Money Saving, Smart Shopping, Investment & Retirement Strategy Posts

Discussion in 'Investment Talk' started by Emily Litella, Jul 4, 2015.

  1. Emily Litella

    Emily Litella Well-Known Member

    I would love it if anyone who has any good ideas or articles on the above topics, can you please share and post separate threads? Even if you think it is something very basic that everyone should know, if you think it relevant or helpful can you please post articles or topics?

    I am especially interested in seeing Money over 50 type of information. Thanks all.
    Last edited: Jul 4, 2015
  2. pegmih

    pegmih Well-Known Member

    Make a list of all your monthly income.

    Then make a list of all your monthly outgo.
    HOA, telephone,internet/cable, electricity, groceries,
    entertainment, newspaper, church, etc., etc, and so forth.
    (sometimes it is necessary to put yearly total divided by 12
    for example: Property tax)

    Hopefully, you will have more income than outgo.

    Then make a list of all your investments:
    Stocks, bonds, saving, cds, annuities, etc.

    Then make a list of all your assets.
    House, car, furniture, etc.

    Add them together to get your net worth.

    It's a fun project and my financial advisor said everyone should do it but most people don't.
  3. Emily Litella

    Emily Litella Well-Known Member

    I have done it. At several different stages. It's only fun if you have a high net worth, lol.
  4. pegmih

    pegmih Well-Known Member

    In "outgo" I should have included mortgage payment & car payment which can be substantial.

    BTW. Seniors should consider "gifting" money to their children. You can "gift" up to $14,000 a year and it is tax free. For more info google "money gifts".
    Last edited: Jul 5, 2015

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