Many personal finance stories focus on how to get out of debt, and rightfully so: 60% percent of workers report their debt to be a problem, and it's hard to save for retirement when you've got that hanging over your head. Tackling your debt is important, but equally important is what comes next. Once you've paid off your student loans, or your credit cards, how will you lay a solid financial foundation for yourself? That's the question addressed in the latest episode of our MONEY makeovers video series. Our experts help a 29-year-old event planner who successfully paid off $14,000 in eight months. But then she felt at a loss, not knowing what to do with the extra money in her budget after her singular focus on debt repayment. So our experts helped her figure out how much to put into her company 401(k), and suggested she also open a Roth IRA. It's financial adulting 101-- please share with the young people in your life!
Best wishes,
Elizabeth
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Disneyland opened Star Wars: Galaxy's Edge in May, and Disney World opens Star Wars Land soon. Here are expert tips to save time and money.
READER INSIGHTS
We're discussing the first half of our Retire with Money book club selection this week. Join us in our Facebook group! The book is "The Dumb Things Smart People Do With Their Money" by Jill Schlesinger, but you don't need to have read it to participate! If you're not on Facebook, check back here on Friday for excerpts of our chat.
Another exciting announcement: The New School's Retirement Equity Lab launches a new podcast today! The host is Teresa Ghilarducci, a labor professor, economist, and friend of Retire with Money (she was on the panel of our live event last year). Here's their concept: "Tired of the same old retirement advice that's difficult to follow and makes you feel worse about your own saving? So are we. Instead, The New School's Retirement Equity Lab (ReLab) hears from real people about what it's like to save for retirement in a system that only works for the privileged few. Host Teresa Ghilarducci talks to people of all ages -- millennials, mid-career professionals, and near and longtime retirees. We learn how everyday life events can derail even the best laid plans, how people cope, and how we can create a system that works for everyone."
Check out the first episodes at http://bit.ly/resetretirementpodcast
RETIREMENT NEWS FROM AROUND THE WEB
Dreaming of Retiring Abroad? Don't Count on Medicare
Know the limitations of the program before you pick up roots. KAISER HEALTH NEWS
When Kids Make Money at a Summer Job, Who Files Their Taxes?
Here's how to understand your family's obligations. MARKETWATCH
How to Take Charge of Your Health Before Something Bad Happens
Too many people wait until there's a crisis to turn their behavior around. NEXT AVENUE
Investors Are Usually Wrong. I'm One of Them
The case for passive index investing...and for sitting on your hands. THE NEW YORK TIMES
About Elizabeth
Elizabeth O'Brien is a senior writer at MONEY, covering retirement and health care. You can email her at elizabeth.o'brien@moneymail.com and follow her on Twitter at @elizobrien.
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