Welcome to this week's edition of Star Money Articles.
We'll begin with a great reminder from Vanguard. Key quote: "Understand that making knee-jerk changes to your portfolio may feel like control but is actually detrimental to your long-term financial well-being."
Anyone think that the first million is the hardest to get to? There are good reasons that's the case.
The Mad Fientist tells us how to access our retirement funds early.
Two stories, same result.
Before I retired, we were hiring for a senior management position in our marketing department. After several months looking for the person with the right skills and fit, we had a candidate we liked. He was at the final phases of the interview process. All he had to do was pass a background check and we would have extended him an offer.
Well the background check came back with something. He had been convicted of a minor felony. He had said he had no convictions in his past. To make a long story short, we ended up not hiring him. We didn't pass on him because of the conviction (it was long ago and not that big of a deal), but because he lied to us.
When we told him we weren't hiring him and why, he admitted that he had lied, apologized, and said he understood completely.
Here's an interesting article that says the investment choice of the poor is alarming.
It reviews a Gallup survey that asks Americans to choose the best investment from a list of choices. Sounds harmless, right?
Well, here's what causes the author to be concerned:
The most interesting thing is that there are some serious differences between the investment styles of the poor and the rich. First, the rich love real estate and stocks:
Here's an interesting question: how much should you spend on an engagement ring?
Before we get to the "answer", let's look at some very interesting quotes from the piece linked above.
Let's begin with this one:
If De Beers put the burden on men to buy the perfect stone, Facebook and Instagram have ratcheted up the symbol of love to new levels. Jewelers report that their male customers indicate with increasing frequency their fear of proposing with an inferior ring not worthy of posting on social media. Some men who are especially reticent resort to purchasing "holding rings," temporary tokens of engagement that the woman can later swap for a handpicked ring.
I'm not sure exactly what they are saying here so maybe someone can enlighten me.
Money lists 12 habits of millionaires as follows:
1. Millionaires are super savers.
2. They get an early jump on building wealth.
3. They value hard work.
4. They invest for the long term.
5. They don't take crazy investment risks.
6. The majority seek out advice.
7. They value education.
8. They splurge but within reason.
9. Some aren't above serious economizing.
10. They shop at discount stores.
11. They tend to be planners.
12. They are givers and not gamblers.
Here's my take on these:
Hey, gang! I hope this message finds you having a great weekend!
Last time I posted about my new site I received several requests for it, though far fewer than in the past. I'll keep posting now and then as long as people ask for the new site, but this might be the last call for it.
If you want an email sent to you with my new site listed, you have two options:
Welcome to this week's edition of Star Money Articles.
We'll start with alternatives to eating out. I love to eat out (as do my kids) so I needed these ideas!
I'm seeing more and more posts on using an HSA as a retirement account and I liked this one.
Money Boss shares highlights from FinCon 2016, the annual conference for money bloggers. Thought some of you might enjoy the pics and hearing "behind the scenes" stuff.
Here's a blogger who's three months away from retiring. Thought you may want to see him bring it home.
It doesn't happen very often, but once in a while a mainstream media article gets personal finance right.
Here's a case in point: this piece from US News that lists the three most important things to include on your resume:
In particular they hit a home run IMO with #2. Here it is:
US News lists five part-time jobs that are perfect for retirees as follows:
Here's my take on these for me personally:
Kiplinger lists six ways to improve your odds of success at investing as follows:
1. Using low-cost, low-turnover solutions—preferably index-like mutual funds with a relatively low focus on active management.
2. Hire a fee-only objective adviser to help you sort through your holdings, provide recommendations and monitor them.
3. Keep a low percentage of your assets in "wager" investments, such as a new company or another unproven idea that you'd like to take a chance on.
4. Get objective advice on your employer's retirement plan holdings.
5. If you have a large enough portfolio, consider putting together a diversified basket of high-quality stocks and holding them for a very long time.
6. Ignore fund company advertising.
Uh, ok.
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