Saving Money

The money in your 401(k) and IRA accounts doesn’t belong entirely to you – MarketWatch

|

The money in your 401(k) and IRA accounts doesn’t belong entirely to you – MarketWatch

My current approach is 15% of my salary deferred compensation as a traditional IRA plus the federal maximum on a Roth IRA each year. I feel like that's a way to minimize my tax burden both today and tomorrow. I hope eventually to be able to afford land, an off-grid cabin, more guns, four wheelers, and other toys, but at the same time, I don't want to be over burdened by taxes, or find the tax man in the way of future plans.

NPR

|

6 Simple Rules For Saving Money : NPR

All good advice. Saving money these days is so easy with automatic withdrawal and so many low cost index funds and higher interest FDIC insured online only savings accounts.

October 16, 2018 5:14 pm Update

|

I don’t know about you, but I am sure happy that certificate of deposits are producing higher yields these days. πŸ’΅

While 2.5 APY on a FDIC-insured 1 year CD isn’t going to make one rich, it’s a lot better then in years past. And 1-year CDs are good because they only tie up your money for a year — and lack the short-term risk of index funds and other market investments. At 2.5 APY, if you park $50k for one year, you earn $1,265 in a year guaranteed by the federal government. πŸ€”

The yield curve is dropping, and it’s increasingly risky to have too much market exposure for paper you can’t sit on for a decade. πŸ“‰ Sure, you’ll still losing money on certificate of deposits from inflation, but it’s not as bad as only a few years ago. While I am continuing to practice cost-averaging through my normal weekly investments, I am not going to throw wads of extra money into the market.

Tower Windows

the myth of the frugal billionaire

|

Mark Zuckerberg and Warren Buffet: the myth of the frugal billionaire

β€œThe implicit message on those kinds of stories is: β€˜These people are good, therefore it’s okay for them to be so wealthy,’” said Sherman. β€œAnd what I argue in the book is that talking about any of this in that way avoids questions about distribution. Should they have $50 million to begin with, regardless of what they spend it on? That, to me, is a question that never comes up, partly because these representations of rich people as frugal or as spendthrifts is focused on their spending habits, not on what they have.”