel introduced “Career Barbie,” a new version of the popular doll dressed in a doctor’s uniform. This edition challenged traditional gender stereotypes and encouraged young girls to dream big. Whether it was Doctor Barbie, Astronaut Barbie, or Firefighter Barbie, these dolls showed young girls they could be anything they wanted to be.
15. The Environmental Movement Takes Root
Rachel Carson’s groundbreaking book Silent Spring, published in 1962, raised awareness of the dangers of pesticides and began the modern environmental movement. This book inspired a generation to support a cleaner planet. Soon enough, “Silent Spring” was a wake-up call to the dangers of unchecked pollution.
16. The Peace Corps Promotes Global Change
Created in 1961 by President Kennedy, the Peace Corps sent volunteers abroad to work on development projects. Peace Corps volunteers lived alongside other people, learning new languages and breaking down barriers. However, they also had to deal with language barriers and unfamiliar customs, along with some conflict from the locals.
17. The Muhammad Ali KO Heard Around the World
Boxing legend Muhammad Ali’s stunning knockout victory over Sonny Liston in 1964 made it clear that he was the world’s heavyweight champion. Ali’s lightning-fast “phantom punch” left Liston sprawled on the canvas in the first round, shocking the boxing world. Ali was also a charismatic and outspoken figure who became a symbol of social justice.
18. The Super Bowl Debuts
The first-ever Super Bowl, held in 1967, pitted the Green Bay Packers against the Kansas City Chiefs. This historic game marked the beginning of America’s obsession with professional football. While the game itself was a close one (the Packers won 35-10), the real star of the show was the halftime entertainment – a marching band!
19. The Computer Revolution Begins
The development of the IBM System/360 in 1964 was a significant step forward in computer technology. It wasn’t exactly a sleek desktop computer! But this machine’s ability to handle a wide range of tasks laid the groundwork for the development of smaller, more user-friendly computers that would eventually change the world.
20. The Rise of Drive-In Movie Theaters
The 1960s saw the golden age of drive-in movie theaters. These open-air cinemas were a unique and affordable way to catch the latest films from the comfort of your own car. Soon enough, they became popular hangout spots for teenagers, offering a social experience alongside the movie. They were also family-friendly destinations, with playgrounds and concession stands keeping everyone entertained.
Historical Moments
So there you have it – 20 unforgettable moments that defined the groovy and history-changing 1960s! From the fight for civil rights to the birth of the computer revolution, this decade was a time of complete transformation. Even today, we can still feel the effects of many of the events as they shape our world in countless ways.
Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
Dealing with personal finances can be frustrating. But what if we told you that kicking debt to the curb and building your wealth could actually be fun? That’s right, folks! Gather ’round as we look at 18 smart strategies to pay off debt and build your wealth.
1. Share Your Space
Why not try renting out unused space in your home? Storage space, an extra room, or even your driveway can be goldmines in today’s sharing economy. There are plenty of websites out there that match space-seekers with space-offerers, and the income can help reduce your debt faster than you might realize!
2. Peer-to-Peer Lending
Lend a hand and a dollar to others while pocketing some interest for yourself. There are quite a few platforms out there that connect lenders with borrowers, so you can earn returns as your peers repay you with interest. Just imagine yourself as being like the bank, just without the marble floors or the stuffy suits.
3. Your New Best Friend
Forget Netflix and chill – library and thrill is where it’s at! If you go to the library, you can get books, movies, and sometimes even streaming services for free! This switch can save you a pretty penny on entertainment expenses. You can use those savings to pay off your debt instead!
4. High-Yield Savings Account
In the world of investment, sometimes, the tortoise beats the hare. Placing your funds in a high-yield savings account means earning more interest than your standard bank offers. It’s a slow cooker method to wealth building – set it, forget it, and let it gradually build its way to financial growth.
5. Use Cashback Rewards
Use cashback rewards cards to make your spending work for you. Cashback rewards can turn everyday purchases into a small but steady stream of passive income. This way, you get a reward for spending on necessities or the occasional splurge. Just make sure you stick to what you usually buy!
6. Affiliate Marketing
Do you have a good social media presence or just a lot of friends? You can earn commissions by promoting products or services you believe in. You can use your influence for income, turning recommendations into revenue, as there are plenty of companies out there willing to pay for a bit of promotion.
7. Stock Photography
If you’re the shutterbug of the family, then you should try selling your photos as stock images online. It’s an easy way to turn a hobby into a source of passive income – your gallery is a goldmine! Just remember, the more unique and high-quality your photos are, the more they’ll stand out.
8. Write and Sell an eBook
Share your expertise or stories in an eBook. Sure, it’s difficult, but it’s not impossible! Your book could be the next big hit in niche markets, which will give you royalties for years to come. And the beauty of eBooks is the set-it-and-forget-it nature – write once, sell forever. It’s the perfect passive income!
9. Design and Sell T-Shirts
Combine your witty sayings or artistic skills with a bit of entrepreneurship by designing and selling T-shirts. Platforms like Teespring or Redbubble make it easy to put your designs out there without the need for upfront investment in inventory. This is your chance to wear your heart on your sleeve – literally -and make some money while you’re at it.
10. The Great Outdoors as Your Gym
Forget pricey gym memberships – Mother Nature can give you a free gym membership with a view. Hiking or just walking in the great outdoors will improve your health and also your pocketbook, so you’re killing two birds with one stone! And as an added bonus, no gym wall can beat these beautiful views.
11. Turn Clutter into Cash
That attic filled with ’70s relics? It’s not a time capsule – it’s a treasure trove. Online marketplaces are filled with collectors and enthusiasts who might view your “junk” as a rare find. Selling these items can help you reduce your debt and declutter your living space – imagine turning that lava lamp into cold, hard cash.
12. Go Green, Save Green
Energy-efficient appliances or improvements to your home can seem pricey upfront, but think of it as planting a money tree. Reduced utility bills mean more money to reduce your debt. And let’s not forget the potential tax incentives for making your home more energy-efficient. It’s like the government is paying you to save money!
13. The Art of Bartering
Why spend when you can trade? Offer your skills or goods in exchange for something you need to avoid the need for cash, keeping your wallet fat and happy. For example, you could swap gardening skills for haircuts or carpentry work for dental services. The possibilities are endless, and the economic thrill? Unbeatable!
14. Become a Plant Whisperer
Starting a vegetable garden might seem strange, but it’s a solid gold strategy for cutting grocery bills. Plus, there’s nothing quite like the taste of victory (or tomatoes) that you’ve grown yourself. If you get really good at it, you could even start your own farm stand. Talk about fresh and profitable!
15. The Spy Who Saved Me Money
Believe it or not, you can get paid to shop – mystery shopping gigs cover your expenses and pay a little on top. It’s a way to do some retail therapy without the guilt because you’re actually being smart! Just imagine being the secret agent of the shopping world, where your missions are actually padding your bank account rather than draining it.
16. Health is Wealth
Investing in your health can actually save you a fortune in medical expenses down the line. Whether it’s exercising, dieting, or even preventative care, it’s all a deposit into your health savings account, reducing future withdrawals (of both the financial and physical kind). Also, being fit and healthy means you can enjoy your riches for longer!
17. Refinance Your Ride
Everyone knows about refinancing your mortgage, but did you know you can also refinance your car loan? If interest rates have dropped since you secured your original loan, refinancing could reduce your monthly payments and total interest paid, freeing up more money for debt repayment. It’s simpler and more painless than you might think.
18. The Gift of Gab
Prices aren’t always set in stone. Whether it’s cable bills or medical expenses, a polite conversation can help you reduce your debt or create payment plans. The worst they can say is no, but when they say yes, you’ll feel great! You can turn potential expenses into savings or manageable amounts.
Stay Positive
Remember, the path to financial freedom doesn’t have to be boring. With a little creativity and some diligence, you can make managing money into something, dare we say, fun! These 18 clever strategies will be your way to financial freedom – here’s to laughing all the way to the bank!
Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
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