Pete the Planner: Encourage grads to start saving for retirement now
New grads will face many challenges, but if they address the retirement challenge from the very beginning, everything else will fall into place.
New grads will face many challenges, but if they address the retirement challenge from the very beginning, everything else will fall into place.
Twenty years ago, you took action on a major hole in your financial plan and then spent the last 20 years making the best of the time you bought yourself.
The trick is to understand whether you’ve put yourself in a position to ignore the financial ramifications of a seemingly fortuitous opportunity.
The way I figured, as long as I didn’t have a storage unit, or even a garage I couldn’t pull my car into, I was doing just fine.
An early commitment to saving is what got the job done here, and now you get to reap the rewards of that decision.
I’m happy that our familiar manifestations of joy are on the horizon, but my crystal ball (my hairless head) tells me 2022 and 2023 could produce the largest consumer debt burdens of all time.
When people don’t take the time to develop an investment strategy—generally because they don’t want to see how far behind they are—they’re more likely to adopt an “anything goes” philosophy.
I believe the ability to change your personal financial philosophy is a wonderful privilege that many people simply ignore, if not deny.
Those very close to you—even well-adjusted adult children raised by you—will struggle to contextualize your balance sheet, which often becomes a detriment to their financial existence.
Context is everything, and there’s no way you’ll ever have enough context to understand another person’s financial life, especially in casual, social settings.
Our year-end household financial meeting has become something we look forward to as late December ticks on.
Not needing a lot of money is a better strategy than having a lot of money.
I feel I’ve already learned a ton from this experience so far, and those lessons have brought me a sense of thankfulness.
@et meaningful financial goals. These goals should bring a great sense of accomplishment, once you achieve them.
The most complicating factor is that we don’t know how much we’ll need because we don’t know when we’ll die.
An unemotional, rational approach to this question will always yield the best results.
Whether or not a constitutional crisis–and all the economic and market chaos it would bring–is nigh, it’s impossible to time our exit and re-entry into the markets,
Many restaurants are in very serious danger of not making it to December. Every dollar you can spend matters.
The pandemic is not over yet, nor is the economic fallout, but I do believe Americans’ financial sensibility could conceivably shift in a healthier direction.
It’s easy to dismiss financial mistakes with the old, “It made sense at the time.” But here’s the thing; a lot of times, those decisions didn’t actually make sense at the time.