#15: Life Insurance

December 1 2006
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This is part of a series in which we re-evaluate Money Magazine’s “25 Rules To Grow Rich By”. One “rule” will be re-evaluated each weekday until the series concludes; you can keep tabs on the action at the 25 Rules index. How Much Life Insurance Do I need? Rule #15: You need enough life insurance to replace at least five years of your salary–as much as 10 years if you have several young children or significant debts. Find the Best …

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This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of compound interest? This week, we aim to find out. If you’re thinking of buying this book, the first question you need to ask yourself is …

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The most important lesson about blogging – in fact, the most important lesson about life – is that you’ve never learned all there is to know about a subject. Learning is a lifelong endeavor and every day you wake up committed to learning something new is a day you go to bed having grown as a person. That being said, there are a number of essential guides that any blogger who is considering building a long-term healthy blog should read. …

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Building a Better Blog

December 1 2006

Would you like this entire series in a convenient downloadable PDF? Check it out! The Simple Dollar is running a special series on building a better blog. These posts assume that you’re already blogging, that you have a passion for improving your blog’s long term traffic, and that you’ve gone through many of the ups and downs that come with blogging (big spikes in readers, periods of slow or nonexistent or even negative growth in readership). This series is borne …

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At a certain point in my young adult life, I reached a crossroads of intense poverty. Although I was working and going to school, I literally had no extra money to spare with the engines of tuition, supplies, and rent grinding me down. I lived in a tiny apartment with only running water, a hot plate, and a small number of pans for supplies, and I had reached the point where I was literally looking for money in the streets …

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As I read Make Your Kid A Millionaire this week, I found myself stunned at the huge amounts of money that the book assumes that you will give to your child. I can swallow a 529, but a Roth IRA for your child? Buying a home for them? These concepts seemed like utter fairy tales to me. When I was eighteen, I was basically pointed out the door at home. My parents never paid for a dime of college outside …

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Saving Money For A Rainy Day

November 30 2006

I have a “rainy day” fund that I don’t include in any of my normal financial calculations. It just sits there, quietly accumulating small deposits and interest. In fact, I don’t even look at the account unless I am considering a major purchase or am coming across dire straits. How is this different from an “emergency fund”? An emergency fund exists for the sole purpose of maintaining my family’s way of life in the event of a major disaster. It …

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#14: Paying for College

November 30 2006

This is part of a series in which we re-evaluate Money Magazine’s “25 Rules To Grow Rich By”. One “rule” will be re-evaluated each weekday until the series concludes; you can keep tabs on the action at the 25 Rules index. How Much College Should I pay for? Rule #14: Aim to accumulate enough money to pay for a third of your kids’ college costs. You can borrow the rest or cover it from your income. This rule is utter …

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This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of compound interest? This week, we aim to find out. As your child becomes an adult and leaves the nest, you might be in a financial …

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#13: Emergency Funds

November 30 2006
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This is part of a series in which we re-evaluate Money Magazine’s “25 Rules To Grow Rich By”. One “rule” will be re-evaluated each weekday until the series concludes; you can keep tabs on the action at the 25 Rules index. How Big Should Your Emergency Fund be? Rule #13: Keep three months’ worth of living expenses in a bank savings account or a money-market fund for emergencies. If you have kids or rely on one income, make it six …

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