Financial Resource: Beginner Investing to Financial Independence!

A financial education blog to share experiences on 401K, assets, budgeting, cashflow, early retirement, finance, financial freedom, investing, money management and retirement planning using posts, podcasts and video.

Archive for the '401(k)' Category

Wealth and Prosperity through Character Development

May 7th, 2008 by Mind Treasures

Do you think your character has any relationship with your finances?

Are you Purposeful (goals & objectives)? Are you Patient (saving)? Are you Responsible (borrowing)? Are you Moderate (balance & budgeting)? Are you Selfless (retirement)? Are you Reliable (credit)? Are you Courageous (business & investing)? Are you Punctual? (35% of U.S. FICO is based on this character) and the list goes on.

True Wealth & Prosperity can only be achieved by discovering and developing one’s hidden treasures:

“Regard man as a mine rich in gems of inestimable value. Education can, alone, cause it to reveal its treasures, and enable mankind to benefit therefrom.”

Of course development of hidden potentials (virtues) must be complemented with learning and implementing various elements of local economy in daily financial activities.

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Category: 401(k), Bonds, Business, Environment, Financial Markets, Financial Planning, General, Investing, Mortgages, Real Estate, Retirement Planning, Spending, Stocks, Tax, World, financial education | No Comments »

Learning the Ropes of Investing

April 30th, 2008 by The Eager Investor

Call me a true novice… I am ashamed to admit that I have let retirement money sit unattended and unmonitored for far too long!  WELL NO LONGER!  I just read this great book by Phil Town (Rule #1) who makes investing in the stock market seem much more approachable and real for a novice like myself. 

Honestly, I have fears of the stock market.  Investing in real estate and businesses comes pretty easily to me now, but, when I look at those numbers that seem to go up and down so radically, I truly get scared to invest. 

This book, Rule #1, has put my mind to rest.  I am sitting in front of my computer with poster paper tacked up all around me with tips and elements to investing that are helping me move toward competence in the stock market. 

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Category: 401(k), Investing, Stocks | 1 Comment »

Online Stock Broker Comparisons and Reviews

April 28th, 2008 by Wealth Builder

Online Stock TradingAre you looking to open an online stock broker account and overwhelmed with the number of choices out there? Well, thank your lucky stars! Below is a summary of online stock brokers that I put together to help our Financial Resource community.

Most likely many of you already have an online stock brokerage account, but if you are like me, you may have started an account a while back and continued using the same company and account all these years even though we know there are a lot more options and possibly better ones now. For example, I started an Ameritrade account a little over 10 years ago (the company is now called TD Ameritrade after a merger) and I still have the same account. At that time, my priority was to get the lowest stock trade fee (or lowest commissions). I didn’t care too much for stock analysis and company research, as I used other sites like Yahoo Finance to do most of my research. However, over the last 10 years many things have changed and there are a lot more options out there. Maybe I have been missing out on a lot of new features that could save time and money!

The first point I need to make is that there are many online brokers out there. No one solution fits all, and each of us may have a different need, so I will not be recommending a particular broker to work with. My goal is to summarize my research with the most relevant information to share with our Financial Resource community. This summary can serve as a base to work from or help you to decipher which online broker offers what you need. From there, I highly advise you to research their website, their product and offering, and contact and speak with them, if needed, to get a better feel for what you will get when you open a stock trading account.

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Category: 401(k), Bonds, Investing, Stocks | No Comments »

10 Money Saving Tips

March 20th, 2008 by Money Manager

Here are my weekly money savings tips:

1. Maintain a good credit score! It will save you thousands of dollars in the short and long term when you need to borrow money to buy a car or a home. Creditors will give you an interest rate and the loan amount based on your income and credit score.

2. Large sums of money should NEVER be left in a checking account or even a low-interest bank savings account. Rather, put the money into a high interest savings account (like an ING savings), money market fund, or other forms of short term high interest investments with a fixed return.

3. If you have an employer matching 401K plan, maximize your contributions, so that you double your money!

4. Set aside 10% of your paycheck towards some form of long term savings account, like a money market account, mutual fund, retirement plan, or 401K.  As you pay amount increases, your contribution will also increase automatically. 10% will also ensure that you stay ahead of inflation.

5. One of the best investments you can make is to first pay off all your high credit card debts. Credit cards typically carry a high interest rate and by paying off these debts, you get one of the best returns available which also is tax-free.

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Category: 401(k), Financial Markets, Financial Planning, Investing, Real Estate, Retirement Planning, Spending, Stocks | 1 Comment »

The Web’s No. 1 investing columnist according to MSN Money

February 13th, 2008 by Dollar$ & Sense

Have you heard of Jim Jubak? I have been reading recent articles and posts by Jim Jubak, MSN’s money man. He is touted by MSN as “The Web’s No. 1 investing columnist”.  Look at his site on MSN Money, there is a ton of good information, but if you are a novice to finance and financial information, then it could be overwhelming.

Jim Jubak’s articles range from stock investing tips, to recession markets, bear markets, US energy policy, banking crisis, how to profit from rising food prices, how to profit from the weakening dollar, China markets, Japanese markets, and a lot more. His articles are relatively easy to understand, but you must have some knowledge of financial intruments and markets. If you are well versed with financial markets and financial intruments, then you will have no problem and will find lots of value in Jim’s articles. On the other hand, if you are a novice and are somewhat intimidated or find it difficult to grasp the content of Jim’s articles, then here is a suggestion to help you learn more and become your own financial expert: pick an area that interests you, whether its the stock markets, bond markets, 401(K), rising oil prices, China, or one of the other areas that Jim reports on, review the article, and then post your questions and comments on this blog. Of course don’t forget to reference the article title and date. We can review the article and have contributing authors and experts engage in a discussion with you to help you learn and understand. Sounds good?

Knowledge is Power!

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Category: 401(k), Bonds, Financial Markets, Investing, Stocks | 2 Comments »