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Is Suze Orman Right, Can You Be Your Own Financial Planner?

If you watch Suze Orman’s TV programs you will hear her comment that people can be their own financial planner. Before I answer this question, I think I need to clarify what type of financial planner I believe Ms. Orman is referring to. There are several types of financial planners, but for simplicity I will … Read moreIs Suze Orman Right, Can You Be Your Own Financial Planner?

Didn’t Save Enough for Retirement? 10 Ideas to Retire on Less

Didn't Save Enough for Retirement? 10 Ideas to Retire on Less 2

In How Much Money Do You Need to Retire?, I demonstrated a way to estimate how much money you need to save for retirement. When I discussed this with my wife, she asked, “what if we don’t save enough?” After giving it some thought, here are some ideas on how to retire with less money. … Read moreDidn’t Save Enough for Retirement? 10 Ideas to Retire on Less

What’s Wrong with this 401k Asset Allocation?

What's Wrong with this 401k Asset Allocation? 8

Recently I spoke to a friend about his retirement savings, and we ended up looking at his 401k portfolio. Although he isn’t able to contribute the maximum amount each year, he contributes enough to take full advantage of the company match. However, when I looked at his investment asset allocation, I was horrified. This was … Read moreWhat’s Wrong with this 401k Asset Allocation?

Choosing the Right Account for Common Savings Goals

Choosing the Right Account for Common Savings Goals 10

In the previous lesson with my wife, I taught her about various investment vehicles available at our disposal. This time we discussed choosing the right tool for the job; that is, choosing the best investment option available for various savings goals. Photo from morgueFile Common Savings Goals First, we reviewed some of the more common … Read moreChoosing the Right Account for Common Savings Goals

$1 Million by 2017. What’s Your Financial Goal?

$1 Million by 2017. What's Your Financial Goal? 15

Before I started this blog, I did not really have a good financial goal. Actually, my financial goal was similar to 99.9% of other Americans…I wanted to be rich. But what is rich? In¬†Are you wealthy? Here’s a test, I defined wealthy as: “…when income from my assets can cover all my family living expenses … Read more$1 Million by 2017. What’s Your Financial Goal?