I recently spoke with one of my favorite financial expert Jean Chatzky, who shared their thoughts on paper and pencil budgets, planning for retirement and staying out of debt.
If you surf channel, while getting ready for work in the morning, you can Chatzky on the NBC Today Show, have noticed distributes financial advice for the average family.
Not a morning person? Do not worry, night owls can catch his new show, Fundraising with Jean Chatzky, Tuesday at 20:00 clock on RLTV. Chatzky is live align calls from viewers to call in their performance.
But before she takes over the night air, she picked up the phone to share your thoughts with me in the Budgeting retired and live in one of the most expensive cities in the USA.
Q: You have dispensed through good times and bad personal financial advice. What changes have you seen in the public interest in personal finances for decades?
We are always interested in rising markets. (Laughs).
Our interest in personal finances has increased due to our responsibilities have increased. 401k (savings accounts for retirement) have been invented 20 years ago ... With this, people have had to be more responsible for their own age. I think we understand that we can discuss more, and we must take care of ourselves.
F: You are going to start fundraising on RLTV, and I understand that television is geared to viewers who are 50 What sparked your interest to achieve in the public?
I'm 47 and I feel like there's an audience that I went, and my mother is gone, and my friends are a part.
Q: The public has 50 heavy financial worries: Han attracted tremendous changes in the portfolio of properties and actions that aim to reduce at a point in life where they begin their risks. What is the best way for the average American 50 or 60 years continuing to grow a wealth while maintaining a moderate risk exposure?
I think we all need to remember ... how long term is long term really. People over 80 should have some contact with the equity markets.
That remains true that our life expectancy continues to rise. We have plenty of life left when we. Either 50 or 60, and we want to invest in a way that is conscious,
Q: Standard financial advice says you should start saving for retirement when you are in your twenties. What if you did? What if you are 40 or 50, and say, "Oops!" What now?
There is a large population of student debt at the time, a large population of people in their twenties who do not, how they can save themselves.
Of course it is better if you start when you are young, but if you start when you are older, you have to be more aggressive in the recording. You can choose a little less great to live in their 40s and 50s, so that you can contact.
Although the markets are largely beyond our control, there are other things we can control. We need as a way to save us to the control of the things that we focus on in order.
Q: Some retirees practice "geographic arbitrage" - the act of moving to a place with a cost of living to stretch their dollars could be internal, such as moving from New York to Nebraska, or it could be international. the distance in Panama. What do you think?
There is really nothing new. I remember writing articles, what Forbes (early 1990). This was done for a long time.
I like people who do not have a mortgage in retirement. If you simply by you somewhere that you think this is fun and exciting, then do it.
But if you look hard in New York worked for years and now want the city that you worked so hard to enjoy, I think you can do it too. There are ways that costs no matter where you are cut off.
(Read more: Learn to take a vacation with the budget Manhattan.)
Q: Now for the million dollar question: Do you have to believe in the household?
There are many ways to do this. Some people practice the budget in their heads. Some people practice budgeting, paying attention to the balance of their bank accounts.
I do not want to people that they have a budget document and pencil to tell. At the end of the day people need less than you earn to spend. No matter what the rest of the money falls into bucket, you will not fail it.
Jean Chatzky ask a question? Call 1-855-550 it-RLTV (7588) show. It will take place on Tuesday at 20:00 clock on RLTV live calls.
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