Right now, the state of Michigan is messing with both! According to a new law that was passed in our state called Senate Bill 1040 or SB1040, all public school employees are going to have their pension plans altered (aka reduced). The best part is that they let you decide how – by choosing from one of four somewhat convoluted choices. Isn’t that nice – would you like to cut off your thumb, ear, or toe?
Archive for September 29, 2012
Sometimes when it comes to financial advice, you don’t want a lot of fluff. You just want someone to tell you like it is – straight and to the point. Not a whole bunch of “maybe this, maybe that”. That aspect is what I loved about the Smartest Retirement Book You’ll Ever Read by Daniel R. Solin – definitive and conscience advice!
So far I’ve already written two separate posts highlighting pieces of advice in this book. But there’s actually a lot more to it. Solin has JAMMED PACKED this book full of useful knowledge. The information it contains could be appreciated by both newbies as well as intermediate/advanced investors. Here’s some of the more important tidbits you can take away from The Smartest Retirement Book:
Hi Everyone! Today I have a guest post over at Club Thrifty entitled “Should We Try to Leave Something Behind?”. It’s an article that discusses a disturbing trend where people no longer seem to be leaving any money behind to their heirs or favorite charities because … they can’t! They have nothing leftover when they die due to a lack of retirement planning! Please be sure to check it out! Thanks!
My, the difference time makes! Just 3 years after the financial and automotive bailouts, the jobs reports and economic turnaround data in the U.S. seem to be looking brighter from a number of different angles. In particular in the manufacturing industry, the number of openings for skilled factory workers has increased 152% since 2009 according to a recent article from CNN Money.
The U.S. States with the greatest demand were Ohio, Michigan, Texas, California, Illinois and Indiana with jobs ranging from machinists and tool-and-die makers to computer-aided machine operators and similar specialties. Starting salaries were as much as $45,000 to $50,000. If you approximate that to $23 to $25 dollars per hour, that’s not too bad of a starting wage in this economy.
Unfortunately, however, the turnaround is still somewhat slow in pace for other parts of the world.
The end of Summer and back to school time are a period of change for our household finances. This is generally when my wife and I get our raises, her contract gets negotiated, and a lot of other expenses or credits get mixed into our budget.
So for us, this is a great time to take another look at our cash flow plan and see if any revisions are necessary.
If your house is anything like mine, the Fall can be a very exciting time. The kids go back to school, my wife (a teacher) goes back to work, most of our children’s sports activities start again, and life goes into extreme overdrive! But with that sudden burst of excitement and lack of spare time, it can be easy to break your household budget and fall off the wagon. So rather than ignoring your money design, here are a few simple steps we can take to make sure they stay on track.
It wasn’t that long ago that your favorite online bank account was paying nearly 4 to 5%! All of that for doing nothing except stashing your money in the bank! While the rates today are not as great as they used to be, don’t forget that a high yield savings account can still be an important part of your personal finance strategy.
You may be working on saving up for the deposit on your very own home, going on an overseas trip, or buying a brand new car. Not only will each of these efforts require a carefully devised budgeting plan and a great deal of willpower, but you can also use the stability of a high yield savings account to help as well. Here are a few reasons why:
No, that’s not my retirement savings in the photo on the left. You’re looking at the proud earnings of my children after a day’s worth of being young entrepreneurs. That’s right – my kids got the bright idea that they would accelerate their earnings by trying to make their own money.
It doesn’t matter if you’re if you’re a child or an adult. There will be times you want to say goodbye to your job because it seems like it would so much easier to make money on your own. But like my kids found out, the grass is not always greener on the other side. Nonetheless, I was really happy that they gave it a shot and got a little bit of a laugh out of the experience. Here’s how things went …