Living for today - Planning for Tomorrow
Today I went to lunch with a couple friends of mine. One is someone that I currently work with and the other is someone that I worked with for a few years until he retired last year. I’m only 36 but by talking to my friend, I could just tell I’m going to really love retirement. My goal is to get there at 50. My
From the If you don’t ask, you won’t get department: When we bought the lake house property and structure we used some money from a home equity line of credit that we’d set up months before. We didn’t borrow a ton of money but at the time we locked in the interest rate. I’ve read too many horror stories about payments adjusting up as the
Prostitutes aren’t exactly known for their good money management skills or financial knowledge. Most of them are in a vicious earn, give to pimps and spend cycle. In India, a group of over 900 prostitutes has started their own bank so that they can start saving and, hopefully, pull themselves out of the vicious world of prostitution. Many of them have the same dreams as
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
I’m going to confess something. I absolutely love to hear about other people’s finances. Why? I don’t know. I guess I’m just a competitive jerk that loves to see how I stack up. Okay, that’s not true but I do love to see how I stack up relative to others in my age category. Knowing the details of someone else’s finances doesn’t help my financial
Earl Crawley earns $20,000 a year as a parking lot attendant. Even with such a small amount of income he has managed to create a nest egg of over $500,000 in the last 44 years. If Earl is not an inspiration to you then you are a lost cause. You know those simple savings tips that you read on all the PF blogs? They can