Last week I needed to venture into my attic to check on some rat traps, so I grabbed my flashlight to help me navigate my way through the rafters. As luck would have it, the flashlight wasn’t working; the last person who used it forgot to turn the darn thing off, so the batteries died.
Anyway, with no spare C-cells in the drawer and an unplanned trip to the store in
Continue reading 9 ‘Oops’ Moments That I Ultimately Paid For (One Way or Another)
I’m not a big football fan. Oh sure, I occasionally enjoy watching football on television. But, unlike hockey and baseball, I rarely bother buying tickets to attend football games in person.
That being said, this past weekend my buddy had an extra ticket to a college football game between USC and Arizona State, so I eagerly tagged along.
Anyway, as I was sitting in the Los Angeles Memorial Coliseum blissfully watching the
Continue reading Why Close Is Often Good Enough When Managing Your Money
Financial freedom can be a difficult term to define, but at a very basic level it simply means controlling your own finances entirely.
In order to gain financial freedom, you have to be free of debt, able to provide for yourself, and able to prepare for your future. However, achieving those goals is often easier said than done — particularly in times of economic hardship such as those that much of
Continue reading 6 Basic Steps to Help You Achieve Financial Freedom
Few people enjoy penny-pinching, but it’s easy to cut back on wasteful spending that costs most us hundreds, if not thousands, a year. And it’s unlikely to negatively impact your happiness, or your quality of life. In fact, it’s quite the opposite: with more money stashed away in a retirement account, you’ll get the peace of mind that comes with financial security.
Here are five low-hassle ways to do it:
Continue reading Save More for Retirement: 5 Easy Steps to Greater Financial Security
Roughly 3 in 10 people now borrow money from their 401(k) retirement plans. Generally, you can borrow half your account balance — up to $50,000 — for as long as five years. True, it’s among the cheapest loans available because the interest rate is typically the prime rate plus one percent, and interest is paid to yourself. Even so, the risks are steep; not the least of which is the
Continue reading 100 Words On: Why You Should Resist Borrowing from Your 401(k)
For many of us, retirement can often seem like something too far off in the future. However, as we approach retirement age, and as we are exposed with news of economic instability, we often wonder what is in store for us during retirement. Because of this, a question we often ask ourselves is: Where is the best place to invest to get the most for our retirement?
Although there are
Continue reading Roth IRA and Traditional 401(k) Differences – Which Is Better?
I have a lot of bad habits. For example, I tend to bite my nails when I get stressed out. I also have a penchant for opening the cupboard to get a drinking glass — then walking away and leaving the door wide open. I know. I can’t explain it either, but it drives the Honeybee absolutely bonkers every time I do it.
Even so, I like to remind her that
Continue reading 50 Good Personal Finance Habits Everyone Should Follow
President Roosevelt signing the Social Security Act of 1935 in the Cabinet Room of the White House.
This weekend I was looking through the safe that holds all of my most important documents, like family birth certificates, insurance policies and the secret recipe for mom’s sauce, when I ran across my Social Security card.
Now I’ll wager that, if you poll a room full of people at a triple-keg
Continue reading 18 Fast Facts You Didn’t Know About Social Security Numbers
A couple of weeks ago I shared with you ten characteristics of debt-free people of modest means.
In that article I specifically asked my readers to consider this question:
“Why is it that there are families out there with household incomes under $40,000 comfortably making ends meet and saving for retirement with no debt on the books – or at worst, a single mortgage payment – while others who make millions per
Continue reading If You Can’t Live on $40,000 Per Year, It’s Your Own Fault.
The other day a friend and I were discussing why some people manage to live their lives in complete control of their finances, while others are constantly trying to get out of debt fast – and usually in hock up to their eyeballs no matter how much money they make.
I’ve preached that financial freedom can be achieved by anybody regardless of their income level more times than I care to
Continue reading 10 Key Characteristics of Debt-Free People (of Modest Means)