Financial Excellence

04 Aug 019 Financial Excellence: Placing a Price Tag on Happiness

  Living In Financial Excellence Living In Financial Excellence Episode 19: Placing a price tag on happiness and other ways to stay broke, Aug 4, 2010. Can money buy happiness? Well maybe, but not true, deep down, content with life happiness. Show notes: - A recent celebrity wedding cost $3 million and that set us off on the difference between normal folks and celebrities. - He who dies with the most toys is still dead.
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28 Jul 018 Financial Excellence: Avoid Buying New & Avoid Buying Used

  Living In Financial Excellence Episode 18: Things to avoid buying new (Part 2) Plus things to avoid buying used, July 28, 2010. There are just some things you are better off buying used, and we covered some of them last week. We finish the discussion today. Most of us make excuses to buy things new instead of used but we poke some holes in those excuses in this episode. Buying used in many cases provides you with like new or near new items at a fraction of the cost of buying new, plus you don't take the hit on depreciation as the item loses value. On the other side of the coin there are things you should never buy used and we discuss them today as well. Some of these are for safety reasons, some for health reasons, and some just don't make sense to spend the money because new is nearly as cheap and are better quality. Show notes: - We did a lot of the research for this show on wise bread, a top-rated personal finance blog. As with everything you need to do your research and don't take everything you read for granted, but there is some good info on their site. - Special thanks to Brad Dassey of affordableradiovoiceover.com who created some professional intro and outro liners for a very low price. He did a super job and we recommend him to anyone who needs some professional recording done.
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27 Jul Money Myths: The Truth About the Cost of Retirement

Myth: My expenses will go down when I retire so I don't need to save as much for retirement. Truth: With inflation, taxes and medical bills, your expenses will go up when you retire so you need to be prepared! Quite a few financial planners out there recommend a future nest egg value that will produce 80% of your current income when you draw a percentage of the dividends and earnings out of the account each month. The assumption is that your expenses will decrease by 20% when you retire and you will need less income to continue with the same standard of living. This means when you reach retirement age, you will have your debts paid off (including your house) and your dependents are gone, with your health remaining good and your taxes decreasing because you're pulling the income out of a tax-deferred retirement account, pension, or social security. Now, if you follow the L.I.F.E. Ladder and start early enough, you indeed should be debt free by retirement age and have fewer expenses in terms of debt. But the sad fact is, not very many of us actually follow those steps and we end up facing retirement with a huge drop in income but no drop in expenses. Actually, 43% of Americans have less than $10,000 saved for retirement. 27% have less than $1,000 saved. This is a problem.
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21 Jul 017 Financial Excellence: Things You Should Avoid Buying New

    Living In Financial Excellence Episode 17: Things to avoid buying new, July 21, 2010. There are just some things you are better off buying used, and we cover them today. Most of us make excuses to buy things new instead of used but we poke some holes in those excuses in this episode. Buying used in many cases provides you with like new or near new items at a fraction of the cost of buying new, plus you don't take the hit on depreciation as the item loses value. Show notes: - Special thanks to Brad Dassey of affordableradiovoiceover.com who created some professional intro and outro liners for a very low price. He did a super job and we recommend him to anyone who needs some professional recording done. - During a seminar at a weekend retreat at Camp LuWiSoMo, Matt was asked about nerds and free spirits in a marriage.
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20 Jul Paying Yourself First: How to Make it Work Part 2

[caption id="attachment_2906" align="alignleft" width="150" caption="Pay yourself first"][/caption] In part one of this two part article I talked about the theoretical part of paying yourself first. Planning our the month's income and expenses to spend every dollar on paper before the month begins, making sure you allocate...

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