Retirement Planning Farmington NM

Like the pre-bandit me, many singles save little because they have only themselves to worry about when in fact, planning is even more crucial for singles because they must face every financial challenge independently. During my disaster recovery, I learned some money management tips (and other safety tips) that I think every single should consider.

Ms. Rhonda L. Ledford, CFP®
(505) 599-4541
4601 E Main Ste 1
Farmington, NM
Firm
Wells Fargo

Data Provided by:
Mrs. Beverly J. Hatley, CFP®
(505) 334-2403
PO Box 126
Aztec, NM
Firm
Four Corners Financial
Areas of Specialization
Accounting, Asset Allocation, Banking, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management

Data Provided by:
Wells Fargo - Farmington Main
(505) 324-9500
100 E Broadway
Farmington, NM
Type
Branch
Office Hours
Mon-Thu 09:00 AM-05:00 PM
Fri 09:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Wells Fargo - 20Th Street
(505) 566-7220
501 E 20Th St
Farmington, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Wells Fargo - Farmington Main Mb
(505) 324-9569
101 E Broadway
Farmington, NM
Type
Motor Bank
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat-Sun Closed

Mr. James F. Sandbothe, CFP®
(505) 327-1985
5150 E Main St Ste 112
Farmington, NM
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Education Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management, Retirement Planning

Data Provided by:
Wells Fargo - Animas Valley Mall
(505) 566-2580
4601 E Main St
Farmington, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:30 AM-04:00 PM
Sun Closed

Bank of America - Farmington West
(505) 599-3755
719 West Main St.
Farmington, NM
Type
Banking Center
Services
Banking Center Services: Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-6
Saturday Closed
Sunday Closed
Drive Up Hours
Monday 8-6
Tuesday 8-6
Wednesday 8-6
Thursday 8-6
Friday 8-6
Saturday Closed
Sunday Closed

Bank of America - Farmington Main
(505) 599-3600
2200 East Main St.
Farmington, NM
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-6
Saturday 9-12
Sunday Closed
Drive Up Hours
Monday 8-6
Tuesday 8-6
Wednesday 8-6
Thursday 8-6
Friday 8-6
Saturday 9-12
Sunday Closed

Wells Fargo - Bloomfield
(505) 632-3331
1200 W Broadway Ave
Bloomfield, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Data Provided by:

Start Saving Strategies to Secure Your Finances

My first five years in New York, I led a good single life. Working as a technology and business consultant, I earned a nice salary which allowed me to enjoy nice dinners with friends, spend frivolously and not think twice about large purchases.

I was spoiled by a solid job market within a bullish industry and did not max out my 401k let alone contribute to it nor did I set up a savings account despite the consistent pleading of my parents.

Then a move uptown came when the movers politely drove away with every last item I owned, never to be seen again. It may be hard to comprehend but a robbery was one of the most valuable life lessons I ever received.

Like the pre-bandit me, many singles save little because they have only themselves to worry about when in fact, planning is even more crucial for singles because they must face every financial challenge independently. During my disaster recovery, I learned some money management tips (and other safety tips) that I think every single should consider:

1. Learn to live within your means:
Whether it is expensive purses or the latest must have electronic gadget, many singles tend to spend beyond their means. To live with a moderate mindset, learn to make conscious and realistic purchasing decisions. Keep track of spending in a journal and make smart adjustments on a regular basis. Your new found awareness will allow you to differentiate must-have purchases from those which are indulgences, keeping expenses at bay.

2. Set up an emergency fund: No one should ever have to deal with a robbery but face it, bad things happen all the time. Better to be on the safe side by stashing away some cash (at three to six months' income) in a high-yield savings account. Remember these monies are a safety net, so do not spend them on "shoegasms" no matter how good it might feel. The best way to avoid temptation? Leave those credit cards at home!

3. Be on top of bills: Timely payment is important but you must also be sure to review monthly statements from services and credit card providers. These days, you never know who has tapped into your accounts! So look out for cash discrepancies based on your monthly deposits and withdrawals as well as faulty expenses that may be charged to your account.

4. Keep Records Straight: Invest in a file folder and keep a copy of every receipt, warrantee, invoice or financial and medical statement you receive. This way you will be able to return items that have gone faulty, dispute fraud charges and be on top of deductions when it comes time to pay taxes. And though we don?t wish it upon anyone, be able to prove insurance claims should the time come.

5. Max Out on Your 401k: Start investing for retirement! Maximizing use of your employer's retirement plan or starting a simplified employee pension plan (SEP) if you're self-employed is important for singles as a way to save for their future while getting a valuable tax break in the bargain.

 

Click here to read more from Single Edition