Tag Archives: saving

What is the biggest way people waste money? (/r/AskReddit)

Reddit is an enormous, influential website which is truly a vast panorama of human experience.*  Today, a user asked “What is the biggest way people waste money?”  I think these are some of the best answers:** “Something I’m guilty of: … Continue reading

Posted in Thrift | Tagged ,

Why I Don’t “Bank on Yourself,” and You Shouldn’t, Either

First, I don’t think “Bank on Yourself” is a scam, I think it’s a terrible, terrible deal.  Here’s my understanding of how the “Bank on Yourself” concept is supposed to work (abridged version)*: You create a financial plan with an … Continue reading

Posted in Banking, Financial Planning, Insurance | Tagged , , , , | 2 Comments

FRONTLINE: The Retirement Gamble

Go forth, watch “The Retirement Gamble” by Frontline on the PBS website, then come back and I’ll talk you down off the ledge.  Here are my reactions.  First off: Of course people don’t know how much they need to retire.  … Continue reading

Posted in Current Events | Tagged , , , , , , , , ,

It’s Not The 401(k)’s Fault

USA Today published a controversial column titled “401Ks are a disaster” by Duncan Black on February 5th of this year. The article has a lot of assertions in a tiny word count, and would take a lot of time to … Continue reading

Posted in Current Events, Investments | Tagged , , , ,

Age Sixty-Five is the Deadline for Becoming Independently Wealthy?

The standard retirement age in the U.S. is age 65.  Most people see that as the date they should be ready to retire, but retirement has changed significantly over that past hundred years.  I think our expectations have changed from … Continue reading

Posted in Investments | Tagged , , , , ,

Can We Stop With The “You Need A Million Dollars” Thing?

Something I overhear here and there is that you need a million dollars to retire. Can we stop with that? Estimating the size of the nest egg you need to retire is highly contingent on your risk tolerance, projected returns, … Continue reading

Posted in Financial Planning, Investments | Tagged , , ,

My Observations Concur – “How to Reach $1 Million” from Money Magazine

Since I’m a member of the Financial Planning Association, I receive a complementary copy of “Money” magazine each month.  Normally I just give it a quick skim, since it’s a bit… below my technical level.*  This month, however, was different.  … Continue reading

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Ask An Advisor: Retirement Plan Alternatives

Dear Abigail, I am a non-traditional student.  I am not employed full-time, I only work on campus during regular semesters and summer sessions.  I will be attending graduate school next fall, and will be working as a research assistant.  I … Continue reading

Posted in Ask an Advisor, Financial Planning, Investments | Tagged , , , , , , ,

Thinking About Old Age and Money

Have you ever taken the time to think about what it will be like when you’re old?  I’m not talking about the technical advances of social changes, but the physical reality.  One day, we will either all be old or … Continue reading

Posted in Financial Planning, Investments | Tagged , ,

Savings Rate Increasing, But I Don’t Think It’s High Enough

According to Reuters, the U.S. savings rate has increased to 3.8%.  That’s nice,* but I’d like to see it higher.  Here’s why. It’s a well-known trope that financial planners love it when people save money.  Usually, when you hear standard … Continue reading

Posted in Current Events, Financial Planning | Tagged , , , ,

Saving In A 401(k) May Be “Cheaper” Than You Think

If you have a 401(k) at work,* you could be able to save money in your 401(k) while only reducing your paycheck by a fraction of your savings.  Most people mistakenly think that, if they have money taken out of … Continue reading

Posted in Income, Investments, Taxes | Tagged , ,

Overcoming Unreasonable Financial Expectations

Do you find that some days it just feels like everyone is richer than you?  Read this, and feel better about your financial life. This morning I got a text from my sister that reminded me that being a financial … Continue reading

Posted in Financial Planning, Spending, Vision and Goals | Tagged , ,

How Are You Doing At Converting Income To Wealth?

So, this last weekend, for fun, I added up all the income I’ve earned in my entire life.  Yeah, you heard me: fun.  It’s pretty easy if you have copies of all your tax returns.  If you don’t have your … Continue reading

Posted in Income | Tagged ,

Why Wait?

It’s resolutions season again, and I hope you have a few goals for this year.  (I do!) It’s customary to start New Year’s Resolutions on the first of January, but I encourage you to start immediately.  Why wait?  I’ve been … Continue reading

Posted in Vision and Goals | Tagged , , ,

The Ultimate Guide To Saving Money

Do you want to save money but don’t know where to start?  Do you get confused by all the different and conflicting advice on saving money?  Never fear, in one short post I will show you how to save money.  … Continue reading

Posted in Banking, Financial Planning, Income, Spending | Tagged , ,