Is Mint Shutting Down in 2024?

Mint is one of the longest-running personal finance apps, but on October 31, 2023, they announced that they are shutting down and merging with Credit Karma.

Why Is Intuit Shutting Down Mint?

Intuit states they are reimagining Mint, making it a part of Credit Karma to help customers master their personal finances. Users can switch to Credit Karma and see some of the same Mint features with more power.

Customers can track spending, set goals, see their net worth, and get actionable tips to further improve their financial situation.

When Is Mint Shutting Down?

Intuit has been somewhat secretive about the exact date Mint will shut down, but the overall consensus is that it will cease all operations as of March 23, 2024.

10 Best Mint Alternatives To Manage Your Money

Mint shutting down can feel devastating if it’s the only personal finance app you’ve used, but fortunately, there are many Mint alternatives to consider.

1.   Monarch Money

Like Mint, Monarch Money gives you a holistic view of your finances. You can link all of your financial accounts, including bank accounts, credit cards, investment accounts, and loans, so you can see your net worth all in one place.

If you own real estate, you can connect Zillow Zestimates to keep track of your real estate values, and if you have alternative investments, you can add them manually so you always know your net worth in real time.

Monarch automatically categorizes your spending by using AI and transaction rules so you always have a clear picture of your spending habits.

Other favorable features include:

• Customized budgeting: Create categories and set up automatic notifications to stay on track.
• Spending flow charts: Get a visual of your spending patterns to determine where to make changes.
• Free collaboration with a partner or financial advisor: Securely share the information with a partner to get on the same page or your financial advisor for more customized advice.
• Goal monitoring: Track your goals and see what changes you should make to reach them.

You can build custom reports and personalize the dashboard so it shows the information you need to make important financial decisions.

Mint customers can enjoy a 50% discount using code MINT50 when importing data from Mint.

2. YNAB

YNAB (You Need a Budget) has a mission to change how you view money. They want you to love money management, and they do this by teaching a flexible budgeting method that helps you get better control of your money so you can spend guilt-free.

YNAB has four rules:

• Give every dollar a job: This ensures your hard-earned money goes toward what you need, including paying bills and spending money.
• Embrace your expenses: YNAB encourages you to break down all expenses, including those that are less frequent, into monthly installments so you always have enough to cover your expenses.
• Be flexible: Life changes, sometimes monthly, and YNAB encourages you to make your budget flexible, changing your spending habits as necessary without guilt or feeling like you must sacrifice.
• Use old money: YNAB wants all users to get to the point that they use last month’s money to pay this month’s bills. This eliminates the risk of living paycheck-to-paycheck and makes for a more peaceful life.

YNAB has a 34-day free trial, so you can see if it’s right for you, and Mint users can import data using the Mint to YNAB migrator.

3. Quicken Simplifi

Quicken is another household name in the personal finance world, but Quicken Simplifi is a newcomer to the field.

It’s Quicken’s mobile personal budgeting app that tracks and categorizes spending, creates spending plans, creates and monitors savings goals, and runs customizable reports to help you see the big picture.

Users can set up real-time alerts for low balances, upcoming expenses, or when you’re close to your spending threshold. Quicken Simplifi automatically categorizes spending but has many opportunities for customization to track spending habits effectively.

Quicken limits Mint users to 10,000 transactions per import, and you must manually set up recurring reminders for any uploaded data. Quicken currently is giving Mint users free access for one year when they import Mint data within 3 months of signing up.

4. Empower

Empower, formerly Personal Capital, is probably the closest of all Mint alternatives. Like Mint, it offers a free personal finance dashboard, but the tools are much more extensive than Mint ever offered. You can link most financial accounts to Empower and track your net worth.

Empower strives to help users plan for the future while sticking to the created budget with these tools:

• Net worth calculator: If you link all your personal finance accounts to Empower, you can see your net worth in real time. This helps you make sound decisions to achieve financial freedom.
• Budgeting planner: Set savings and spending goals and track your progress to see if you’re sticking to your budget. You can also create customized categories to ensure your spending habits are within your budget, and if not, you can easily make changes in the flexible budgeting tool.
• Retirement planner: Retirement may feel eons away, but the retirement planner helps you see how much you should save now to achieve your long-term goals. You can run different scenarios, playing with the numbers to see if you should change your current retirement savings plan.
• Long-term financial planning: The Education Planner and Investment Checkup tools help you see your progress toward long-term goals and determine if you need any changes.

The only downside is Empower doesn’t have a tool that imports Mint data directly to Empower.

5. Rocket Money

Rocket Money helps users take control of their financial lives. Over the last five years, they’ve saved members over $117 million.

But like the other good Mint alternatives, Rocket Money gives you a holistic view of your net worth if you link your financial accounts or create custom categories. If you link your accounts, Rocket Money will automatically track and update asset values and debt balances.

Other features Rocket Money offers include:

• Customized budgets: Use Rocket Money to create budgets, and they will automatically create a spending allowance based on your most common transactions. You can also set up goal trackers and get alerts when you’re nearing spending limits.
• Automated savings: Rocket Money helps you reach savings goals by automatically transferring free funds to your savings account. This ensures you always save and gets you much closer to reaching your savings goals.
• Track and cancel subscriptions: A big part of budgeting is reducing your spending. Rocket Money helps you find and cancel unnecessary subscriptions for you, keeping more money in your pocket.
• A free version: Rocket Money offers a free version but doesn’t include access to automated savings, a concierge to cancel subscriptions, or access to financial experts to answer your questions.

Like many Mint alternatives, you can automatically import your Mint data to Rocket Money.

6. Tiller Money

Tiller Money is a great choice if you’re looking for a Mint alternative that uses spreadsheets. Like most budgeting apps in this list, it automatically updates in real-time, so you always have the latest information.

Tiller Money has flexible spreadsheet templates, whether you want to track spending, create a debt payoff plan, create a budget, or track your net worth. Because it uses spreadsheets, Tiller Money makes forecasting finances and cash flow simple, using just one tool.

Other features Tiller Money offers include:

• Spending Trends Sheet: Get control of your spending by visualizing it so you know where to cut back.
• Multiple templates: Users can access prebuilt templates and community-built templates, or you can create your own.
• Email summaries: For the days you don’t have time to analyze a spreadsheet, Tiller Money sends an email summary of your most recent transactions so you’re always informed.
• Great customer support: Tiller Money has extensive documentation, access to U.S.-based representatives, and a large customer community to get answers to your questions.

Like many Mint alternatives, Tiller Money has a free 30-day trial. However, importing Mint data to Tiller Money may be a bit labor-intensive.

7. CountAbout

If you’ve been using Mint for many years and want to import your data to your next budgeting app, CountAbout makes it simple with its seamless import capabilities. CountAbout is a straightforward budgeting app that allows custom categories and doesn’t pester you with annoying ads.

Along with creating a robust budget, you can capture and save receipt images and automatically sync your bank accounts. They sync with thousands of banks but state if your bank isn’t listed, ask them to add it by contacting support.

Other features CountAbout offers include:

• Projections: See the difference even small changes in your spending habits can have on your financial goals. Whether you’re trying to get out of debt or save more, the budgeting tools will help you see how to reach your goals faster.
• Spending reports: Get a customized spending report so you can see where your money goes and what you should change. You might be spending money you didn’t realize and can reach your goals faster by changing it.
• A free trial: CountAbout offers a lengthy 45-day free trial, and then to have access to automatic downloads from your linked bank accounts, you must sign up for the Premium version.

8. PocketGuard

PocketGuard makes it easy to see where your money goes each month, helping you spend less and save more. PocketGuard has over 1 million members and has helped users achieve $900 million in savings goals.

PocketGuard is all about simplifying personal finances to make it easy to stay on track. You can link all your financial accounts in one place, track balances, and see your net worth in real-time.

Here are other features PocketGuard includes:

• Bill reminders: Never pay a bill late again with PocketGuard’s bill reminder. You’ll pay your bills on time and feel confident you have the money to do it.
• Monitor cash flow: Watch your cash flow and spending categories to ensure your net worth is where you hoped.
• Know what’s free to spend: It’s never good to spend without knowing what you have available. PocketGuard helps you instantly know what’s in your pocket that you can spend.

It’s a great Mint alternative and offers a simple 5-step process to import your Mint data to PocketGuard.

9. EveryDollar

EveryDollar is a Dave Ramsey program that helps you be more confident about your finances, budget, and spending patterns. Its goal is to help you take control of your finances and feel in charge of your money rather than your money being in charge of you.

EveryDollar claims that within the first month, you’ll find $395 in extra money, cut your expenses by 9%, and sleep better at night, knowing you have a good chance of reaching your financial goals.

Like many Mint alternatives, EveryDollar has a free and premium version. The free version offers a customizable budget and savings funds, but the premium version offers the following:

• Account syncing: You can automatically link and sync accounts from your financial institutions to know your cash flow in real-time.
• Paycheck planning: Plan your cash flow so you stop overdraft fees, late payments, and unnecessary panic attacks between paydays.
• Savings goals: Set your goals and work toward them, monitoring your progress for short and long-term goals.
• Financial coaches: Get access to finance professionals who can help you make important financial decisions.

EveryDollar is a robust Mint alternative; however, you cannot upload Mint data to EveryDollar currently.

10. Goodbudget

Goodbudget is a budgeting app available in the iOS and Android stores. Think of it like the paper envelope system but virtual, so you don’t have to mess with paper envelopes.

It’s the budgeting app built for everyday life that helps you split your income into categories and track spending to ensure you don’t go over in any category.

Goodbudget doesn’t have all the bells and whistles other Mint alternatives have, but it helps families stay within their budget and reach their savings goals.

How To Choose the Best Mint Alternative

When comparing Mint alternatives, there are several factors to consider.

Cost

Most Mint alternatives have a cost, either monthly or annually. Choose the app with the fee that fits your budget and is worth paying for because you’ll use its features. Otherwise, you’ll defeat the purpose of using a budgeting app.

Data Migration

How do you want to input your information? Most apps offer automatic syncing, but not all do. If manual input isn’t on your to-do list, look for budgeting apps with automatic syncing.

Functionality

A budgeting app doesn’t do you any good if it doesn’t offer the features you need. Think about what you want outside of tracking your net worth. Do you want customized alerts, robust reporting, or savings goal trackers? Check for the features you find most necessary.

Security

No app should sell your information, and all should use bank-level security using services like Plaid. Look elsewhere if a budgeting app doesn’t take security seriously or mention it on its website.

Compatibility

Make sure the budgeting app you choose is compatible with your devices, whether a desktop, smartphone, or tablet.

What Is the Best Free Mint Alternative?

If you want a Mint alternative that’s 100% free, the Empower app is the best option. You get a free personal finance dashboard that tracks all your financial accounts in one place without any fees.

Of course, like most apps, there’s an option for paid services, like investment accounts, but you can absolutely use the app without paying anything.

FAQs

Which Mint Alternatives Are Most Similar to Mint?

Empower is the closest app to the Mint app because it’s free and tracks your net worth. Other apps similar to Mint include Monarch Money and Rocket Money, but both charge a fee.

Is PocketGuard Suitable for Tracking Spending?

PocketGuard is a great app to track spending. It tells you how much you have available after setting aside money for bills, necessary spending, and savings.

Is EveryDollar Suitable for Zero-Based Budgeting?

EveryDollar uses the zero-based budgeting method. This means you give every dollar a job, and no money sits idle, helping you reach your financial goals and learn how to live on last month’s income.

What Will Happen to My Mint Account?

Mint users have the option to download and delete their data from Mint until March 23, 2024. We recommend deleting your data to ensure it’s removed from the platform.

What Is the Best Option for Mint Data Migration?

Intuit encourages Mint users to migrate to Credit Karma, seamlessly transferring the data. If you prefer another Mint alternative, you must follow each app’s instructions. Most budgeting apps offer a data migration tool for Mint users, but not all do.

What Is the Best Alternatives to Mint for Calendar Budgeting?

EveryDollar is a good alternative for calendar budgeting. It helps you get in front of your bills so you can use last month’s income for this month’s bills, ending the paycheck-to-paycheck living.

What Mint Budget App Alternatives Allow Scheduled Bill Payments?

Most Mint app alternatives offer scheduled bill payments. YNAB, Tiller Money, and Monarch Money are all great alternatives that offer scheduled bill payments.

The Bottom Line

The best Mint alternatives are the apps you’ll use most consistently and don’t cost too much. Some apps are pricey but offer robust features, helping you get on track with your budget.

If you opt for a paid version of a budgeting app, ensure it has features you’ll use consistently and will help you create and meet monthly budgets, provide valuable insights, and provide the key features you need.

The post 10 Best Mint Alternatives To Manage Your Money in 2024 appeared first on 7 Saturdays Financial.

You don’t have to be a financial expert to help your kids learn the importance of handling money responsibly. Teaching kids the basic concepts about spending, saving, and reaching goals is the best financial education you can provide.

Why Teaching Kids About Money Is Important

Money management is a life skill, and it’s up to parents to teach kids how to manage money at a young age.

The more natural you make financial literacy for kids, the easier it is for them to grow up knowing how to have financial responsibility. While schools may teach kids the basic concepts about money, there is no better way to help kids learn than with a hands-on approach.

When Is the Best Age To Start Teaching Kids About Money?

The best age to teach kids about money is when they can count and understand basic concepts. You can start simple topics with most kids when they are toddlers or preschool age. The key is implementing as many strategies as possible but at an age-appropriate level.

12 Smart Strategies To Teach Kids About Money

Personal finance topics can feel overwhelming, even for adults, but here is how to teach kids about money.

1. Set a Good Example

Kids watch everything you do and hear everything you say. Make sure any conversations you have about money in front of them are positive and helpful.

Your goal is to set a good example, showing kids how to spend money wisely and what to consider when making important financial decisions.

You don’t have to include your kids in every money discussion, but know they are always watching and listening, no matter their age.

For example, when you go to the store, talk about your decisions, even if it’s as simple as choosing the cheaper box of cereal or sacrificing one thing you want for another. Let them see and hear the decisions you make daily.

2. Show Them How Money Works

You can teach kids how money works as soon as they can count! Use play money and have them count the coins or dollar bills. As they get a little older, play store and teach kids how to pay for items.

As you teach these lessons, help them understand they must ‘give up’ money to get the item they want. Explain to kids that everything has a cost: the money they must give up.

The earlier kids understand they must decide how they want to spend money and that it’s not an infinite resource, the easier it will be for them to understand financial security and how to make tough financial decisions.

3. Discuss Needs Versus Wants

Kids, especially younger kids, think they ‘need’ everything. Your job as an adult is to introduce children to the concept of needs versus wants. Needs are necessary for survival, and wants are things they could live without but are nice to have.

When your child asks for something, you should discuss whether it’s a need or want.

If it’s a want, help your child learn how to earn it, versus you handing over whatever they want. Let them see how you can purchase wants when you have extra money, but until then, wants aren’t necessary.

4. Teach the Value of Delayed Gratification

Along the lines of needs and wants is the concept of delayed gratification. As parents, you must teach children how to delay their gratification to achieve financial success.

For example, when you’re at the store and your child sees a toy or clothing item he ‘must have,’ don’t give in immediately. Instead, tell him you’ll think about it and return to it another day. At a young age, this teaches kids they can’t have everything they want immediately.

As your child ages, you can teach him how to wait and see if he still wants the item. Chances are, he’ll forget about it and move on after a day or two. If not, you can teach kids how to save for the item they want, buying it when they have the money available.

5. Encourage Goal-Setting With Their Piggy Bank

You can teach kids about money at any age, even as young as toddlers with piggy banks.

When kids get money, help them learn how to save it by putting it in their piggy bank. Younger kids may do better with a clear jar that allows them to see the coins and how they stack up each time they add more.

As kids age, you can teach them how to set goals and reach them with their piggy bank money. For example, if there’s a toy your 1st grader wants, help him earn money by doing chores around the house so he can see how to work for what he wants.

6. Establish a Reward System

You can establish a reward system with kids at an early age. Decide if you want to give your child an allowance or if you want him to learn to earn money in other ways.

For example, you can have a set weekly allowance you pay for doing age-appropriate chores or let your child ask you what he can do to earn money when he has a financial goal.

The key is to have a reward system your child understands and can learn how to work for what he wants.

7. Discuss Ways To Earn Money

You can teach kids ways to make money in elementary school if you’re willing to give them an allowance for doing chores at home. You can suggest jobs like pet sitting, mowing lawns, shoveling snow, or babysitting as they enter middle school.

Then, as they become the legal age to work in your state, encourage them to get a part-time or summer job.

Working not only helps them earn money, but it also teaches them other levels of responsibility. As kids learn to juggle work and school in their daily lives, they’ll learn to prioritize their time and responsibilities, which is how they begin learning to be responsible adults.

8. Let Them Have Their Own Checking or Savings Account

When your child has his own money, it’s also a good idea to let him have his own bank account. You can open a savings account for kids when they are first born or before they understand anything about money.

A checking account should be reserved for when they earn their own money, and you’re ready to help them develop good money habits.

Earning money is a responsibility, as is learning how to manage it. Many banks have apps that allow parental controls on how and where kids spend money. This allows kids to explore how to handle money themselves, but with some oversight.

9. Teach Opportunity Cost

Opportunity cost is just as important to learn as delayed gratification. When kids want something, they should learn the opportunity cost of what they must give up to buy it.

Not only are they spending money, but they are using that finite resource on one item and won’t be able to buy another.

This helps kids become good decision-makers. When faced with a choice, they’ll be better prepared to avoid impulse buys and be able to make trade-offs that make sense instead of putting themselves into debt.

10. Teach Kids How to Budget

It’s time to talk about budgets when kids hit their teen years. You don’t have to make it complicated, but the more used to budgeting they are, the easier it will be for them as an adult.

If your teen has a part-time job, help him split his funds between needs, wants, and saving money. This reinforces the 50/30/20 budget that many adults use and helps kids understand good money management skills.

11. Use Real-Life Scenarios

Don’t be afraid to share real-life stories with your children! Even better, include them in your money decisions or money management so they can see how to make real-life decisions, especially in the teen years.

For example, if you’re buying a new appliance, let your children see how you decide on the one you purchase. Also, show them how you pay for it.

If you finance the purchase, teach kids how that works. If you’ll pay the balance in full when it comes, let them watch you write the check or pay the balance online.

Talk about how credit card offers may seem enticing but can cost you more in the long run. You can even share your own credit card stories if you have a history of credit card debt.

12. Encourage Giving

No matter your child’s age, always encourage giving. Teach them to think about others and reserve even a small portion of their money to give to others. Young kids can save coins or host a lemonade stand to raise money for a cause that speaks to them.

FAQs

When Should I Start Teaching My Child About Money?

The earlier you talk money with your child, the more natural money decisions will be for him.

Keep your lessons age-appropriate, but always make money seem like a natural part of life and that the decisions aren’t stressful. This will help kids grow up with a positive money mindset and to use money responsibly.

How Can I Make Money Lessons Fun and Engaging for My Kids?

Money can be fun! Make games out of your lessons, or incorporate ways to teach kids about money in their everyday tasks. When you take them grocery shopping with you, they’ll learn about money.

The same is true when you give money at church, talk about bills in front of them or role-play. This way, it doesn’t feel like a lecture and, instead, a way to connect with you.

Are There Specific Games or Apps That Can Help With Financial Literacy?

A great way to give kids a hands-on way to learn about money is to play the Game of Life or Monopoly. These games include ‘real money’ they can use to learn opportunity cost, how to make decisions, and, of course, the importance of saving money.

Should I Introduce My Kids to the Concepts of Credit and Debt?

Yes, the more natural you make credit and debt, the more educated decisions young adults will make.

If kids constantly see you swiping plastic to pay for things, they won’t understand the true impact of spending money. Especially in their teen years, talk about credit cards, how they work, and when you should and shouldn’t use them.

What if I Don’t Feel Confident in My Own Financial Knowledge To Teach My Kids?

If you worry about your own personal finance decisions, consider enlisting the help of another trusted adult, like a grandparent or aunt/uncle, to teach your kids about money.

The Bottom Line

Instilling financial literacy in children is a crucial aspect of parenting. You may wonder how to teach kids about money that will leave them with a solid understanding and open up their minds for the future.

By using our twelve strategies above, setting a positive example, and introducing concepts gradually, you can empower your kids to make informed and responsible financial decisions.

The post How To Teach Kids About Money: 12 Smart Strategies appeared first on 7 Saturdays Financial.

Without employer coverage, you are responsible for your insurance, whether a short-term health insurance plan or something longer-term if you retire well before age 65.

How Much Does Health Insurance Cost for Early Retirees?

Early retirement can be a great way to enjoy life to the fullest, but there are many expenses to consider, including health insurance costs. The average individual healthcare plan from the Healthcare Marketplace is $438 a month without any subsidies.

The cost can vary greatly depending on the type of plan, who’s covered, where you get the insurance plan, and whether you extend coverage from your employer, join a health-sharing plan, or buy a marketplace health insurance plan.

In addition to the insurance premiums, you must also cover the deductible. Private health insurance plans usually have higher deductibles to make premiums more affordable.

This means you’re responsible for a larger portion of the medical expenses than you would with a plan with a lower deductible.

Is Health Insurance Cheaper for Retired People?

If you retire at age 65 and activate your Medicare benefits, health insurance may be cheaper in retirement.

However, you cannot access these benefits until age 65, so if you retire early, you will likely pay much more in insurance premiums than you’re used to with your employer-sponsored health insurance.

How To Get Health Insurance in Early Retirement

When you no longer work for your employer, you may lose your employer’s health plan. That’s why planning before you retire is crucial.

Depending on the size of the company you worked for, your employer may be required to extend coverage options for your employer-sponsored insurance.

You also have the option to apply for Medicaid, add yourself to your spouse’s insurance plan, or consider health-sharing plans.

Top 3 Health Insurance Options for Early Retirement

If you aren’t disabled and your income didn’t decrease much after retiring, Medicaid may not be an option. COBRA, health-sharing plans, and the ACA Marketplace plans are the most commonly used options when considering health insurance options in early retirement.

1. Consolidated Omnibus Budget Reconciliation Act (COBRA)

COBRA coverage is an extension of your employer-sponsored plan. Your coverage doesn’t change.

However, your premiums do. If your employer covered a percentage of your health insurance premiums while you were employed, they will likely no longer do that, leaving the entire premium to you. Most employers allow you to use your COBRA coverage benefits for 18 to 36 months.

While the premiums will likely increase, there are benefits of using your COBRA benefit:

• It’s a group plan: Group insurance plans often have better coverage, lower premiums, and deductibles. Even though you must pay 100% of the premiums, your out-of-pocket maximums, deductibles, and coverage doesn’t change.
• Pay from your HSA: If you still have HSA funds, you can use them to pay your COBRA premiums.

2. Health-Sharing Plans

Health-sharing plans are run by organizations, usually faith-based groups or other organizations with similar beliefs or something in common.

The premiums for health-sharing plans may be lower than other options because you aren’t purchasing a health insurance plan from a health insurance company. Instead, you pool your funds with other plan members, and the organizer holds the funds in an escrow account.

When you have medical expenses, you use a portion of the pooled funds if it’s a covered event. Because this isn’t a health insurance plan, there are often many rules and exclusions to keep the costs down while helping to cover medical costs.

3. ACA Marketplace

The Affordable Care Act Marketplace is the most common way to get health insurance coverage during early retirement. The open enrollment period for the healthcare marketplace begins November 1 and ends January 15 in most states.

The nice thing about ACA coverage is everyone is accepted regardless of their pre-existing conditions; no one can be denied. Another benefit of the ACA marketplace plan is you may be eligible for premium tax credits, depending on your income.

The tax credit is a government subsidy to make insurance premiums more affordable. However, the subsidy is directly tied to your income, so the more you make, the lower the credit.

You can use the Kaiser Family Foundation Health Insurance Marketplace calculator to determine the estimated cost of insurance coverage for you and your family during early retirement, including any potential subsidies.

Additional Early Retirement Health Insurance Options

The three methods above are the most common and attractive ways to secure health insurance in early retirement, but there are a few other ways you may consider.

Part-Time Job

You probably didn’t envision yourself working in retirement, but some people don’t like the downtime and would rather fill it working at a job they love, or at least a less stressful job.

Fortunately, many companies, like Costco and Starbucks, offer health insurance coverage for part-time employees working 20 to 24 hours a week.

Private Insurance Coverage Purchased Outside of the ACA Marketplace

If you have specific healthcare needs or need an option to see out-of-network providers, you may consider a private insurance policy. These are policies purchased outside of the ACA Marketplace, so they don’t include any tax benefits.

Healthcare.gov offers a Finder Tool to help you locate private health insurance to compare to the healthcare coverage available from the Marketplace.

Restrict Income to <1X Federal Poverty Level and Use Medicaid

Since you have control over your income during retirement, you can restrict it to remain below the federal poverty level so you are eligible for Medicaid. However, this may not be feasible for most families since the federal poverty level for a two-person family is $19,720 per year.

Factors Affecting Health Insurance Costs for Early Retirees

When considering how much health insurance costs for early retirees, you must consider the health insurance cost implications, including the following:

Age

The older you are, the more your insurance premiums increase. Like any insurance coverage, health insurance companies charge premiums based on your riskiness of filing a claim.

As you age, your risk of having health issues increases, which is why health insurance companies charge higher premiums.

Location

Where you live determines the cost of your health benefits. Health insurance covers some or all of the health care costs you incur. If the costs are high in your area, your monthly premiums will cost more than if you lived in a lower-cost area.

Health Status

If you purchase retiree health insurance from any source other than the Healthcare Marketplace, you may pay higher premiums for pre-existing conditions or health risks.

ACA plans cannot deny coverage or charge higher premiums for pre-existing conditions, but the same rules do not apply to plans outside of the Marketplace.

Coverage Options

Most insurance plans have multiple coverage options, and the different levels have varying costs. The more variations you require, the more the insurance costs.

For example, if you need to see out-of-network doctors or need special coverage, such as chiropractic care or mental health coverage, it can increase the cost.

Family Size

The more people you must insure, the higher the premiums. Most retirees only have themselves and their spouse to cover, but if you still have children at home, you may need to include them in your plan, increasing the cost.

Income

If you choose an ACA Marketplace plan, your premiums directly relate to your income. The more money you make in early retirement, the lower the premium tax credit you’ll receive, leaving you responsible for a larger amount of the total premium.

Plan Type

Most insurance companies have options for an HMO or PPO plan.

HMO plans often have lower premiums in exchange for more restrictions, such as requiring that you see your primary care physician before seeking specialist care. Without a referral, the HMO policy may not cover the expense.

PPO plans may have higher premiums, but they provide more flexibility in choosing your providers and seeing specialists without a referral.

Deductibles and Out-of-Pocket Maximums

The deductible is the amount you’re responsible for paying before the health insurance company covers any portion of your healthcare expenses. The higher the deductible you take, the lower the premiums insurance companies charge, and vice versa.

The same is true of out-of-pocket maximums. This is the maximum amount you’re required to pay in a calendar year for your healthcare expenses.

If you reach that limit, the insurance company usually covers 100% of the remaining qualified medical expenses. The more responsibility you take for the out-of-pocket maximum, the less you’ll pay in premiums.

Insurance Provider

Every insurance provider has different costs depending on the type of coverage they offer. It’s always a good idea to get quotes from several providers to see which offers the most affordable yet comprehensive coverage during early retirement.

Tips To Lower Your Health Insurance Costs as an Early Retiree

While health insurance costs can be high during early retirement, there are some ways to minimize the costs:

• Keep income to a minimum: Try keeping your income as low as possible until you’re eligible for Medicare. The less money you make, the higher the premium tax credit you receive, lowering your insurance premiums.
• Build a cash cushion: Have money saved to cover your healthcare expenses so you can take a higher deductible and lower your premiums.
• Explore all options: Consider all your options for health insurance during early retirement, including COBRA coverage, ACA plans, and any private insurance plans available.

FAQs

What Is the Best Health Insurance for Early Retirees Under 65?

Most people in early retirement find the best health insurance on the Marketplace. The premium tax credits and multiple coverage options make it easy to find affordable coverage to bridge the gap until you are available for Medicare.

Can You Get Medicare Before Age 65?

You are only eligible for Medicare early if you have end-stage renal disease, ALS, or another qualified disability.

What Is the Average Medical Cost per Year in Retirement?

The average medical expense for a healthy couple in retirement is $16,155 annually and will increase as they age and according to the current inflationary rates.

Do You Have To Pay for Medicare if You Retire Early?

If you don’t have at least 40 work credits to get Medicare Part A, you may still be eligible for it, but for a premium, depending on the number of work credits you have.

Can Early Retirees Expect To Pay More for Health Insurance as They Age?

Everyone pays more for health insurance as they age. It’s the natural course of action because as we age, we naturally have more health issues and need more medical attention.

Health insurance companies typically increase the premiums accordingly to cover the higher expenses.

Can I Open My Own Health Savings Account if My Employer Doesn’t Offer One?

You can open an HSA yourself if your employer doesn’t offer one. However, you must have a qualified high-deductible health insurance plan to contribute.

Can Early Retirees Use Health Savings Accounts (Hsas) To Lower Healthcare Costs?

Yes, early retirees can use HSA funds to pay their healthcare costs. The only exception is the insurance premiums. You may only use HSA funds to pay COBRA premiums, not marketplace plan premiums.

How Can Early Retirees Compare and Select the Right Health Coverage Plan To Meet Their Needs and Budget?

The easiest way to find the best health insurance plan is to explore your options with the Marketplace, read your employer’s COBRA options, and use the Marketplace finder tool to explore private insurance options.

Compare all policies, including the premiums, deductibles, and coverage, to ensure you get the plan that meets your healthcare needs and budget.

The Bottom Line

Retiree health benefits include Medicare, which is something many early retirees overlook.

Even if you have a picture-perfect medical history, you’ll need medical insurance at some point to cover your qualifying medical expenses. Knowing how to find the best plan to bridge the gap until you’re eligible for Medicare is a big piece of the puzzle.

The post How Much Does Health Insurance Cost for Early Retirees? appeared first on 7 Saturdays Financial.

Typically, accessing retirement funds early results in penalties and taxes, but with a few steps, you can learn how to access retirement funds early.

How to Access Retirement Funds Early

Accessing retirement funds early may result in a penalty if you aren’t careful. Fortunately, there are a few simple ways to take money from your retirement accounts without paying penalties.

1. Rule of 55

If you have a 401K or 403b account, you may be able to use the Rule of 55 to escape the 10% early withdrawal penalty. This rule states that if you leave your employer within the year that you turn 55, you can take funds from your 401K or 403b account at your current company penalty-free.

There are Rule of 55 pros and cons because there are many stipulations. For example, for this rule to apply, you must have left your job and be 55 years or older within that year.

This only applies to the current 401K or 403b account. If you know you’ll leave the company and want penalty-free access to other retirement accounts, roll them over to your current 401K, if allowed, before leaving.

To use this rule, your company must allow early withdrawals, and you must follow the company’s rules regarding withdrawal limits. For example, some companies may limit the amount of withdrawals, and others may only allow a lump sum withdrawal.

Keep in mind that you will be responsible for the taxes on your withdrawals. They are only penalty-free distributions, not tax-free.

2. SEPP/72t Withdrawals

The Internal Revenue Code 72t or SEPP allows early withdrawals from your IRA or employer-sponsored retirement account if you take substantially equal periodic payments.

Withdrawals that qualify as SEPP aren’t subject to the 10% early withdrawal penalty. However, there are strict rules they must follow:

• You must take substantially equal periodic payments annually.
• You must take the distributions for at least five years or until you hit age 59 1/2, whichever is longer.
• You must pay applicable taxes for the year you take the distributions.

You can determine your withdrawal amount based on an amortization method that considers your life expectancy.

Use the IRS’s required minimum distribution method, which changes the required distribution amount annually. Or use an annuitization method that uses an annuity factor provided by the IRS based on current interest rates and your age.

3. Roth Conversion Ladder

If you saved most of your retirement funds in a pre-tax retirement account, you can’t access them in most cases until 59 1/2, or you’ll pay the 10% penalty plus taxes. However, funds in a Roth IRA account can be withdrawn penalty-free as long as they’ve been in the account for five years.

If you don’t have adequate (or any) funds in a Roth IRA, you can use the Roth IRA conversion and convert a portion of your traditional IRA to a Roth IRA.

Keep in mind that when you convert funds, you’ll pay taxes at your current tax rate, so it’s best to convert funds periodically versus in one lump sum. The Roth conversion ladder is a method some use.

It means you convert funds based on your expected annual needs in five years. You can withdraw those funds exactly five years from the conversion date without paying the penalty. This should provide a steady stream of retirement income.

4. Pay the 10% Penalty

Of course, you always have the option to withdraw funds and pay the 10% penalty. If you’ve exhausted any of the above options and still need the funds, you can pay the penalty; just try to limit it to as few years as possible.

This method may even make more sense if your taxable income is $0 after deductions and exemptions. This may happen if you’ve already retired and your only income is the money you withdraw.

If you keep the distribution within the standard or itemized deductions you are eligible to receive, you only pay the 10% penalty and no taxes.

Is Withdrawing Retirement Funds Early a Good Idea?

Withdrawing retirement funds early can help supplement your income, especially if you retire early, but it’s not always in your best interest. Talking to your financial advisors is important to ensure you’re not creating financial challenges later in life.

If you create a solid plan to make your retirement savings last throughout your life expectancy, strategically withdrawing funds doesn’t have to hurt your financial future.

However, tapping into your retirement savings just because they’re there and you want something now versus using the funds for living expenses in retirement isn’t the best idea.

Reasons for Accessing Retirement Savings Early

Everyone has different reasons for accessing retirement savings early. Here are a few common reasons:

• Early retirement: If you stop working before age 59 1/2, you may need access to your retirement savings to have adequate funds for living expenses until retirement age.
• Hardship: If you experience financial difficulties or an unexpected hardship, such as extensive medical bills, you may need to access your retirement savings early.
• Education: Higher education expenses increase annually, and sometimes, using IRA funds versus student loans is less expensive. Some expenses may be penalty-free if they meet the IRS requirements.

What Is the Penalty for Early Withdrawal of Retirement Funds?

If you don’t qualify for any of the above methods for early withdrawals, you may be subject to a 10% early withdrawal penalty. This applies to each non-qualified early withdrawal you make. You’ll also be responsible for any income taxes.

Pros and Cons of Early Retirement Fund Withdrawals

Pros

• You may have options for penalty-free withdrawals.
• You can supplement your income if you retire early.
• You may avoid unnecessary interest charges on loans.

Cons

• It can be hard to qualify for one of the early withdrawal exceptions.
• You still owe taxes on any withdrawals except Roth account withdrawals.

Alternatives To Accessing Retirement Funds Early

It’s typically best to withdraw from retirement accounts early as a last resort. Here are some alternatives to consider first:

• 401K loan: You may be eligible to borrow from your 401K. This doesn’t incur penalties or taxes, but you’ll pay interest and must repay the full amount owed within five years.
• Line of credit: If you have equity in your home, you may borrow against it with a HELOC. They typically have low-interest rates and favorable repayment terms.
• Personal loan: Financial emergencies sometimes require funds fast, and a personal loan may offer that option. You can receive a lump sum within a day or two after approval in most cases.
• Part-time job or side hustle: If you can still work (and want to), consider starting a side hustle or finding a part-time job to supplement your income during early retirement, reducing how much you must take from retirement accounts when retiring early.

FAQs

How Much Can I Withdraw From My Retirement Account?

How much you can withdraw from your retirement accounts and how much you should withdraw are two different stories. You can withdraw as much as the account administrator allows.

However, you’ll pay taxes on the amount withdrawn, which can be hefty if you withdraw large amounts.

Ideally, you should take 4% or less of your retirement account balance to ensure your retirement savings lasts throughout your lifetime.

Can I Borrow From My Retirement Plan Instead of Making an Early Withdrawal?

Sometimes, borrowing from your 401K instead of withdrawing funds makes more sense. You avoid the early withdrawal penalty and taxes when you borrow money. Keep in mind, though, that you must repay the amount borrowed with interest.

Can I Avoid the 10% Early Withdrawal Penalty From My IRA for Certain Expenses?

The IRS has certain exceptions for the early withdrawal penalty, including:

• Birth or adoption expenses.
• After the death of an IRA owner.
• Permanent disability.
• Higher education expenses.
• First-time home purchase.
• Terminal illness.
• Unemployed health insurance.

How Long Does It Take To Get Retirement Money?

After cashing out your 401K or other retirement accounts, receiving the funds can take 7 to 10 business days.

Which Retirement Funds Should I Withdraw First?

Ideally, you should withdraw funds from taxable retirement accounts first. This allows tax-deferred accounts to continue growing without the risk of increasing your tax liability. It also helps lower the amount of taxes owed in your later years.

How Do You Calculate Substantial Equal Periodic Payments for a 72t Distribution?

The simplest method to calculate substantial equal periodic payments for a 72t distribution is to take your account balance and divide it by your life expectancy. You can recalculate this number at the end of each year.

Can I Use the Rule of 55 and Still Work?

You can work another job using the Rule of 55. However, you must keep your 401K with your old employer to continue taking distributions without penalty.

What About Roth IRA Early Withdrawal Penalties?

If you withdraw from your Roth IRA before age 59 1/2 and before your funds have been in there for five years, you’ll pay the same 10% penalty plus applicable taxes.

What Qualifies for a Hardship Withdrawal?

The IRS defines a hardship withdrawal as a withdrawal for a heavy and immediate financial need. Common reasons are medical or funeral expenses; however, each 401K administrator can define hardship for their accounts. Other examples include

• Immediate and necessary home expenses.
• Higher education expenses.
• Payments to avoid foreclosure or eviction.

Do I Need To Show Proof for Hardship Withdrawal?

The IRS does not require employers to provide proof of hardship for withdrawal. However, keeping documentation in case you are audited is always a good idea.

Can I Cash Out My 401K While Still Employed?

You can cash out your 401K from previous employers while employed, but you’ll pay early withdrawal penalties if you are not yet 59 1/2. Your current employer may have rules regarding whether you can cash out your current 401K while still employed.

At What Age Is 401K Withdrawal Tax-Free?

The IRS determines the retirement age to be 59 1/2. Withdrawals made after this age are free from the early withdrawal penalty.

The Bottom Line

Knowing how to access retirement funds early without penalties is crucial to your retirement.

The tax code allows several exceptions to the 10% penalty, but it’s best to consult your tax or financial advisor to determine the best course of action.

The post How to Access Retirement Funds Early: 4 Possible Ways appeared first on 7 Saturdays Financial.

The key is consistency, choosing the right investments, and constantly looking for ways to earn passive income.

Importance of Wealth-Building for Engineers With High Income

Highly paid engineers often have more money than they know how to handle. Knowing where to invest money to build wealth and reach your financial goals is key.

There isn’t a once-size-fits-all approach to your wealth-building journey; it depends on your financial goals, risk tolerance, and timeline.

Whether saving for retirement, buying a house, or having an emergency fund, wealth-building for engineers is just as important as it is for people in any other industry.

The Best Ways To Build Wealth for High-Earning Engineers

Like people in any industry, there are many ways to achieve financial security. Given your high salary and a standard financial plan, the methods below are the best ways to build wealth.

1. Qualified Retirement Accounts

No discussion about building wealth would be complete without discussing retirement savings. Everyone must have retirement accounts established, whether employer-sponsored or individually owned; however, qualified retirement accounts are the most advantageous.

What Is a Qualified Retirement Account?

Your employer offers qualified retirement savings accounts to support employees and their families during retirement.

There are several options, and the choices you get are those your employer offers. Most employer-sponsored retirement savings plans allow employer and employee contributions to build wealth faster.

Different Types of Qualified Retirement Account

401(k) Plans

These are the most common retirement accounts. You determine the percentage of your paycheck you want to dedicate to your 401(k), and your employer automatically deducts the amount each payday.

Many employers also match your contributions to a certain percentage of your income, usually 1% to 3%.

403(b) Plans

Non-profit schools, hospitals, and charities offer 403(b) plans, which are the equivalent of 401(k) offered in for-profit companies. Employers defer a predetermined percentage of your paycheck to your retirement savings; some may match your contributions to a certain level.

Savings Incentive Match Plan for Employees (SIMPLE) IRAs

Small employers who have less than 100 employees can offer a SIMPLE IRA, which has fewer requirements than a 401(k), making it easier for employers.

Employees can defer a percentage of their income, and employers can match up to 3% of an employee’s contributions (optional).

Employers can also offer a 2% non-elective contribution for each employee, which guarantees employees at least 2% of their pay saved for retirement annually.

Simplified Employee Pension (SEP) IRAs

Employers of any size who want to support their employees during retirement can set up a SEP IRA and contribute up to 25% of each employee’s income.

Employees do not contribute to the pension plan but are 100% vested from day one.

Profit-Sharing Plans

Employers willing to share some of their profits may add a profit-sharing plan to their retirement offerings. Contributions to a profit-sharing plan are from the employer only, and they are voluntary (not required), so don’t rely on them as your only wealth-building strategy.

Benefits of Contributing to a Retirement Account

Saving for retirement may seem unnecessary if you’re beginning your career, but that’s the best time to start saving money.

Whether or not you’re lucky enough to have an employer-sponsored retirement plan with employer contributions, saving allows the funds to grow, helping you build long-term wealth.

Many retirement accounts also have tax advantages. For example, a traditional 401(k) allows you to defer a percentage of your income for retirement.

This means you don’t pay taxes when you earn the income. Instead, you pay taxes when you withdraw the funds during retirement.

The goal is to be in a lower tax bracket during retirement to reduce the tax burden and keep more money in your pocket.

Strategies To Maximize Contributions and Tax Advantages

Depending on your employer, you may have various retirement account options. Most offer a 401(k) or 403(b), but smaller employers may have other options. No matter the type of account, here are some strategies to save as much money as possible.

Contribute at Least the Employer Match

Determine how much your employer will match and contribute at least that much. This ensures you get the ‘free money’ offered by your employer just for setting money aside for retirement.

Watch Tax Requirements

Determine when you want to save money on taxes and choose your retirement account accordingly. For example, if you want to reduce your tax liabilities now, you could contribute to a traditional 401(k).

However, if you’d rather have tax advantages during retirement, consider a Roth 401(k). Roth accounts have after-tax contributions, but all withdrawals (after retirement) are tax-free.

Increase Contributions When Income Rises

Each time you get a raise, increase your preset contributions to account for the higher income.

Pros and Cons

Pros

• Potential employer match.
• Potential tax advantages.
• Automated savings to build wealth.

Cons

• Limited investing options.
• May face vesting schedules.

2. Taxable Brokerage Accounts

After exhausting your employer-sponsored accounts to get an employer match or once you’ve reached the maximum contributions allowed for your account, taxable brokerage accounts are another option.

What Is a Taxable Brokerage Account?

You can own a taxable brokerage account yourself or jointly with a spouse. They are taxable because there aren’t any tax advantages like retirement accounts, so it’s important to watch your tax liabilities from capital gains.

What Can You Do With a Taxable Brokerage Account?

Taxable brokerage accounts allow investments of all types, including stocks, bonds, crypto, forex, and alternative investments.

Each broker offers different investment options, so determine what they offer before choosing a brokerage while also considering the fees they charge.

Benefits of Taxable Brokerage Accounts

Even though taxable brokerage accounts don’t have tax benefits, there are other ways to benefit, including:

• Easily accessible: Unlike retirement accounts, you can withdraw funds from taxable investments whenever you want. Be sure you understand the tax consequences or potential losses when selling an investment, but you won’t pay any penalties for cashing in on an investment.
• Diversified portfolio: Retirement accounts only allow options the company offers, which can be limiting. When you choose your own broker, you have more options in the types of investments you choose.
• Tax loss harvesting: When saving and investing, you can use tax loss harvesting strategies, which means when you sell an asset for profit, you also sell off an investment that’s losing. The losses offset the gains, reducing the taxes owed.
• More control: You have much more control over taxable accounts versus retirement accounts. You don’t have to follow maximum contribution allowances or minimum distribution requirements. You can also buy and sell investments much easier.

Different Investment Options Within Brokerage Accounts

• Stocks: Investing in individual companies allows you to earn some of their profits when they do well and experience losses with them when they don’t. The stock market is volatile, but if you stick with it long-term, it usually has a 10%+ rate of return.
• Bonds: If you want a more conservative investment, government bonds are a great way to build wealth. The interest rate paid on government bonds is much lower than the stock market’s rate of return, but diversifying your portfolio with conservative investments is important.
• Mutual Funds: If you prefer to invest with others, you can pool your money with hundreds of other investors. This allows the mutual fund manager to purchase stocks, bonds, and alternative investments for each investor to own a fractional portion for investing.
• Exchange-Traded Funds (ETFs): A less risky way to build wealth with a pool of other investors is ETFs. You pay an ETF manager to invest your funds in a basket of securities that tracks a specific market, most commonly the S&P 500. ETFs are passively managed, so the fees are much lower than mutual fund shares.

Tips on Managing Taxable Brokerage Accounts Effectively

You can manage your taxable brokerage account yourself using a professional advisor or a robo-advisor (aka computer) to manage it for you.

When managing your account, consider these tips:

• Focus long-term: Don’t get caught up in the emotions of investing. When you invest in an asset, leave the funds for a long period to realize its true rate of return.
• Find passive income investments: Look for investments that offer passive income, such as dividend stocks. If you reinvest the dividends earned, your earnings grow faster.
• Diversify: Keep a diversified portfolio with ‘risky’ investments, such as those in the stock market, less volatile investments, such as bonds, and even put money in deposit accounts to earn compound interest.

Pros and Cons

Pros

• More options for investing.
• Complete control over your accounts.
• Ways to get around tax burdens.

Cons

• Can face higher fees if not sure how to manage accounts.
• Easier to make emotional decisions and lose money.

3. Real Estate Investment

Real estate is one of the best ways to build wealth. You don’t need to be rich to do it, either. You have options if you’d rather invest only a small portion of your income in real estate.

Advantages of Real Estate as an Investment Option

Real estate is sometimes a hedge against inflation and works opposite the stock market.

You don’t have to worry about the performance of individual companies but, instead, the real estate market as a whole. You can buy real estate outright or invest with other investors, owning a percentage of residential or commercial properties.

Different Types of Real Estate Investments

• Residential Real Estate: Invest in single-family homes, condos, or townhomes, renting them to tenants and acting as a landlord. You can also purchase residential properties to fix and flip, selling them for a profit after renovating rundown properties.
• Commercial/Industrial Real Estate: High-earning individuals may be able to afford commercial or industrial properties. Buying properties and renting them out is a great source of passive income and helps diversify your wealth-building strategies.
• Real Estate Investment Trusts (REITs): If you’d rather not own real estate yourself, REITs are investments in real estate trust companies that purchase commercial real estate and sell shares of their assets to investors. You earn a prorated amount of the earned income from rent plus money from the capital gains.
• Real Estate Crowdfunding: You can also choose properties to invest in yourself by joining a real estate crowdfunding platform. You pool funds with other investors, either owning a property’s equity or providing the loan (debt).

Factors To Consider When Investing in Real Estate

Investing in real estate has its risks, of course. As we’ve all seen, the market isn’t predictable, so there is a chance of loss.

The key is to understand the market, research the locations, and determine the best areas to achieve your real estate goals. This includes buying and holding to rent to tenants, fixing and selling, or purchasing commercial property.

Pros and Cons

Pros

• Not tied to the stock market.
• Great hedge against inflation.
• Can leverage investment with financing.

Cons

• You can’t predict how the market will perform.
• It can require large investments.

Is It Possible To Combine Multiple Methods for Optimal Wealth-Building?

The best way to build wealth means mixing and matching your wealth-building plan. Sticking to one opportunity puts all your eggs in one basket.

Instead, you must diversify to set up a solid foundation, which means putting your money in various investments.

This will make a big difference if and when the markets take a nosedive. If you have all your money in one investment, you lose everything.

However, if you diversify your investments, you may offset some losses with gains in other areas.

When Should I Consider Consulting a Certified Financial Planner for Wealth-Building Advice?

When creating a wealth-building strategy, consulting a certified financial planner is always a good idea. Financial experts can ensure you choose the right ways to grow your wealth.

You may learn about opportunities you didn’t know existed or learn how to diversify your portfolio best to maximize earnings and minimize tax liabilities.

FAQs

When Is the Right Time To Start Investing as an Engineer for Accumulating Wealth?

Engineers should start investing as soon as possible. The younger you are when you invest, the more time the money has to grow.

Even if you think you don’t have much net worth right now, it will grow, but you must take that first step.

What Is the Fastest Way To Build Wealth for High-Earning Engineers?

There isn’t a one-size-fits-all approach to building wealth for high-earning engineers. The key is to choose a method that fits your risk tolerance and helps you meet your financial goals.

For some, this may mean aggressively investing in the stock market; for others, it may mean more conservative investments in bonds and deposit accounts.

How Can High-Earning Engineers Balance Risk and Reward in Their Wealth-Building Approach?

Diversification is the key to balancing risk and reward. You need aggressive and conservative investments for higher earnings to offset the risk.

So even though the interest rate paid by a high-yield savings account may not sound like much, it’s a ‘sure thing’ and can offset the riskier stock market investments.

Can I Achieve Financial Independence Through Wealth-Building as a High-Earning Engineer?

It is possible to achieve financial independence by wealth building.

The key is to get out of high-interest debt and create a budget that meets your basic needs while allowing you to save and invest enough money to reach your financial goals.

The Bottom Line

Knowing the best ways to build wealth as a high-earning engineer is the first step to reaching your financial goals.

Next is putting it all together, which is best done with a financial expert. If you’re ready to turn your financial life around and build wealth, contact us for your Free consultation today.

The post 3 Best Ways To Build Wealth for High-Earning Engineers appeared first on 7 Saturdays Financial.