I have been wanting to put this lesson together for awhile. I created an annuity spreadsheet to calculate the long-term impact of various spending habits. What would your retirement income look like if you brewed your coffee at home instead of going to Starbucks or drove a sedan instead of an SUV? When you replace small spending habits over a 30 year period and earn investment returns on the savings, the difference can be tens and even hundreds of thousands of dollars. Check it out:
Many people I talk to want to do a better job of saving for retirement but don’t know where to begin. Maybe their employer offers a 401(k), but they don’t feel like it’s enough, or maybe they have no 401(k) at all and desperately need to get something started.
Many people also don’t have much money to get started with. They might want to start investing as little as $20 per month. The fee structures of mutual funds and the transaction fees brokers have for purchasing securities can make investing small amounts of money at a time very impractical, but that aspect of the investment industry is changing, and there are some new opportunities for small-time investing that weren’t there only a few years ago. Continue reading “How to Start a Retirement Fund with Almost No Money”
Get a peak at one of my high school finance lessons through SlideShare:
I am not a Democrat, I am not a Republican, and I am not a fan of the political games that the leadership of each party play with our government. I am a independent thinker, and I prefer a rational, quantitative approach to looking at issues and devising solutions to them that are practical, empathy-based, ethical, and constitutional. Politicians at the federal level have shown time and time again that their allegiance is not to the Constitution, to common sense, or to the general welfare of the American people. They serve the minority interests who get them elected and usually re-elected: the establishment leadership of their respective political parties and the campaign donors and special interests who back them. The American Health Care Act (AHCA) is a perfect example of this process in action. Continue reading “3 Reality Checks the U.S. Needs to Face Before We Reform Health Care”