Tales from the Wallet: Retirement

retirement-womenLadies, how much are you saving for retirement? How large does retirement loom in your thoughts — and where does it fall in your priorities?  Welcome to our next installment of our Money Milestone series, where we’ve discussed paying for grad school, wedding finances, home buyingfinancially planning for a baby, and financial strategies for divorce.

I haven’t retired yet, obviously, but it does loom fairly large in my thoughts and priorities just because getting enough saved by the time we want to retire — and hopefully meet a personal goal of paying for college for both boys — is not going to be a simple matter.  Constant vigilance is the key, I think!  Of course, you don’t want to save so much that you can’t enjoy your life right now — after all, not to get too dark on this sunny day, but not everyone will have to worry about retirement.  We max out my husband’s 401K and my SEP-IRA every year, and we save what else we can in tax-savvy investments and with automatic investing.  (I just started using a new app called Acorns, which is interesting: you can link it to bank and credit card accounts, and it will round up every transaction and invest the difference in Vanguard funds.  Spent $8.95 at the drugstore? It’ll take that $.05 and put it in a queue to invest when you get to $5.  It’s a bit wonky right now — it mysteriously hasn’t updated in 10 days — but I think it shows a lot of promise.)

Readers, are you throwing everything you can at retirement — or are you prioritizing other goals first (like keeping investments fairly liquid for a home purchase or other big expense like a wedding, or paying down debt)?  (Incidentally, we did try to answer what retirement assets you can use for a first home purchase in a previous post.) 

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The Next Step: Upgrading Weekend Clothes

How to Upgrade Your Weekend Clothes | CorporetteWelcome to what is probably our final “next step” feature, where we explore how to take the next step up in work clothesoffice heels, stylish work bags, and professional jewelry; we also explored the middle upgrades for services (e.g., you can cook for yourself or get a professional chef — but what’s in between?). Today: how to step up your weekend clothes game. (Pictured: Vince Gathered Shirtdress, on sale from $385 to $230 at Nordstrom.)

Here is my theory on weekend clothes: there are very few classics. At the rate that fashion moves these days, the quickest way to look and feel frumpy is to have an outdated off-duty style. I speak from experience here: I refused to buy in to the skinny jean trend for <cough> way too long, arguing that bootcuts were classics and fit right in to the style for weekend me. So what if I’m still in bootcuts when everyone else in skinny jeans, you may say — it’s just denim, and I’m in suits or sheath dresses five days a week. But I’ve noticed that a lot of elements of your workwear wardrobe can flow from weekend choices.

For example: a fitted t-shirt looks great with bootcuts, but you need a drapey, tunic-y, asymmetrical top for skinny jeans. The slouchy, more boxy tees and sweaters (or, gah, the crop tops) look better with boyfriend jeans. Once you get used to doing the half-tuck with your jeans on the weekend, your office style changes as well — to more drapey blouses with slimmer-cut pants. Similarly, once you get used to rolling your jeans to wear with your booties, wearing knee-high boots with skinny jeans feels almost antiquated — which means you buy fewer knee-high boots or don’t replace the ones you have, and then it’s less of an issue whether it’s appropriate to wear knee-high boots to work with dresses, and instead we start talking about whether booties with skirts are work-appropriate. It’s very interesting to me how all of the pieces interact.

This is all just a theory, and I’m curious to hear what you guys think about it. I’m still perfecting my own weekend game, but I think this is where the capsule collection really comes in — you buy a few of-the-moment pieces that all work together in terms of color, silhouette, and vibe, and try to keep your new purchases to a minimum. I also think that if dresses work for you in your off-duty life, they’re one of the best ways to stay as close to “classic” as you can get.

Anyway, here are my tiers for weekend wear — readers, where do you shop for weekend clothes? Do you also feel like casual fashion is moving far more quickly than it has in the past — and how do you address it? Or, is all of this less of an issue because you’re either in a suit, workout clothes/sweatpants, or a date night slinky dress, with very little in between time?  

Tier 1 — These stores are easily accessible, and you probably shopped at them in your teens. The pros: they’re affordable and always on trend. The cons: a lot of their cuts and trends may skew a bit younger than you prefer; the clothes are not made to last (generally speaking); and you may want to consider the ethics of buying a ton of “disposable” clothes.

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The Hunt: Fit and Flare Dresses

tailored fit and flare dressesSure, we all know what basics professional women are supposed to have in their closets, but if you’re buying one for the first time or replacing one you’ve worn into the ground, it can be a pain to find exactly the right incarnation in stores. In “The Hunt,” we search the stores for a basic item that every woman should have.

We haven’t rounded up fit and flare dresses in almost a year, so I thought we’d take another look.  It’s such a popular silhouette that I’m going to focus this Hunt on not only work-appropriate ones but on solid, conservative ones that will be workhorses in a wardrobe.  Ladies, which are your favorite fit and flare dresses — and do you have any favorite accessories to wear with them (blazers, cardigans, shrugs, etc)?  

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The Hunt: Low Heels

stylish-comfortable-heelsSure, we all know what basics professional women are supposed to have in their closets, but if you’re buying one for the first time or replacing one you’ve worn into the ground, it can be a pain to find exactly the right incarnation in stores. In “The Hunt,” we search the stores for a basic item that every woman should have.

We haven’t done a round-up of stylish low heels (2.25″ or below!) for a long while now (2014, 2013, 2012), so I thought we’d collect a few today. My absolute favorite in this space is the Stuart Weitzman Poco heel — I really find the 1.75″ heel to be more comfortable than most ballet flats, and with new colors coming out every season it seems like there are always good sales somewhere (I always check Amazon or 6pm first; currently Amazon has prices as low as $185 and 6pm as low as $106.). Still, I thought I’d round up a bunch… Ladies, what is your favorite pair of low heels? Have you bought any recently, or worn an older pair into the ground? 

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The Hunt: Lightweight Blazers

Nina Ricci Printed Stretch-Linen BlazerSure, we all know what basics professional women are supposed to have in their closets, but if you’re buying one for the first time or replacing one you’ve worn into the ground, it can be a pain to find exactly the right incarnation in stores. In “The Hunt,” we search the stores for a basic item that every woman should have.

Linen! Seersucker! Cotton pique! Eyelet! There are a million varieties on the lightweight summer blazers — we thought we’d round up some of the best. (Here’s our 2014 roundup of linen blazers, our 2013 roundup of white blazers, and our 2012 roundup of summer blazers.) Ladies, what do you look for when buying a blazer for a hot summer? (For my $.02, these kinds of blazers are perfect for casual days at the office, as well as summer associate outdoor events where you know not to wear a suit but aren’t too sure what else to wear — use a lightweight blazer to top a basic sheath dress and look professional at an outdoor cocktail party; bring it along to an event where you’re only 90% sure jeans and a t-shirt are ok.)

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Tales from the Wallet: Surviving Divorce, Financially

financially-surviving-divorceWe haven’t done a Money Milestone series in a while, in part because I’ve been a bit trepidatious about this one. I keep reading that divorce can decimate your finances, and there are numerous things you should do in advance of, during, and after a divorce. However: I’m happily married (knock on wood). I still think this is important for us to talk about here, both for readers who may be thinking about a divorce or going through one.  So let’s do this as an open thread (anonymous as always) — ladies who’ve been divorced (or seriously investigated getting one), please speak up. What are your best tips for financially surviving a divorce? What would you do differently with your finances during the marriage, if anything — and when would you have done it? What resources can you recommend, either on the finances side or otherwise?  

In this Money Milestone series, we’ve done grad school, weddings, home buying, and planning for a baby.  In terms of money and relationships, in the past we’ve also talked about pre-nups, shared accounts, married money management, dating someone with less money, dating a fellow busy overachiever, and more.

Further reading:

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