Talk to your children and grandchildren about money, how to build savings habits, what financial terms to understand and how to create a plan for their future.
In 2016, Social Security taxes are assessed on $118,500 of your taxable wages. Any wage above this is free from Social Security taxation which adds to your take-home pay once you cross this threshold. Plan to save this extra money.
Look for simple ways to save money. Adjust your thermostat when you’re out of the house. Shop insurance rates. Lower the temperature on your water heater. Buy in bulk. Review your media – cable, phone, online service.