The Ruta Organization- Financial Planning

Will your 401k be enough?

401(k)s are popular retirement savings vehicles, but many Americans don’t balance will be enough to live on in retirement, you may need to rethink the question. Instead, ask: Will my 401(k) be my only income stream in retirement beyond Social Security benefits? If you answered yes, you should probably explore more options. That’s because your 401(k) funds may have to last two decades or more. So make the most of your 401(k), but consider other retirement income solutions, too. Annuities, for instance, provide protected lifetime income and can supplement your retirement accounts.

How to grow your money and invest it at the same time?

What Is The Infinite Banking Concept? Nelson Nash used the term "Infinite Banking" but what does it really mean? Today's episode is going to be all about that. Let me show you how you can manage ...

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Council Post: The Golden Rules Of Buying Indexed Universal Life Insurance Universal life insurance was designed to be flexible, which means there a lot of options to consider.

We have an odd relationship with splurging.
Many of us treat it like a guilty pleasure and almost take a little pride in our extravagant purchases, even seeing it as “self-care”. But there’s also a part of us that knows we’re not being wise when we senselessly spend money.

So how do we resolve that tension between having fun and making good decisions? Here are a few ideas to help you splurge responsibly!

Budget in advance
“Responsible splurging” might seem like a contradiction, but the key to enjoying yourself once in a while and staying on track with your financial strategy is budgeting. Maintaining a budget gives you the power to see where your money is going and if you can afford to make a big/last-minute/frivolous purchase. And when you decide that you’re going to take the plunge, a budget is your compass for how much you can spend now, or if you need to wait a little longer and save a little more.

Beware of impulse purchasing
The opposite of budgeting for a splurge is impulse buying. We’ve all been there; you’re scrolling through your favorite shopping site and you see it. That thing you didn’t know you always wanted—and it’s on sale. Just a few clicks and it could be yours!

Tempting as impulse buying might be, especially when there’s a good deal, it’s often better to pause and review your finances before adding those cute shoes to your cart. Check your budget, remember your goals, and then see if that purchase is something you can really afford!

Do your research
Have you ever spent your hard-earned money on a dream item, even if you budgeted for it, only to have it break or malfunction after a few weeks? Even worse, it might have been something as significant as a car that you wound up trying to keep alive with thousands of dollars in maintenance and repairs!

That’s why research is so important. It’s not a guarantee that your purchase will last longer, but it can help narrow your options and reduce the chance of wasting your money.

Responsible splurging is possible. Just make sure you’re financially prepared and well-researched before making those purchases!

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How To Use Life Insurance In Your Retirement Planning IULs are a popular choice amongst clients who would like the gains of the markets without the losses, as well as protection for their family after death.

''You May Not Need a Life Insurance Medical Exam''

How To Buy Life Insurance During The COVID-19 Pandemic Here's what to expect if you're shopping for life insurance right now.

We share your concerns about the coronavirus, and we’re here to help answer questions, give guidance, and provide peace of mind — just like always.

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