David Bach Puts it Simply
David Bach's Yahoo Column manages to put things into perspective.
He writes of a conversation with a woman that is trying to save for retirement. She was overwhelmed when faced with the 'need' for large retirement savings. 'It's a marathon, not a sprint'...by starting the habit of saving and building on it, you can establish quite the nest egg for retirement, marriage, or a vacation. The whole point is that you shouldn't take a quick glance at the numbers and give up when faced with a large figure, you should begin chipping away at it as soon as possible. Every dollar you put in today is a dollar that will be working for your future.
I tried to figure out how simplistic my approach towards finance is. It may be a little difficult when shuffling around credit card bills and fiddling with how much to contribute to a 401K plan but once all of the item are set up, you can just sit back and relax. My goal is to save at least $30/day for my 401K plan (currently at ~$20) and $10/day for general savings. (currently at $20 since I'm building my emergency fund) Instead of sacrificing my savings in order to contribute to my 401K, I am contemplating the sale of some of my stock in order to eliminate credit card debt and simply apply the monthly credit card payments towards extra retirement savings, emergency fund building, and some towards having a little fun. The best part is that once the system is set up, I can just make that weekly run to the ATM for my spending cash for the week knowing that my savings/retirement/investment plans are all taking care of themselves; I'll just have to check in on them for a while.
"The secret to life is to stop worrying and start living." -Dale Carnegie
Until next time,
Thor
He writes of a conversation with a woman that is trying to save for retirement. She was overwhelmed when faced with the 'need' for large retirement savings. 'It's a marathon, not a sprint'...by starting the habit of saving and building on it, you can establish quite the nest egg for retirement, marriage, or a vacation. The whole point is that you shouldn't take a quick glance at the numbers and give up when faced with a large figure, you should begin chipping away at it as soon as possible. Every dollar you put in today is a dollar that will be working for your future.
I tried to figure out how simplistic my approach towards finance is. It may be a little difficult when shuffling around credit card bills and fiddling with how much to contribute to a 401K plan but once all of the item are set up, you can just sit back and relax. My goal is to save at least $30/day for my 401K plan (currently at ~$20) and $10/day for general savings. (currently at $20 since I'm building my emergency fund) Instead of sacrificing my savings in order to contribute to my 401K, I am contemplating the sale of some of my stock in order to eliminate credit card debt and simply apply the monthly credit card payments towards extra retirement savings, emergency fund building, and some towards having a little fun. The best part is that once the system is set up, I can just make that weekly run to the ATM for my spending cash for the week knowing that my savings/retirement/investment plans are all taking care of themselves; I'll just have to check in on them for a while.
"The secret to life is to stop worrying and start living." -Dale Carnegie
Until next time,
Thor
posted by Thor @ 7:43 AM
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