Search results for retirement
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Posted
Sep 27 2007, 09:33 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Your daughter is a "late-bloomer." She's 28 and still living at home. What's your obligation to her, particularly when supporting her is delaying your retirement? A young blogger examines the ethics involved in this situation.
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Posted
Nov 05 2007, 02:57 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
JLP chimes in about news of casualties of the subprime mortgage debacle in a short but sweet post at AllFinancialMatters called "I don't understand severance pay." He notes the huge compensation of Stan O'Neal, the ousted CEO at Merrill Lynch ($161.5 million in restricted stock, options and retirement benefits) and Charles Prince, who quit as head of Citigroup Inc. (and "appears to be eligible to depart with cash and equity valued at roughly $31 million," said The Wall Street Journal). "When most people get fired from a job, they walk out with a box full of their stuff, not a nice monetary gift. Why is it not the same for a CEO?" JLP asks.
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Posted
Nov 16 2007, 03:05 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
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."
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Posted
Jan 18 2008, 07:16 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Millionaire Mommy Next Door offers a suggestion for making $1 million for retirement, and it all begins with lunch. You don't spend $9.50 for lunch every workday, and instead eat a $3 lunch from home. You invest the difference in a Roth IRA, and "let the account simmer for 41 years," she says. (We can only imagine how much more money you would have if lunch were a simple tuna fish sandwich and an apple, instead of, say, Lean Cuisine.) This wonderful post illustrates the beauty and power of compound interest in a way everyone can understand. Her point is that you can make even small amounts of money work for you in a meaningful way.
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Posted
Jan 09 2008, 05:34 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Have you seen this episode of "The Office"? Michael, worried about his money (or lack thereof), tells officemates he's declaring bankruptcy. Oscar schools Michael on money, using a three-column spreadsheet to illustrate Michael's spending. One column is for necessities, one is for wants, and the third and largest is what he has spent on things he doesn't need. We can learn a lot from this, writes RacerX of Life, Liberty and the Pursuit of Money. "In other words," RacerX writes, "a trip to Europe is a desire, contributing to my IRA so I don't eat dog food when I am 70 is a want, much less making sure I have my own shelter (a need)."
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Posted
Jan 10 2008, 01:09 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Ana's thoughts upon reaching her 35th birthday will sound familiar to many people: "Looking back, I've been a bit of a wild child. I shudder to think of how much money I have spent over the years on alcohol, cigarettes and assorted junk that has long been thrown out," she writes at DebtFree-Revolution. She also has a mere $391 in her retirement account.
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Posted
Jan 24 2008, 01:12 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Jeremy at Generation X Finance writes that the 401(k) debit card is "probably one of the worst ideas ever." This increasingly popular card allows you to tap your retirement account for any kind of purchase, including your silliest impulse buys. "That's right," Jeremy writes. "Now people can go shopping for that big-screen HDTV and instead of using a credit card or money they have in the bank, they can just swipe their 401(k) debit card and use those funds."
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Posted
Jan 28 2008, 03:47 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
A group of personal-finance bloggers joined forces to produce a collection of valuable posts about managing money from infancy to the grave. You can find a synopsis of their work and links to each post by clicking here. From getting baby's first piggy bank to making retirement savings last, the excellent information contained in these posts addresses common questions -- both basic and beyond -- about money management. Madison at My Dollar Plan is first out of the gate with a guide for parents of infants. The first thing you must do, she says, is get your baby a Social Security number. She advises how to set up a 529 plan to save for your child's college education, and how relatives can do the same and get a tax break. This comprehensive post also covers topics like wills, taxes and insurance.
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Posted
Feb 11 2008, 04:49 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from J.D. Roth at partner blog Get Rich Slowly. During the 20 years I carried consumer debt, I made several attempts to change my habits. Every time I decided to lick the debt monster, I would follow the advice in the financial books: I'd arrange my debts in order, listing the one with the highest interest rate first. I'd pay extra on that bill for a couple of months, but then give up in frustration because I didn't seem to be making any progress. An extra $100 on a $12,000 balance doesn't make a dent. Eventually I read Dave Ramsey's "The Total Money Makeover." His debt snowball method changed my life. Ramsey writes: Personal finance is 80% behavior and 20% head knowledge. The Debt Snowball is designed the way it is because we are more concerned about modifying behavior than correct mathematics. ... Being a certified nerd, I always used to start with making the math work. I have learned the math does need to work, but sometimes motivation is more important than math. This is one of those times.
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Posted
Feb 12 2008, 11:16 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Those facing a decision about staying at home with a new child or returning to work could do no better than to read Madison's personal analysis at My Dollar Plan. She figures in the obvious factors -- lost pay, reduced work-related and child care expenses -- and others that many people probably wouldn't think of. For instance: How would reduced family income affect any future plans to refinance the mortgage? How would happen to her future Social Security earnings? How would staying at home now affect her plans to have more kids later. And this: "If I didn't go back, would I resign, or would I take a leave of absence (which preserves my start date)? How does it affect my pension calculation?" she writes. She also asked readers to point out any factors she missed.
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