Archive for the Retirement

I Sold All of my Company Stock

I logged in to check my 401k performance the other day and realized that about 35% of my 401k portfolio was in company stock.  I personally don’t allocate my contributions to company stock, so it was all from the company match.  While I am thankful for the 401k match, I also don’t like having that much of my 401k tied up in company stock.  I don’t know much about investing, but I do know that it’s not good to have your eggs in one basket, especially in your company stock. I am reminded of a couple years ago when the bank I work for was not doing so well.  At one point our stock was $45 a share.  Before we were bought out, our stock was down around $2.  Many people, including the branch manager and licensed investment adviser, had their entire 401k in company stock.  To say they lost money would be an understatement.  Unfortunately, I know this happened to many others as well, and not just those who worked at the bank. I sold all the stock and […]

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Let’s Talk About Stocks, Baby

photo credit: Ponzi_Unit This post is from wifeish, who believes “More money = better wine.” Check out her blog at Wifeish Money. Let’s talk about the stock market. Don’t worry! I have GOOD news! First bit of good news? Investing in the stock market can be very simple. In fact, for the average Jane or Joe there are only a few types of funds your money should be parked in. Where to start? If your company offers a 401k contribution program sign up! You can choose an amount to be deducted from every paycheck which is then placed into an investment fund. How much to put in? If your employer offers a match, put in the minimum amount to get that free money. My company matches my contributions up to four percent. Since we are trying to build up our emergency cash fund, we only contribute that four percent. Once we have a big fat piggy bank full of emergency money we will probably up that amount. Did I mention that your 401k money is taken out before taxes? Bonus! […]

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Know Yourself to Make the Most of Your Finances

This is a guest post from Evan, who writes over at My Journey to Millions. Be sure to pop over to his site and subscribe to his feed! The Temple of Apollo at Delphi has a phrase carved into it.  Its translation? Know Thyself.  The Greeks knew it over 2,000 years ago!  While I don’t think there is one way to achieve financial independence and wealth (regardless of what those terms mean to you), I do believe there is one common denominator of those that actually meet their goals.  It is all about knowing yourself and either protecting yourself from…yourself, or, alternatively, encouraging those good qualities you may have. The world is what it is, and there are very few people that will be able to change the world, so most people have to adapt. How does this Apply to Personal Finance? For example there are 2 camps when it comes to using cash only vs. using cards.  I know I can’t carry cash on me, if there is cash on me it is gone, and I am not one […]

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Retirement Plan Changes

Ever since the bank I work for was bought out by another bank, there have been changes occurring. I knew that there would be, as change is inevitable. Some of the changes have been small, and some have been huge. I’ve taken it all in stride, and rolled with the punches. There’s not much more I can do besides that. This morning we had a meeting on some of the changes to our benefits plan.  The first thing we went over was health insurance plans.  The old bank offered a high deductible health plan, and now the new bank is going to follow suit.  We’ll still have other options like PPOs and HMOs, so I’m not freaking out about that too much.  I can pick health insurance pretty easily now. The next topic we touched on was retirement accounts and pension plans.  As it is currently, my company matches $1.15 per every dollar I put into my 401k, up to 6%.  I also have a pension plan I was grandfathered into that they put money into each month.  Very nice!  […]

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I Stopped Saving for Retirement

Before you freak out, it’s not me that stopped saving for retirement. Sheesh! I’m not that crazy. But my friend is. The other day we went to lunch, got started talking about retirement and how she’s not saving anything.  She’s my age (25) so I was pretty curious.  Our conversation went a little bit like this: Mrs. Money: “I am glad I am saving for retirement because my company matches up to 6%.  I feel that’s pretty good for me right now.” Crazy Friend: “I’m not saving at all, and I don’t ever plan on it.” MM: “You don’t ever want to retire?!? Are you crazy?” CF: “Nah, I just think there are too many variables.  You know, the world will probably have ended by that time anyway, so what’s the point of saving if you aren’t even going to be around to enjoy it?” MM: {blank stare}… “Are you kidding?” CF: “No, I really think that.  With global warming and everything, our planet will probably explode or we’ll all be drowned or something. I’m living life now!” While we’re […]

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Why am I Worried about Retirement at 25?

I am worried about retirement. Truth be told, I am only 25 years old, and I’ve got a long way to go.  The fact of the matter is: with the way things are going now and watching people go back to work after being retired and watching others postpone their retirement, I don’t want to be one of them.  I want to be old and gray and enjoying life on the road or comfortably at home, just like this little old lady in the picture at the top of this post.  I don’t want to be 70 and still working or looking for a new job. I checked my 410k today and it has lost 40% so far. There isn’t a thing I can do about it. I hate that.  I guess I’m just not a good investor.  I realize I’ve got at least 30 years to make it up, but I hate logging in and seeing that I’ve lost that much.  I don’t think I’m going to look at it until November 15th, when I’ll sell the company stock […]

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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