Retirement Spending and How Much Uber Drivers Make in Your City – Links

Forest PathBridge

Retirement:

Spending before and after retirement can be filled with apprehension. However, the best way to relieve yourself of this dread is to plan ahead and know what is likely to be important and what isn’t. If there was only someone who could help you with this stuff…hmm. (Shameless plug.)  


What you should and shouldn’t spend money on in retirement – (next avenue)

There is typically an initial three-to-five-year period of retirement “jubilation,” where many retirees overspend, often with more frequent travel as they start checking off their “bucket list” goals, Jenkin said. That’s usually followed by a longer period of “stabilization” — when spending normalizes for the next decade or so. Jenkin calls the last spending period the “five-mile radius,” when older retirees mostly stay closer to home and their spending (except for health care) typically decreases.


Expenses that go away in retirement – (Curtis Financial Planning)

Ann felt fortunate about being able to retire at 60 after working 10-hour days for many years. However, as the date approached last year, she felt apprehension about ending her salary income. She knew that a portion of her daily spending while working was mostly for convenience, but she never took the time to figure out how much. 


It’s never too early to start a Roth IRA even if you’re a teenager – (the free financial advisor)


The Gig Economy

How much do Uber drivers make in your city? – (Small Business Trends)

If there is one company that symbolizes the gig economy, it is Uber. The issues the company has with its drivers and how much they make highlights the growing pains of the gig economy. Speaking of how much they make, a new report from Zippia looks at where in the U.S. Uber drivers make the most and least money.

Author Kathy Morris says you can make a good wage in some cities, but in others, you will be better of working at McDonald’s. 


Credit Cards

January is a good time to review your credit card choices – (Frugal Travel Guy)

I used to carry the Chase Sapphire Reserve card for dining and travel at 3X with a value in my mind of 1.5 cents per point. I recently product changed back down to the Sapphire Preferred card at 2X dining as I have enough cards with travel credits and at a net cost of $150 when you take away the $300 travel credit, I think I’m getting more out the Gold card.


Travel

January cold often gets me dreaming about the beach: the best places to stay in Seychelles – (Wild Junket)

Empty beaches, spearmint blue water, pristine jungles and lost world islands: Seychelles really is a fabled paradise that lives up to its name. Picture-perfect beaches abound, backed by lush green hills, swaying palm trees and larger-than-life boulders. Centuries-old giant tortoises roam freely, while elegant birds fly overhead.

To help you plan your perfect Seychelles itinerary, I am sharing my tips on where to stay in Seychelles and the best Seychelles hotels on each island.


I’m not sure if this should go under investing, retirement, or travel – buying a home in Italy for $1 – (CNN)

Bisaccia, a picturesque destination in Italy’s southern Campania region, is putting 90 dilapidated buildings on the market for one euro, joining other places across Italy trying to save dying communities by incentivizing people to move there.


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    Financial Advisor David Tuzzolino

     

    David Tuzzolino, CFA, CFP®, is a Pittsburgh, PA fee-only financial advisor. He is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are within 15 years of retirement.

    Martin Luther King, Jr., Sins that Kill Retirement and the Best Travel Books of All Time – Links

    Winter Bridge

    Martin Luther King, Jr.:

    Martin Luther King, Jr. doesn’t often come to mind when our thoughts drift toward financial planning.  But with MLK Day less than a week away, Ebony has an article highlighting the economic component of his message. It’s good.

    Five solid financial lessons derived from the message of a man (much) better know for civil rights – (Ebony)

    We’ll fight for all sorts of things – just turn on The Real Housewives of Atlanta to see crazy fights over a bunch of nothing. But how come more of us aren’t out there fighting to teach our kids to be financially literate…


    Retirement:

    Five important factors to consider before you make that move in your golden years – (Motley Fool)

    … when you’re considering where to set up your home base during your golden years, there’s a lot to think about beyond just where you think it might be fun to live. In fact, there are five key things to consider when you choose where to locate yourself for the next phase of your life. 


    12 deadly sins that may kill or seriously maim your retirement – (MarketWatch)

    I firmly believe that, if you eradicate these 12 sins from your financial life, you’ll have a better-performing portfolio.


    Your big social security decision – when to take it? – (Forbes)

    When it comes to retirement planning, you may have heard a lot about the benefits of tax-advantaged retirement accounts, how to choose investments, and maybe some of the details of any pension plans that you’re fortunate enough to have. But what about Social Security? After all, it provides the majority of retirement income for many Americans.

    There’s really only one big decision you have to make about Social Security and that’s when to take it.


    Nearing retirement? Now might be a good time to ask the question: Do I still need life insurance? – (Sightings Over Sixty)

    Last week I went to the dentist, which in a perverse sort of way got me thinking about insurance — maybe because getting insurance is about as much fun as going to the dentist. But like going to the dentist, it’s something we need to do.


    Retiring Abroad:

    5 things you should know before you drop it all and retire in another country – (CNBC)

    Moving abroad may be the ultimate in using your brain in new ways. “We’ve always been pretty resourceful but when you put those skills to the test it’s comforting to know you can do it,” Cynthia Staton said.

    The most surprising thing about their move was how quickly the Statons found themselves thriving. “We embraced the change and felt like it was a great decision,” she said.


    Travel:

    “To the most beautiful moment in life. Better than the deed. Better than the memory. The moment of… anticipation.” – Jacques, the Simpsons

    Jacques was talking about something else entirely, but I firmly believe that planning for a trip is an exciting part of the overall experience. A few months before any trip, I try to locate a good novel or history about my destination. Am I the only one? If not, here’s an excellent place to start before your next vacation. Oh, and if you’re going to the Caribbean during this cold winter stretch, may I recommend Don’t Stop the Carnival?


    A list of the greatest travel books of all time – (Conde Nast Traveler)

    There are an astounding number of travel books out there. How to choose the best of the best? Back in 2007, Traveler enlisted a literary all-star jury that included Monica Ali, Vikram Chandra, Jared Diamond, Jennifer Egan, John McPhee, Francine Prose, Paul Theroux, Gore Vidal, and more to create a comprehensive list of the greatest travel books of all time. We’ve since updated the list with Traveler editors’ picks, some of which were published in the last decade and have already made their mark.


    Would you like to receive the PathBridge Financial newsletter? You’ll receive about 4 emails a month. My promise, only the best stuff and never any spam.

     
     
  •  

     

    Financial Advisor David Tuzzolino

     

    David Tuzzolino, CFA, CFP®, is a Pittsburgh, PA fee-only financial advisor. He is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are within 15 years of retirement.

    Retirement, the SECURE Act and the Best Soup in Pittsburgh – Links

    Useful Links for Retirement

    Retirement:

    This website is about retirement, and I’m starting with some articles that may help you get there. Then once you’ve arrived, where and how to do it right.


    Don’t wait until you max out your 401k to contribute to a Roth. – (CNBC)

    To Roth or not to Roth?

    That may not be the question as William Shakespeare phrased it. But it is the question you should be asking yourself when saving retirement money in an individual retirement account.


    4 things to nurture in retirement beyond your stacks of green. – (considerable)

    “Many people expect to live ‘happily ever after’ in retirement but haven’t thought much about how that will occur,” he says. He lists these areas as focus points for a happy retirement.


    Do you think tax rates will be higher in the future?  Now’s a good time to consider a Roth. – (CNBC)

    Roth funds…may make more financial sense for savers who expect to pay a higher income tax rate in retirement relative to what it is now. Given current economic and political dynamics, a Roth account may make sense for more Americans than in past years.


    US expats have spoken. These are the ten best countries to retire in.  – (Business Insider)

    Retirees living overseas ranked their experience across 10 categories: housing, benefits and discounts for seniors; visas and residence; cost of living; assimilation and entertainment; quality and accessibility of healthcare; development; climate; government stability; and opportunity for semi-retirement.


    8 steps to help you plan for retirement – (Business Insider)

    When one of his friends tell him they’re thinking about retiring, Dirk Cotton’s first advice is to find an expert. “Find a good a retirement planner, because retirement planning is incredibly complex,” he said. “They’re extremely helpful and worth the investment, and it’s worth it to start talking to them in the years before you retire.”


    The SECURE Act:

    Financial advisors everywhere have been bombarded with articles covering the SECURE Act and what it means to retirement planning. If you’re not familiar with Michael Kitces, he’s a Rockstar in the financial advisory community. When Michael does something, he does it thoroughly, and articles on his website fit this mold. If you want to find out what this new law means for you, start here.


    The SECURE Act will affect your retirement plans. Here’s some detail – (Nerd’s Eye View)

    …the SECURE Act of 2019 makes numerous updates to the rules around retirement plans in an effort to increase access to employer-sponsored retirement plans, and (hopefully) takes a positive step towards addressing the so-called retirement crisis. But as with other legislation in recent years, what legislation may give with one hand, it takes with the other, and in practice, many financial advisors may spend more time dealing with what is lost…than what is gained.


    Soup:

    If you’re ever in Pittsburgh, you’ll notice two things foodwise. 1.) You’ll find fries hidden in unfamiliar places such as sandwiches and salads. 2.) You’ll find Greens and Beans on most Italian restaurant menus. I had no idea this was a Rochester thing as well. Here’s a great recipe.


    Greens and beans are a delicacy. Here’s how to make them right. – (The Life of Jolie)

    This recipe is pretty darn fantastic for a few reasons. First and foremost they’re full of delicious, savory, garlicky flavor. Do I have your attention now? They’re also pretty healthy being that the primary ingredients are escarole and beans. And since there’s no meat, it’s also pretty easy on your wallet (although it would be perfectly delicious with meat added!).


    Pittsburgh Soup:

    How the author failed to include the borscht at the Polish Deli in the Strip District in the Best Soup in Pittsburgh article, I’ll never know. But, I’m willing to give her a pass as she included the phenomenal soup dumplings at Everyday Noodles.

    If you work downtown, the 2020 Cool Down for Warmth event looks worthy. Knowing myself, I’ll be there both days.


    It’s soup weather! A list of the best soups in Pittsburgh – (VisitPITTSBURGH)

    As the air gets colder in the Burgh’, nothing tastes better than a hearty bowl of homemade soup. Pittsburgh has lots of places to get your soup on, and they taste almost as good as your mom’s! Take the chill out of winter this season by trying one or more of these great soups and warm up with Pittsburgh’s hot food scene!


    A soup challenge in Pittsburgh? I’m in! – (Dollar Energy)

    During the 2020 Cool Down for Warmth event, Dollar Energy Fund is hosting a Bowls for Warmth Soup Tasting to benefit families in need of utility assistance. Local restaurants will participate in a soup challenge, serving cups of soup to the lunchtime crowd in Market Square. Attendees get to sample three soups from their choice of over a dozen participating vendors, and vote for their favorite!


    Would you like to receive the PathBridge Financial newsletter? You’ll receive about 4 emails a month. My promise, only the best stuff and never any spam.

     
     
  •  

     

    Financial Advisor David Tuzzolino

     

    David Tuzzolino, CFA, CFP®, is a Pittsburgh, PA fee-only financial advisor. He is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are within 15 years of retirement.