Good Morning Everyone!
Thanks to Clark Howard, I discovered this cool new App that I wanted to share with all of you that allows you to convert your finanical independence goals into an actual countdown clock!
Continue reading “The Countdown to Freedom App”
According to Wikipedia, financial independence is “the state of having sufficient personal wealth to live, without having to work actively for basic necessities”. Many of the things we do right now to improve our personal finances are meant to reach this ultimate goal in which we no longer have to worry about money and/or its source (ie working).
This is also synonymous, and a prerequisite, for retirement. Continue reading “6 Habits You Must Start Now to Achieve Financial Independence Later”
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I came across this article recently on Forbes about “Suze Orman’s Top Five Money Mistakes You Can’t Afford To Make“. It got me thinking…why only 5? There’s a lot more mistakes one could make.
There are sooooo many mistakes and blunders one could make with their money that could have long-lasting, negative effects… sometimes irreparable.
Mistakes can be very easy to make, especially when we are not taught good personal finance in school, or anywhere. I admit to making money mistakes.
So, as a sort of follow-up to my top 5 money mistakes post, I wanted to compile a somewhat complete list of bad, worse and worst money mistakes anyone (not just young adults) could make. I feel like to understand how to make good, smart money decisions, you should know what could possibly be financially bad and devastating decisions.
I came up with these 32 easily, but I am sure this is not a complete list! Please feel free to chime in below and add to it!
Continue reading “Financial Pitfalls: 32 Bad, Worse and Worst Money Mistakes and Blunders”
This page may include affiliate links. I may get paid when you click on a link and buy a product, but at no extra cost to you.Good Morning everyone!
Today I want to discuss IRAs. If you have not heard of them, they are an awesome retirement option for Millennials to utilize.
An IRA is an individual retirement account. Individually, you can put $5,500 per year into a Roth or Traditional IRA. With a Roth IRA, you contribute money after you’ve paid taxes on it and then your money grows tax-free. That’s actually a really awesome deal and usually the best investment option for Millennials. In a Traditional IRA, you put money in before you pay taxes on it. In addition, you can usually deduct this contribution from your taxes if you don’t already have a retirement plan at work or if you make less than $71,000 a year.
Continue reading “Retirement: Roth vs. Traditional IRA”