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
I’m so close I can almost taste it. (Although, I’m not really sure what $100,000 tastes like). After almost 6 years on the job, my 401k is about to hit $100,000. I would have already hit the mark if I hadn’t scaled back my contributions to help offset our vacation home purchase (scaled back to 8% to get all the company match) but I expect that
The first thing I thought about when I read this story is, “That million isn’t going to last long”. This woman found a $10 bill on the ground and then used it to buy lottery tickets. She’s glad she did because she won a $1 million dollar jackpot. The article says that she has 9 maxed out credit cards and $8500 in debt from an
I just noticed there is a new “millionaire in the making” that I hadn’t seen. Jeanette Courts is a divorced 38 year old mom who works for the Pentagon making 94,000 per year. Here is a summary of her net worth: Government Thrift Savings Plan: $107,000Roth IRA: $6,000Savings Bonds: $2,000Online savings account: $10,000Brokerage account: $1,000Other savings: $4,000Home equity: $190,000 Jeanette is looking good. I’d say
It seems like such an easy question to answer. Of course the answer varies from person to person, but let’s just say that you know what you need to have when you retire. If you would like to retire with an annual retirement income of $50,000, you are going to need to have roughly a million dollars at retirement age. This assumes that you are able
I have posted about this subject before but I recently read an article that did a good job of explaining this. A professor got access to a database of people that have been participating in a study for the last 25 years. It started when they were in college and now these people are in their forties. While the original study didn’t cover finances, it