Well, this is it – the last post of the year. I hope all of you had a great holiday and are looking forward to the new year! I thought this would be a good time to do a year-end review and look back at what I got accomplished throughout the year (and what I didn’t!). Let’s start with the 8 Financial Goals we had set at the beginning of the year for ourselves… 1) Build back up our online savings […]
For many employees, a 401(k) plan or similar defined contribution plan is the biggest retirement asset they have. The goal is obviously to grow that investment as much as possible and a company match can help accelerate that process. I’m in a fairly lucky situation at work. My company has a pretty unusual match. In a nutshell, they throw in a company match of 35 cents on the dollar. Did you notice I didn’t say “… up to 6%” or anything like
Why Your Company Match is So Important Read More »
When I started to get a little more serious about reaching financial independence a few years ago, I started dipping my toes into different ideas as I learned more about them. One of those ideas was to start investing in dividend stocks. Dividend stocks are great because you don’t usually focus as much on appreciation as you do on the regular payoffs you get from the stock. That means passive income, which is something we all know and I love. I
Wringing Out the DRIPs in My Dividend Stocks Read More »
I thought today we’d talk about little bit about how having multiple income streams can help to fortify your wealth as you continue your path toward financial independence. From the time I was six years old, my mom raised my brother and I as a single mom and did a pretty good job if I do say so myself! 🙂 One of the things I remember as a kid was that we each had our own savings account at an old savings and
With Multiple Income Streams Comes Great Power!! Read More »
There’s been something that’s been eating at me for a couple of months now. The stock market seems too bloated right now and I’m thinking about moving my money out of it. No, no – I’m not trying to be the guy timing the market. I just think I should move the money in my 401(k) to cash for a little bit and when the market crashes, I’ll be able to buy again at much lower prices. My 401(k) would
Timing the Market – A Smart Move? Read More »
Recently, I decided that I wanted a second opinion on my game plan. Although I’m pretty confident on how to make things work, I decided that this is important enough to warrant bringing in someone else to look everything over and give some unbiased input. So I recently hired a certified financial planner. I thought this would be a great opportunity to take you through the process from start to finish to give you a better idea if this is something that you
My Experience with a Certified Financial Planner Read More »
As some of you know, I’ve been a little bummed lately with my countdown to financial independence (FI) and early retirement being a ways out. Although I have a plan to retire before my 50th birthday, I just feel like this is too far out. Every day that I spend at work is one less day that I get to spend with my daughter. Granted, this is the summer when she’s not in school, but it’s tough regardless (which I’m sure it
Do I Cut Back on My Roth to Reach FI Sooner? Read More »
Hey everyone, it’s time to talk about something that most of us out there know, but not enough of us are talking about. And with that, I’m referring to retirement savings. Although this is a site focused on financial freedom and early retirement, the fact is that most of us out there have a slim shot at either one of these. I almost threw up when I learned on The Motley Fool that the average American’s 401(k) balance is $72,383. And even worse,
It’s Time to Step-Up Your Game! Read More »
A home equity line of credit (HELOC) is an interesting entity. In essence, it’s a line of credit that a lender gives you using the equity in your home as collateral. A HELOC is similar to a home equity loan and this sometimes causes confusion with borrowers. There are a few differences between the two though… Home Equity Line of Credit (HELOC) Does not necessarily advance you all the money at once – you are given a line of credit you can draw from as needed
Using a HELOC for Smart Reasons Read More »
I just finished reading The Richest Man in Babylon. I had a lot of recommendations to read this and I’ll tell you that, for as old as this book is (originally published in 1926!!), the content still holds strong. Great book if you’re trying to find your way to wealth. There is some very sound advice that stands the test of time, such as saving at least 10% of what you make and that you can live off your income, but you
The Steps to Wealth Read More »
