Wreck Recovery: How to Limit the Financial Impact of an Accident

After a car accident, you might be afraid that you won't be able to make it in terms of supporting your family. Time taken off of work will decrease the amount of money that is coming into the home. 

With a little planning and careful thinking about the future, there are ways that you can limit the financial impact that an accident has on your life. 

New Budget Details

Once you are settled at home after the accident, it's time to rework the budget for the home. You need to determine what needs to be paid and what can be put off until later. 

Contact the people who you can work with who will accept a payment at a later time or who will take a smaller payment until you get back on your feet. Another aspect of the budget that you want to think about is the money spent on food and extras for the home. Consider using coupons or using emergency funds that are available. 

Getting Professional Help

If things get to where you can't handle them financially, then consider talking to an attorney like Speers Reuland & Cibulskis, P.C., or someone you recognize and trust in your area, about filing a personal injury claim. 

The attorney can often get compensation for medical bills, time lost at work and pain and suffering for everyone who was in the vehicle. You can also seek professional help in the way of getting assistance for medical visits and paying for the bills that you owe. 

Credit Protection

One of the things that you might want to do is take out a loan. While a small loan might be beneficial for getting you through the first few weeks, it's often not the best option for long-term as the interest rates are likely high, and it can begin to ruin your credit if you can't make the payment. 

You can protect the credit that you have by making payments as you can so that something is sent in to show an effort instead of not paying anything at all. 

Side Work

If you're not able to go back to your full-time job, consider finding side work that you can do to make money. It could be babysitting, writing for an online company or baking items to sell. While performing your work, you might find that you like doing these jobs more than your full-time position.

Any time lost from work can put a dent in the budget. If it's because of an accident, there are some things that you can do to keep the family on its feet, such as asking for help when it's needed. Stay positive as you want to maintain a good demeanor until you're ready to work again.

Think Ahead: 4 Easy Ways To Simplify Financial Planning For Retirement

Financial experts recommend that individuals begin saving for retirement as early as possible in their work life. 

However, many people fail to consider the money they will need during retirement until they are well into their 40s or 50s. 

The benefits of starting to save for retirement early can be significant. Here are four tips you should keep in mind as you do your retirement planning:

1 – Continue Growing Your Retirement Savings

Make saving for retirement a regular part of your financial mindset. Set up an individual retirement account and contribute to it on a regular basis. 

Many funds can set up automatic contributions that will make this task easy for you. Also, check into your employer’s program for retirement savings. 

Many companies will match funds that you put into their retirement plan. Fund your account to the maximum amount to take advantage of this benefit. 

2 – Consider Ways To Receive Passive Income

Some people choose to save additional amounts of money to invest in property that will provide income for them in their later years. 

Rental property can be a good way to provide “passive income” that is perfect for supplementing your money during retirement. However, you should carefully investigate properties before purchasing to ensure that they will continue to provide the long-term income for your needs.

3 – Learn About Social Security Benefits

Social Security benefits will be an important part of most individuals’ retirement planning, but many people don’t begin to research how the system works until they are close to retirement age. 

The benefits you receive at full retirement age will only be about 40 percent of your usual income, so you will have to make up the difference in some other way if you hope to maintain your current standard of living. 

The Social Security Administration website has a wealthy of information and answers many of the most common questions about this critical federal program. Read the information carefully, so that you understand the restrictions and reductions in benefits that occur at different ages.

4 – Talk to A Professional Financial Advisor

Certified financial planners understand the complex laws that apply to estate planning and other matters that should be a part of your retirement plan for the future. 

An advisor, like those at State Bank of Cross Plains, can help you compose a will, a trust fund or other legal structure to ensure your money is well protected, regardless of what happens in the future. 

The advisor can also make recommendations on the types of financial vehicles that will help to maximize your investments. Advisors may also provide legal advice, so that you can have a defense attorney on hand to help protect your assets. 

Careful planning can help you to reach your retirement goals and ensure that your money is safe and ready for you when you need it.

You don’t have to have a big income to begin a savings program that will help you to enjoy a comfortable retirement. Every action you take to accumulate wealth will provide new opportunities to grow your money faster.

Senior Citizens: 4 Ways to Save Money on Your Auto Insurance Policy

Your Golden Years are supposed to be the best time in your life. You’ve worked hard so you will have the ability to enjoy them, but even if you have plenty of money stashed away, you still must treat your nest egg with respect. 

You cannot simply spend, spend, spend, yet you’ve earned the right to have fun. One way to protect your savings is to save money where you can, and you might be surprised that you, too, can save money on your auto insurance coverage.

Even Though You’re Over 55

Senior citizens have a bad rap behind the wheel. Most people think you can’t drive once you reach a certain age, and for some, this might be true. Overall, however, many seniors are excellent drivers, and one reason why is because they’ve been driving for a very long time. Experience counts. 

- How To Stay On The Road Longer And Still Drive Safely -

Over the years, you learn to be more alert and defensive, you learn to gauge other driver’s actions better, and insurance companies are finally cluing in the benefits of insuring experienced drivers, which is why many offer...

1. A Discount for Your Age

Bankrate reports that most insurance carriers will begin to discount your policy as you age. You must maintain a good driving record, of course, but once you read 55 or older, you might see additional savings. 

Some companies will give you a discount if you are retired and not looking to work. Others will discount your premium once you retire as well-deserved congratulations. Younger drivers look forward to that 26-year-old discount, now you can look forward to that 55-year-old one.

2. Even More Savings if You Drive Less

Another thing to consider is how much you drive. Many retirees drive less, plain and simple, because they aren’t headed to and from work every day. The less time you spend on the road, the less likely you are to have an accident or get a ticket. 

If you can find a carrier that offers a low-mileage discount, you’ll save even more money on your policy if you stay within the annual mileage requirements. 

Track how much you drive and then talk with carriers to see if your lower mileage will fetch you some extra dough.

3. Are You Willing to Prove Your Driving Savvy?

If you are willing to allow your insurance carrier to put a diagnostic device in your vehicle that records your driving habits, you might be surprised how much you’ll save on your premiums. 

Many companies offer significant savings to drivers who will put their driving skills where their mouth is. The company will install a diagnostic device into your or have you upload an app onto your smartphone that will prove to the company that you are as good a driver as you say. What have you got to lose, except premium costs?

4. Sign Up for the AARP

If you haven’t done so already, sign up for the AARP. This is not only the largest lobbying group in Washington D.C., but it also offers classes that will get you significant savings on your auto insurance. 

According to carinsurancecheap.net, many carriers reduce premiums for seniors who take a defensive driving course to refresh their skills. What’s one class if it means you can save more money to spend doing fun things during your retirement.

Besides, AARP isn’t the only club that offers auto insurance savings opportunities. You should also look into any club of which you are currently a member, such as the Elks or other organization. 

Don’t forget to check your alma mater’s alumni association either. Perhaps AAA will do more than just offer you roadside assistance and travel plans. Don’t leave any stone unturned. Ask all of your associations if they can help you save money on your auto insurance.





You should not be penalized for finally reaching your Golden Years. This is the time to enjoy life, and stressing over your nest egg is no way to do that. Look into these four ways to save on your auto insurance so you have more money to enjoy life. 

The more money you save, the more opportunity you have to do the things you’ve always dreamt of doing once you retire. Spoil your grandkids until they can be spoiled no more and take that dream trip, too!

Show Me the Money! How to Continue to Make Money Post-Retirement

The word "retirement" means different things to different people. For some, it means the end of working life altogether. For others, it may mean a career switch or a leap from full- to part-time, consulting or freelance work.

However you define it, you still can make money once you've retired. One way is through your investments. If you have invested your money wisely, it will continue to grow regardless of your work status.

But if you are the type who likes to stay active, why not also earn some spending money while doing what you enjoy?

Volunteer Now, Get Paid Later

You may be able to parlay your volunteer efforts into a paying gig. If you're great at planning events, raising funds, obtaining new members, updating databases or other tasks, you could use those skills to snag a paying job.

For the Young at Heart

If you don't have any grandchildren, your grandchildren live far away or you simply love kids, you could work at a daycare, preschool or camp. If your career was in education, consider working a few hours a week as a tutor.

Earn Extra Money? No Sweat!

Now is the perfect time to get (or stay) in shape. If you're serious about it, you could get paid for exercising! Personal trainers who focus on the senior population are in high demand. 

You also can specialize in exercise formats that cater to the older generation: Zumba Gold, Silver Sneakers or the Arthritis Foundation Exercise Program. Water aerobics or other water-based programs are easy on the joints and worth a look.

Yoga is also becoming very popular among seniors due to its numerous benefits to the body, mind and spirit. Expand your mind and your exercise routine and learn why yoga is perfect for older adults.

Have a Hobby?

Do you love sports? If so, you could find work as a coach or referee for a community youth league. Love to dance? Knit? Enjoy mah jongg or cards? Create artwork? Play an instrument? 

You could teach an adult education course through a local community college or other venue. Senior centers and adult communities usually offer a variety of activities, and these may be great places to start teaching.

Lifelong Learning

If you're eager to continue learning, take a class to brush up on a topic or acquire a new skill. Once you reach a certain level of proficiency, you could be teaching a course! Remember, many colleges and universities allow seniors to audit courses. That means you can take a course but will receive no homework, no exams and no credit.

Know the SCORE

Those retiring from a career in business may want to become involved with Service Corp of Retired Executives (SCORE), run by the Small Business Administration. 

SCORE volunteers are trained to serve as counselors, advisors and mentors to aspiring entrepreneurs and business owners. Once you receive your training, you may decide to branch out on your own as a consultant to small business owners.

Social Security Issues

Working after you retire can bring in some extra bucks, but it can be at the expense of your Social Security Income (SSI) if you're not careful. If you do it right, however, it could actually mean a higher benefit for you down the road. 

The good news is that if you wait to work until the month you reach full retirement age, your earnings will not reduce your benefits, no matter how much you earn.

According to the government's Social Security website, if you are younger than full retirement age and make more than the yearly earnings limit, your earnings may reduce your benefit amount. 

What's full retirement age? It's 66 for people born from 1943 to 1954. Starting with 1955, add two months for every birth year until 1960 and beyond, when the full retirement age is 67.

Jobs with Benefits

Of course, many seniors work not for the additional income but for the health insurance that comes with the job. These industries are more inclined to offer part-time benefit programs: healthcare, blue collar (unionized), military, government and retail. 

The following are several companies that are said to offer health benefits to part-time employees: Costco, Lowe's, REI, Starbucks, UPS, Whole Foods and Trader Joe's.

If your job does not offer health benefits, you may want to learn more about continuing care retirement communities. CCRC’s offer lifestyle accommodations that range from independent living to assisted living and skilled nursing care, and your monthly fee will never increase solely based on the need for a higher level of care.

Retirement doesn't mean you have to give up contributing to society and the economy. It's never too late to pursue a passion... a dream... or just pocket a few extra dollars.