Comments on: What Holds You Back? http://blog.wesabe.com/2006/10/17/what-hold-you-back/ The Wesabe blog Thu, 14 Jan 2010 18:37:20 +0000 http://wordpress.com/ hourly 1 By: StephenG http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3697 StephenG Wed, 02 May 2007 20:51:33 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3697 Hey, Really nice site you got here. I'll come back more often and check it out. Peace! Hey,
Really nice site you got here.
I’ll come back more often and check it out.
Peace!

]]> By: RaymonWazerri http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3696 RaymonWazerri Fri, 20 Apr 2007 21:14:02 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3696 Hey, I love what you'e doing! Don't ever change and best of luck. Raymon W. Hey,
I love what you’e doing!
Don’t ever change and best of luck.

Raymon W.

]]> By: morganusvitus http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3695 morganusvitus Thu, 05 Apr 2007 12:15:25 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3695 The site looks great ! Thanks for all your help ( past, present and future !) The site looks great ! Thanks for all your help ( past, present and future !)

]]> By: Howard Marks http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3694 Howard Marks Fri, 09 Mar 2007 18:53:42 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3694 Cool thanks for posting - Scott Adams is clearly a man of many skills! For anyone in the UK who has not written their will yet I highly recommend Sure Will, who wrote let you <a href="http://www.surewill.co.uk" rel="nofollow">write your will online</a>. It was a bargain at £49 and I was actually able to talk to a human being on the phone, something we don't often get in this day and age! H Cool thanks for posting – Scott Adams is clearly a man of many skills!

For anyone in the UK who has not written their will yet I highly recommend Sure Will, who wrote let you write your will online. It was a bargain at £49 and I was actually able to talk to a human being on the phone, something we don’t often get in this day and age!

H

]]> By: Daniel http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3693 Daniel Fri, 05 Jan 2007 18:36:55 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3693 I think there are a few more things to add, people seem to be too focused on 401k/IRA accounts as the source to cure everything retirement related. As with stocks, the biggest games in the long run are made by avoiding the big losses in between: - Protect your income potential (get short-term/long-term disability insurance) - Make sure you have decent health care coverage - Get an umbrella insurance (personal liability coverage) - The little things add up (get no-load funds and compare the expense ratios in your portfolio, and diversify(!), compare at www.morningstar.com, www.smartmoney.com, www.kiplinger.com, etc.) and get checking/savings/creditcards with good rates (check fool.com or bankrate.com). - When you save money (such as by switching your car insurance), really save it and don't spend it somewhere else And for the non-monetary side: - protect your income ability by continuing education - stay healthy/treat your body and mind as an investment too (eat well, do sports, eat vitamins, get proper treatment when needed) - take your yearly vacation and recharge/reward yourself - travel, expand your mind, spend time with friends and family - keep your mind fresh by doing/learning things you have not done before While those four might costs some money initially, they will save you thousands over the remaining time of your life!!! That should be part of your retirement planning as well! I think there are a few more things to add, people seem to be too focused on 401k/IRA accounts as the source to cure everything retirement related. As with stocks, the biggest games in the long run are made by avoiding the big losses in between:
- Protect your income potential (get short-term/long-term disability insurance)
- Make sure you have decent health care coverage
- Get an umbrella insurance (personal liability coverage)
- The little things add up (get no-load funds and compare the expense ratios in your portfolio, and diversify(!), compare at http://www.morningstar.com, http://www.smartmoney.com, http://www.kiplinger.com, etc.) and get checking/savings/creditcards with good rates (check fool.com or bankrate.com).
- When you save money (such as by switching your car insurance), really save it and don’t spend it somewhere else
And for the non-monetary side:
- protect your income ability by continuing education
- stay healthy/treat your body and mind as an investment too (eat well, do sports, eat vitamins, get proper treatment when needed)
- take your yearly vacation and recharge/reward yourself
- travel, expand your mind, spend time with friends and family
- keep your mind fresh by doing/learning things you have not done before
While those four might costs some money initially, they will save you thousands over the remaining time of your life!!! That should be part of your retirement planning as well!

]]> By: Matilda http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3692 Matilda Fri, 05 Jan 2007 15:53:57 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3692 Guess that's a "mind" building strategy someone is searching!!!!!! Guess that’s a “mind” building strategy someone is searching!!!!!!

]]> By: anonymous http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3691 anonymous Thu, 04 Jan 2007 19:37:41 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3691 what would be better is a money building strategy like: How to maintain sanity while working 2 plus jobs? or How to maintain mental toughness to work overtime to get out of a rut becuase you have been stuck in the same job for 3 years with no promotions!!! what would be better is a money building strategy like: How to maintain sanity while working 2 plus jobs? or How to maintain mental toughness to work overtime to get out of a rut becuase you have been stuck in the same job for 3 years with no promotions!!!

]]> By: man at work http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3690 man at work Sat, 09 Dec 2006 08:42:19 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3690 <strong>easy make money...</strong> Good reading! Makes my boring days at work work more pleasurable.. well.. I'm always bleating about something. Have a nice day!... easy make money…

Good reading! Makes my boring days at work work more pleasurable.. well.. I’m always bleating about something. Have a nice day!…

]]> By: Gabe http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3689 Gabe Fri, 17 Nov 2006 05:38:14 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3689 I am surprised that so many are flat out wrong when it comes to saving. Simple Formula - Assuming you are Credit Card debt free - if not, then dump all your money into paying them off. It will save you a ton of money in the long run) 1.) Put just enough in 401(k) to get Employer Match (Where else will you get a 100% return on your investment?) 2.) Put the rest in Roth until you max it out (It will be tax free in the future. Have you ever known taxes to go down? No, so the safe bet is to lock up as much money as you can in a tax free vehicle) 3.) Only after Roth is maxed out should you start putting money in 401(k). I am surprised that so many are flat out wrong when it comes to saving.

Simple Formula – Assuming you are Credit Card debt free – if not, then dump all your money into paying them off. It will save you a ton of money in the long run)

1.) Put just enough in 401(k) to get Employer Match (Where else will you get a 100% return on your investment?)

2.) Put the rest in Roth until you max it out (It will be tax free in the future. Have you ever known taxes to go down? No, so the safe bet is to lock up as much money as you can in a tax free vehicle)

3.) Only after Roth is maxed out should you start putting money in 401(k).

]]> By: Silver Sage http://blog.wesabe.com/2006/10/17/what-hold-you-back/#comment-3688 Silver Sage Sun, 12 Nov 2006 00:38:08 +0000 http://www.wesabe.com/blog/index.php/2006/10/17/what-hold-you-back/#comment-3688 The best advice anyone has given came from Ron Merrit: SPEND LESS THAN YOU EARN Making more than you spend is my definition of "wealth". Having said that, let me respond to the dangerous Dilbert list: 1. Make a will. And all the other "death documents". That is, if you care about the people you leave behind. The best software deal I've found is at www.nolo.com. When you are done, spend 1/2 hour in legal fees and have it reviewed by an attorney. 2. Pay off your credit cards. Monthly. If always pay them off montly, use cards that give you rebates or air miles. If you don't always pay them off monthly, don't use them anymore. 3. Get term life insurance if you have a family to support. Yes, get term life if you don't care if the policy is in force when you actually die. Universal life, on the other hand, can be kept your whole life and actually has a negative net cost, usually by the 20th year. 4. Fund your 401(k) to the maximum. This depends on so many factors that you should see a financial planner first. For example, it depends how the account is invested, whether you get matching, how much, whether you can control allocation in the account, your current tax bracket. etc. 5. Fund your IRA to the maximum. This also depends. Should you do a Roth or Traditional? Online calculators abound for figuring this out. 6. Buy a house if you want to live in a house and can afford it. Or condo or townhouse. 7. Put six months expenses in a money market account. Far better is an online bank, some of which have checking accounts paying more than moneymarket accounts. See bankrate.com 8. Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement. No. No. No. The mix depends on your age, your income, your retirement goals, your current assets, your risk tolerance, your time horizon, etc. Take a look at www.assetallocation.org 9. If any of this confuses you, or you have something special going on (retirement, college planning, a tax issue), hire a fee-based financial planner, not one who charges a percentage of your portfolio. Or both. An hourly fee-based planner may be the best bet for getting started. And if the adviser has a good track record and a low % fee, that might be worth it too. The best advice anyone has given came from Ron Merrit:
SPEND LESS THAN YOU EARN

Making more than you spend is my definition of “wealth”. Having said that, let me respond to the dangerous Dilbert list:
1. Make a will.
And all the other “death documents”. That is, if you care about the people you leave behind. The best software deal I’ve found is at http://www.nolo.com. When you are done, spend 1/2 hour in legal fees and have it reviewed by an attorney.
2. Pay off your credit cards.
Monthly. If always pay them off montly, use cards that give you rebates or air miles. If you don’t always pay them off monthly, don’t use them anymore.
3. Get term life insurance if you have a family to support.
Yes, get term life if you don’t care if the policy is in force when you actually die. Universal life, on the other hand, can be kept your whole life and actually has a negative net cost, usually by the 20th year.
4. Fund your 401(k) to the maximum.
This depends on so many factors that you should see a financial planner first. For example, it depends how the account is invested, whether you get matching, how much, whether you can control allocation in the account, your current tax bracket. etc.
5. Fund your IRA to the maximum.
This also depends. Should you do a Roth or Traditional? Online calculators abound for figuring this out.
6. Buy a house if you want to live in a house and can afford it.
Or condo or townhouse.
7. Put six months expenses in a money market account.
Far better is an online bank, some of which have checking accounts paying more than moneymarket accounts. See bankrate.com
8. Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement.
No. No. No. The mix depends on your age, your income, your retirement goals, your current assets, your risk tolerance, your time horizon, etc. Take a look at http://www.assetallocation.org
9. If any of this confuses you, or you have something special going on (retirement, college planning, a tax issue), hire a fee-based financial planner, not one who charges a percentage of your portfolio.
Or both. An hourly fee-based planner may be the best bet for getting started. And if the adviser has a good track record and a low % fee, that might be worth it too.

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