How Much to Retire?

Speaking of becoming a millionaire (or not), the most recent issue of Money magazine had some interesting statistics on how much money people think they’d need to retire today. Based on the results of a national poll: 10% of respondents said $250k-$500k 24% of respondents said $500k-$1M 35% of respondents said $1M-$2M 31% of respondent […]


Doing a Lot with a Little

Millionaires make tons of money. Right? They must. Otherwise, how would they have reached such heights? Well… According to data from Thomas Stanley, co-author of “The Millionaire Next Door” (amongst other things), the typical millionaire’s annual income is just 8.2% of their total wealth. These data are backed up by a Treasury Department analysis that […]


Seven Ways People Make Their Money Troubles Worse

Psychiatrists say that realizing that you have a problem is the first step towards solving it. Maybe, but in my financial experience, what comes after recognizing the problem is more important. After all, there’s no shortage of people who will tell you, loud and clear, when you have financial troubles. Overdue bill notices will come […]


Using Traditional IRA Funds to Pay Off Debt

In response to my recent post about Roth IRA withdrawal penalties, a reader named Aaron asked the following: My wife has $40k in a traditional IRA. It was a rollover from when she used to work. We have about $40k in debt (cars, credit cards, school loans) plus a mortgage. Is there any way to […]


Where Physical and Fiscal Health Converge

As I’ve asserted in this space before, news on the healthcare front has often seemed unrelentingly bad. And it’s been that way a long time. First came the demise of the house call, then the soaring cost of care delivered anywhere but where folks would like it, in the home. Ensuing decades brought more bad […]


Roth IRA Early Withdrawal Penalties, Revisited

A reader named Bill recently asked for clarification on the details surrounding Roth IRA early withdrawal penalties. I’ve talked about this in the past, but with the end of the year looming, I thought it would be good to touch on it again. As with traditional IRAs, the IRS views all of your Roth IRAs […]


Happy Thanksgiving!

To all of our readers in (or from) the United States… Happy Thanksgiving! Wherever you are and whatever you’re doing, I hope you’re having a great (and relaxing) holiday. If you’re on the road, please travel safe. And if you’re heading out for some Black Friday shopping, be sure to get to bed early. 😉 […]


Small Business Saturday 2012

With Thanksgiving just around the corner, it’s time to remind you that this coming Saturday is none other than Small Business Saturday. This is a promotion started back in 2010 by American Express to encourage people to shop at small businesses, and to reward small businesses for accepting American Express credit cards. As in years […]


Inflation and the Price of Your Thanksgiving Dinner

Every year around this time, the American Farm Bureau Federation estimates the cost of a Thanksgiving dinner. Their estimate include enough turkey, stuffing, cranberries, pumpkin pie, and trimmings to feed a family of ten. This year’s estimate comes in at $49.48, or just under $5/person. Compared to last year, than an increase of just $0.28 […]


More Ways for Teens to Make Money

Teenagers like to spend money, but even in the best economy they have a hard time finding work. And teens who are involved in lots of activities have it even harder — you don’t want your son to quit the volleyball team in order to work at McDonalds, do you? Fortunately, there are ways for […]