How to Build Your Retirement Funds During Covid

How to Build Your Retirement Funds During Covid

In recent blogs, we’ve discussed how important it is to have a retirement fund. However, in this time of uncertainty, thanks to COVID can you justify putting money away for a distant future when the present is filled with anxiety?  With some careful planning, you may be able to reboot your spending enough to set aside at least some money towards a future that will come true. Revamp Your Budget or Set One Up We are going to assume you have a budget already. If you don’t, your first step is to count every penny you spend for at least […]

How Much Should You Have In Your Retirement

How Much Should You Have In Your Retirement?

Retirement is everyone’s goal. The dream is a stress-free retirement with enough money to survive comfortably with work as a voluntary option. Unfortunately, most Americans are on track for an insecure retirement filled with mandatory work just to make ends meet. No matter what your age is, today is the day to begin saving for your retirement. Savings Goals Your goals depend on your age. Kiplinger, experts in personal finance, list the following goals by age: By age 30, your goal is ½ of your annual income By age 35, your goal is  1 to 1.5 times your annual income […]

How Much Should You Have in Savings Article Image

How Much Should You Have in Savings

Americans are generally great at spending money and really terrible about setting money aside for emergencies or retirement. Unfortunately, about 40% of Americans are one paycheck away from disaster. That means that a simple job loss, injury, or even car breakdown will leave a lot of Americans hurting and facing bankruptcy. Most Americans can’t pay off an unexpected bill of more than $1,000. And 36% of Americans have faced an unexpected bill of $5,000 or more in the last year.  Only 16% of Americans have saved more than $200,000 toward retirement while 22% have less than $5,000 put towards retirement. […]

Paying Your Mortgage with Your 401k

Paying Your Mortgage with Your 401k

If the company you work for offers a 401K retirement plan and you’ve been faithfully paying into it on a regular basis, you’ve probably got a tidy sum of money. It’s really tempting to look at that money at 29 or 39 years old and think of all the things you can spend it on. This is especially true when you are facing possible foreclosure on your home mortgage. Should you use those retirement benefits to keep your house or even to pay off your mortgage? The 401k The 401k, a retirement plan offered through many employers, is one of […]

How Katherine in Michigan Retired Debt Free

Name: Katherine Age: 62 Location: Michigan When did you enroll in our debt settlement program and how much debt were you facing? I had about 23,0000.00 worth of debt with 2 credit cards. Why did you choose Pacific Debt over the options and companies you researched? When I was looking for a company, basically, I went thru and saw Pacific Debt, I called and was put in touch with Josh Hallas.  In just speaking to him and his reassurances, I knew this was the company I was supposed to deal with.  Josh explained the company and just what we would […]

Thinking about Retirement? Get a Handle on Your Debt First!

Carrying Debt into Retirement The fact that people are living longer than ever today  means that you need to handle your finances better and make smarter moves regarding your retirement savings. According to the Consumer Financial Protection Bureau, a higher percentage of homeowners are facing retirement with mortgage debt attached to their financial situation. In fact, the percentage of people with mortgage debt went up from 22% to 30% between 2001 and 2011 for homeowners aged 65 and older. When looking at homeowners older than 75 years of age, the numbers increased from 8.4% to 21.2%. You might be wondering what that has to do with […]

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