This is Part 3 in the guest series, Get Your Ducks In A Row, which focuses on important financial knowledge to have in your 20s, written by someone in who’s just starting out in the working world. All posts in this series are available here. ____________ Thinking about retirement during your first job may seem like a juxtaposition. You’re battling …
The Fast Track to Net Worth Growth
The other day, I came across an older post by Apathy Ends which provided “proof” that millennials should start investing in their 401(k) accounts immediately. As someone whose net worth growth is due almost entirely to my retirement accounts, I support this. As someone who blogs about personal finance, I can’t believe I’ve never analyzed the growth of those accounts before.
A Cash Fasting Reveal: My Net Worth
Prior to this summer, when I paid off my student debt, I didn’t think about my net worth. Why? I’ve been using Mint as a budget calculator for over four years, and the site couldn’t account for my loan balance because I owed my parents, not the bank. However, now that I’m done with debt, things have changed. Why am …
Wealth is greater than income
One of the biggest points that I like to highlight in money conversations is emphasizing the difference between wealth and income. Wealth is defined as your net worth; the total value of all your assets, minus your liabilities. Income is defined as your salary; the money you receive in exchange for your time/goods/services. Unless you’re got a huge inheritance, wealth …
How much money should I have in my retirement accounts?
How much money should you have saved up for retirement? A guide for your 20s.
What does it mean to retire early?
I recently stumbled across this very interesting graphic that shows, in one image, how long it will take you to retire. It’s so simple. If you want to retire early, you have two basic options: spend less, or earn more. That’s fine enough, but what does it really mean to retire early? When I tell my friends and family that …
What to do if your company doesn’t offer a retirement plan
A friend of mine is about to start a new job with a company that offers no company retirement plan. This is a tough situation to be in, mostly because it means that saving for your retirement is now in your hands. Most companies make it easy – you set your contribution amount, and you get that money taken out …