When just starting out in the world of finances, the entire thing can seem overwhelming and daunting. It may seem like a lot of fun to jump right into the world of investing, but there are some preliminary steps everyone should be aware of before that. The first thing to do is to get a…
If you ever hope to retire and live off your savings, you need to be sure that you will have enough money to do so, and that your funds are safe and earning enough as you age. Experts recommend being prepared to have sufficient resources to generate between 70-90 percent of your earning power to…
A few years ago I was reading a book by David Bach titled, “The Automatic Millionaire“. In this book, the author refers to something called “The Latte Factor”. This means that most individuals are more concerned about how much they make and not on how much they spend. If you cut out one thing in…
The Roth IRA is an excellent place to store up money for retirement. It provides great tax benefits, and the early withdrawal penalties prevent most people from taking the money out too soon. But there are times when a person needs to access this money. They just have too many bills that have piled up,…
With our first child only a few months away, my wife and I are fully aware that our love for traveling will not come quite as easy as it has in the past. Traveling with a baby can not only be stressful, but also expensive if you are not well prepared. If you follow some…
One of the easiest ways for people to plan for retirement is with a 401k. The contributions are taken right from their paycheck, often matched by the employer, and most of the time the employee does not even notice the money is gone. During their working career people are usually on the search for a…
There is no doubt that accumulating money for retirement and other big expenses is important. Unfortunately the accounts used often involve fees. While there is often no way around paying for all financial advisor fees, there are ways a person can minimize the amount they will be paying out of pocket. By choosing a method…