Reading Time: 2 Min What does it take to be above average in net worth in this country? According to date from the 2013 Survey of Consumer Finances, helpfully presented by DQYDJ, the answer is “not a whole heck of a lot”. The 50 percentile ranking for those age 50-54 is $122,100
Reading Time: 4 Min In a past life, I was the quintessential Type A Overachiever. I had goals for clubs and activities to get into a good college. I had goals for my net worth each year. And that attitude carried down into each day, where there were always items to complete. Get groceries.
Reading Time: 5 Min The problem with lifestyle inflation is that it’s hard to see, even when you’re looking for it. The Lifestyle Inflation series gives us the chance to examine items we take for granted as needs and reclassify them. You may not choose to make a drastic change with the information. However, you
Reading Time: 4 Min As you kick your financial planning into the next gear, the key to your success is building momentum. One of the best ways to build momentum is seeing the direct results of your efforts translate into higher numbers in your bank account. Tracking just two numbers on a monthly basis
Reading Time: 4 Min The new year is upon us and that means big change. A 6 day a week gym habit! An all salad diet! Big outcomes require big change, right? Eh. Not really. I just finished an interview with Forbes about my recommendations for money management in 2017, and I’d like to
Reading Time: 3 Min The end of the year is generally the time when most folks revisit their budgets and set new goals for the coming year. That makes it the perfect time to talk about one of my favorite budget items. Ever lose a concert ticket which is nonrefundable? The self-recrimination is immediate: You
Reading Time: 7 Minutes When I was just starting out, I read pretty voraciously about how to invest and where I should put my money. The advice is varied and often piecemeal. For a few years, I dumped my money into a Fidelity target fund. It gave me an allocation of stocks and bonds
Reading Time: 9 Minutes When you get right down to it, the pattern we all follow to reach retirement escape velocity is very much the same. Our nest eggs are all governed by the same two simple equations. Universal Retirement Equations 1) Income – Spending = Savings 2) Savings x Growth X