One of the biggest points that I like to highlight in money conversations is emphasizing the difference between wealth and income. Wealth is defined as your net worth; the total value of all your assets, minus your liabilities. Income is defined as your salary; the money you receive in exchange for your time/goods/services. Unless you’re…… Continue reading Wealth is greater than income
How much money should you have saved up for retirement? A guide for your 20s.
I recently stumbled across this very interesting graphic that shows, in one image, how long it will take you to retire. It’s so simple. If you want to retire early, you have two basic options: spend less, or earn more. That’s fine enough, but what does it really mean to retire early? When I tell…… Continue reading What does it mean to retire early?
A friend of mine is about to start a new job with a company that offers no company retirement plan. This is a tough situation to be in, mostly because it means that saving for your retirement is now in your hands. Most companies make it easy – you set your contribution amount, and you…… Continue reading What to do if your company doesn’t offer a retirement plan