Yep, it’s Friday again (Okay Thursday Evening), and here’s the latest 5 for Friday. Five great posts for you to check out.
I received a comment on the last 5 I shared, asking why I chose those 5 and if there was a theme. I hadn’t really thought about saying why I picked the posts, but I will this time.
There’s no theme, other than these hit home. Here you go!
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The Automatic Savings Challenge – Save $1,000 Or More – by Latoya, at Life and a Budget
A bit later in my career than I’d like to admit, my wife and I learned how to automatically put away money. We set up savings accounts and investment accounts, then set up auto-draft/auto-deposit to fund them and left them alone.
That’s one of the main reasons that we were able to retire in our early ’50’s.
Although neither of us is working, other than my Freelance writing and web editing, I’ve found reasons to save, and Latoya’s article hit home. In fact, just an hour ago, I opened a Capital One 360 account and plan to get the $25.00 bonus that Latoya talked about.
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10 Things Holding You Back from Financial Freedom – by Rachel Slifka, writing for Young Adult Money
Definitely a good read. I thought my wife and I hit Financial Independence, as we have enough passive income to pay all of our bills and then some. Rachel points out that not having any debt is part of being Financially Independent. Well, we still have a mortgage and some other debt.
Even though we have plenty of money to pay all the bills, it makes sense to me. I need to pay off our debt and then we can use all the money for our day to day bills and then other stuff.
Check out Rachel’s “10” and see what might be holding you back.
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How To Build A Retirement Paycheck From Your Investments – by Fritz, at The Retirement Manifesto
So, my wife and I have both been retired since we were 54 (we’re 57 now) and we were lucky that I worked in the Texas Public Education system where I was forced to participate in the retirement program.
Of course, it wasn’t going to be enough, so we’ve been putting money into other investments for years. Between the two, we have enough to pay all our bills and have some left over for fun.
Fritz provides great insight on retirement income. It’s definitely a great read.
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That Summer Feeling – retirement planning Q&A with a friend (and lunch) – by Teacher Investor
As I’ve mentioned before, my wife and I are both retired in our ’50’s. We were determined not to have to work any longer than we wanted to.
My Dad never retired, but my wife’s Dad did. My Dad passed the year he was going to quit working and Selena’s Dad passed 25 years after his last day of work.
Teacher Investor has some great info to help folks get headed towards retirement. Everybody deserves to enjoy years of fun after years of work. Folks just need to plan for it.
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If You Can Afford a Vacation, You Can Afford to Invest – by Jason, at Reaching Our Balance
Having been an educator for almost 30 years, as well as just observing people, I’ve seen many a person spend money on things that they don’t need, but not spend money on getting ahead in life.
In Texas, I’ve passed many a run-down house or trailer home, with an obviously new car with expensive wheels and tires.
I’ve also walked into homes where the kids were on free/reduced lunches, but a large flat screen TV sat on the entertainment center, and each family member had the latest Smart Phone.
Jason makes a point. If you can afford luxuries then you can afford to invest. Don’t take my word, check out Jason’s article.
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If you enjoyed these posts, let the authors know, and tell them you heard about them from Money is not Taboo.
Thanks so much! A great collection here . . . and always awesome to connect with a fellow educator!
You bet. Yep. Found some good ones. Even retired, I can’t give up sharing knowledge and plan to do so for a LONG time. All the best in your adventures!