Gas prices have fallen over the course of the year and rapidly in recent weeks. You may have noticed this in news headlines and at the pump. The news stories may say this is great for the economy because Americans will spend more over the holidays. That might be true for most Americans but if you’re reading this blog that won’t be the case for you. This is a great opportunity to capture the money, no longer spent on gas, in meaningful savings.
Earlier this year I visited Panama. It was a fantastic place to vacation. Beautiful beaches, interesting wildlife, lush mountains and great food. I also visited the Panama canal. It celebrates its 100th anniversary this year. Seeing this amazing engineering feat firsthand raised more questions than answers for me. I was fascinated by all the decisions and challenges that went into making the canal a reality. It turns out, Panama’s history, both recent and past, gives us interesting perspective on market fluctuations.
It may seem that a marshmallow has very little to do with your retirement. However, delayed gratification has everything to do with retirement. Stanford researchers measured delayed gratification in young children using a marshmallow test. I’ll take a look at the marshmallow test, the importance of retirement savings and strategies you can use to increase retirement savings, which takes much delayed gratification.
In my approach to personal finance, I stick with principles and don’t get caught up in fads. That said, new technology can help reinforce and build on those principles. In this post I’ll explore online resources (in addition to SaveUp) that might help you with your personal finances.
This post was suggested by a friend who is maximizing his income using Airbnb. In his words, “I’m getting an extra paycheck per month renting my room on Airbnb.” This is great! He is getting creative to generate extra income. There has also been some controversy about the legalities of Airbnb and he is in a location that has been cooperative with that start up. Extra income is appealing, and new technology offers a number of ways to generate it. Once you’ve earned it we want to be sure capture it in meaningful way. Let’s examine these concepts in more detail…
Let’s look at the ripple effect that just a little savings in a qualified retirement account, such as an IRA or 401(k), can have on four distinct aspects of your personal finances. There is power in saving for the long term in a retirement account. Let’s see how this simple actions improves your finances.
Summer is coming to a close and school is back in session. This return to the classroom was the inspiration for this post. I first heard of some of the resources and statistics, mentioned here, this summer at a financial planning conference organized by The Garrett Planning Network, of which I’m a member. This is a group of fee-only planners who are, “making competent, objective financial advice accessible.” When I heard about resources for teachers I was excited to share them!
I thought I’d share some of my personal savings tips with you. The idea for this blog came when I cut $11 from my monthly internet bill. That might not seem like much, but I’m pretty excited to have an extra $132 a year. As we’ve seen in past posts, small savings amounts over time can have a meaningful impact on long-term goals. In this post I’ll share savings tips and concepts that motivate me personally.
I was recently at a financial planning conference hosted by the Garrett Planning Network. It provoked many ideas about the constructs we each have when it comes to our financial lives. I reflected on the deeper psychology around many of our financial decisions, particularly savings.
Talking to children about money is an evergreen topic for parents and financial planners alike. How do we have positive conversations with our kids about money? These conversations can feel crass and awkward but hopefully practical and rewarding as well. Often times it is not a conversation at all, but setting an example for children. It’s also important to give children experience handling money in a way that is accessible and understandable. Lastly, financial education will serve children well.