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• Treading water in the money pool? You might sink

  Posted Nov 30 2007, 04:38 PM by Karen Datko
  Filed under: Debt, Retirement, Credit, Saving

  You don't have to be a total screw-up -- bouncing checks, making late payments, ruining your credit score -- to be a poor money manager. You need help if you're merely "standing still." That's the message of No Credit Needed, who came to terms with his lack of long-term financial planning three years ago. Why did it take him so long? He was lazy, busy with the rest of his life, and didn't have anyone to talk to about money. "Also," he writes, "I felt like the magic day would come and I'd make enough and I wouldn't have worry about money. Sound familiar?"   Read More...

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• In your 20s? Save for retirement -- or simply retire

  Posted Nov 16 2007, 02:05 PM by Karen Datko
  Filed under: Investing, Debt, Retirement, Credit
  Rating:
  LifeEdit.net provides some very sound advice to people in their 20s about managing money: Save for retirement, pay off student loans as soon as you can, budget and keep your credit score high. But there's more than one way to skin this cat. The Retirement Hobo is 24 years old, and he's already retired. He's aware that some readers might be incredulous . "At a first glance, you might think my blog about (extremely) early retirement is about a lazy guy trying to find a loophole in the system so he can keep on being lazy. I assure you, that is not the case," he writes in his first post, called, appropriately, " Newly retired ." Hobo paid off his student loans and saved $70,000 when he was working. His goal is to earn a 25% return on his investments and to spend about $17,000 a year. He intends to live happily in retirement. "If I'm going to retire miserably, I might as well keep working miserably and get money," he says. This should be an interesting ride.
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