Why This Senior Doesn’t Care If He’s Retirement Poor : The Saturday Weekend Review #222

DON’T LET MONEY KEEP YOU LOCKED BEHIND CLOSED DOORS.   Finance has consumed Joe’s (changed name) entire life and now he says that he doesn’t care if he’s retirement poor. Who is Joe? Joe is a guy we met last week at the gym while babysitting his grandson. The gym has become a hub for parents/grandparents/caregivers who have little to no social life. We joke about this just about ever week. All wired up in the corner of the gym there were 6 of us parents chatting about the cost-of-living and how it’s been getting harder and harder. This is where Joe jumped in to say that he’s tired of worrying about money and he doesn’t care if he’s retirement poor or not. “I’ve lived a good life and seen more than I thought I would ever see”, as he calls over to his grandson to get out-of-the-way. Joe is an athletic almost retired man with white hair and a big smile that most people would gravitate towards. Even though he knows he hasn’t saved near enough he says being retirement poor won’t stop him from doing the things he loves especially when it comes with a free price-tag.   […]

Our 2016 Financial Journey Has Come To An End: The Saturday Weekend Review #204

  WRAPPING UP ANOTHER YEAR OF FINANCE AS THE NEXT IS SET TO BEGIN. ARE YOU READY TO TAKE CHARGE?   It’s just about time we say goodbye to 2016 and get ready for the challenges that await us in 2017, and there will be some. With rising food costs, increased utility bills and the ups and downs of interest rates we’re in for another tight year of saving and investing. Every December I get an influx of emails from readers who want to put the year behind them and start anew with a fresh outlook on their finances. This is a great opportunity to set up your 2017 budget especially if you are motivated to do so. My blog budgeting plan for 2017 will include lots of budget talk and possibly a more in-depth look at a new budgeting series to compliment the first I wrote back in 2012. We’ll call it CBB Budgeting Series v.2 only because I’ve learned much more over the years and feel I should share everything I know about budgets. This is the last Saturday Weekend Review post for 2016 and I hope you’ve enjoyed all of the fun we’ve had here on CBB. […]

Investing Returns Pave The Way To Financial Independence

  KNOW WHAT YOU WANT NOW SO YOU CAN PLAN FOR THE FUTURE   Reaching financial independence, the point where your investments cover your lifestyle and then some, is the ultimate goal if you want to retire comfortably. And in a perfect world, you would like that to happen sooner rather than later. I have good news for you today: it is absolutely feasible if you put in the right amount of effort and dedication. Yes, even on a small budget. Take a look at the CBB household for instance. They’re worth over $800,000 and on track to pass the million dollar mark by this time next year. And as a faithful reader, you know Mr.CBB is just your regular guy, who started a bit above minimum wage 8 years ago. He has worked two jobs for years and carefully budgeting every cent to make sure his family is safe financially. Related: 5 Simple Rules We live By To Stay Debt Free There you have two of the three steps to financial independence: earning as much as you can, and spending as little as you can. The third part is where you can actually accelerate the process quite a bit: […]

What would you do with extra income?

MONEY IS NOT ALWAYS EASY TO SPEND   Having extra income isn’t something most people complain about having, quite the opposite. When you do have extra income even if all of your debts are paid you want to do something with the money but it’s not always a cut and dry decision. As you might already know we are now mortgage and debt free as of last month. I had a fan email me to ask me what we plan to do with the extra income that we will now have since all we have are home maintenance and bills to pay. I half expected someone to ask me that especially once I continue to post our budget and net worth updates with our savings account growing. Fan questions always tend to force me to think a bit more about topics I tend to put on the back burner although this is a topic which my wife and I really need to talk more about.   Extra income   Since the fan sent me the question I asked my wife to sit down with me and make a list of all the things she would like to do with the […]

Forcing your financial belief system never works

YOU HAVE TO BELIEVE IN SOMEONE   Someone always has a financial belief system that will change your life and believes that it will not only change their life but yours as well. Eventually you have to believe in someone, even if that someone is yourself. The pushy sellers will stop at nothing to try and change your mind by forcing their financial belief system on you but when it’s your money, it’s your decision. What is the definition of belief anyways? Simple, it’s what you as a person trust to be the true answer, having faith in something or someone or a proper way of doing something. At least that is what it means to me. In order for me to believe in something I have to trust the source. There is always risk no matter what you believe. When no one believes in your financial decisions what do you do? If no one believes in my way of thinking the answer is easy for me because I’ve never been one to follow the opinions of others unless I found them to be beneficial to me. Financial news lurks everywhere, online, on the radio, in print and at your […]

December 2013 Net Worth Update (+1.01%): Yearly outcome on target

NOTHING IS FOR CERTAIN NOT EVEN FINANCES   We weren’t too sure if we were going to be on target to reach our yearly 2013 net worth goals but after running the numbers we were pleasantly surprised that we made it through as planned.   Should you celebrate success if the money is not in the bank? What I mean by that it is should you celebrate when you are merely seeing numbers on paper or on your computer screen not cash in the bank? After all it could change depending on how you have your money invested and/or what it is invested in. Have you met your targets? Sure, go ahead and celebrate you’ve reached a milestone and there is no reason why you shouldn’t be proud of the accomplishments you’ve made over the course of the year. Nothing is for certain but what you do know is that you’ve worked hard to make sure your numbers are on target and continue to meet or exceed the goals you set forth at the beginning of the year. It’s not an easy road to walk but with optimism and perseverance anything is possible. I think when we understand that our […]

An introduction to investing- part two

Strategy Begins With Planning This is the second installment of An Introduction to Investing by Troy, the first of which can be found here. In this second installment, I’m going to be discussing the various investment strategies, and the pros and cons of each. Remember – there is no “right” or “wrong” strategy, only one that works (or doesn’t work) for you. Each investor is different and what works for me might not work for you. How can you determine which strategy fits you best? Test them out one at a time! The long, long-term investor What the long, long-term investor does is rather simply – just keep buying on the dips and hold his/her portfolio of stocks until he’s (or she’s) 60 years old. This is known as buy-and-hold. Every time the market falls, “It’s time to buy more. After all, I’m getting a discount”. Every time the paycheck comes in, set aside some cash to buy more stocks. Pros: The advantage of buy-and-hold does not lie in investment returns. There’s no way you can get 15% a year (on average) just by buying and doing nothing. Rather, the advantage in buy-and-hold lies in the fact that you’re doing nothing that’s difficult. Many […]

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