Finding Your Financial Tipping Point

financial tipping point

I’ve recently been reading Malcolm Gladwell’s book, The Tipping Point. It’s a fascinating read that in a nutshell, explains how messages, trends and behaviors “go viral”. How small acts and events build upon each other until they reach a critical mass (the tipping point) where they simply take off and become something much larger than the sum of its parts. In the book he uses examples such as Paul Revere’s ride,  the spread of a fashion trend and how a single person can start a “word of mouth” movement for a restaurant they’re a fan of. As I was reading the book I couldn’t help but think of how the concept of the tipping point relates to our investing habits. We’re all aware it exists, and have probably read hundreds of articles mentioning the power of compound interest which is another example of the tipping point theory in action. The Tipping … Continue reading

The One Asset You Need To Maximize

maximize-time

Most of us are still young, working away long hours at jobs we don’t love, and are told to focus on stocking away as much money as we can for our future. But how often do we really stop to think about what that future holds, and when that future actually takes place? Most of you reading this have a good handle on your personal balance sheet. Your assets: (house, investment accounts, savings accounts), and your liabilities: (mortgage, car loans, credit card bills, utilities). We work and sometimes obsessively focus on these parts of our life, but many of us don’t pay enough attention to the most important asset we have, Time. Investing should be about more than trying to maximize ROI or to push our net worth to new heights. Investing should be about being able to take control of time. Money can’t buy happiness in the form of physical … Continue reading

Why You Shouldn’t Go To Grad School

why grad school is a bad idea

There’s a common scenario that I’ve seen play out in a number of people, including myself: You feel stuck in your career, unable to take that next step. You’re not sure what’s holding you back, and you’re getting frustrated about what you can do to change it. Maybe you’re not even sure about what your next step should be…you take a long, hard look in the mirror and decide – “I should go to grad school.” The feeling that an MBA or other Masters degree will act as the missing link and open previously locked doors seems logical, but you’d be making a huge mistake. Why going back to school isn’t the answer…  A Master’s Degree Isn’t A Magic Bullet True, just about everyone has a Bachelor’s degree these days. But an advanced degree isn’t as special as it once was, and it’s surely no guarantee of you landing a bigger … Continue reading

Two Little Known Ways To Save Money On Amazon

amazon-box

Amazon.com is the world’s largest online retailer, and for good reason. They offer just about any product you can imagine, they’re usually among the lowest prices you’ll find, and they’re super convenient to buy from. Sometimes even a bit too convenient (I’m looking at you: “one-click ordering”). While shopping on Amazon in the first place is usually a great way to save money. There are ways you can save even more money when shopping on Amazon. The Amazon Outlet Store Outlet malls have long been a destination for shoppers seeking deals above and beyond anything found in your typical brick and mortar shopping malls. Well, most people don’t even realize that Amazon has its very own outlet store! The reason most people don’t know the outlet store exists is because Amazon doesn’t exactly put it out there front and center for everyone to see. Instead the Amazon outlet store is … Continue reading

Tricks To Motivate Yourself Financially

mountains

Personal finance is all about creating goals. Whether you have goals to pay off your debt or to save for retirement, it is important to stay motivated to reach those goals. The main reason why most people don’t reach their financial goals is because they lack the motivation. Motivation is the key piece to the puzzle. The question is, how do you stay motivated to reach your goals? Here are some tricks that will keep you on the right path. Create Specific Goals The biggest factor in not reaching a goal is because the goal was too general. Why do you think so many people fail on their new year’s resolutions? They create goals such as lose weight, learn how to save money, make more money, or pay down debt. While these are all good goals, they are entirely too general. How do you attain them? Financial goals are no different … Continue reading

myRA: What You Need To Know About The Newest Retirement Plan

retirement-fund

If you tuned in to President Obama’s ‘State of the Union’ Address last week you heard him mention a new type of retirement account called the ‘myRA’.  While the President didn’t go into many specifics as to what exactly the myRA would be in his speech, The White House has since released more details. The prospect of having a new retirement account at our disposal piqued my interest. So I went digging to see what it was all about, and more importantly, if it’s a good idea to open a myRA. Here’s what you need to know. What is the myRA? We all know that most people have shockingly little stocked away for their retirement, and according to The White House, about half of American workers don’t have access to a 401(k) or similar employer sponsored retirement plan. The myRA aims to be a “starter” retirement account for people who have little … Continue reading