I'm reading a story in Fortune about Trader Joe's, which is owned by the same German family that controls Aldi's. They offer the single most generous 401(k) plan package I've ever seen for the average worker! It is remarkable, plus the salaries are what many would consider "good" jobs. According to the story, a store manager, or "captain" at Trader Joe's can make in the low six-figures with full-time crew members possibly starting in the $40,000 to $60,000 range. The best part? On top of the pay, Trader Joe's annually contributes 15.4% of employees' gross income to tax-deferred retirement accounts.
...It's 3 a.m. and I'm up going over projections for the real estate market in my office. One analyst is making a strong case that real estate prices need to fall by at least another 10% for investment properties and primary residences to be "rationally" valued. As a new investor, you might mistakenly believe that this would require houses to drop another 10% (e.g., causing a $300,000 house would sell for $270,000).
...Last month, we found out that in
...... June, credit card balances for Americans fell by $4.5 billion, or 6%, according to the Federal Reserve, marking the 21st consecutive month of declining balances. Meanwhile, personal savings have risen to 6.4% of after-tax incomes, about three times higher than it was in 2007.
It is a sad day for because a legend is leaving the playing field.
Louis Simpson, or simply Lou Simpson as he is often called, the man who has independently managed GEICO's $4 billion equity portfolio and who is the only person Warren Buffett lets invest money within Berkshire Hathaway other than himself, is set to retire according to a story in the Chicago Tribune. I knew he moved back to his native Chicago from Rancho Santa Fe, California after years of living and working there, but I never thought Simpson would retire.
...Even though I have written hundreds of pages on the topic, include the How to Get Rich Guide for new investors, I receive tens of thousands of messages through Investing for Beginners at About.com, my personal site, and my Facebook account each month, asking me how to become financially successful. It may seem pithy or oversimplified but it really is this basic ...
...
When times are tough and you're looking for any financial help you can get, it's only natural to start thinking about some alternative forms of financing. While payday loans and cash advances can really help you in a bind, it's important you really understand what you're getting yourself into. It's quite possible to find yourself digging an even deeper hole while attempting to just get through a few rough weeks. So, before jumping into a payday loan take a few minutes to learn how they work, what they really cost, and what alternatives you may have available.
The first step in personal financial planning is controlling your day-to-day financial affairs so that you can do the things that bring you satisfaction and help you reach your goals. This is achieved by planning and following a budget. Controlling spending, saving money, and investing for the future are all important aspects of financial planning, but those things mean nothing if you don't have specific goals that you're trying to reach. In order to gauge your financial success, you need to have goals so that you can measure your success. The second step in personal financial planning is choosing and following a course toward long-term financial goals.
...Life insurance is an important aspect of almost every financial plan, but how can you make sense of all the different policies available? Everyone seems to have their own opinion, and unfortunately there are also a lot of insurance salesmen who may be more inclined to earn a commission than to put you in the best type of policy. So, it's up to you to understand how each type of policy works so that you can decide what's best for you.
...Credit card debt is one of the biggest problems most people face when trying to get a handle on their finances. Credit cards make it easy to spend more money than you have, and then the crippling interest rates and fees make it seem impossible to get out from under. While there isn't an instant cure for credit card debt, there are steps you can take to put yourself on a path to becoming debt free.
...Have you ever filed your tax return and hoped you could get your hands on your refund early? You're not alone. In fact, this has been a common practice in recent years. Most large tax preparers would offer what's called a tax refund anticipation loan. How it works is they determine how much of a refund you'll be receiving when filing your taxes and then lend you the money immediately so that you don't have to wait a few weeks for the IRS to send you a check. Then when your refund actually does come in it goes towards paying off the loan, less any fees. Sounds good, right?
...Most people save for retirement in their employer-sponsored plan such as a 401(k) or 403(b) plan, but these plans provide up-front tax deductions and tax-deferred growth. While this can be a great feature, the problem is that the money will still be taxed as ordinary income upon withdrawal in retirement. If tax rates are lower, or you're in a lower tax bracket when this happens, that is ideal, but what happens when you find that taxes are higher upon retirement?
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Remember that even though you may not like each other everyday.....it doesn`t mean that you don`t love each other everyday!
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