We are less than a month from Logan leaving for the Navy and we have been busy making sure he is ready for his move. First he goes to Navy Bootcamp in Great Lakes, IL and then off to South Carolina for his Schooling. We are getting sad more and more as we get closer to the day we have to drop him off in September.
Even though the Stock Market has good days and bad days over the last month the Dow was up over 700 points and our Net Worth had a good Increase also.
Communication is so important in any relationship. When we have our monthly review meetings with our Spouse or significant other one it can be a stressful time when money is involved. Seems hard for some couples to be able to openly discuss money and finances.
We can’t wait till the news has some positive news. LOL I know I am living a pipe dream. Between Coronavirus, Black Lives Matters riots and Arizona Forest fires there is plenty of negative news to hurt businesses and the stock market.
Over the years I have known many people that spent too much on a home they bought or a place they wanted to rent. Then something happens to them like a job loss or going to a new job where they made less money and now, they couldn’t make their payments anymore.
June was nothing like it was last year for sure. So many negative things going on in our world and it is hard to always tell what is true or fake news.
Last year when the Navy recruiters came over to our house the one recruiter brought up about how he wished his parents would have taught him the things we are teaching our boys. I told him that is why we are teaching our boys these lessons and why I am sharing it with the world with my Podcast, Blog and my book to be released hopefully before 2021.
Maximizing your 401K each year after we are Debt Free is one of the rules and action steps that we teach our boys for them to head towards their Financial Freedom goals. It is Action Step 9 in our 10 action steps to Financial Freedom.
Coronavirus hurt the Business world even more in May even though all the States started reopening in some way or another. I have heard of many small businesses that have had to file bankruptcy and close their doors for good. A lot of dreams and retirement savings lost during the last few months. It is sad.
Some people ask the question if they would be better off investing in their own IRA rather than investing in their companies 401K plan? If your company doesn’t have a matching 401K plan then maybe that is for you. But what I see is that a lot of people lack discipline. What is nice about a company 401K is that it is coming out of their paychecks without any effort from them. They can just get used to seeing what their net check amount is to live on.