Living for today - Planning for Tomorrow
Tonight I was sitting in my office at home when my daughter came in with rubber gloves on. She looked at me and said, “Daddy, I’m starting to clean the bathrooms so I can get my allowance!”. I told her, “great job” and she headed in to the first bathroom to start cleaning. About 5 minutes later she came back in with a funny smile
I will confess that I really like Business Insider. Their latest article that caught my attention was a pretty long set of instructions on how to keep your money after winning the lottery or making millions as a professional athlete. It won’t be a surprise to most of you that it simply requires spending less than you make and creating a revenue stream from the
I must confess that I love watching consumers exercise their right to shop where they believe they’ll get the best value. The latest article on MSN highlights that online banks are seeing large increases in new members as people, fed up by the latest fee hikes at commercial banks, shop around for better deals. While I still think credit unions are the best place to
I read an article today about Danny Kofke. He’s the author of the book: A Simple Book of Financial Wisdom, available at Amazon for $12. In the article, Danny talks about how he and his family live on $40,000 per year. There really wasn’t any new information or advice on how he does it but it’s definitely worth reading. A few things caught my eye
I realized a long time ago that the various types of media companies out there really weren’t very good at helping me be financially successful. It seemed that each article I read contradicted the previous article and you could pretty much find any article to tell you anything you wanted to hear. I guess it was a long slow process that I lost confidence in
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
