Asset Mentors

👎 Bankrate's 5 Worst States For Retirement 👎 🥇 Alaska - Scoring at the bottom for both weather and affordability, it’s easy to see why Alaska was named the worst state for retirees. 🥈 New York - With weather obviously a large factor, the colder climate paired with high prices isn’t attractive to retirees. 🥉 Washington - The rainy climate and lack of affordability make it an undesirable retirement destination. 4️⃣ California - A high cost of living makes it unaffordable for those trying to stretch their retirement savings. 5️⃣ North Dakota - Cold weather and average affordability make it unpopular with seniors. #AssetMentors #Retirement #RetirementPlanning

🚚 Planning To Relocate In Retirement? ✅ Set Goals and Priorities - Are you looking for a change of scenery, a more suitable climate, or a location with a lower cost of living? 🔎 Do Your Research - Beyond monthly expenses, you’ll want to explore the availability of healthcare and access to recreational and cultural amenities. 📋 Narrow Down Your List - Create a shortlist based on your top choices and reach out to locals to get firsthand knowledge of living in the community. 🧳 Enjoy An Extended Stay - Taking a trial run in the desired area will give you a sense of the everyday realities and costs of being a permanent resident. 📫 Make A Plan - From purging and packing to forwarding your mail, you’ll need a plan, a checklist, and a budget to keep you on track. #AssetMentors #Retirement #Relocating

🖐️ 5 Steps To Reduce Debt And Improve Your Credit Score 👛 Establish A Budget - This will help you get an accurate snapshot of your spending and identify areas where you can cut back. 📆 Make Payments On-time - You’ll avoid costly late fees, and payment history accounts for nearly 35% of your credit score. 🏗️ Build Your Credit - Consider taking out a credit builder loan to bolster your score. Renters can also report their rent payments to all 3 credit bureaus. 🔍 Review Your Credit Report - Check for any errors that might be present and get insight into what might be impacting your score. 🛠️ Manage Your Available Credit - Staying below 30% of your available credit will keep your score strong and help you stay on budget. #AssetMentors #Debt #CreditScore

💲 10 States That Tax Your Social Security Benefits 🏔️ Colorado* Connecticut 🌻 Kansas Minnesota ⛰️ Montana New Mexico ⛵ Rhode Island Utah 🌲 Vermont West Virginia *Only For Recipients Under Age 65 #AssetMentors #SocialSecurity #Retirement

🌴 Median Home List Price in the 10 Most Affordable Beach Towns 🏡 🥇 Calabash, NC - $367,100 🥈 Lillian, AL - $349,500 🥉 Punta Gorda, FL - $429,000 4. Sunset Beach, NC - $339,900 5. Grant-Valkaria, FL - $497,500 6. Englewood, FL - $439,300 7. Crystal River, FL - $369,900 8. Arapahoe, NC - $342,000 9. Venice, FL - $459,900 10. Hudson, FL - $350,000 #AssetMentors #Retirement #BeachTowns

🗓️ Most Common Financial Mistakes 🗓️ 💰 Unnecessary Spending Make sure your discretionary spending fits within your budget. 📆 Recurring Monthly Payments Shop for better deals on memberships - reconsider streaming services. 💳 Credit Card Spending Factoring in double-digit interest rates makes the cost of charged items exorbitant. 💸 Not Saving Establish an emergency fund to prevent a financial crisis. 📈 Not Investing In Retirement Contribute to tax-deferred retirement accounts or employer-sponsored plans. #AssetMentors #Retirement #FinancialHealth

🛠️ How To Build An Emergency Fund 💰 👉 Start Small - $5 Per Day Equals $1825 Per Year 👉 Use Free Money - Pick A Bank That Offers A Cash Bonus For New Customers 👉 Add In Unexpected Cash - Earmark A Portion Of Your Birthday Cash, Inheritance, and Tax Return 👉 Reduce Expenses - Redirect That Money Into Your Emergency Fund 👉 Stay Disciplined - Make Sure That These Funds Are Only Used For True Emergencies #AssetMentors #Budgeting #FinancialPlanning

💰 Trust Fund 101 💰 Trust Funds are legal entities that use a third party to hold and manage assets on another’s behalf. Parties are involved in a Trust Fund: ✔️ Grantor - the person providing the assets ✔️ Beneficiary(s) - those who will ultimately receive the assets ✔️ Trustee - a neutral third party that manages and distributes the assets ⚖️ Trust Funds protect your assets from the probate process, meaning a quicker distribution of assets to your beneficiary(s). 💸 Assets can be distributed on a payment schedule or as a lump sum. 🚨 Remember - Trust Funds aren't just for the wealthy! 🖱️ Reach out to www.assetmentors.com to see if a Trust Fund is the right fit for you and your beneficiary(s). #AssetMentors #TrustFund #EstatePlanning

8 Expenses That Can Kill Your Retirement 😱 1. Streaming services: Cut down on subscriptions to save money. 2. Life insurance: Adjust policies to lower premiums if you no longer have dependents. 3. Luxury items: Stick to more affordable options to avoid overspending. 4. Risky investments: Opt for safer options to protect your savings. 5. Debt: Tackle outstanding loans to avoid accruing interest. 6. Vacation spending: Consider budget-friendly destinations to save on travel costs. 7. Fraud protection: Stay vigilant against scams to safeguard your finances. 8. Medical expenses: Plan ahead for potential healthcare costs in retirement. #AssetMentors #RetirementPlanning #Expenses

Median 401(k) Balances By Income Level 💰 $15,000 - $29,999 = $6,142 💰 $30,000 - $49,999 = $10,072 💰 $50,000 - $74,999 = $24,939 💰 $75,000 - $99,999 = $51,073 💰 $100,000 - $149,999 = $91,323 💰 $150,000 + = $188,678 #AssetMentors #401k #RetirementPlanning