Retirement Savings: In Your 40s

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Ask anyone who’s been or is there: ages 40 to 49 are a busy time. There are quite a variety of expenses to consider. For many people, funds aren’t just being allotted to the costs of raising children; aging parents may need some financial assistance as well. And let’s not forget about existing debt and mortgages.

While it may seem like your accounts are being pulled in several directions, it’s equally – if not more –important that you are moving money into a retirement savings account, too. Approximately one-third of people aged 30-49 years old don’t have a retirement account. If you’re in this category, you need to start thinking even further ahead.

 

Up and Over The Hill

Most people hit their peak earnings during their 40s. Now, don’t get caught up in thinking that means it is time to buy that dream home. Because what comes after a peak? That’s right, a downhill slide. If you’re presently struggling to live within your means, imagine how you’ll feel when you’re facing life without a steady paycheck.

What kind of costs can you expect at or after 40? It’s undeniable that health care costs will continue rising as you age because you will likely need more care. There are two sure fire ways to delay spending time in doctors’ offices and taking more medication – diet and exercise. Yes, we know these aren’t fun, but numerous studies have shown time and time again that taking care of yourself helps ward off conditions that come with aging.

Mid-life is also when many think about purchasing or upping life insurance for themselves or family members. This can be a matter of dollars each month and is definitely something to look into. None of us believe the unexpected will happen, but its best to be prepared, for your family’s sake, in case it does.

 

A Different Angle

If your retirement savings are minimal or non-existent, you need to strongly consider a lifestyle change. Many families are joining what’s being called the tiny house movement. Downsizing is key but moving into a 500 square foot home is not. It’s more about reducing unnecessary living costs, such as cable, leisure expenses and debt. While you’re decreasing across the board, you can more easily max out your retirement vehicles.

Up your retirement savings up as high as you can to make up for any lost wages later. Not sure how much you’ll need to retire? Use a retirement savings calculator that tailors suggested deposits to your age, income and even estimated inflation. For reference, you should be saving 12 to 15 percent of each paycheck in your 40s, at a minimum.

 

A Bite Out of the Sandwich

You may feel like your retirement savings should be put on the backburner when you’re faced with more immediate financial concerns at home. Many of today’s 40 year olds are in what’s considered the ‘sandwich generation’ meaning they’re in between caring for children and for their parents. While it can be daunting, the best approach to sensible retirement saving is a pragmatic one.

Hopefully, you or your spouse’s parents have put money aside for retirement. If they didn’t or lost funds due to an emergency, you will need to work together as a family to cut expenses and find ways to provide for their needs. Help get your parents’ paperwork in order and you’ll have a clear picture of what to expect.

Your kids will likely need help with expenses before, during and after college. The best way you can help them out? Teach them some self-sustaining habits, such as cooking, basic car maintence, simple sewing or even gardening. Remember, they can always get a loan for their education and you cannot do the same for retirement.

With all the choices you make and the busy activities of your 40s, use this momentum to move your retirement savings forward. Doing so makes the next 40 years something to look forward to, not fear.

 

For 50-year-olds, retirement is a looming prospect. Next week, we’ll talk about what can still be done to maximize savings and diversify portfolios. For more advice on navigating financials or saving for retirement, click here for friendly advice from the CommunityAmerica Credit Union Savin’ Mavens.


Little Tikes HandiWorker Tool Playset Just $11.97 (Reg $29.99)

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little tikes

Hurry on over to Walmart where they have this Little Tikes Little HandiWorker Workhorse Tool Play Set priced at just $11.97 — down from $29.99!!

If you need to get it shipped to you, that will run $4.97.  However, you might check to see if you can’t pick it up at your local store instead and avoid paying shipping charges at all!

Click HEREto Shop

Fast Company Magazine – Only $4.99 Per Year!

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Subscribe to Fast Company Magazine for only $4.99 per year (58% off)! You can order up to 3 years at this price!Add this magazine to your shopping cart and then enter the coupon code pennypinch and then you will see the price drop! This deal is good until Wednesday 4/1/15 11:59 PM EST.

Fast Company Magazine is known as the hip guide to the business revolution, featuring the latest business news and trends, cutting-edge entrepreneurs and the very fastest growing companies.

**If you find any other title on this site, you can always use the code: pennypinch and instantly save 20% off of the list price!

Walmart Weekly Coupon & Deals Matchups for the Week Of 3/29 – 4/4

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Walmart has an on-line coupon policy you can read (and print) it from here. You can also view their price match policy here.

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Below you will find this week’s Walmart matchups.  Since there is not always a weekly ad, these are matchups using the coupons which recently became available to print and from this past weekend’s coupon inserts.   As a reminder,  prices can very from region to region, so there may be pricing differences where you shop!

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Grocery
Dairy/Frozen
HBA
Household
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Easter Items

New Reddi Wip Printable Coupon!

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reddi wip coupon

Easter is right around the corner, and my family always does some baking. Make it easier (and cheaper!) on yourself with a new printable coupon from Reddi Wip!

WALMART
TARGET
KMART

Get 48 Chalkboard Labels For Just $6.95

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48 Chalkboard Labels

This is always a popular deal – and perfect for all those Spring/Summer craft projects you might have coming up! You can order a 48 count package (various shapes) for only $6.95!

  • Super simple stylish labels – just peel, stick and write and you’re ready to go!
  • Endlessly reusable. Need to change the label? Easy! Simply wipe with a damp cloth and re-write.
  • Any chalk will do. You can write on these labels with regular chalk or liquid chalk markers!
  • Organize and personalize any space with these simple to use and endlessly reusable labels.

You don’t have to purchase a special pen — regular chalk works!  However, you can grab this pen for only $3.99 that would work perfectly! (make sure you look under other sellers to find this lower price).

Click HEREto Shop

**Shipping is free if you are a member of Amazon Prime or if you spend $35 on qualifying Amazon purchases. Prices and availability subject to change. Make sure you confirm the price prior to purchase. If the price noted above differs from what you see on line, it simply means that this deal has expired since the time it was posted.

DIY Easter Egg Banner (Silhouette Project)

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easter banner pin ppm

Easter is coming soon and the best part is that means Spring is here! I absolutely love decorating for Spring/Easter around the house. All of the bright colors, cute cuddling critters and of course the sweets that come along with it.

One of my first projects for the upcoming Easter month and decor included this super easy to make paint chip banner. In all honesty, this project took less than 10 minutes and turned out beautiful! Simply pull out that Silhouette or cutting machine, grab some cardstock paper (or paint chip samples), some twine and you are set to go!

Supplies

  • Silhouette Cutting Machine
  • 8+ colored cardstock pages, scrapbook paper or paint chip samples
  • Black Vinyl
  • Twine

Directions

  1. First of all I used paint chip samples I picked up while purchasing paint for my new house. The samples I picked were 4×6 solo colored sheets. If you have no intention on buying paints, but would like to use paint chip samples, try asking the paint store if they have old or discontinued samples you could have.
  2. With your Silhouette machine (or other cutting machine), simply open up a new page, draw an egg shape and two tiny circles (for the twine to go through) with your drawing tool, set your blade to 4 and cut.
  3. Again with the Silhouette write the word “EASTER” or if you prefer you could write “SPRING” in Gabriola font. I made my letters 2.5 inches tall. Print onto black vinyl and transfer onto previously cut eggs.
  4. Thread twine through eggs. Tie a loop on each end of the twine to make hanging easier.
  5. Hang over a decorated entry table, atop your hearth or to the place of your choosing.

This project is really very simple and fun to do. The best part is you can easily change the colors and designs around to make it your own.

easter banner ppm

40% Off Select TS Shure Toys! (Puzzles, Magnets & More!)

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TS Shure Toys

Today only you can save 40% off select  TS Shure Toys.  You’ll find puzzles, magnets & more!  These would make great little gifts to add to an Easter basket or two.  I also like to grab these and stock up on gifts for baby showers and birthday parties!

Here are just a few of my fave deals:

T.S. Shure Fashion-A-Belles Rockstar Wooden Magnetic Dress-Up Dolls – $12 (Compare to $13.81 +tax and S&H online at Walmart.)

T.S. Shure Bear Cubs Wooden Magnetic Dress-Ups – $12 (Compare to $13.51 +tax and S&H online at Walmart.)

T.S. Shure Architectural Elements 59-Piece Set – $17.99 (Compare to $24.43 +tax and S&H online at Walmart.)

SHOP HERE

**Shipping is free if you are a member of Amazon Prime or if you spend $35 on qualifying Amazon purchases. Prices and availability subject to change. Make sure you confirm the price prior to purchase. If the price noted above differs from what you see on line, it simply means that this deal has expired since the time it was posted.

**LAST DAY** Carter’s: 50% Or More Off Everything + Plus Extra 20% Off $40+

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carters spring fling 33015

Today is the last day to take advantage of this great spring sale from Carter’s! Everything is still marked down 50% or more! And, when you spend $40 or more, you can take an extra 20% off your order by using the code: MARCART when you check out!

SHOP HERE

Menards Weekly Ad 3/29 – 4/11

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menards

Menards is well known for home improvement items, but they also often have deals on household items and foods. Below you will find the most recent deals which include rebates and coupon matchups.

MAIL IN REBATE
OTHER DEALS

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