The short answer—yes! If you invested $10,000 at 9% when a baby was born, and never added another penny, they would have $1.1 million at age 55 and could retire early! When you have long periods of time — like 55 years — the results from compounding interest seem almost hard to believe. That being said — why don't people … Continue reading Can $10K Make a Baby a Millionaire?
Tag: personal finance
12 Ways to Create an Emergency Fund — Quick!
Not having money for emergencies can be extremely stressful. But a $1,000 emergency fund will put you in a better place than 57% of Americans – and it is a great goal to get started with. It will give you peace of mind, and it means you don’t have to take out a 20% interest … Continue reading 12 Ways to Create an Emergency Fund — Quick!
What’s the Difference Between Credit Profile, Credit Score, and Credit History?
Not sure about the difference between these three things? Simply put, your credit profile is made up of two things: 1. Your credit score.2. Your credit history. Your credit score is based on your credit history. But here is the thing – your credit score only matters if you are planning to get a loan … Continue reading What’s the Difference Between Credit Profile, Credit Score, and Credit History?
“I hope I can retire one day.” Don’t hope – know!
I often hear people say “I hope I can retire one day” or “Who knows if I’ll ever be able to retire.” Retirement can seem like this large, foggy area in the future that you can’t really picture, don’t know how to predict, and are afraid to look at because what if the outlook is … Continue reading “I hope I can retire one day.” Don’t hope – know!
Why Am I Seeing A Christmas Tree? (It’s about future planning.)
I know, we don't want to start thinking about the holidays! But now — not after the fact when the bills come due — is the time to start thinking ahead about what extra expenses will be coming up between now and the end of the year. This might include: holiday travel annual payments that … Continue reading Why Am I Seeing A Christmas Tree? (It’s about future planning.)
39 Percent Have No One To Talk To About Money
Back in my 20s and 30s when I was a broke theater artist I definitely had no one to talk to about money. I already got plenty of non-financial advice from my parents and sisters so I wasn’t about to ask them, my friends were all just as broke as I was, and the idea … Continue reading 39 Percent Have No One To Talk To About Money
One of Your Biggest Financial Decisions — Where You Will Live
Where you will live is a big decision, but it can also be a big opportunity to change your financial future.
Is Five Years Costing You Half a Million Dollars?
I wish I could get into a time machine and tell my younger self … start investing now! The effect that time has on investments is so incredible that even just starting small, I probably could have retired at 42 instead of 52! Not sure what I mean? Here’s an example: At age 30 Jane starts putting $250 per month into an index fund in her company’s retirement plan
Why Your Credit Card Shouldn’t Be Your Emergency Fund
Imagine this scenario … Bruce has a sudden dental emergency and gets a bill for $2,500. He doesn’t have any savings – who knows where the money goes each month – so he puts it on his credit card at 20% interest. “Luckily” the minimum payment is only $42 per month – he can figure … Continue reading Why Your Credit Card Shouldn’t Be Your Emergency Fund
August is National Wellness Month
August is National Wellness Month, which was founded to encourage people to focus on their health – self-care, stress management, and healthy routines. But financial health is also a big part of a person’s overall wellness. Financial issues contribute to stress, put strain on relationships, and can impact our mental well-being. Addressing your finances during … Continue reading August is National Wellness Month
Book Review: “The Millionaire Next Door”
The Millionaire Next Door by Thomas J. Stanley and William D. Danko is on many lists of “top personal finance books” – but should you read it? If you are looking for a book on how to manage your personal finances – this isn’t it. But if you are curious about the lifestyle of the … Continue reading Book Review: “The Millionaire Next Door”
Why Choose Personal Financial Coaching?
Every person’s money situation is unique. We each have our own pre-existing financial habits, and a unique set of experiences that have shaped our relationship with money. As a personal financial coach I can give you straight answers that are specific for your situation – which is something you can’t get from a book or … Continue reading Why Choose Personal Financial Coaching?