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Over 50 Spending and Saving plan

Most of us know it is smart to save money for those big-ticket items we really want to buy — a new television or car or home
Yet you may not realize that probably the most expensive thing you will ever buy in your lifetime is your…retirement.

The cost of those future years is getting more expensive for most Americans, we live long after we retire — with many of us spending 15, 25, even 30 years in retirement — and we are more active.
Unfortunately, only about 54 percent of all workers are earning retirement benefits at work, and many are not familiar with the basics of investing.

What is your spending plan? How can you up your savings plan?
These questions have dogged me for a while that now I am over 50 and would like to change my career and putter in my garden or receive income passively.
Step one. Do you know how you spend each day, week or month? Getting a handle on spending and knowing where you are spending is crucial to making changes if necessary. What is important to you? I mentioned that I like gardening. This hobby/business can be expensive and impulsive. I choose to schedule my spending and spend small. I have one account for this hobby. I pay it off each month.
Step two. Do you have commitments to family or debts that never seem to go away? I have commitments to my family. My mother is elderly and sometimes her income does not cover her outlay and she needs some assistance. I set aside a monthly allowance for her and this gives her assurance she will be ok. The reason I do this is helping my mum stay in her home which is her choice. People who can stay in their homes do better than people who are forced into assisted living before their time. Have you visited a nursing home lately? I set up an account to help my mum and feel better about myself.
Step three. What about those debts that never seem to go away? This could be credit cards, student loans, auto loans or mortgage? The best attack for these debts is to pay more than minimum. I started paying these bad boys twice a month and saw the balance recede. If I had automatic payments, I had to increase the payment to cover monthly charges.
Step four. I have an ongoing educational program to increase my knowledge. The world is changing and we need to stay informed and become better consumers and choose a lifestyle. Read a book, financial newsletters and check out Yahoo finance.com I decided to learn more about investing and trading. One book that I recently read was How to think like a millionaire by Dr. Boyce Watkins. I became a member of mentor group. This helps me with taking baby steps and eventually take giant strides.
Step fiveIf you are over 50, what can you do to increase your savings for retirement? Nearly everyone has knowledge that can be converted into a business or an income producing project. Creating a side hustle before you leave your job. Write an ebook about something that you a passionate about. Declutter your space to find items that could be turned into cash. Learn about investing and trading. Pay your self first and start small. Check out micro-investing. (Acorn.Stash or Robinhood, Swell, Wealthsimple)
If you like these tips, I will be sharing more ideas. Come back and visit. Weekly I add more tips.

Happy Investing in yourself!
Chari Farmer Ogogo
Be Savvy, Live Wealthy

The Wealth Choice (daily steps)

Believe in yourself when no one else will. This is the law of FAITH.
The foundation of wealth is to look beyond appearances. The appearance of seeming failures missed opportunities and misfortune can be reconstructed to better days.

We must not give up on our dreams. These missteps are really the foundation of developing muscle, stamina and strengthens our core to move the obstacles and look for the diamonds within.

When we learn to block out the negative and concentrate on the possibilities, we can transform the impossible to possible. This is possible when we choose to see with new eyes the circumstances and pull out the good within. Use the good to our advantage. Do not look at the inconvenience, obstacles and cry out about the challenges. Learn to play the hand dealt and exercise faith.
Have a mission possible exercises. Use play and game-changing and perform daily the exercises that will garner your goal. It is the consistency of the steps that you take daily that will lead to success.

Here are steps that I use daily for choosing to be wealthier:
Become a lifelong student.
Learn more about investing and trading
Choose books to read that are supporting your goal. The Wealth Choice by Dennis Kimbro has rekindled my faith that wealth is possible.
Write about your vision. Journaling, publish a newsletter, blog
pay down your debt
Hang out with folks that share a similar vision
Know what you owe
Have a team of experts who can assist you along your journey.
Let go of past resentments and unforgiveness
Remove the clutter that binds you to
things that no longer serve you.

Happy Investing in yourself
Chari Farmer Ogogo


Thanks for stopping by to check out my updated blogs. I have grown and now I am ready to reset my blogs and share what I have learned and hope that my message will help.

My journey to recovery from a financial mess has provided me new insight. Initially, I thought that by having a goal was enough. What I learned was there was resistance on my part to let go of habits that were binding and stifling my progress. I would swing from being overly frugal to overspending.

When writing the book, Be Savvy, Live Wealthy, I encountered some major roadblocks of choosing mentors and assistance that were detours. I learned that DIY (doing it yourself) did not provide the professionalism and the desired final product. Some advice came with a high price tag and low quality.

How to select a great mentor–ask questions, ask to see their work and how they have helped others. Do they provide a guarantee for their service? Anyone who is professional will be willing to provide a guarantee and willingness to provide a refund if the services are not met.

Join a group of writers and a support team that will give feedback and offers suggestions. Writing is a skill and often practiced solo. Once you have produced a product, you will need to decide how to market and take it live.

I had so many ideas, however, I found that I needed another set of eyes to focus and gain clarity. I developed a team approach to bringing my project to fruition. One person who handles my website and the technical stuff. A person who helps with the videos and is setting up my Youtube channel. The ideas of blogs topics and writing required an editor who would check my grammar and syntax. Last but most important, how to market and brand yourself. This is the part that automation makes the difference. My goal is to be known as the how to take a setback and become a financial comeback after 50.

Happy investing in yourself
Chari Farmer Ogogo