Category: Saving & Investing

Market Volatility – Friend or Foe?

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You may have noticed some scary headlines recently… Dow Plummets 700+ Points – Stocks Post Largest One-Day Loss in 2019 U.S. Trade War with China Intensifies Inverted Yield Curve Predicts a Recession …and you may also have noticed the resulting increase in stock market volatility. Does this make you nervous? Should you alter your investment portfolio? What is an investor to do? I am here to tell you to take a deep breath. It is important to understand that market Continue Reading →

A Readers’ Guide to Financial Independence

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Many people who know me are aware that I am a voracious reader! I am often asked for book recommendations on the topics I am most passionate about: personal finance, investing and financial independence. In an attempt to answer that question, and to offer a response that I can easily direct anyone toward, I have compiled a list of some of the top books that I feel may offer the biggest impact on one’s own journey toward financial independence. The Continue Reading →

An IRA for Your Child?

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Did you know that anyone with earned income is potentially eligible to fund an Individual Retirement Arrangement (IRA)? There are income limits that prevent high income earners from funding Traditional or Roth IRAs, but for a large portion of the population, funding an IRA is a viable option. Here is an interesting opportunity. Let’s say you have a teenager who works part time or has a summer job. As long as they have “earned income” (i.e. income reported on a Continue Reading →

Who Let That Lifestyle Creep In?

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Frankly, we did – guilty as charged. Many of you may already know what Lifestyle Creep is. For those who don’t, it’s when your standard of living keeps pace with (or potentially exceeds) any increase in your household income. A funny thing happened on our way toward financial independence. After my wife and I finished paying off all of our debt, we did as planned. The extra money no longer going toward debt repayment was put towards savings. And this Continue Reading →

Where to Stash Your Emergency Cash

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An emergency savings account should be a first priority when setting financial goals. The concept of this particular goal was discussed in the previous post – Rule #1: Spend Less than You Earn. Now let’s cover the details of making this a reality. The purpose of this savings safety net is to cover unexpected “emergencies” such as unemployment or loss of income, a major medical expense, an auto repair, a home appliance repair or replacement, etc. The primary function of Continue Reading →