For some workers in the public sector, the answer might be “most definitely,” you can retire young.   People who work in local and county government tend to retire at an earlier age than most other workers. Why? Well, they are our police officers, firefighters, and public... Continue reading »

We’d all like to be debt-free, but for most of us that would take a very long time and a lot of discipline. But even while we continue to diligently pay the bills each month, we can change the way we pay off each of our different debts to get closer to living the debt-free... Continue reading »

Many workers have a retirement savings account through their employer’s 401 or 457 plan. But does it make sense to also have an IRA? If so, when should you start saving in one? And, which one is the right one for you?   You can contribute up to $5,000 to either a... Continue reading »

Concerns about the fiscal health of state and local governments have been receiving a lot of press. 88% of city finance officers recently surveyed by the National League of Cities indicated their cities are “less able to meet fiscal needs than they had been” (see chart... Continue reading »

For many of us, owning a home can be a dream come true — and being at risk of losing a home can be a nightmare. But if you find yourself struggling to make mortgage payments for any reason, the worst thing you can do is go back to sleep and ignore the problem.   Your... Continue reading »

When I started working full time, I had lots of priorities: student loans, rent, food, and of course, entertainment. Retirement savings didn’t even make the list. Then I got a job where my employer contributed fifty cents for every dollar I put into the company’s defined... Continue reading »

Even if you can retire young because your finances are in order, a good question to ask yourself is “Should I retire young?”   I wrote an article that asked the question “Is it possible to retire young?” and many readers wrote in to say it is possible, particularly if you... Continue reading »

Your retirement plan is a nest egg for your future, a way to avoid becoming a burden on your family in your old age, and a strategy to reduce your tax bill.   But should it also be an easy source for a loan?   You may not have known, but some retirement plans allow... Continue reading »

To many this question is only the name of a popular television game show, but for others it is a retirement goal. If it’s your goal, I’ll bet you’ve wondered just how to get there.   For one thing, you have to make retirement a priority and start saving now. The earlier... Continue reading »

Even if your credit score has taken a hit, a few key moves can help bring it back — and help you get better rates on a mortgage, credit cards, car loans, and even your car insurance.   Check your credit report. Go to AnnualCreditReport.com to get a free report from each of... Continue reading »

One option to consider when deciding how to save your money is a Certificate of Deposit (CD). A CD is generally considered a low-risk investment option, typically available from a bank or credit union, which provides you with a fixed-interest payout. The amount of the interest... Continue reading »

Used as a savings instrument, a CD (Certificate of Deposit) offers a fixed interest rate that is guaranteed. And it’s usually a small step up from what savings accounts offer, particularly in the current market. (Historically, a CD account generally yielded a noticeably higher... Continue reading »

I used to think I could predict the outcome of football games. Then my dad made a bet with me: that my mom, who knew absolutely nothing about football, could beat me over the remainder of the season. My mom made her predictions based on which city she liked more. You can guess... Continue reading »

While snowed in during last February’s historic snow storm on the East Coast, my wife and I went through our CD collection. We found CDs that we either had not listened to in years or CD cases that we never even cracked open — a total waste of money.   I remembered that a... Continue reading »

Do you hear yourself saying, "I have plenty of time to save" or "I can do it later…"? Well, that's the voice of procrastination, a persistent, relentless pest that can easily steal time and money from you.  One of the easiest ways to start saving both time and money is by... Continue reading »

Ever raced against a friend when you were younger or even in gym class… just waiting for someone to say “Go!” so you can take off? Well here it is…“Go!”   Except instead of running, you simply need to start saving for retirement.   If you’re wondering just... Continue reading »

Your credit score can make a huge difference in your finances, even if you aren’t about to buy a house. A good score can save hundreds of dollars on your auto insurance premiums, credit card interest rates and auto loan, in addition to your mortgage. A bad score can make it... Continue reading »

Behavioral economists — yes, they exist — talk about the tendency of humans to procrastinate. And yes, they apply that to retirement plans. Individuals often put off signing up for them and, even when they do sign up, put off increasing their contributions over... Continue reading »

Most people who have achieved their dreams will tell you that it required more than a thought. It required action!   Think of a well-known athlete (e.g., Michael Jordan) or actor (e.g., Tom Cruise) or singer (e.g., Mariah Carey) and you’ll find that they all have something... Continue reading »

Turn on the tv, radio or Internet on any given day and you’ll see no shortage of news about the fiscal challenges facing many state and local governments. thedreambigsite.org was designed to help public sector workers realize their financial dreams and serve as a platform... Continue reading »