Imagine you’re about to set out on a road trip. You would absolutely need to have an idea of where you wanted to go – north, south, east, or west. You would have to work within the confines of how much time you had for this trip – that would determine how far you could go. Your financial goals are no different than that road trip; failing to plan means planning to fail. Even if you haven’t given retirement much thought, in terms of what it looks like and feels like, chances are Read on...
Investing Your Time Productively
“Hello I’m a procrastinator,” I may as well have introduced myself in this manner at the training session on time management. It turns out, I was in good company. Though I didn’t realize it at first, the room was filled with others who shared my dirty secret. The instructor stood at the front of the room holding up the calendar/planner and asked us to start our day – as we should every day – with a to-do list. When our pens stopped moving, he asked us to prioritize our list with A for Read on...
Math that All Kids Will Love
Do you want to get your child’s attention and encourage them to save money? A little basic math will show them how they might become millionaires – if they start investing early. Consider this hypothetical example: A teenager has a part-time job and puts $2,000 of her earnings into a Roth IRA every year starting at age 16 and ending at age 20. Then, she leaves that $8,000 total investment to compound for 47 years at an average rate of 10.7%. Even though no additional money is added to the Read on...