Traditional vs Roth 401K: Understanding How They are Different
One thing that can significantly affect your long-term and retirement savings is the type of employer-sponsored retirement plan you choose. While traditional 401(k) plans and Roth 401(k) sound similar, there are some major differences between the two accounts.
Distinguishing between “Wants” vs “Needs” is so easy, even a 9-year-old can do it
“Hey pa, I got a perfect score!” my son proudly exclaims while greeting me as I come in the kitchen door next to my garage. I just got home from my long commute from work. “Great job! I’m so proud of you.” I replied, barely looking into the piece of …
Is it Time to Buy Bitcoin or just Laugh at the Suckers who are Holding onto It?
The following post is brought to you by Tom Dunleavy. Tom works in the Investment Consulting industry advising pension and 401-K plans, worth over a collective $5 billion dollars in assets. He writes about investing, personal finance and building your retirement portfolio over at investmentbasecamp.com. Admittedly, I’m actually one of the …
How the Massacre of “Killer Bees” Saved Me $300
If you ever own a home, you know that the monthly mortgage, property taxes, and insurance are not the only payments that you’ll ever have. A significant portion of your housing expense involves its maintenance from both inside and outside the house: plumbing work, appliance repairs, repainting, yard work, etc. …
What is a Life Well-Lived? (Hint: It’s not about having lots of money)
Money affects every aspect of our lives. From what we eat, where we live, and how we dress, to what we do with our spare time. Having enough money is essential to achieving sustainable happiness. However, having an abundance of money “per se” is not really a true measure of …
Visualizing the Best and Worst Days of the Dow
“Dow falls 832 points in the third-worst day by points ever” was the headline last Thursday on CNN Business. The media loves to sensationalize declines in the stock market, like any other news topic. The increase in readership almost always results in increases in advertising revenue. But the truth is the …
Suze Orman Could be Right, This Calculator Can Tell You Why
If you’ve been following my posts, you probably know by now that this is not a FIRE (Financially Independent, Retire Early) blog. For one thing, I’m already in my forties when I wrote my first post. There’s no way I could retire in my 30’s without sneaking into my sister’s time …
The Road to Being Rich: 7 Tips for Earning Extra Money While Working Full Time
In this age where real wages aren’t rising due to inflation, it’s becoming increasingly important to supplement your income with side hustles. And those who are willing to do what average people won’t do are the ones that are rewarded with above average results.
Book Review: Your Money or Your Life by Vicki Robin
Imagine yourself walking into a dark alley, in the middle of some ghetto neighborhood, and halfway through, a masked thug suddenly appears, pulls out a sharp knife and exclaims, “Your Money or Your Life!” Unless your first name is Chuck and your last name is Norris, chances are, you would surrender …
Net Worth Update: Two Years Later
One reason why I share my net worth over Labor Day Weekend is that of something with symbolic importance. The holiday is meant to celebrate the achievements of American workers. To quote the U.S. Department of Labor, “a tribute to the contributions of workers have made to the strength, prosperity, and well-being …