How To Open A Roth IRA In Under 30 Minutes

How to Open a Roth IRA in Under 30 Minutes

You need to do this today. Single moms – women in general, actually – are waaayyyyyy behind when it comes to retirement savings. We all have plenty of reasons for this… but when we’re 80 and out of money, those reasons won’t matter at all. So today we are going to take 30 minutes to open up Roth IRA accounts. We’re focusing on Roth IRAs specifically because you always have free and complete access to the money you put in. This takes a huge barrier out of the way of retirement savings: This money is not locked up, and you…

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Avoid Target-Date Retirement Fund Traps

Avoid Target-Date Retirement Fund Traps

What you don’t know about target-date funds can hurt you Note: This article contains affiliate links. I may receive compensation if you click on them. Thank you for your support. When your to-do list is already a mile too long, it’s tempting to go the easiest ways to get things done. That’s especially true when it comes to financial matters – like retirement savings – that seem complicated. That’s why so many single moms go with the hands-off, no-worries choice in their retirement plans: target date retirement funds. The whole point of these is to pick one, then ignore it…

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These 5 Budgeting Myths Threaten Your Financial Security

The truth about budgets brings financial freedom Budgets are a single mom’s best financial friend – hands down. Kids are expensive, and it’s even harder to make ends meet when you’re working with one income. That’s where budgets come in to save the day. Unfortunately, just the word “budget” can turn people off. And the idea of having to deal with a budget can make an already overwhelmed single mom shut down. That’s because many people have the wrong idea about budgets, and think they’re are all about cutting expenses… sacrificing fun… and getting bogged down with time-consuming spreadsheets. The…

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Crisis Budgeting: How to Survive Financial Catastrophe And Thrive on the Other Side

When you’re a single parent, it doesn’t take much to knock you into a financial crisis. Sudden job loss… flooded basement… a sick or injured child… dozens of things can make you dip into and use up your emergency savings. And those financial setbacks can leave you struggling to make ends meet. Lots of times, those events pile on top of each other. And like so many of you, I’ve lived with financial anxiety, and had months where I  couldn’t pay all of my bills. When you’re stuck inside a financial crisis, the usual money advice doesn't work. You need…

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You Can Stop Living Paycheck-to-Paycheck

You Can Stop Living Paycheck-to-Paycheck

Worrying about whether you can cover all the bills this month is one of the worst feelings a single mom can have. And knowing that you definitely can’t feels even worse. When you’re living paycheck-to-paycheck, almost anything can knock your finances off course. A bigger than expected electric bill … a smaller than expected tax refund … a sick kid … a birthday party. You have to turn to credit cards, and that only makes next month’s bills even worse. And no matter how much you’re earning, you can get stuck in this damaging financial cycle. It’s impossible to save…

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