Every week I find a few great articles I feel are especially valuable. Following are this week’s best. I hope you find them as useful as I did.
This week’s favorites include it’s up to you to make retirement great, a realistic look at the stock market crash, can you actually afford private school, 13 no nonsense tips to become wealthy, and managing the effect of inflation on your retirement.
When I retired I had a long list of great things I planned to do with my time. It turns out it takes a lot of work to set up those great things, and if I didn’t do it, it wouldn’t happen. The Physician on FIRE shares a guest post from Leisure Freak discussing the need to take action on your retirement dreams in The Boring Early Retirement Truth: It’s What You Make It. It takes effort to live the life of leisure and enjoy it.
When the stock market drops, doom and gloom start to appear in conversations. But is that realistic? People tend to look at the drop from last month without taking into consideration the entire life of their investments. Mr. Money Mustache shares his view on market drops and why we should think about stocks as being on sale instead of losing value with Finally, A Stock Market Crash. When you take in the big picture, a stock downturn really isn’t a big deal.
Many people who go through my Total Financial Makeover Program have kids in private school. When we look at their budget, we discover the reasons they don’t have enough money to live on and need my help to get their finances on track. Private school is often one of the big reasons their money runs out before the month ends. Private school is one line item in their budget that they can’t afford but insist on keeping. What happens then? How Much is that in Tacos puts this issue in prospective with Is Private School Worth Your Retirement? Private school is a luxury item and should only be purchased when you have the extra money it requires. If you have the money, you can spend it any way you like, including private schools, expensive cars and vacations. But when you don’t have the money to meet ALL your needs, including saving for retirement, then luxuries must be cut.
Given the choice between being wealthy and living in poverty, almost everyone would pick wealthy. If that is true, why don’t more people do the things it takes to become wealthy? Or at least do enough to be comfortable. Method to Your Money helps us out with How to Get Rich With 13 No Nonsense Tips. It is really very simple, but few have the follow through to complete the journey.
Retirees have many concerns during retirement; one of them is inflation. The Street shares with us how to Manage the Effect of Inflation on Retirement. For those who are currently retired, which of these options are you using in this period of high inflation?
I hope you enjoy these articles as much as I did. I look forward to updating you again next week with a few more articles I find especially interesting. If you read an especially good article, send me the link so I can share it with others.