Posts Tagged ‘investing’

Don’t Procrastinate!

February 25, 2009

In personal finance, procrastinating is almost always bad. Starting to save late will always cost you, but sometimes there’s even a fee for procrastinating. Take saving for college – at The Frugal Duchess, the author outlines the fees that she now has to pay. A parent who registered when the child was a newborn would pay about $82 a month. A parent who started when the child was 16? $600 a month. More than just a slight difference.

Then, check out this article at Getrichslowly. “Early Bird Bob” started when he was 20 and ended when he was 40, investing $5000 a year (total $100,000). When he retired at 67, with a 10.95% return, he had $5,938,625. “Late bloomer Bill” invested $20,000 a year for 28 years (total $560,000), and finished at 67 with $3,168,398.  Bob contributed less, but ended up with more. I highly recommend that article (this was actually the article that started my personal finance interest) – it’s interesting (to me, at least), and very informative. And it really gets the point across.

My point? Don’t procrastinate! You’ll only hurt yourself.

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Links for the Weekend

February 20, 2009
  • Find out how Obama’s housing plan will affect you here.
  • Figure out what the economic stimulus will do here.
  • Prioritize your savings goals here.
  • Save money on cable here (I actually could not live without my cable, but if you can, more power to you).
  • Some personal finance tools online are listed here. Useful stuff 🙂

Sorry about the sporadic updates guys! Junior year has been craaazy. Have a great weekend!

Average is NOT Normal

February 13, 2009

Quick post – there’s a great quest post up on both iwillteachyoutoberich and getrich slowly. They’re companion pieces, so read them together here and here.

The author, Carl Richards, has a blog at http://www.behaviorgap.com/ – check it out if you’re interested.