As I get older, and hopefully more wiser, I look back and reflect whether my financial grinding early on was worth it. From my early days when I started working, someone more wiser than me gave me the best advice. It was to maximize my 401K. From this moment and because my paycheck wasn’t that big I had to live minimally while not sacrificing experiences. I could have coasted along by spending on things that would temporarily satisfy my wants…
If you have a retirement account with your employer such as a 401K and they contribute towards by matching a percentage, have you ever thought to wonder what that equates to? My employer matches 5%. When I hear that, my thought is that 5% of my retirement account is from my employer and 95% is from my contributions. What I didn’t factor is the potential earnings the 5% would carry. Employer contributions and its earnings have high potential to increase…
Have you ever moved money to the wrong account? If so, it may cost you to fix it. I have several accounts that I manage because I also manage my kids custodial accounts. With cash brokerage accounts, IRA accounts, and Roth accounts, it can start to look the same. What happens if you accidentally funded the wrong account? Depending on which account it is, it could be nothing or it could be something. I made a mistake and it cost…
Sequence of returns…you may have heard of this term but what is it really and why is it important? Sequence of returns refers to the order of your investment returns which means keeping track of every investment from the time you fund it to the time you withdraw from it understanding the gains and the losses you will experience. Buy low sell high is what we strive for but what if you’re in a situation where you bought high and…
Recently, the talks of inflation in the economy news have been the main topic. The cost of goods and services are going up. From rising prices of eggs to cars, everyday consumers are experiencing the effects of Inflation. If you’ve been reading my articles, I’ve also been a proponent of points, miles, and cash back programs. I’ve been able to redeem for cash, gift cards, airline flights, hotels, and more. What I realized is that these, too, are susceptible to…
RIF’s are in the news recently which is Reduction In Force also known as laying off, buying out, or early retiring the federal workforce. The goal of the current administration is to reduce the federal workforce by tens of thousands of workers. When a mass layoff of tens of thousands of employees happens there will be an impact from RIF’s. Will it affect you? Let’s just say if the federal government reduces the workforce by 100,000 people across all the…
It’s been around 20 years since I had a laid off experience. I vowed that I would prepare myself more confidently to manage through a layoff if I ever had to go through another one. The future of my employment is 50/50. 20 years ago I would be stressing out. Today, those stresses are much lower because I have built that financial security over these past 20 years. Minimize the effects of being laid off. Here’s what I’ve done to prepare myself. Build…
The thought of getting laid off is unsettling. Having your primary source of income no longer available is one of the most vulnerable feelings you can have. How will you pay rent, mortgage, car loan, insurance, food, clothes, and other bills. No job is 100% safe, not even federal jobs. Have you ever thought of what to do if you get laid off? I’ve been laid off once and I will never forget the feeling when I received the news….
The market is in a nose dive. From increased tariffs to lower consumer confidence, the stock market is trending down. Concerns with inflation and laying off thousands of federal workers are also concerns that could impact the market and economy. How far and how much longer will longer will this dip go on for? Is this more than a dip? The Dow has dropped over 2000 points in a month’s timeframe. The general practice is to buy equities during a…
Lately, prices on many things have started to rise. You probably noticed that egg prices are rising, grocery bills are higher, and eating out is starting to hurt your pocket. Food prices are not what they used to be. Food is something you absolutely need to survive and can’t cut this out of your budget. Dealing with rising food costs is something we will have to adjust for. Here are a few ways that I’m adjusting. Cook more at home…