Month: May 2014

Reader Mailbag: The Innocent Man

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. Worried about student loan debt Accepting lifetime debt Community service suggestions Charity while in debt Cost of second child Starting a financially equal marriage “Freemium” Emergency fund …

Categories: Books and Reading

Ten Pieces of Inspiration #112

Each week, I highlight ten things each week that inspired me to greater financial, personal, and professional success. Hopefully, they will inspire you as well. I love looking at peoples’ bookshelves. It often opens the door to a great connection with someone. Today, I’m sharing some of those glimpses from people who have made share-able …

Categories: Books and Reading

Building an Investing Future

John writes in: You’ve mentioned before how a person might slowly build up income-earning investments to provide an income stream for them. How would that actually work? Let’s say I can squeeze out $100 a month for this. What would I do? Okay, let’s do this. First of all, you need to have selected something …

Categories: Investing

Spending Choices and Steps Toward Maturity

At Christmas, each of our children received a small amount of money as a gift, along with encouragement for them to spend it on whatever their little hearts desired. Over the next week, the subject of spending that money came up several times. Rather than just taking them to a store and letting them go …

Categories: Getting Started

The High Cost of Low-Interest Debt

Lately, I’ve seen many emails from readers asking me whether or not I think a particular debt is “okay” now that interest rates are so low. It’s true – collateralized debt for people with good credit histories has a very low interest rate right now. You can get car loans and home loans for stupendously …

Reader Mailbag: Old Albums

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. Starting with digital video Running for office A “rent or sell” dilemma Buying individual shares Borrowing from 401(k) Cooperative board games Starting a book club Cash or …

Categories: Books and Reading

The Simple Dollar Weekly Roundup: Barefoot Edition

Most of the time, when I’m working at home, I’m barefoot. I don’t like wearing socks, even in the heart of winter. During the summer, this isn’t a problem. If I want to go work outside, I just go outside barefoot. This doesn’t quite work in the winter, of course, so I’ll often literally put …

Categories: Books and Reading

Five Red Flags for Bad Financial Advice

Every once in a while, I’ll find myself in an airport or somewhere else where a personal finance or investment program is on television. I’ll watch it for a bit and usually find myself frustrated because, every time I watch, I see a bunch of red flags that indicate that I should take what’s being …

Reader Mailbag: The Neverending To-Do List

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. 401(k) question Channeling political dreams Elder relative scammed Rampant gambling Remembering things Using Roth for home purchase Data backup Career reboot Food buying conflicts Hamburger or steak? …

Categories: Books and Reading

Five Vital Tactics for Making Self-Employment Work

I’ve been self-employed for almost five years now. Along the way, I’ve learned a lot of things about self-employment. Originally, this article was going to be much longer, but as I found myself writing tip after tip, I discovered that most of them were either simply restating the same thing or they were very narrow, …

Categories: Getting Started

Ten Pieces of Inspiration #111

Each week, I highlight ten things each week that inspired me to greater financial, personal, and professional success. Hopefully, they will inspire you as well. Over the past week, the weather here has been brutal: a small blizzard, a batch of freezing rain, a very rapid thaw, a very hard freeze, frigid wind chills, and …

Categories: Books and Reading

Starting Out with an Insurmountable Debt Load

This morning, we talked about the burden of caring for parents and the “sandwich generation.” This afternoon, let’s look at the burdens of younger people. Yesterday evening, I heard a fascinating story on Marketplace about how millennials are likely to be in debt their entire lives, and take some debts to their grave. There are …

Categories: Getting Started

The Sandwich Generation and You

Recently, I read a fascinating study by the Pew Research Center indicating that somewhere around one in seven adults have simultaneously provided financial assistance to a parent aged 65 and older and to one of their own children of any age in the past year. A quick overview of this study: With an aging population …

Categories: Family, Getting Started