I just finished reading a report from Young Invincibles describing the financial hardship facing Millennial parents. The economic tsunami of lower income coupled with the higher costs of raising a child and being saddled by student debt is taking a toll on this generation of future leaders. My heart goes out to this group as they attempt […]
The only way to convince someone to do anything is to set a good example. Monkey see, monkey do. Start sharing your financial plan with your kids. Quotes like, “I sure wish I would have started when I was your age,“ set the stage. Ask your millennial questions like: “Have you started investing?” “What can […]
Picking a mutual fund could seem complicated because there are many to choose from, but let’s make things simple. At the 30,000 foot level, funds divide into growth funds that invest in stocks and bond funds that invest corporate and/or government bonds. Over long periods of time, stock funds provide higher rates of return in […]
This age demographic is financially illiterate and many are suffering from student loans and credit card debt. The irony is that starting an investment nest egg has never been easier or cheaper. The financially illiterate suffer from the ceiling of complexity. They don’t know what to do, they don’t know how to invest and are […]
When looking for work one of the most important questions is, “Does the company have a retirement plan?” The surest way to build a retirement nest egg is through monthly deduction from your paycheck. Pre-tax contributions invested in a 401(k) are the best. Many companies offer a matching contribution. This automatic wealth building system has […]
Are you a grasshopper or an ant? Or are you a product of your environment? Grasshoppers raise grasshoppers and ants raise ants. If you were born into a family of spenders it’s pretty hard to become a saver. It’s not part of your DNA. Your mental model is to spend. Investing for retirement is foreign […]
Yes! In the form of the parent or grandparent “401(k).” One of the most overlooked financial opportunity is starting a Roth IRA. The second a child or young adult earns any income it can be contributed into a Roth IRA and compound tax free. Babysitting money, mowing lawns, raking leaves all qualify as earned income. […]
This video will help you get started with investing from Munny Journey and planning for your children’s future.
Brad Dugdale, author of Munny Journey, explains creating financial security in an early YouTube video. Munny Journey is simple way to teach your kids or grandkids about money. At the same time, using tools like mutual funds, Munny Journey will help your children or grandchildren reach financial security, long before retirement.
For just a $1 a day, the oldest living American could have $89 million. Jeralean Tailey is now the oldest living American at 115 years old. If Jeralean invested $1.00 a day from birth, and received an average S&P 500 investment return, that $1 a day would be worth $89,023,066.00! That’s the power of compound […]