A bit of inspired forward thinking by my grandfather sparked my interest in the financial services field and stayed with me into adulthood, even leading to a career. He gave me my first subscription to Kiplinger’s Personal Finance magazine when I was a boy. He also bought mutual funds for my brother and me, figuring
People come to my office expecting to talk about making and saving money. But more and more lately, the conversations we have are about their need to get out of debt. I’m starting to see a trend of retirees, people in their early 60s and even mid-70s, who are in debt up to their eyeballs.
Then: Breighanne and Devon Eggert appeared in our December 2007 issue, when they were recent law-school graduates with $350,000 in student loans. They both landed jobs at Chicago law firms that paid well, and they continued to live like students, devoting more than half of their take-home pay to loan payments. Their plan was to
Quite often, big financial changes (or other life changes) can feel absolutely overwhelming or even impossible. When you have debt that’s bigger than your salary, it can just feel like this mountain that you’ll never overcome. When you read about the retirement savings that you should have in order to be able to retire, it
For the month of September, I emulated a financial plan for retiring early and put 50% of my disposable income into savings. After rent, utilities, and all my other fixed costs for the month, I was left with roughly $140 per week to spend on food and entertainment. While that’s certainly more than enough money to live comfortably
Like many people who suddenly realize how bad their financial situation is, we dove hard into frugality during the first few months of our financial turnaround. It makes sense, really. Frugality is the best personal finance tactic there is for seeing immediate results. If you choose not to spend – or you choose to spend