retirement

Frugal Like a Billionaire

We like to point out to the boys all the time the people that are rich and famous but yet living frugal lifestyles. Our boys like to put these youtubers to Tik Tok kids up on a pedestal because they drive fancy cars and live in these big houses. They watch videos of these people throwing money away to friends and family like its water. We try to bring up to them what would happen to these people if it is real life if You Tube or Tik Tok would quit paying them.

Another Reason Why to Wait on Social Security

The more questions we ask the more we learn about Social Security to help us with our Retirement Projections. My Dad and myself got talking about what happens when once spouse dies how much the other spouse gets then from Social Security for monthly payments if they are both retired.

February Stock Market Thoughts

If you have been watching the news hopefully you aren’t as mixed up as they seem in office. All this new Government spending they have planned or want to get passed through is going to cost someone. The money doesn’t just fall out of the sky. I try not to watch very much news and we don’t subscribe to the paper.

Retirement Projections that we Do

It is a new year and we have done our Family P & L Actuals from last year. We have also done our 2021 Budget and Goals sheets together. Now is the time to update our Retirement Projection sheets with our Actuals from 2020 to see our new Retirement Projections.

Kids or Retirement

Our folks came from large families. Especially our Dads because they came from farming families and that seemed to be the thing to do. Have a lot of kids and they can help on the farm. Now a days with the high cost of living or the high living lifestyles that so many people have it is hard to have large families. Some people have one or two kids and others choose not to have any kids and have a pet.

Stocks – Hold or Sell

There are a lot of different philosophies on the subject of if you should stay in the market through the up and down times or not. Some of my friends say they get out when it is high and then buy when it is low. They swear they make a ton of money doing it that way. Yet, I don’t have a crystal ball on when the Stock Market is at around the top and not going any higher. I would have felt bad jumping out of the Stock Market when it was even at 20,000 and then waiting for a crash. I would be missing out on all these dividends and growth we have been receiving.

Inflation Factors in your Retirement Projections

Most people that work at a job hopes to get a pay raise each year. Some employees want them more than once a year. Wages is one of the largest expenses they have to run their business.Most people that work at a job hopes to get a pay raise each year. Some employees want them more than once a year. Wages is one of the largest expenses they have to run their business.

Most Important Opinion is Yours

Bottom line with all the news and experts out there the final decision when it comes to our Personal Finances is our own. That is what we teach our boys when we are teaching them our rules to Financial Freedom.