Living for today - Planning for Tomorrow
Yesterday, my daughter went to the store with my wife to find a birthday present for my nephew. My daughter made sure to take her little money box with her in case she saw something that she wanted. She keeps her allowance in an old plastic mayonnaise container that we had in the cupboard. Anyway, I dropped them off and ran to another store while
Leroy Fick from Saginaw Michigan won a $2 million lottery in 2010. While this sounds great, somehow Leroy is still receiving food stamps to help put food on his table. Why? Well, Leroy took the lump sump payout, bought a new house and a car and then invested the rest. Since his income is based on the amount of investment income he’s receiving from the
A good friend (and neighbor) and I have been talking about our retirement strategies and plans for years. It usually consists of us standing around in the street in front of our houses comparing approaches and percentages in various accounts. Don has been a great saver for much of his life. Both he and his wife have worked during their marriage and I have found
I took a quick look at the CNN net worth calculator and pulled out some examples of the median net worth of various ages. I’ll list the averages for a couple different scenarios but you can certainly go use the tool and see how your specific numbers stack up. I’m going to use some pretty standard age ranges for this comparison. Under 25, 25-34, 35-44,
CNNMoney has an article up right now where a reader asks Walter Updegrave whether he’s saving enough to amass $2 million by retirement. The guy is a savings machine putting away $4000 a month and I wonder if he really wants to know the answer or whether he is showboating just a bit. I mean, if you’re saving that kind of money, I’m guessing you
What will they think of next? In an attempt to get people to save more there is a bill working it’s way through Washington’s legislature to enter people in drawings for every $25 they save in their account. If they win, they’d receive things like an Ipod or Itunes gift cards. UGH. How about if we spend a bit more time highlighting why saving is
I was thinking this year would be a pretty insignificant raise because of the economy and the general state of things. I’ve been working hard at work so I figured I’d get something but was absolutely blown away to find out I got over a 9% bump. Needless to say, I was thrilled. We won’t be spending the additional income since we really have everything
I love this time of year. We are just about through the worst of winter (which means spring and summer are on the way) and it’s bonus and raise time at work. On top of that, it’s tax time which usually means we get some sort of tax refund as well. This year it’s looking like I’ll be getting somewhere around a 6% raise. I
I was out talking to my neighbor today and the subject of texting came up. I told him that I had two numbers that he could text but that I’d prefer he sent them to a different number than he’s texted in the past. He looked at me a bit odd and then I explained, “I got my wife and I additional “Google Voice†numbers
“A good financial advisor takes your money and his experience and turns it into his money and your experience†I’ll stick with my boring index funds and self managed 401K, thanks.