I asked Mark to write about hiring financial planners/advisors because occasionally you guys email me wanting to know if you should hire one and---if so---how to go about it. (Figured it was better to ask an actual financial advisor than try to … [Read more...]
61/2 Steps to Financial Stability
December 30, 2010 by
How do you go from being flat broke to achieving -- if not wealth -- a state of financial comfort, freedom, and security? One step at a time. But: Do you know what your next step should be? I estimate that about 80 percent of questions I get … [Read more...]
How Do You Hope to Improve Your Finances Next Year?
December 22, 2010 by
Ok, it's question time: What’s your top financial priority next year? Your other goals? Your---dare I say---financial resolutions? Please share your goals in a comment. … [Read more...]
What to Do With A Windfall
January 8, 2010 by
Say you inherit, win, or earn $3,000, $30,000, or even $300,000. Lucky you. What should you do with a windfall of money? You may be inclined to spend it; to buy a new ride or take the trip you've been longing for. The urge to splurge is normal; … [Read more...]
Four Simple but Costly Money Mistakes
December 14, 2009 by
Whether you've been on your own for a few days or a few years, try to avoid these common money mistakes young people make. Already made them? Don’t be hard on yourself; chances are you just didn't know better (a big part of money smarts comes from … [Read more...]
How to Create a Five-Year Financial Plan
July 6, 2009 by
Where do you want to be in five years? Debt free? Living in your own home? Enjoying a “mini-retirement” volunteering or traveling around the world? I’ve written a lot about making spending plans (i.e., monthly budgets) and debt reduction plans, … [Read more...]
How Much Money Should You Have Saved by 30?
June 1, 2009 by
One of the most common questions I get from readers (and curious acquaintances) is how much money should I have saved by 30? (Or by 25, 22, etc.) Of course, it's always seemed to me to be a silly question, because everybody has totally unique … [Read more...]
How Much Should Be in Your 401(k) at 30?
September 21, 2006 by
What should your contribute to your 401(k)? How much should you have invested for retirement at 30, 40, 50, etc? These are good questions. Here, I try to answer them, but I should warn you: Personal finance is PERSONAL! The more you can … [Read more...]
Consumption Smoothing: Friend Later, Foe Now
April 17, 2006 by
An article from Sunday's Boston Globe (story) got me thinking about the principle of consumption smoothing for the first time since I took Econ 101 about seven years ago. If I remember correctly, it basically states that after reaching a certain age … [Read more...]
