VIDEO ON MSN MONEY
Be happy with what you have and not what you don't ...
Have a roof over your head ?
Have a little cash in the bank ?
Food in the frig ?
Someone who Loves you ?
Sounds like a good retirement to me.
This is advice for someone who stays single and never has kids. Want to kill an early retirement? Don’t work on your marriage and let your kids dream of a ( useless major) higher education that neither you or they can afford. Here’s 3 ways to Boost Your Odds: Find a financially compatible spouse, start your family as early as possible and educate your kids early on debt and financial responsibility. I know many people who's retirement has been derailed by divorce or struggling adult kids.
Getting rid of cable? Maybe. Unless you like sports or any other live televised event.
Pay off your debt? Excellent advice.
Open a high interest bank account? Those don't exist nowadays. So what if you get 3 times better return from an online bank - we're still talking about 2% here - pretty damn pathetic.
Deposit the extras? No crap, Columbo.
Series I bonds because they are indexed to inflation? Who cares if the costs of food, gas, heating oil, insurance, etc... aren't included in the inflation index. I-bonds might keep up with the official inflation rate, but they won't keep up with cost of living increases.
Invest in stocks? There are many better alternatives.
Remember boys and girls, cash flow is king. Forget about using the alleged value of your assets to measure your wealth. Markets change and values fluctuate. Instead, measure your wealth by the amount of consistent cash flow your assets can generate.
Pay of debt ?........really no kidding ??
Most obvious is to start EARLY, and in my opinion, use a professional planner to guide your investments over many years. Yes, a planner is in it to make money, but unless you yourself are educated sufficiently, self direction could be costly. Another set of eyes on your investment direction can help achieve your goals
But TIME TIME TIME is key. If you start early, time is your biggest friend; if you wait, time is your biggest foe....and beginning early and saving over many many years is your best bet on beating inflation.
Then go have a Starbucks coffee and watch some cable
When will have mandatory financial classes (HS level?).
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Occupy Wall Street bought and forgave the student loan debt of more than 2,700 Everest College students.