The mortgage payment is the biggest fixed cost that many families have, and getting rid of it frees up a lot of funds. It is also a large source of tax deductions. Interest rates are almost comically low right now. Should you pay off your mortgage or keep it? Here are a few questions to help you… [Read More]
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Category: Financial Advice
Some notes on target-date funds
Target-date funds have become a popular way to save for retirement because they are such a simple idea that they qualify as a default investment for employer retirement plans such as 401(k)s. They have advantages, but they also have risk. The big risk is that your risk and return profile is not the same as… [Read More]
Money and happiness
One of the reasons that I like saving money is that there are things I really want that are not cheap, like travel. I’d rather spend less at the grocery store every week so that I have more money for vacation. Saving up for things is terribly old-fashioned. Yet, like many old-fashioned things, it’s good… [Read More]
Save for a dream vacation
Many people save money for a dream project, such as a fabulous vacation. My family loves to travel, and it’s something we work into our budget. It helps that we don’t care too much where we go, as there are interesting things to see and great people to meet everywhere in the world. If one… [Read More]
The basics of Individual Retirement Accounts
An IRA is a great way to save money for retirement. The U.S. tax code offers a lot of advantages for saving through an Individual Retirement Account, sometimes called an Individual Retirement Arrangement, but most commonly known as an IRA. The bad news is that in trying to cover so many bases, the rules quickly… [Read More]
