Tag: saving

My neighbor and I were talking this weekend and he asked me this question, "Andy, do you think I have enough life insurance coverage from my employer, given Coronavirus/COVID risks if I have to start going back to work next month? Don't want my kids to be homeless if something…

Here's a question I've used to start more than a few personal finance conversations: would you rather have $1 million right now, or take a single penny — doubled every day for 30 days? Most people pick the million. Almost every time. They're wrong. By day 30, the penny-doubling path…

The average American carries $6,715 in credit card debt, and average credit card APRs are running in the 20-25% range in 2026. At those rates, a $6,700 balance paying only the minimum can take years to clear and cost more in interest than the original purchases. Getting out of debt…

It's not breaking news that you should be saving for retirement. Most employed people understand this fact, so hopefully, you are setting some cash aside for your golden years despite your day to day living expenses. The tricky part of retirement financial planning is figuring out how much you should…

If you're self-employed and not taking full advantage of a SEP IRA or Solo 401(k), you're likely leaving a significant amount of tax-deferred savings on the table every year. I've talked to a lot of freelancers and small business owners over the years who are diligently contributing to a regular…

NOW is always a good time to reassess your financial situation and try and determine how you can improve your personal finances. Based on my experiences and observations, here are five simple and relatively cheap strategies to improve your finances. All it requires is a little discipline and overcoming normal procrastination…

Tis' the holiday season and that means sales everywhere you look. This includes sales and discounts in the ultra-competitive auto insurance industry, where with only a few minutes of online clicking and typing you could literally save hundreds on your next auto insurance policy. During the holiday season auto insurance companies really…

I have two family friends. One lives in the DC Metro Area (Bethesda, MD) and the other lives in Appleton, Wisconsin. Classic Big Town vs. Small Town. I met them over Thanksgiving and we got talking about the cost of living and how it varies so much across America. Both…

The market continued on its rampage reaching an all-time high, surpassing levels last seen before the 2008 financial crisis. This is despite Congress and the Biden administration squabbling about the impacts of additional spending and who would be blamed for a potential economic calamity due to the inefficiency of Washington.…

A set of three couples sit around an oval table, discussing the future of their newborns. A father asks, "Has anyone actually started saving for college yet?" One parent cries, "Ugh not me." Another parent tries to explain, "No, no you got time." But then the "smart" couple confesses and…

A lot of people say "richer" Americans are an eccentric lot. But the fact is that, your co-worker or neighbor down the road is probably more likely to better fit the "well-to-do" or upper class profile than someone like Donald Trump. Based on information from the Census and IRS data,…

Buying auto insurance, whether it’s business auto insurance or private auto insurance, can prove to be one of the most exhaustive processes to go through, and can also prove to be one of the most expensive bills that you have as well. Consumers are constantly looking for ways they can…

Can you open a Roth IRA for your spouse? This question comes up a lot among married couples with just one income. After all, one of the requirements for opening and funding a Roth IRA is earned income, right? And as a general rule, if you don't have taxable earned…