3 Ways to Overcome Savings Interruptions
Catch Up on Your Retirement Fund
Feel like your retirement savings have been falling behind? Now that the market is down, this is actually the best time to start building your retirement savings to “catch up.” The market will help build greater gains as it grows again (which it always does!). Here are three ways to take advantage. Reduce discretionary expenses or expand income. When restarting your savings, unless your income expands, something’s gotta give. Take a close look at where you’re spending your money — if it sounds like an overwhelming task, trustworthy budgeting sites like Mint can help organize your finances and make sense of your purchases. If your budget is too tight to cut, then consider side hustles. Even a few extra hours a week can add up fast.
contribution limit and can invest and make withdrawals without penalty. Either way, never putting “all your eggs in one basket” is a good guiding principle. This is why tax diversification, or owning a combination of funds with various tax statuses, is so useful for retirement planning. Depending on the tax implications, you’ll have flexibility and freedom in retirement — whenever you’re ready to begin withdrawing. If you’re still worried, you can always change your retirement timeline. Whether it means keeping your job longer or finding different work, you’re still in control of your future. We hope these tips help you feel even more confident preparing for the exciting journey ahead!
Take advantage of catch-up contributions. In 2022, you can contribute as much as $20,500 to your 401(k) or 403(b) retirement fund — but starting at age 50, you can put in an additional $6,500. This is the best time to start saving extra money! You can also add more money to your individual Roth IRA and Traditional IRA account. The contribution limit is $6,000 per year, with an extra $1,000 allowed for those age 50 and over. Diversify your retirement plan. Sometimes, investing into non-retirement accounts can be a powerful tool to save for retirement. If you’ve maxed out your contributions and have money left over, consider investing in a taxable brokerage account. Although you’ll get fewer tax benefits, you have no
Rain, Ice, or Snow Driving Safe in Adverse Weather Conditions
The winter season is almost upon us. Once Thanksgiving arrives, we will notice a drop in temperatures that is oftentimes accompanied by rain, ice, and even a slight chance of snow. If you’re planning to visit family and friends in the Atlanta area, or if you’re heading up north for the holidays, it’s important to know how to drive in adverse conditions. A car accident can turn a fun and enjoyable trip into a nightmare. Here are a few tips to help you drive in adverse weather this holiday season. Rain We’ve all had a bit more practice driving in the rain than in ice or snow but that doesn’t mean we can lose focus when we’re behind the wheel in the rain. Make sure you turn your
headlights and windshield wipers on as soon as you start driving. Drive at a slower speed and keep a safe distance from the cars around you. Avoid driving through puddles since this can make your car begin to slide uncontrollably. If this happens, take your foot off the brake and gas pedal and focus on steering where you want the car to go. Ice Driving in icy conditions is incredibly dangerous, and we get our fair share of ice during winter in Atlanta and the surrounding suburbs. It’s best to avoid driving if the roads are icy, but if you need to go somewhere, you should take it slow and be cautious. Avoid driving in the dark and watch out for black ice (this can often look like standing water).
Snow We don’t get too much snow in our area, but it’s still important to know how to drive in snowy conditions. Like driving in the rain, keep a slower speed and be aware of the cars around you. Plan out your route beforehand, and be ready to slow down when you make turns. If you need to go out when it’s cold and rainy/snowy, make sure you bring an emergency kit with you. Flashlights, bottled water, and blankets are essential pieces of your emergency kit — and you should not leave home without them.
2
Made with FlippingBook Ebook Creator