Everyday tips for saving money
Over the years working in corporate America, I have encountered people who were self-proclaimed “trust fund babies.” They only worked to have something to do or to pave their own path in some way. I had a lot of respect for that, and at the same time, I found myself Read more…
Over the course of time, I have encountered a large number of people of all income levels living paycheck to paycheck. I’ve talked with individuals living lavish lifestyles, being “house poor,” and scraping by every couple of weeks to fund an overextended life. I’ve also talked to people on the Read more…
Yesterday, I spent some time going through my closet to get summer clothes put away for the season. As I went through my closet, I realized how long I have held on to certain things. As I swiped through, hanger after hanger, like a single on a hot pursuit through Read more…
Why you should consider an increase to your savings rate Living on half of your income can seem painful. However, it doesn’t have to be, and it can be done. Your rate of savings is the most important factor in driving your overall wealth. It has the power to drastically Read more…
Do you hope to retire at some point? Is it in the next 5 years? 10 years? 20 years? longer? Now is a good time to assess if you’re going to be ready. Do you know how much money you’ll need to retire? Read on. What retirement do you envision? Read more…
We cut cable nearly 15 years ago and with it, we also cut cable costs, but forced ourselves to live beyond the TV. Yesterday, I made my annual call to the cable company to continue locking in a low $29.99/month rate for high-speed internet service. Like most people, I hate Read more…
Most things have an order to them. Building a house, planting a garden, making a meal. Retirement planning is no different. In order to maximize your savings and earning potential, there are recommendations on the right order of retirement savings, including which “buckets” or accounts to invest in to get Read more…
If you have access to a 401k or 403b account with an employer match, your first step in retirement savings should be to contribute to the point of the employer match in that account. Once you’ve done that, an Individual Retirement Account or IRA is the next place you’d turn Read more…
Do you earn too much to invest in a Roth IRA? Do not fret, a backdoor Roth IRA can help you. The Roth IRA is a significant tool for wealth building. It allows you to contribute money annually (in 2021, $6000) in an after-tax manner. But, the bonus is that Read more…
Should you pay your mortgage off early? Short answer, it depends. Home ownership is something you love or you hate. It can seem very costly. But, for many of us, owning a piece of property is the American dream. We bought our house in 2012. It was our 4th time Read more…