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Author Archives: Erik Carter
How Not Eating a Marshmallow is Key to Financial Success
I recently read this interesting Reason magazine interview with New York Times science writer John Tierney, co-author of the new book Willpower: Rediscovering the Greatest Human Strength. The interview starts with an explanation of the famous “marshmallow test” experiment in … Continue reading
Using Your 401(k) in Retirement
We recently received this question on the Ask a Question to a Financial Planner section of our blog: “I have $35k in bank card debt+$30k in retail credit debt. Bank interest range 13/23%, retail 18/29%. I’m 63, and have $40k … Continue reading
Posted in Retirement Planning, The Maverick
Tagged 401k, credit cards, debt, financial planning, financial questions, retirement
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How to Plan for an Extreme Early Retirement
My most popular blog post (and the most popular one on our whole blog) called “How to Be Financially Independent in 5 Years (No Matter What Age You Are)” was about a concept called “Early Retirement Extreme” in which people … Continue reading
Posted in Retirement Planning, The Maverick
Tagged early retirement, health insurance, investing, retirement planning, Roth IRAs, social security
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Are You Paying Too Much On Your Phone Bill?
We often review people’s budgets to help them find savings and one area that I consistently find people spending more than they probably need to is on their phone bill. The average landline bill is probably only about $20 but … Continue reading
Posted in Money Saving Ideas, The Maverick
Tagged cell phones, ooma, phone bills, prepaid cell phones, Virgin Mobile, VOIP
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When it Comes to Financial Advice, Follow the Money
As the election year begins, there’s a lot of concern about money in politics and how it can be used to corrupt politicians and buy votes. But politics isn’t the only profession in which money can be a problem. The … Continue reading
Back to Basics: What Exactly is a Bond?
Last week, we discussed how to invest by buying a stock and becoming an owner of a company. This week, we’ll take a look at becoming a loaner instead. The first experience most people have as a loaner is with … Continue reading
Posted in Basic Investing, The Maverick
Tagged bonds, fixed income, investing, investments, loan, portfolio
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Back to Basics: What Exactly is a Stock?
With the start of a new year, it might be a good time to take a step back. As financial planners and educators, we can get so caught up in the complexities of things like employee benefits, various investment strategies, … Continue reading
Posted in Basic Investing, The Maverick
Tagged buying shares, dividend, investing, investing in the stock market, loaner, shareholders, stocks, ups and downs
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How to Turn Your Investment Lemons Into Lemonade in the Next Two Days
We usually wait until April 15th to worry about taxes, but the time to do something about them is mostly well before that. Some examples include contributing to your employer’s retirement plan and flexible spending accounts. But there is also … Continue reading
Surviving the Holiday Season
Opening gifts may be fun but opening the credit bills next month won’t be. No one wants to start off the New Year deeper in debt, but too often that’s exactly what happens. Here are some ways to survive the … Continue reading
How Risky is Your Income?
In his book “Are You a Stock or a Bond,” finance professor, Moshe Milevsky argues that how we invest should be based on the nature of our job. For example, if you have a safe job with a steady income … Continue reading
