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What to Do in this Financial Climate?

photo credit: Latente § piove merda e dicono che è ciocolata
Like most of you, my 401(k) has steadily been declining despite the money I contribute with each paycheck.  When I checked my balance last night, it looked a lot like my 2005 balance!  So what am I going to do?  Nothing, or rather stay [...]

Challenge Yourself!

It’s very easy to get complacent in life as well as with your finances.  I’m definitely guilty of this.  Therefore, i’ve decided to give myself a challenge.  I hope you’ll join in and create your own challenge.
I currently save ~20% of my gross income for retirement.  My challenge will be to increase that amount to [...]

Saving for Retirement

People often ask in what order should they utilize the various retirement accounts/options.  Below is my take on the matter.
Stage 0 – Have an e-fund (at least 3 months’ expenses) in place – This should be your first priority so that when (not if) the unexpected happens, you don’t have to accrue debt.
Stage 1 – [...]

What’s on My Financial Plate

Well, not much is going on with me financially right now. My finances are pretty much on auto-pilot but I’m always trying to find new ways to maintain the same standard of living while spending less and saving more. For example, I subscribe (free with FF miles of course) to Allure magazine. [...]

Retirement Plans for the Self-Employed and Small Business Owners

Those who are self-employed or have small businesses have many choices for funding their retirement. Below I’ve highlighted some of the most popular.

Self-employed (or solo) 401(k) – This is for individuals who are self-employed or business owners who have no employees. Just like a regular 401(k), your contributions reduce your taxable income. [...]