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Len Penzo dot Com

The offbeat personal finance blog for responsible people.

7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement

By Mikey Rox

Are you trying to decide whether or not you should be building your retirement savings with a Roth IRA? It's true; using a Roth IRA has its advantages -- but there are also more than a few reasons that may make you think twice before getting one. ...

Continue reading 7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement

8 Comments May 10, 2022

8 Ways to Tame Your Credit Card Debt Fast!

By Mikey Rox

Somebody printed this on a T-shirt: "The holidays are over and all I got was a mountain of debt!" Sound familiar? Don't feel bad; you're not alone. According to Wallet Hub, the average credit card balance per US household is now $8590. And with ...

Continue reading 8 Ways to Tame Your Credit Card Debt Fast!

6 Comments May 3, 2022

6 Ways Procrastinating Hurts Your Finances

By Mikey Rox

Lots of people live by the procrastinator's creed: Why do today what you can put off until tomorrow? You might even be one of them. But while this practice seems innocuous enough, it's actually costing you an embarrassing amount of money. Here ...

Continue reading 6 Ways Procrastinating Hurts Your Finances

8 Comments April 5, 2022

6 Things That Are Better to Buy Than Rent

By Mikey Rox

I recently wrote a post here that highlighted things that are better to rent than buy. Now it's time to flip it and reverse, a la Missy Elliot. Here are a few items for which you should always shell out full price -- even if you don't want ...

Continue reading 6 Things That Are Better to Buy Than Rent

5 Comments December 14, 2021

15 Things That Are Better to Rent Than Buy

By Mikey Rox

Want to enjoy life's finer things without the big investment? Then instead of spending cash to own them outright, consider renting -- especially if you'll only use them infrequently. Renting can often fill a temporary void without creating a new ...

Continue reading 15 Things That Are Better to Rent Than Buy

7 Comments November 16, 2021

How to Convince Friends and Family Members to Lend You Money

By Mikey Rox

I'll be the first person to warn you about borrowing money from family and friends, but if you really must turn to your pals and relatives for some quick cash, here are a few tips that will help you do it right and keep your relationships ...

Continue reading How to Convince Friends and Family Members to Lend You Money

12 Comments November 2, 2021

10 Great Ways to Avoid Student Loan Debt

By Mikey Rox

When the average student graduates, she's almost $30,000 in the hole. That's some education, all right. More than 44 million students are now up to their caps and gowns in student-load debt -- to the tune of $1.5 trillion. That makes student loans ...

Continue reading 10 Great Ways to Avoid Student Loan Debt

11 Comments October 19, 2021

8 Tips on How to Love Your Life and Not Focus on the Joneses

By Mikey Rox

What is the root of all evil? Some think it's greed while others believe it's envy. They often go hand-in-hand, but neither brings personal satisfaction. To find true happiness, we must look within instead of coveting that of others. Here's ...

Continue reading 8 Tips on How to Love Your Life and Not Focus on the Joneses

15 Comments September 21, 2021

5 Ways to Make Your Final Working Years Before Retirement Really Count

By Mikey Rox

According to leading psychologists, it's important to start planning for the transition to retirement three to five years ahead of your retirement date. You can set yourself up for retirement success by considering these five factors: Volunteer ...

Continue reading 5 Ways to Make Your Final Working Years Before Retirement Really Count

19 Comments September 7, 2021

The Pros and Cons of Taking Social Security Early

By Mikey Rox

Nobody knows exactly how long Social Security will last, but for the time being you're still entitled to what the government has stashed on your behalf over the course of your life. So at least for now, the dilemma is not if you'll receive the payout ...

Continue reading The Pros and Cons of Taking Social Security Early

10 Comments August 3, 2021

10 Famous People Who Have Gone Bankrupt

By Mikey Rox

Being rich and famous can set you up for life -- and well beyond that -- but it also can make otherwise smart people do really stupid things with their money. Just ask MC Hammer, who very famously filed for bankruptcy after spending his estimated $33 ...

Continue reading 10 Famous People Who Have Gone Bankrupt

3 Comments July 20, 2021

7 Ways to Get the Most for Your Money on a Road Trip

By Mikey Rox

According to AAA, nearly 80% of Americans hit the open road each summer for a family vacation. If you are too, just keep in mind that while you may be saving money over costly flights and en route hotel stays, there's still opportunity to shave even ...

Continue reading 7 Ways to Get the Most for Your Money on a Road Trip

3 Comments June 29, 2021

How to Take Advantage of Error Fares for Booking Super Cheap Flights

By Mikey Rox

Flying the friendly skies is an efficient and often necessary way to travel, but the cost of such convenience is often prohibitive. From ticket prices to baggage fees to in-flight purchases, these expenses can take a big chunk out of your vacation ...

Continue reading How to Take Advantage of Error Fares for Booking Super Cheap Flights

7 Comments June 22, 2021

7 Smart Things to Do with Your Graduation Money

By Mikey Rox

Congrats, Graduate -- you did it! But now that school's out, you've got some big decisions to make, the least of which is what you're going to do with all that graduation money. Whether you're fresh out of high school or a newly-degreed college ...

Continue reading 7 Smart Things to Do with Your Graduation Money

9 Comments June 1, 2021

Joint vs. Separate Bank Accounts: Which One Is Better?

By Mikey Rox

It's the eternal question for those who settle down together is and always will be: separate or joint bank accounts? There are arguments for and against both scenarios. So sit down, read this with your boo, and then have a conversation about what ...

Continue reading Joint vs. Separate Bank Accounts: Which One Is Better?

6 Comments May 18, 2021

What Should You Do If the IRS Finds a Mistake Made by Your Tax Preparer?

By Mikey Rox

If your accountant or tax preparer makes a mistake on your taxes, guess whose problem it is? Yep; all yours. If the IRS comes a-calling, demanding you fix the inconsistencies -- hopefully without a full, nightmarish audit -- then here's what you ...

Continue reading What Should You Do If the IRS Finds a Mistake Made by Your Tax Preparer?

9 Comments May 4, 2021

8 Smart Alternatives to Wasting Your Money on a Lavish Wedding

By Mikey Rox

I don't like weddings. Call me cold-hearted, but I don't find anything enjoyable about having to put on a suit and tie in the middle of a heat wave in August while two people profess their undying love for one another outdoors. Meanwhile, I'm over ...

Continue reading 8 Smart Alternatives to Wasting Your Money on a Lavish Wedding

15 Comments April 6, 2021

8 Ways to Stay Motivated When Nothing Is Going Right

By Mikey Rox

Staying motivated when the chips are down isn't easy. You feel deflated, perhaps a failure, and maybe even afraid for your job. The first thing to remember is that nobody is perfect; we all make mistakes. The second thing is that you can turn the ...

Continue reading 8 Ways to Stay Motivated When Nothing Is Going Right

3 Comments March 30, 2021

4 Ways to Make Saving Fun by Turning It Into a Game

By Mikey Rox

We all want to save money, but for many us, saving is difficult. It may be hard because we don't make enough money to send to our savings accounts, or perhaps we're spending too much of what we earn on frivolous things. Even so, saving isn't ...

Continue reading 4 Ways to Make Saving Fun by Turning It Into a Game

4 Comments March 16, 2021

How to Get a Good Job Without a College Degree

By Mikey Rox

Earning a college degree will go a long way in helping you land your dream job, but it's not always necessary. In fact, more and more employers today are passing up candidates with expensive degrees in favor of those who come to the table with ...

Continue reading How to Get a Good Job Without a College Degree

4 Comments March 3, 2021

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