As part of your financial planning for yourself and your family, it is advisable to set up an emergency fund. An emergency fund is cash that is readily available in case the unexpected occurs. Emergencies are typically identified as major health expenses, unemployment, home repairs as a result of an extreme weather event, auto repair or replacement, personal or family problems – anything that is unexpected and not in the family budget. Under most people’s guidelines, a trip to the Caribbean bec...
Read More
savings
What is the Right Amount to Save for Retirement?
There are plenty of calculators out there so I won’t bother with that, but the question to how much you need to save for retirement needs to be in your thought process. Saving for retirement is difficult when it matters most. Many people reading this are in there 20’s, 30’s and 40’s. The earlier you start to save the more you benefit from compounding interest. If you start saving around five thousand dollars a year and put it into an index fund returning about 8% in your early twenties, you wi...
Read More
The Real Green Thumb and The 4 Simple Laws to Growing a Magic Garden of Wealth
It is said America has more millionaires that any other country. If this is true why are so many of us so poor? Why do so many Americans suffer with debt? Why are we as a society so overextended and buried under mortgages we can’t pay and live in homes we can’t afford in the first place? The answers are simple, yet must be explained carefully. Let’s examine rule one.
Rule one: Never try to keep up with the Joneses.
Each day we are exposed to a plethora of images of wealth and possessions. ...
Read More
Spousal IRA
Stay-at-Home Moms Can Have Retirement Benefits With A Spousal IRA
Married couples usually have individual careers of their own before they get married. When they were newly-weds, both of them were enjoying their personal incomes and sharing in the expenses at home, such as groceries, bills, fuel and mortgage loans. However, when the first child comes, some couples must sit down and talk about one of them giving up work to stay with their child and take care of him at home while he is very y...
Read More
How much interest do you earn on one million dollars?
A lot of people end up at my site after searching on the question "How much interest do you earn on one million dollars?"
So, I've decided to give them a proper answer: How much interest do you earn on a million dollars? The answer is, of course, it depends.
It depends on several factors including: What is the interest rate? Over what period of time? How often is the interest calculated and paid during the period?
What is the interest rate?
Obviously the higher the interest rate, the better. ...
Read More