If you start with the assumption that you have no clue what will happen next in the financial markets, the rest is obvious.
TRIM YOUR CHECKING ACCOUNT. If there were a guaranteed way to earn an extra one percentage point a year on your investments, you’d jump at the opportunity. So why would you leave excess cash in your checking account, where it likely isn’t earning interest, when that money could be in a high-yield savings account earning 1% a year or more?
AS I PREPARE TO MOVE FROM PHILLY to Boston this summer, I’ve struggled with how to handle my home. Do I sell the place and pocket the profit—or keep it as a rental property for future income and price appreciation? A quick Google search provides plenty of good reasons to choose either option. But when making a decision of this magnitude, what really matters is your personal situation—and that prompted me to sell. Here are my five reasons:
The financial benefits of renting out the place don’t outweigh the costs.
SHOULD YOU MOVE when you retire? The numbers can be compelling—especially if you’re like my wife and me, and you live in New York City or one of its surrounding suburbs, where living costs are absurdly high. This was hammered home by the cost-of-living calculator cited by Kristine Hayes in her blog yesterday.
I discovered that, by leaving New York, we could cut our living expenses by almost 60% if we moved to Bismarck,
I CELEBRATED MY 50TH BIRTHDAY a few weeks ago. Since then, I’ve found myself spending a lot of time thinking about numbers. Specifically, I’ve been musing about when I might be able to retire from my current fulltime job. Age 55, 58, 62? Or will it need to be later?
Several studies suggest the age at which most people leave the workforce has been steadily rising over the past several decades. This is likely due,
Jonathan Clements is the founder and editor of HumbleDollar. He spent almost two decades at The Wall Street Journal, where he was the personal finance columnist. His latest book: How to Think About Money.