Category: Personal Finance and Money

10 or so years later, I thought I would revisit how Americans (and myself) are doing with their retirements savings in 401K and IRA plans. This is particularly important as Americans age and contribution limits keep rising. Based on Fidelity's 2022 report, the average 401(k) balance is $121,700. This is…

Despite the skyrocketing costs of a college education, a bachelor’s degree, at the very minimum, is an essential requirement to get ahead in this world. With few, notable exceptions, gone are the days when you could make a healthy, livable income right out of high school. But for parents, the…

According to a recent report from the Deloitte Center for Financial Services, the total number of US families with a net worth of over $1 million will double by 2020. All this while the unemployment rate hovers around 10% amidst a tight job market undergoing significant structural reform. Overall, the…

Ever been curious about the seeming universality of the desire to purchase goods and services without paying for them immediately? Many credit card users fall victim to this desire for instant gratification knowing full well they can’t actually afford what they bought without going into debt. Deferring payment until tomorrow…

With gold prices rolling past record highs on a regular basis, a number market pundits feel that we are entering a gold bubble.  Like the housing and financial bubbles many have gotten swept away with the lure of easy money, only to coming crashing to earth when the bubble pops.…

In today’s flip-flop economy, just about everyone has an opinion about what you should do with your money. From the din of these many opinions a few financial “gurus” seemed to have emerged. Some have become bona-fide celebrities by advising people on how to escape financial ruin, while making millions…

In light of the financial ups and downs over the last several years, it’s hard to know who to trust today for guidance about investing. Yet, even with all of the uncertainty, as each day passes, you still grow closer and closer to retirement. And with that, you need to…

What does No Preset Spending Limit (NPSL) mean to you?  Many consumers, normally with excellent credit, take this popular credit and charge card feature to mean “no limit.”  They think that NPSL products—such as the charge cards offered by Chase and American Express as well as Visa Signature credit cards…

I have made a number of updates to popular topics on this site and in case you missed them, here is a quick recap with a link to the detailed information. 2011 Tax Rates and Brackets Following Bush-era Tax Cut Extensions With approval of a two-year extension to all the…

With another holiday season upon us, it’s not too soon to start planning your gift buying budget. Since last year, the economy has changed, many well-known retailers are no longer in business, and it’s likely that those who still have jobs may not find a holiday bonus in their company…

After lots of money printing and pandemic relief stimulus payments (free money) by the Government over the last few years, things are starting to look more bleak with high inflation, global conflict and rising energy prices. All these portend to signs of a recession in the not too distant future,…

Saw an interesting graphic in the Economist depicting the approximate amount of taxes (net of offsets) governments around the world collect on $100,000; about the middle class average income level in developed countries. This is compared to the amount of social security (or safety net) the government provides to its…

AMEX Fraud Protection When checking my mail this morning, I saw an email from the American Express Account Security Group notifying me that I had received a suspect charge of $113.40. You can see the email below. The card they were referring to was my back-up American Express Blue Cash…