Readers: Today’s post was written by my daughter, Nina. — Len
I’m only 13 and I’m worrying about my future. Not in an academic kind of way, but in a financial one. That’s because there are certain things that terrify me about growing up and living on my own.
Here is a list of the top five things that make me nervous for the future:
The thought of paying taxes absolutely terrifies
Continue reading My 13-Year-Old Daughter Shares Her Financial Fears
Who doesn’t dream about being rich?
I’m certainly not afraid to admit I occasionally wonder how it would feel to be independently wealthy.
The other day I was reading an article on the world’s 200 richest people and stumbled upon a couple of surprising factoids.
The first surprise, was that the richest guy in the world is neither Bill Gates (#2) nor Warren Buffett (#4); it’s America Movil SAB Chairman Emeritus Carlos Slim,
Continue reading What It Really Feels Like to Be a Billionaire
Decisions, decisions. Like it or not, our lives are defined by them.
It’s no secret that a big part of our financial success is based upon the decisions we make in life.
Just ask any person who has jeopardized their financial future by, say, starting a family before securing a good job.
Fortunately, most of us will be lucky enough to be afforded with at least one or two challenging opportunities — and
Continue reading Why Financial Success Often Depends on the Road Not Taken
Today my good friend Paula Pant, who is the proprietor of the terrific blog Afford Anything, has graciously agreed to bail me out while I finish up my vacation in Hawaii — so please, folks, check out her site! I’ll be back on Tuesday.
For this guy, wasting time is a full-time job.
A few months ago I read an interesting analogy in the book Talent is Overrated, by Geoff Colvin.
Continue reading A Day in the Life of a Low Performer
The official US inflation rate in 2011 was “officially” 3.2 percent, but arguably higher, while the average pay hike was just 2.9 percent. Maybe that’s why, when it comes to job complaints, surveys show that employees grouse about their paltry paychecks more than anything else. Ironically, 29% of all workers — and 43% of twenty-somethings — turn down free money each year because they don’t contribute enough into their 401k
Continue reading 100 Words On: How to Get an Instant Raise (without Kissing Up)
Most everybody thinks they’re underpaid for what they do. But in reality, there are a handful of select jobs where this claim is especially true.
A few years ago I compiled a list of the 10 most underpaid jobs. The provocative list was a collection of occupations that I felt were grossly under-compensated considering their overall contribution to society; jobs like trauma scene clean-up workers and electrical linemen.
Since then, I
Continue reading 10 Thankless Low-Paying Jobs That People Often Accept Anyway
In 2004 my gross annual income crossed the magical $100,000 benchmark for the first time.
Reaching that milestone became a personal goal after graduating with an electrical engineering degree in 1988 and taking my first job at a salary of $31,000. At the time, I figured that once I was earning $100,000 per year, I’d be set for life, and able to buy whatever I wanted, whenever I wanted it.
Continue reading Time for a New Income Benchmark: $100,000 Ain’t What It Used to Be
Where you live becomes more important as household income decreases. For example, when taking into account food, utilities, healthcare, housing, and general goods and services, New York City is more than twice as expensive to live in than Pueblo, Colorado. So while residents of both cities may struggle in minimum wage jobs earning $15,080 annually, the Big Apple denizen has less than half the purchasing power of his Rocky
Continue reading 100 Words On: The Best Way to Make Ends Meet on a Limited Income
With the current economic malaise continuing to strain household budgets, it’s no wonder that a growing number of people have decided to stretch their incomes by taking on more do-it-yourself tasks. As a result, thrifty folk from all walks of life are now boldly tackling complex and ambitious jobs that they’d never dream of handling in better times. Even so, DIY projects can be financially risky too.
The bottom line: Do-it-yourself
Continue reading 100 Words On: Why It Doesn’t Always Pay to Do It Yourself
Not too long after our first child was born, the Honeybee left her position as a paralegal for a bankruptcy attorney to become a stay-at-home mom. It was a decision that we had both happily agreed to before we were even married. That course of action effectively turned us into a single income family, and it’s a decision I’ve never regretted for one moment.
Yes, if the Honeybee had remained working,
Continue reading Are Two Household Incomes Really Better Than One?