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Another Reason Why to Wait on Social Security

The more questions we ask the more we learn about Social Security to help us with our Retirement Projections. My Dad and myself got talking about what happens when once spouse dies how much the other spouse gets then from Social Security for monthly payments if they are both retired.

Retirement Projections that we Do

It is a new year and we have done our Family P & L Actuals from last year. We have also done our 2021 Budget and Goals sheets together. Now is the time to update our Retirement Projection sheets with our Actuals from 2020 to see our new Retirement Projections.

Fix or Sell the Car

Recently we took our car in for an Oil Change and the Store Manager came out to the sitting area and gave me a long list of repairs the car needs. It was over $3,600. I said to him that the cars value isn’t much over that. When the shock wore off, I told him I was going to hold off for now.

Things Happen like COVID-19

Hope you had a fun New Year’s Eve and New Years Day. I am excited that it is 2021 and all the new opportunities we have this year. It would be hard for 2021 not to be way better than 2020. As many people know a lot of things can happen to a family in a short period of time.

2020 is over and here are our Results

December was a fun month since this was the first time we had our folks with us for the whole month to celebrate Christmas and New Year’s. They plan on staying till sometime in March but we would love to have them live with us full-time in the future.

Budget and Goals Time

Happy New Years Eve! Yea, 2020 is over and in the books tomorrow. 2020 is a year that we will all want to forget. I am optimistic that 2021 is going to be better by a mile. I don’t see how it could have been any worse.

Christmas Spending

Christmas is definitely our favorite Holiday Season. Darlene and myself start decorating the day after Halloween. We like to buy some new Christmas decorations each year.

Stocks – Hold or Sell

There are a lot of different philosophies on the subject of if you should stay in the market through the up and down times or not. Some of my friends say they get out when it is high and then buy when it is low. They swear they make a ton of money doing it that way. Yet, I don’t have a crystal ball on when the Stock Market is at around the top and not going any higher. I would have felt bad jumping out of the Stock Market when it was even at 20,000 and then waiting for a crash. I would be missing out on all these dividends and growth we have been receiving.

Financial Planner Costs and Questions to Ask

We have taught our boys to shop around for the best Financial Planner that they like. We have told them to do research on different Financial Planners from what they charge and more. We want them to feel good about who they work with and are able to talk with them comfortably. If they do choose one to work with, we prefer Free of course or if they do pay, then to pay a fixed cost.

Consult with your Financial Team Yearly

Everyone has different situations and goals in life. Not everyone may need to have a Financial Team or if they have one maybe they don’t need to see them yearly. For instance, my Mom who has no Assets and lives in a Nursing Home doesn’t need a Financial Team. We hope though our boys will acquire a lot of Assets in their lifetime and need a Financial Team along their journey to Financial Freedom.