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Amazon Contextual Product Ads

Thursday, August 16, 2012

Statistic Brain

Interesting Statistic, financially and otherwise. Here is a list to the Retirement Statistics:

Retirement Statistics

Click through the financial tab on top for more fun info.

Wednesday, August 15, 2012

Grad School Calculator

Have always wanted to calculate if the MBA will be worth it even with a 120K price tag and loans. Here you can calculate the return on your graduate school education. Handy calculator for the grad school hopefuls!

LearnVest - Grad School Return Calculator

Tuesday, July 19, 2011

Generic vs. Name Brands

If you want to slash your grocery bill dramatically, you cannot be brand loyal. Almost all stores carry a generic brand or a less expensive brand. You should try buying the store brand and test if the taste is the same as the brand you are used to buying. Some things just aren't.

I don't like sodas, but I sometimes as a mixer or on a random craving, it tastes great. However, even though I can't really taste the difference between Pepsi and Coke or Diet Coke and Coke, I can taste the difference between Coke and store brand cola at most places. I've noticed that Publix makes a good soda and don't mind buying their version of Sprite or Coke. However, you must experiment. If you don't try the other brand of hot dogs or cheese, you might not realize that it is the same or even better.

Monday, July 18, 2011

Know Your Worth

The largest asset you have is you. The greatest obstacle for you moving ahead in your financial life is your salary. If you could earn more, wouldn't it be easier for you to accomplish the things you want financially? The answer should be yes if you are not going to inflate your lifestyle with your salary.

Since you answered yes, it means that you must know when to move on. You have to know when you can no longer progress within your company and you have reached the challenge level or the salary level that you can. It might be hard to make a change sometimes, your company might have a 401(k) that's not fully vested or maybe they promised a bonus. However, remember that if you've reached the limit, seeking another job now will make your future 401(k) vest sooner and you will be able to prove yourself faster to get another bonus at your future company. Therefore, make goals of what you want to make in the future and make sure you are doing what you need to, to attain these goals.

If you thought that a particular stock you are holding would not increase in value in the future, but would only provide a stable low dividend, wouldn't you want to sell the stock and buy something that would give you a regular dividend that's larger and would have the potential to increase in value? Think of your job as a stock and see if it helps to analyze it that way.

Friday, July 15, 2011

Tax-Free Holiday

Seventeen states currently have a weekend or a week where, before school begins, you can purchase clothing, school supplies, and some times other items tax-free. This is a great time to take advantage of clothing shopping for yourself as well whether you are a student or not.

See if you state offers tax-free shopping dates and figure out where they are:

Wiki - Tax Holiday

Thursday, July 14, 2011

Question Their Authority

Always question the authority or legitimacy of anything you see. I love calculators that tell me how much I should save for retirement and calculators that will help me do away with debt. However, keep in mind that certain factors are assumed in most calculators that are not solely based on math.

For example, the ING retirement calculator tells me I will need $1,000 per month if I want to travel internationally. To me, this seems insane. However, I can always find a deal and maybe some people cannot. Who knows, maybe my standards of living will raise this much when I am in retirement. However, I doubt it. There is always a better way to spend money or give money away than five star hotels.

Also, note that ING and other companies want your money in their accounts because this is how they make money. Maybe they are overestimating the total needed for retirement because they want more of your money. There is such a thing as saving too much for retirement. When you are currently not enjoying life because you are socking 40% of your income into retirement, the situation has gone too far.

Therefore, always think about where your financial knowledge comes from and what is the objective of your source.

Wednesday, July 13, 2011

Simple IRA Roll-Over

If you currently have a Simple IRA and no longer work for yourself, you can roll-over your IRA into a traditional one. The rule - you can do it after two years have passed.