Financial Wellness

The Consumer Financial Protection Bureau defines financial wellness as, “having financial security and financial freedom of choice, in the present and in the future.”

Financial wellness means that you: 1) have control over your day-to-day, month-to-month finances, 2) have the capacity to absorb a financial shock, 3) are on track to meet financial goals, and 4) have the financial freedom to make choices that allow you to enjoy life.

Financial wellness results in: confidence, contentment, a sense of security, control, and purpose, and even happiness. And, there are numerous ways to improve financial wellness.

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foolish financial decisions

The 22 Most Foolish Financial Decisions Ever Made

Recently online, individual NewRetirement subscribers were discussing the most foolish financial decisions they had ever made. The conversations were interesting in that many highlighted a few bits of “wisdom” about being “foolish.” Foolishness Can Be a Great Learning Tool Making foolish decisions can be one of the greatest learning tools. “A wise man can learn…

March 11, 2021
average retirement savings

How Much Should I Save for Retirement? Average Retirement Savings Rates for Every Age

Keeping your retirement savings on track helps you meet your retirement goals. That seems like a very simple concept, and in a way it is. But living with that plan every day isn’t quite so simple. Knowing how much one should save for retirement is useful — it can motivate you to take action. And…

January 21, 2021

Bad News that Will Be Really Good Economic News in Today’s Topsy Turvy Times

As you look for signs of recovery from the economic turmoil of the pandemic, you’ll want to keep your eye on a few economic indicators that are usually seen as bad news. Why? Well, because in the topsy turvy world we live in today, bad news may actually be good news. Rising Unemployment Rising unemployment…

January 12, 2021

Podcast: Ashley Whillans — Time Smart

Episode 49 of the NewRetirement podcast is an interview with Ashley Whillans — assistant professor at Harvard Business School and author of Time Smart: How to Reclaim Your Time and Live a Happier Life — and discusses how to think about and value your scarcest resource, your time. Listen Now: Don’t miss out on future…

November 19, 2020

Podcast: JL Collins — The Simple Path to Wealth

Episode 48 of the NewRetirement podcast is an interview with JL Collins — a best-selling author and financial independence guru — and discusses the what, why, and how of Financial Independence as well as Collins’ book, “The Simple Path to Wealth”. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher…

October 15, 2020

Big Wealth-Building Lessons From the 5 Most Recent Financial Crises

They say that those who do not learn from history are doomed to repeat it. The bad news is that the last 50 years have seen 5 major financial, market, or economic crises. The good news is that each crisis has lessons that you can apply today to help you build more wealth and feel…

September 18, 2020

Podcast: Christine Benz — Morningstar & 25 Years of Personal Finance

Episode 43 of the NewRetirement podcast is an interview with Christine Benz — author and Morningstar’s director of personal finance — and discusses the big financial and life lessons Benz has picked up over her 25-year career at Morningstar. They also talk about Benz’s works, 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances…

July 23, 2020
best retirement investments

10 Retirement Investments That Don’t Involve Stocks, Bonds, or Other Financial Products

Investing in ourselves doesn’t need to involve money. In fact, many of the best retirement investments do not involve greenbacks at all. Instead, they are investments that make the fullest use of our time, allow us to spend precious moments with the people we love, and enable us to focus on those things that make…

July 5, 2020

How Much Time Should You Spend On Retirement Financial Planning?

Would you believe some people give retirement financial planning less attention than planning a vacation, choosing a restaurant, or buying a television? It’s a bit scary, but it’s also true. Retirement isn’t an event, and it’s not something to buy. If you want to keep your current standard of living for the long haul, you’ll…

July 3, 2020
401(k)

When to Roll Over Your 401(k) Plan Into an IRA

When you move from one place of employment to another, you’ll probably want to at least give some careful thought to taking the funds in your old 401(k) plan with you. In many cases, rolling them over into an IRA is the best choice. But then again, sometimes it’s better to leave your funds in…

July 2, 2020
Retirement

Retired at 30: A True Story of Saving for Retirement

Jacob Lund Fisker is not your typical retiree. He’s certainly not at an age where he could collect Social Security. He’s not in his 60s or his 50s. Jacob isn’t even in his 40s (at least not yet). It’s almost astonishing that Jacob is retired – and financially independent – and he is still in…

July 1, 2020
Money Talks

Money Talks, But Do You Speak the Language?

Have you ever traveled to a place where they speak English, but the people have a heavy accent and a different dialect? You have a vague and slowly formed idea of what they are saying, but it can make you feel confused. Most of us feel that same confusion when dealing with personal finance issues.…

June 30, 2020
straight talk

4 Reasons Why Straight Talk About Retirement Can Give You a Better Future

It’s taboo. It’s not polite. It’s personal. These are all things you’ve probably heard when it comes to talking about money. Keeping your lips sealed about your personal finances is pretty common, but your financial future may be in jeopardy if you’re not willing to have a straight talk about retirement planning. Straight talk about…

June 29, 2020
retirement coach

6 Ways a Life Coach Can Improve Your Retirement

You’ve saved money, but are you really ready for retirement? Using a life coach for retirement might sound crazy, but it’s not. While some people prepare for the financial aspects of retirement, it is not clear how many people develop clear plans for the non-financial aspects. Both are important. A financial advisor or an online…

June 29, 2020
FIRE -- Financial Independence Retire Early

Is Your Retirement on FIRE (Financial Independence Retirement Early)?

“FIRE” stands for Financial Independence Retire Early for a group of fired-up young people. In a nutshell, it’s about making some significant lifestyle choices immediately to try to achieve financial independence as quickly as possible. For most followers, it’s actually more about mindfulness, frugality and simplicity – not just about money and financial independence. FIRE…

June 26, 2020
wealth inequality

Wealth Inequality: We Are All Affected, But Black Households in Particular

Wealth inequality is real. The disparity effects most of us. However, the black-white wealth gap is staggering. What is Wealth Inequality? Wealth inequality is the gap in net worth — your assets minus liabilities — between the wealthy and the poor. The differences in wealth between the rich and poor in the United States are…

June 11, 2020
scarcity

Scarcity: Don’t Let it Steal Your Retirement

Worry about the scarcity of time, money, food, etc… can be a problem in lots of situations – including retirement. Learn how to focus on what’s important!

April 14, 2020
financial values

How and Why to Pass on Financial Values to Your Heirs

The best gift to leave heirs isn’t a lot of money. What’s really valuable is to pass along strong financial values and knowledge. Learn how.

September 19, 2019

10 Reasons Why Talking About Money Can Give You a Better Future

Talking about money with friends, family, and peers can improve your financial outcomes. You’ll make better decisions.

September 19, 2019
managing money for happiness

6 Tips for How to Manage Money for Happiness

Financial goals are usually numerical. Nothing wrong with that, but you probably also want to manage your money for happiness. Find out how.

February 25, 2019

NewRetirement Planner

Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.