Interesting and timely article. I'm currently in the process of ceasing my 401k to start an alternative retirement strategy that works for me. After researching my 401k, I found a few things that were a cause for concern. Does anyone pay attention to how much their fund of choice charges each year for maintenance? Personally, my fund charges about 1%, which is the 2nd most expensive fund available to choose from. 1%, who cares right? 2 things - 1)1% is $1,000 per $100,000 EVERY SINGLE YEAR. 2) If you take out that 1% out of my gains for the year, that fee eats up 20-30% of my gains for the entire year so far. That sucks. I also hate the lack of control. The money I have in the 401k is frozen - I'm not allowed to cash it out. I also have no choice if I want a different fund. I also must be careful of how much I withdraw in retirement. No thanks. 401k is the biggest hoax of all time, in my opinion - company matching included. Oh, the company doesn't match for your benefit - check out the tax benefits they get for doing so sometime. I have an MBA in Accounting and Finance - not just talking out of my keyboard.
We have a senior dog and two goldfish. We don't spend too much on them per month, (less than $20), but get much more back in return in terms of companionship.
I will share pretty much anything in regards to my finances. I learn a lot from others, and vice versa. As a general rule, I share info that I'm not only comfortable with, but I take in the possible opportunity cost of not finding a possible solution to a financial issue if I don't share. Granted, many of things I share are the things I learned after a financial apocalypse, not during. Because of that, I have many that ask for my advice.
I had a chocolate lab, but she passed away a month ago after nearly 15 years of awesomeness. I'd love another chocolate lab. My fiance has 2 cats. They cost us about $100-$150 a month - namely because 1 of them has a digestive disorder that requires special food (it's far easier to feed 2 cats the same way than to waste what little sanity I have left trying to feed 2 cats 2 separate diets). After some research, I found a non-prescriptive alternative that was nearly 50% of the cost. From there, I found the same identical product on chewy.com for 30% additional savings. Researching isn't just about finding savings. Sometimes an alternative makes all the difference.
I have two dogs, both rescued as puppies. My 50 pound guy is eleven years old this year. My 16 pound guy is ten. They are such brothers. It's a really sweet relationship. I spend about $30 a month on food and treats. I put aside $35 a month for their annual vet visit, although that's not always enough. If I want to buy a six month supply of their monthly heartworm meds, then i need to put back more. When they go to the vet for various ailments throughout the year (a recent dew claw problem for one and an allergy issue for the other) I have to pull from my emergency fund. But I don't mind. They make everything better. I take them as many places with me as I can. We're a unit. All the rewards of frugality in the world couldn't convince me that dogs aren't worth the price of their care.
We have a 13 year old Bichon Frise dog, name Tillie, that we've owned for 12 years. She has a very tenderhearted nature. We also have a tuxedo cat, Libby, who adopted us about 7 years ago. We don't know her age, but know she wasn't young. They are best friends. Both of them are great companions to us and would be dearly missed if they were no longer a part of our household.
We do purchase the better pet foods, but buy them in the larger bags to keep down costs.
I would tell myself to travel as much as I could, but never going into debt to do it! Save money and don't buy it unless you can already pay for it. (Has worked wonders in our life, it's exactly what I tell my kids!)
I would have told myself not to worry about what others think. In the long run most of those people whose opinions you worry about won't even be around you so who cares
Thank you for the tip to buy Amazon e-gift cards with the remaining balances! That was not an option I had heard before, and it worked beautifully for me. I was so sick of carrying around these four gift cards with small balances (under $35 total) and I use Amazon all the time, so this is a perfect way to use the rest of the money up with very little hassle!
I got one of these cards too, from netSpend but it's a MasterCard, not VISA. It's been tossed in the junk drawer for I don't know how long now, ran across it looking for something else.
I remember a few months ago when I was researching dresses on Amazon and Google. I spent hours scouring websites for the perfect dress. Then when I went on Facebook, all I was seeing were ads for dresses. It's like every move that I made was factored into the type of ads that I saw. It really opened my eyes and I realised that nothing you do on the internet is safe.
I wish that when I was younger I would have focused on one thing and became successful at it instead of being all over the place and not really becoming good at anything
I have a cat named Molly , and a Dog named Biggles. They are so much fun.
I don't have pets right now but would like to get a poodle in the future.
Yes, I have an insane tuxedo (black with white) cat. My daughter has a guinea pig.
I have never had a pet.
Interesting and timely article. I'm currently in the process of ceasing my 401k to start an alternative retirement strategy that works for me. After researching my 401k, I found a few things that were a cause for concern. Does anyone pay attention to how much their fund of choice charges each year for maintenance? Personally, my fund charges about 1%, which is the 2nd most expensive fund available to choose from. 1%, who cares right? 2 things - 1)1% is $1,000 per $100,000 EVERY SINGLE YEAR. 2) If you take out that 1% out of my gains for the year, that fee eats up 20-30% of my gains for the entire year so far. That sucks. I also hate the lack of control. The money I have in the 401k is frozen - I'm not allowed to cash it out. I also have no choice if I want a different fund. I also must be careful of how much I withdraw in retirement. No thanks. 401k is the biggest hoax of all time, in my opinion - company matching included. Oh, the company doesn't match for your benefit - check out the tax benefits they get for doing so sometime. I have an MBA in Accounting and Finance - not just talking out of my keyboard.
We have a senior dog and two goldfish. We don't spend too much on them per month, (less than $20), but get much more back in return in terms of companionship.
I will share pretty much anything in regards to my finances. I learn a lot from others, and vice versa. As a general rule, I share info that I'm not only comfortable with, but I take in the possible opportunity cost of not finding a possible solution to a financial issue if I don't share. Granted, many of things I share are the things I learned after a financial apocalypse, not during. Because of that, I have many that ask for my advice.
I don't have a pet right now because of the hours I work as a grad student. But, I really want a golden retriever!
I had a chocolate lab, but she passed away a month ago after nearly 15 years of awesomeness. I'd love another chocolate lab. My fiance has 2 cats. They cost us about $100-$150 a month - namely because 1 of them has a digestive disorder that requires special food (it's far easier to feed 2 cats the same way than to waste what little sanity I have left trying to feed 2 cats 2 separate diets). After some research, I found a non-prescriptive alternative that was nearly 50% of the cost. From there, I found the same identical product on chewy.com for 30% additional savings. Researching isn't just about finding savings. Sometimes an alternative makes all the difference.
Yes, I have a pet! Actually two, a dog and a cat!
Two dogs.
I have two cats and two dogs. I think I spend $100 a month on them
I have two dogs, both rescued as puppies. My 50 pound guy is eleven years old this year. My 16 pound guy is ten. They are such brothers. It's a really sweet relationship. I spend about $30 a month on food and treats. I put aside $35 a month for their annual vet visit, although that's not always enough. If I want to buy a six month supply of their monthly heartworm meds, then i need to put back more. When they go to the vet for various ailments throughout the year (a recent dew claw problem for one and an allergy issue for the other) I have to pull from my emergency fund. But I don't mind. They make everything better. I take them as many places with me as I can. We're a unit. All the rewards of frugality in the world couldn't convince me that dogs aren't worth the price of their care.
We have a 13 year old Bichon Frise dog, name Tillie, that we've owned for 12 years. She has a very tenderhearted nature. We also have a tuxedo cat, Libby, who adopted us about 7 years ago. We don't know her age, but know she wasn't young. They are best friends. Both of them are great companions to us and would be dearly missed if they were no longer a part of our household.
We do purchase the better pet foods, but buy them in the larger bags to keep down costs.
do better in school.
I wish I hadn't been in such a hurry to grow up.
I would tell myself to travel as much as I could, but never going into debt to do it! Save money and don't buy it unless you can already pay for it. (Has worked wonders in our life, it's exactly what I tell my kids!)
I would have told myself not to worry about what others think. In the long run most of those people whose opinions you worry about won't even be around you so who cares
Thank you for the tip to buy Amazon e-gift cards with the remaining balances! That was not an option I had heard before, and it worked beautifully for me. I was so sick of carrying around these four gift cards with small balances (under $35 total) and I use Amazon all the time, so this is a perfect way to use the rest of the money up with very little hassle!
I got one of these cards too, from netSpend but it's a MasterCard, not VISA. It's been tossed in the junk drawer for I don't know how long now, ran across it looking for something else.
Great tips Tim. Keep it up!
I remember a few months ago when I was researching dresses on Amazon and Google. I spent hours scouring websites for the perfect dress. Then when I went on Facebook, all I was seeing were ads for dresses. It's like every move that I made was factored into the type of ads that I saw. It really opened my eyes and I realised that nothing you do on the internet is safe.
I would have told my younger self to not spend money on things that don't last like clothes. I wasted a lot of money on clothes
I wish that when I was younger I would have focused on one thing and became successful at it instead of being all over the place and not really becoming good at anything
You have more discretionary income than you realize. Spend and save it wisely.