Retirement on Shine

Final post, but still working this new economy

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When I started this blog in April, I knew it had an expiration date. I signed a short-term contract. I referred to myself as a guest blogger on Yahoo! Even the title, "Working the New Economy," suggested that this was a project of limited duration. After all, how long could this "new economy" last?

Now that it's time to wrap up, it's pretty clear that the new economy has become the new normal. And I can't say that I have figured out exactly how to work it. Unemployment has now topped 10%. Counting those who are underemployed, it's closer to 20%. Mass layoffs are still happening, including a round at BusinessWeek last week where several of my most respected colleagues were shown the door.

One defining feature of this not-so-new-anymore economy is that we will all need to flexible and nimble. I've worked independently for nearly a decade. And now it seems that my usual mix of contract work, freelance relationships, consulting and other kinds of affiliations has become standard in what Tina Brown so aptly dubbed the gig economy.

Using Health Savings Accounts for Retirement Planning

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The lack of health insurance is one of the biggest reasons more people don't retire before age 65. In addition, many Americans reach retirement age woefully unprepared for the medical expenses they'll face. Establishing an HSA, or Health Savings Account, is one solution that can be used to build up money for medical expenses incurred during retirement.

User post: Would you consider moving to another country?

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There was an article in yahoo, that appeared a few days back. It was a survey about migration to another country. Where are you from? Would u consider moving your family to another country for greener pastures? I'm from Asia and though we are not rich, we live a fairly…

Don't cash out your 401(k)!

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Talk about a glass-half-full, glass-half-empty time. Just when we can be encouraged by news that the recession is over, it's hard to feel happy when so many people remain out of work and unemployment is expected to rise even more before it falls.

Here's another reason it's hard to feel good about any possible forward momentum: A Hewitt Associates study finds that even though we have talked a good game about the importance of saving during this economic crisis, it turns out that half of all workers continue to cash out their 401(k) plans when they leave or change jobs.

Simple steps to reach $1 million

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Let's face it; we all don't make millions of dollars a year, and the odds are that most of us won't receive a large windfall inheritance either. However, that doesn't mean that we can't build sizeable wealth - it'll just take some time. If you're young, time is…

Starting a new Home Business Career in MLM Internet Marketing

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I researched the internet for a new home business and someone sent me a Mia Bella Candle. I loved it but I never did anything for a year, just kept checking out different companies. Since I believe in buying products made in the USA, and I knew this candle was from a company that proudly made their candles in Wilkes Barre, PA, not very far from me, I finally joined up with them. I was just going to sell their candles and make some profit to pick up the loss of hubby's income. Well, this business has proven to be much more than that.

Reverse Mortgages Answer Prayers

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I now have peace of mind.” “This really helps out a great deal and solves many problems.” “My friend is a changed man.” “You’re an angel.” “You’re sent from heaven.” “What a mission you do.” These are words I have heard from people who have a reverse mortgage. Seniors may have many years behind them, but they still have many valuable years ahead of them with some important living to do. Yet they often find it difficult living on a fixed income.

A WWE Diva leaves a career for marriage: Do women really still do this?

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Last night, Lilian Garcia stepped out of the ring and waved goodbye to her career as an announcer for the WWE. Garcia, one of the federation's most famous voices, participated in many of the dramatic story lines while wielding the mic for Raw and other wrestling specials and shows.

Dubbed the first and only "Decade Diva" for the WWE, Garcia's ten-year stint came to an official and emotional close, which she described as "tough." Although her contract expires at the end of the year and wrestling publications report that her retirement was not a surprise.

What is most interesting to me about this story is not that the singer, radio deejay, and pageant winner made a career out of belting out the national anthem and playing along with wrestling hijinks, but the reason given for her departure. Garcia, blogs and other pubs are saying, left to get married.

User post: The power of compounding

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Question: Would you rather have a million dollars now or take a penny now and double the amount for 30 days?

As expected, 90% of people chose the million dollars now option. I would have made this choice myself a few years ago. But this would have been the poorer choice, because you would have shortchanged yourself by over $4 Million at month-end. Don’t believe me? Look at penny table calculation on the right. The simple act of doubling your previous day’s investment can rapidly reap huge rewards thanks to the powerful concept known as compounding .

Now a 100% return every day is highly unlikely, but the principle of compounding holds true for even smaller returns (though it will take longer than a month to make your fortune). This is why compounding is a core aspect of good personal finance and the reason why the rich get richer. As outlined in a Kiplinger , when you're young, you have an asset money can't buy: TIME. Start saving now and turn pocket change into riches. Compound interest has been called the eighth wonder of the world. And with good reason. It magically turns a little bit of money, invested wisely, into a whole lot of cash. Even Albert Einstein is said to have called it one of the greatest mathematical concepts of our time.