If there's one question about retirement planning that many people feel unsure about, it's this: How much should I contribute to my 401(k) each year? Seriously ... what's the magic answer? Is it 5%? 10%? 15%? Take a stroll around the Internet, and you're bound to find a number of opinions from reputable sites. For example, Investopedia is quoted as saying that "a good sweet spot is between 10% to 15%". That's not surprising; especially when you consider that when you're young (in your 20’s and 30’s) and just starting out, retirement can feel like such a long ways away. You know you should be saving up for the future. But at the same time you've got to balance your finances against goals that are in the present such as your family … [Read more...] about How Much Should I Contribute to My 401(k) Plan? This is the Number You Need to Hit!
How to Fly to Hawaii On Points – We Saved Over $5,000!
If you've ever wondered how to fly to Hawaii on points, give your family the type of vacation that others only dream about, and save thousands of dollars in the process, then you're in luck! It's a goal that is completely possible, and this is our story about how my family and I were able to make it happen! Traveling to Hawaii has been a dream of our's for quite some time. Ever since I was a small child, I could remember my elderly relatives talking about what incredible memories they had of their vacation in Hawaii. Combine that with that fact that Hawaii serves as the backdrop to dozens of famous movies and iconic moments throughout history, and my curiosity has definitely been peaked! While there are certainly many other exotic … [Read more...] about How to Fly to Hawaii On Points – We Saved Over $5,000!
Financial Freedom Has Never Been About The Money
Christmas has always been a special time for me. As a small child, I would spend every night leading up to Christmas morning wondering what was going to be underneath the tree waiting for me. As a young parent, Christmas became a whole lot less about "what I wanted" and more about how much my wife and I could surprise our kids. Now, Christmas means just a little something different to me. It was Christmas 2014 when I was a seemingly perfectly healthy 34 year old husband and Dad. Then, not 15 days later into January, I went to the hospital only to find out that I had Stage II cancer. When you’re in the hospital waiting to find out what’s going on exactly and how bad your situation really is, certain things tend to … [Read more...] about Financial Freedom Has Never Been About The Money
How To Get a Perfect Credit Score & How You Can Improve Yours
Have you ever wondered how to get a perfect credit score? So MUCH of what we buy or finance depends on our creditworthiness. Everything from which type of credit card rewards you enjoy to your mortgage is determined by this one score. So it's definitely not something to be taken lightly! Recently I applied for my fourth credit card in the past 12 months. I've been doing this to get tons of rewards points that I can then use for travel. Last summer, we were able to take two incredible vacations and saved almost $5,000 in the process! Whenever I tell people I'm applying for this many credit cards, the thing I always hear is "you're going to kill your credit score!" ... Will I? Don't be so sure ... As of the writing of this … [Read more...] about How To Get a Perfect Credit Score & How You Can Improve Yours
ETF vs Mutual Fund – Why My Money is with Mutual Funds
When it comes to planning for retirement and diversifying your investments, these days your choices pretty much fall between one of two major options – the ETF vs mutual fund. Recently while rolling over my old 401(k) to an IRA with Vanguard, I had to make a very big decision as to which way I wanted to go. I could stick with their low cost mutual funds which I was very familiar with. Or I had the option to pick commission free ETF’s. Having six figures of retirement savings, this was in no way a decision to be taken lightly! Choosing the right type of funds could mean saving myself thousands and thousands of dollars in unwanted expenses or trouble later on when I’m ready to start making withdraws from my funds. I’ve been an … [Read more...] about ETF vs Mutual Fund – Why My Money is with Mutual Funds
The Top 7 Money Excuses That Hold You Back From Financial Independence
One of the greatest obstacles we have to truly achieving financial independence are the money excuses we make for ourselves. I love to talk to people about money! Yet I can’t help but notice how many times a conversation ends in “I could never do” or “why that will never work for me”. These excuses are the lies we tell ourselves to make it seem better when we’re not where we want to be with our money. It’s no secret why we do it. Excuses are easy! They’re a convenient place to run and hide when there’s real work to be done. But as the expression goes, “time is money”. And the more time we waste, the further away we get from becoming financially independent. That’s why I’d like to address a few of the most common money … [Read more...] about The Top 7 Money Excuses That Hold You Back From Financial Independence
How I Got My Property Taxes Lowered (And You Can Too!)
I'm all about challenging your bills and saving some money on your everyday expenses like your phone, cable, and insurance. But have you ever considered that learning how to get your property taxes lowered might be the mother-load in savings? That's what I did. And in one sweeping move, I was able to save $1,084! That's right! By protesting my county tax assessment, I was able to change the opinion of the value of the dirt beneath my feet and won! Here's how I was able to do this successfully, and how you can , and hopefully how you can too! The Back-Story: About 8 months after moving into our new house, I received my first county tax assessment notice for this house. According to them, the taxable valuable of my house had … [Read more...] about How I Got My Property Taxes Lowered (And You Can Too!)
How This Couple Was Able to Retire Early After Just 15 Years of Saving
Do you think you need 30 years of saving to make your retirement happen? Do you think you need to make a lot of money? Or know what the best stocks are to invest in each year? Of course not! I’m a huge fan of early retirement stories of the everyday-man; stories that prove that good-ole fashioned saving, simple investing, and living within your means CAN and WILL provide you with not just the means to enjoy a healthy retirement, but (when used correctly) the opportunity to retire 20 years ahead of the typical schedule! One incredible example of this has been captured in the outstanding ebook “How to Retire Early” by Robert and Robin Charlton. The book tells the tale of exactly how the two of them were able to retire after … [Read more...] about How This Couple Was Able to Retire Early After Just 15 Years of Saving
