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Final Call for New Site Details
Hey, gang! I hope this message finds you having a great weekend!
Last time I posted about my new site I still received several requests for it, though far fewer than in the past. As promised, I'll keep posting now and then as long as people ask for the new site, but this might be the final call for it.
If you want an email sent to you with my new site listed, you have two options:
The Poor Gamble More than the Rich
Here's an interesting piece from Rich Habits which says the poor gamble more than the rich. Some details:
6% if the rich gambled regularly on the lottery vs. 77% of the poor and 16% of the rich gambled on sports at least once a week vs. 52% of the poor.
Someone (was it Dave Ramsey?) used to say that the lottery was a tax on people who were poor at math. Really, all gambling is. The odds are not in your favor. For each dollar you wager, you get back less than $1 on average. In many cases, much less.
I prefer to invest $1 and get $1+ back. I particularly like index funds and real estate but there are other ways to grow your money of course.
Resolve or Not Resolve: That is the Question
Here's a topic for discussion: do you make New Year's resolutions each year or do you think they are a waste of time?
I'll be interested to hear your responses.
Personally, I'm a big resolution maker. I break my resolutions down by subject (like "family", "finances", etc.) and make commitments that are both daily (i.e. "workout") as well as bigger-picture (i.e. "take three trips with family this year").
I then track them all via a spreadsheet each day and hold myself accountable to accomplish a vast majority of them (I actually have a point system that scores my efforts and I need to be above a certain goal to be "successful" for the year. Yes, I'm a resolution geek/nerd.)
Star Money Articles for the Week of December 26
Welcome to this week's edition of Star Money Articles.
ESI Money has a financial advisor who is not an expert.
Physician on Fire likes a job where you take 40 weeks off a year.
Debt Discipline discusses money and work songs.
Budgets are Sexy tells how to make money selling Christmas trees.
The Green Swan asks if he should self-insure.
Why Does the Government Have to Get Involved in Retirement?
Ugh. For some people, "get the government involved" seems to be the answer to everything.
In particular, here's a piece from the NY Times saying that the government can be the solution to our country's retirement "problem".
A summary of their thoughts:
A requirement that employers siphon money out of every employee's paycheck and put it into a retirement plan (unless the worker opts out) would both promote self-reliance and create a foundation for a safety net.
First of all, is there really a retirement problem? I've posted before on how little people have saved for retirement and readers have asked if there really is a problem. Maybe there isn't. Are we trying to solve an issue that doesn't exist?
Second, isn't Social Security a safety net? If not, what is it? If so, why would we need another one?
Retirement Guidelines: What Your Should Have Saved by Age
Investopedia lists some retirement guidelines that are quite interesting. In particular, here's what they say you should have saved for retirement by given ages:
- By age 30: Accumulate the equivalent of your annual income that year
- By age 40: Three times that income
- By age 55: Seven times
- By age 67: When you say sayonara to the working-stiff life, 10 times your income
A few thoughts here:
Seven Things to Do Before You Quit Your Job
US News lists seven things to do before you quit your job as follows:
- Make sure you've thought the decision through.
- Find out how your employer has handled other people's resignations in the past.
- Remove any personal files from your work computer.
- Take home any samples of work or contact information that you might want in the future.
- If you're leaving for another job, make sure that you have a formal, confirmed offer.
- Think through your messaging.
- Know how you'll handle a counteroffer.
A few thoughts on these:
Star Money Articles for the Week of December 19
Welcome to this week's edition of Star Money Articles.
ESI Money says to stop acting rich.
1500 Days has an interview with ESI Money.
Equities lists another money saving tip people hate.
Debt Roundup has great New Year's Eve ideas to save you money.
Money Qanda discusses unusual money habits of the uber-rich and powerful.
Family Money Plan asks what is your daily spending rate.
What's Your Take on Store Credit Cards?
Bankrate recently shares the pros and cons of store credit cards.
Overall there wasn't much new information there, but it got me to wondering what FMF readers think about store credit cards.
Personally, my credit card strategy does not involve many store credit cards. Here's why:
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