Popular Posts

Amazon Contextual Product Ads

Thursday, March 5, 2015

Mutual Fund Alphabet

Stock tickers are based on the companies name, however, mutual fund ticker names are based on the name as well as other factors such as how much you are going to pay in fees. Here is the break down of the names:

Ends on:

A - you pay comission
N - no-load (no fees)
F - front end load
B - fund has both front end and back end fees
X - ending for most mutual funds to differentiate the ticker symbol as a symbol for a mutual fund

Fresh MBA Grad

There has been progress in my financial life. I'm graduating from an MBA program in May 2015 with a lucrative job offer to start in July 2015.

I have more than tripled my salary, but I have also more than tripled my debt. So, I need a new set of financial goals as should you anytime you undergo life changing events.

1. Contribute to 401(k) up to the match (6% of base salary)
2. Build emergency fund of 3 months (my job feels secure so this should be enough and this will be possible with part of the signing bonus)
3. Max out Roth IRA (this will also be covered by the signing bonus)
4. Pay down high interest government debt, undergraduate subsidized loans
5. Pay down high interest government and direct debt, graduate plus loans and university loans
6. Pay down low interest private graduate loans
7. Max out my 401(k)
8. Save up for a down payment (for potential 2017 house purchase)

Monday, April 21, 2014

Maximum Amount of Student Loans

The government will only give you a few thousand dollars a year in loans to pay for your school. If you are reading the Money Smart Grad blog, you are likely to be a college grad with student loans. Therefore, you know the damage that they can do. You might have some extra PLUS loans or private loans as well. You might be thinking of going to grad school, which probably means that you will need even more loans on top of what you already have.

To tell how much you should take out in loans, you should look at the salaries of potential careers you can undertake after graduation. For example, I am planning on an MBA and I am researching how much a manager or a director of a firm or a non-profit can make and what I need to land that position. If you would qualify for a listing after graduation, and the position pays $100K and that seems to be the average, you should not take out more than a total of $100K in loans in total. A good rule of thumb is to never take out more loans than you will make the first year out of college or grad school. This means that if you are going to grad school and you expect to make $100K the first year, but you already have $25K in undergraduate loans, you should only take out $75K more for a total of $100K.

Recommendation: Squared Away Blog

I'd like to recommend something that I read regularly - the Squared Away Blog by Boston College. They have a great research center and conduct regular academic studies on topics of retirement. Do check it out!

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.