Tag Archives: invest in yourself

Relationships 101: Couples That Invest Together Last

Relationships 101: Couples That Invest Together Last

The money talk between couples is sensitive and should be approached carefully; it can make or break a relationship. Dealing with finances before marriage can be easy, but when a partner comes into the picture, some changes will need to take place for you to manage certain investments. After being married for some years, both of you will probably have figured out which credit accounts and expenses to share and those that should remain separate.

Image via Shutterstock by SFIO CRACHO

When it comes to long-term, bigger-picture finance plans for the future, making decisions can be challenging. Some strategies can work well for each individual but become a whole different approach when you are together. Below are a few investment tips that you and your spouse can utilize.

Keep aside savings for retirement

As you start saving for your retirement, talk, and decide on issues concerning retirement with your spouse. They include when you would like to retire, where to travel, where to live, and if you will need to start a business so that you can be on the same page. The recommended amount of investment is 15% of your total income once you clear your debt and have a fully backed emergency fund.

Weigh different investment options

Make use of accounts like a Roth IRA and your work 401(k) that offer various tax advantages. While you can combine finances and open joint bank accounts once you’re married, you can’t open a joint IRA or 401(k); they are only for individuals. Currently, taxable joined investment accounts are available. However, only invest in them once you max out tax-advantaged accounts.

If you have a spouse that stays at home while you work, you can still save with a spousal IRA. They have the same income and contribution limits as other IRAs, but to save with it, you must file a joint tax return.

Choose an ideal healthcare plan

Health insurance is one of the most expensive household expenses. If you both have access to health insurance provided at your workplace, you can decide whether to double up under one spouse or have individual plans. You can move the entire household into a family plan or cover your children under one parent. Where one partner has strong coverage in areas like vision, and dental plans, consider the size of out-of-pocket and deductible maximums.

Consider how often you and your household seek treatment, and look for benefits in healthcare niches such as mental health care, special needs therapies, and fertility treatments. Also, include your preferred doctors in your plan.

Get life insurance to protect your loved ones

If you have a family that depends on you, life insurance will protect them in case anything happens to you. As much as you are saving for retirement, life insurance will give you and your family some peace of mind. You can both get a policy of about 15 to 20 years, worth ten to twelve times your yearly income. Once your life insurance term is over, you will be self-insured with your retirement savings.

Plan before Investing in a family home

Purchasing a home is one of the crucial steps you and your spouse will take. Before you start going over real-estate websites and organizing a list of things you’d like for your house, ask yourself the following questions.

  • Why purchase a house now? Consider if you need to buy one because you need a bigger home for your family if you want to stop renting, move to a better neighborhood, or if new constructions are coming up that you would like to invest in.
  • How much can you afford? Agree on a budget that is affordable to avoid future disagreements over excess budget costs. Visit MortgageCalculator.Org to estimate your monthly payments and figure out the amount you can qualify for.
  • How is your credit score? Request for both of your credit reports and go over them carefully. If there are any errors, you can have them fixed on time to avoid delay in mortgage approval for your dream home.

Hire an investment professional

To achieve your investment goals, hire a professional who will guide you. Poor investment decisions can cause major setbacks, financial mistakes, frustration, and tension between couples. Professionals will analyze your investment options and see you through all the processes making your work easy and more successful.

Bottom Line

To create lasting fulfillment in life and love, you need to discuss as a couple your investment options to secure your future. Save for retirement, understand the available investment options, and choose those that are favorable. Also, get life insurance, choose an ideal healthcare plan for you and your family, plan for your dream home, and hire a professional to guide you.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

5 of the Best Ways to Invest in Yourself

5 of the Best Ways to Invest in Yourself

As adults, most of us are good at putting others first- we care for our kids, our parents/ grandparents and our partner. We’re always there to provide a shoulder to cry on for our friends and give them advice, but when it comes to ourselves we can be at the bottom of our own priority lists. Many of us can actually feel bad or guilty when we invest time or money into ourselves, but it shouldn’t be the case. Always remember that you’re important to, and you deserve to be happy. Investing into yourself shouldn’t be seen as selfish, but necessary. Here are a few of the ways you can go about it.

Learn to drive

Research shows that fewer millennials tend to drive than generations before them, and when they do, they get their licenses much later. There are lots of reasons for this, from busy cities not being car friendly to the accessibility of lift apps like Uber and more reliable public transport. However, being able to drive is still a really useful skill to have. If you want to move away later in life you won’t be able to rely on the public transport system as heavily. Being able to drive can also improve your job prospects. Even if you don’t plan on purchasing and driving a car right now, taking your lessons and getting your license means you’re able to in the future if you need to. See learning to drive as an investment in yourself, it’s a useful life skill which could come in really handy. 

Focus on health

There’s only one you; you only have one body so it’s important to take care of it as best you can. Your health is an investment, buy good quality food that’s going to nourish you and skip out on the cheap, convenient rubbish. You don’t have to have a gym membership to get fit, but if you find that having one encourages you to workout then don’t feel bad about spending the money on it. Spending any kind of time or money on your health is never going to be a bad thing. Eating well doesn’t have to be difficult, and these days it’s easy to fit it around your everyday life. From mail order, high quality foods delivered to your door (check out this omaha steaks review as an example) to opting for a healthy restaurant or a healthy dish at a restaurant if you go out. These days, most places cater for those looking to eat less fat or calories, so it doesn’t mean you need to give up going out and eating with friends. 

Improve your smile

Your smile is so important; it’s how you communicate with the world and is closely linked with your self esteem. If you’re insecure about your teeth, you can find that you hold back, you cover your mouth with your hands or try to avoid smiling instead of just being in the moment with others. If you don’t like the way your teeth look, consider going to a dentist and seeing what they can do- veneers, teeth whitening and braces are amongst the treatments you can have. Taking care of your newly fixed up teeth is important too. learn about flossing and the importance of regular brushing. Even missing out on brushing your teeth a couple of times can be enough for cavities to start or stains to develop so it’s important to be consistent. 

Get educated

Most of us couldn’t wait to leave school and get out into the big wide world, but later on as adults we can appreciate how incredible education is. It opens your mind and opens doors in your career, taking on more education is a smart move regardless of what path you’re on in life. 

Travel

Finally, travel is more than just a luxury. It’s great for mental health and personal development, there’s nothing quite like experiencing new things around different cultures in different climates and completely different ways of life that makes you question your own. Travel gives you perspective, builds memories and gives you stories to tell. If you have the time and money, always grab the opportunity with both hands. You don’t always need a huge budget- road trips, backpacking and camping are all cheap and cheerful and allow you to go to new places without spending a fortune on hotels.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

Let’s Get Adulting! Five Things You Must Invest In

Let’s Get Adulting! Five Things You Must Invest In

Time is ticking on and at some point we’ll all have to admit that we’re – gasp! – real live adults. As you grow up, your priorities tend to change – you decide that staying out until 4am every Friday night isn’t your idea of how to have a good time any more, and you also decide that the sort of moody bad boy who always used to win your heart really isn’t worth your energy. The rest of your life starts to change too as your finances change and you decide what you should be spending money on these days. Here are five things that you should start to invest in as you get older…

Skincare

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Noticing fine lines around your eyes? Aren’t we all? It feels disastrous but at the same time they’re a little bit like war wounds: we’re proud of them because they demonstrate that we’ve grown up over the years it’s taken to get those fine lines, and that we’ve become wiser as well as older. That doesn’t mean that we aren’t going to moisturise the heck out of them until they start to fade. Make sure that you keep your skin hydrated with a good quality moisturiser – you want it to glow, after all – and wear night cream and eye cream every night.

Staple Clothing Items

Boots, bags, jeans and jackets: those are the clothes items that you need to start investing in because once you find the perfect ones, believe me – you’re going to want them to last forever. Choose great quality materials like buttery leather and well-sewn thick denim with a little stretch in it so that you can stay comfortable.

Furniture

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If you’re starting to outgrow your Ikea phase it’s time to invest in furniture that doesn’t come in flatpacks and require you to ask your friend’s boyfriend to come over with his screwdriver to put it all together for you. Start picking out items from Plum Goose or other sites that tempt you – add some beauty and style to your home, and pick furniture that will last the test of time.

Your Friends

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Your most important commodity is time, so you should spend it on what matters most to you, which should of course be people. Maintaining your friendships as you get older requires much more time and work than it did when you were at school, so it’s crucial that you overcome that end of the week tiredness to peel yourself out of bed and meet your best friend on Saturday morning for brunch. If you don’t have kids yet, then you might do one day, and it’ll be an even bigger test of your friendship and time – make sure you don’t fall at the first hurdle.

Your Future

More than anything you should be investing in yourself. You are the most precious thing in your life and your future should be something that you focus on. Take classes for further qualifications in your chosen field and put in the extra hours at work, or take relevant volunteering or interning placements. It may be tough in the meantime, but investing in your future will be the best thing you ever do.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram