The Dime's Best of 2018

December 25, 2018

Before we ring in 2019, let’s take a look back at some of our favorite blogs over the past year. From the impact of financial stress on our mental health, to the retirement-saving concept everyone should familiarize themselves with, 2018 had it all. Take a look at the picks below, and when you’re done, let us know if there are any topics you’d like to see us cover in the new year.

The Passing of Senate Bill 200 and What It Means for You

On Monday, June 4, Governor Hickenlooper signed Senate Bill 18-200 (SB 200) into law. The legislation was introduced to the Colorado legislature in March as a means of addressing PERA’s unfunded liability and securing the plan’s financial health now and in the future.  

If you’re a current or former PERA member, you have by this point received quite a bit of information on the topic. Still, with the passing of SB 200 being the biggest PERA-specific news of the year, a “best of” roundup wouldn’t be complete without it.  

An Introduction to the Retirement Stool Concept

It’s hard to know where to start when it comes to saving for retirement. So let’s simplify it by starting with…a stool. (Yes, just like that piece of furniture you’ll find at your favorite bar.)

For years, financial planners have used the metaphor of a three-legged stool to describe the sources of income that many public employees utilize in retirement: Employer-retirement plans, personal savings, and Social Security. It’s a simple concept, but also remarkably helpful. The idea is that all three sources of income are vital to ensuring your comfort and stability in retirement. Without one of the legs, the stool falls down…and, well, your golden years might not be quite as golden. Read on to learn more about the what’s, why’s, and how’s of each of these sources of income in retirement, and, if you wish to dig in even deeper, check out our month-long deep dive series on each, starting here.

How Financial Stress Impacts Your Mental Health

So much in the personal finance and retirement space focuses on mastering the basics—setting savings goals, sticking to a budget, tackling debt—but how often do we address the emotional tolls and stresses that our finances precipitate?

There’s no denying that these basic concepts are important; we’re certainly no stranger to them here at The Dime. However, in honor of World Mental Health Day on October 10, we decided to take a deeper look at how money and psychological health are inextricably linked (so much so, in fact, that the UK has established a Money and Mental Health Policy Institute).

Read All About It

As the current or former student in each of us knows, reading is one of the most productive and beneficial lifelong habits you can nurture. That’s why, in honor of National Book Lovers Day on August 9, we rounded up  some suggestions to help improve your own habits, particularly those that pertain to your personal, professional, and financial routines. It’s by no means an exhaustive list—you could spend a week flipping through the self-help section of any decent bookstore—but more so a starting point for recently released and more established volumes to help you get ahead at work, at home, and at the bank.

From Today’s Earnings to Tomorrow’s Equity: How to Save for the Long-Term

It turns out that millennials know a bit about saving—a Bank of America report found that nearly half (47%) of millennials have $15,000 or more saved, and one in six has more than $100,000 in savings. Where they tend to get hung up, though, is in understanding how to create a strategy that takes them from today’s earnings to tomorrow’s equity. If you’re a millennial who’s currently saving but unsure how to channel that proclivity toward attaining your long-term goals (e.g., retirement), here are a few tips.