Wealth by Virtue: a Book by Chad Gordon
Not long ago, I accepted an offer from a publisher to receive an advanced copy of Wealth by Virtue. Being a money nerd, I said yes, given that it came with a “no expectations and pester-free guarantee.” Even if the book turns out to be a dud, it could still …
Saving for Retirement or Paying Off Debts: The Dilemma
Whether to prioritize a retirement saving or pay off debt is a vital question to assess for people who are in debt. Some people think that paying off debt first makes sense. But what about the retirement? If you don’t save for your retirement, you may have to work for a longer time than an average retirement age.The dilemma is genuine.
On the other hand, the conventional wisdom says that people should start saving money for their retirement before paying off debts. Because, the sooner you start saving, the more time your money will get to grow.
If you have multiple debts with a higher interest rate, then the debts are costing you more money every day. Because it is a matter of assessing the interest rate that you are accumulating. You are actually losing money by paying the interest rate on the debts. You have to take initiative to pay them off to save money on the painful interest rate.
Net Worth Update: One Year Later
It’s Labor Day in the U.S., isn’t it ironic that I don’t get to work? I don’t see a lot of pregnant women hanging around the emergency room when I drove my R.N. wife to the hospital this morning either. Kidding aside, the holiday meant I have extra time to …
Your Household Needs a Year-End Report
Along with rebalancing my portfolio, the other thing that I do with my finances before the year ends is updating my household’s end-of-year spreadsheet. It doesn’t have to be overly complex. Mine is very simple and can be done by anyone who is Excel savvy. I’ve been updating the Excel document …