Pinball machines.    It’s a long-standing joke in my family that the only thing I ever wanted that my parents never got me was a pinball machine.  And I mean, I really wanted one.  This wasn’t some flash in the pan idea that kids have where they want something one day and then completely forget about it the next.  I […]

What is Financial Literacy Month? Financial Literacy Month was established in 2000 as a way to spread awareness about the importance of personal finance.  The month helps highlight the need to instill strong financial habits, especially for youths. When is Financial Literacy Month Celebrated?  April is recognized as National Financial Literacy Month in the United […]

Financial Literacy Month  April is officially Financial Literacy Month.  I thought it would be the perfect time to raise a bit awareness about the major gap in financial literacy education in American schools.  In my opinion, the lack of financial education today’s kids get, is the major reason you see higher credit card usage and consumer debt.  Currently, only 20 states require students to take economics.  What’s worse […]

Do you know how much you’re paying in investment fees each year? If you’re like most people, chances are you don’t.  And not paying attention to those fees is taking years off of your retirement. Expense Ratio Most mutual funds and exchange-traded funds (ETFs) charge an annual fee as a percentage of assets.  This means […]

How are 401K contributions taxed? This is a question I regularly receive about the tax implications of saving for retirement.  Most people understand that contributions to a retirement account have tax advantages, but they often don’t understand what that really means. 401K vs. Roth 401K The main driver of how your contributions and withdraws are […]

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What has $34,000 in annual income, $40,000 in annual expenses and $148,000 in debt? I’ll give you some time to think about it.   Maybe you said the average American household.  Maybe you got more specific and said the average Millennial.  Those both would be wrong.    According to the Congressional Budget Office, the correct answer is […]

Throughout your working life, you’re always trying to reduce your tax burden.  Why should retirement be any different?  By making one key decision, you can eliminate your tax liability in retirement.  The key is opening a tax-free retirement account. Tax Free Roth Accounts There are two types of accounts that allow you to eliminate taxes […]

Good things come to those who wait  In recent years, we’ve seemed to have forgotten this simple, yet powerful phrase.  With the rise of social media and smartphones more information than we can imagine may seem great, it also has its downsides. Now we are addicted to our smartphones and allow social media to impact […]

Today’s Guest Post comes from Richard Sawyer.  Richard is a mild-mannered software developer by day, and saves household finances whenever possible. He can be found at SawyerPF.com, and occasionally on Facebook @SawyerPF. He also volunteers as a youth coach and Treasurer with a local non-profit, and enjoys the outdoors in his spare time. How do […]