Living for today - Planning for Tomorrow
Everyone likes an instantly wealthy person. I have a special fondness for the newly rich. No, I don’t have a business proposition for you. Nope, don’t need a loan either. I just care about you and your pile of cash. I want you to be successful like my good friend Brad Duke. (okay, he’s not my good friend and he doesn’t even know me, but
If you are a long time reader of ELYM you know that I tend to make some rather “out of character” moves now and then. Usually these out of character moves have to do with automobiles. If I was smart, I think I’d just sell everything and head on over to become an Amish man or a Mennonite. At least in their culture, there is
So, one million isn’t enough for you, right? I know it’s not enough for me. I know I need much more than that. Will $2 million cover you in retirement? If so, are you on the right path to meet that goal? About how much money should you have at your age? Age 21: $0 Age 32: $77989 Age 43: $279236 Age 54: $798538
I always like to know if I’m on the right path and on schedule with my investing and saving. I normally keep a spreadsheet of what my net worth needs to be at various points along my journey. I use this as one of many tools to see if I’m making good decisions about saving, investing and avoiding purchases. We each have a unique number
I wish I had a nickel for every time this question has popped in to my head. I thought about this a lot more when my net worth was quite low and I had just gotten started. It’s hard to imagine that you are on the right path to retirement when you only have $10,000 put away in your 401k or IRA. So how do you
Have you noticed the market hasn’t been doing so well lately? :) Yeah, me too. My 401k has taken a bit of a beating lately but I know that I just have to hold on for the ride. Rather than fret about the unrealized losses I’ve been seeing, I need to remember that the dips give me an opportunity to buy the same investments at
I’m back out working on the cabin. I decided to take a couple days off this week since the weather is so nice. I’ve got a few things lined up to get completed on the cabin. I’ve asked the heating company to come out tomorrow and finish the install of the heat pump and fire the system up. I have run the wiring out for
Just when I thought I had heard everything, along comes this company that will sell you 52 fake ATM receipts that they’ll put any dollar figures you want on. I’m sure that this is just a good prank for many people, but you know there are some people out there that will actually buy these in an attempt to be something they are not. It’s
My brother in law and I had a good conversation about money today while we were all visiting at my mom’s house. For those few readers that have been reading ELYM for awhile, you’ll remember that my mom and dad had a massive fire at their house back in December and then my father passed away two weeks later (from a heart attack). Anyway, my
It’s already been a very busy spring and summer for us here. We’ve got lots of things going on although the lake house is definitely taking most of our time. Our net worth has continued increasing at a relatively good pace. While I’m not posting too many specifics anymore I still like to list some of the more general percentages. Overall annual increase: 33% Month