Compound interest. The 8th wonder of the world.
Do you know the power of compound interest in its entirety?
It’s the greatest thing in the world…when it’s working for you.
When it’s working against you, it can be one of the most devastating things in the world. A catastrophe, really.
I’m just going to take a minute or two to show you the amazing power of compound interest. Then I’ll let you decide if you would rather it work for you or against you.
Here it is. Compound interest. The good and the bad…
As a military member myself, I’ll be the first to say that most active duty service members have no idea what they’re doing when it comes to their finances.
It’s true that most people in general don’t have a clue, but it almost seems worse in the military.
That being said, when I do meet someone in the military who shares my love of finances, it’s an automatic friendship.
Enter my friend Eric. A retired Army Lieutenant Colonel and now a financial advisor for First Command.
With 20+ years in the service, Eric knows a thing or two about the military and he also knows about money. That’s a rare combination, which is what makes him so interesting.
Here’s what a retired Colonel taught me about money…
We are always trading our time for something. Everything we do is a trade-off.
If you want to be happy, accomplish your goals and live a fulfilled life, you’ll have to stop focusing on what doesn’t matter and start focusing on what does.
How do you do that? You’ve got to take your time back. Start by spending less time on these 5 things…
After months of research, I’ve finally decided to switch MoneyMiniBlog to a new web hosting company.
I was so excited about this company that I had to share how awesome they’ve been.
Whether you’re looking for a web host, already with a web host or even if you don’t have a website yet, you need to see why this company is the best. This is an important change for MoneyMiniBlog. Not only will this site load faster and be more secure, but you won’t ever have to worry about it being down when you visit.
If you have a site or ever plan to have a site, you can save yourself the research and take advantage of all the work I’ve put in to finding the best web host. Here are all the details…
I’m a walking productivity experiment.
I like to try new things and find new ways to increase my productivity. Then I bring you the results and let you decide whether or not to implement these things in your life.
I’ve been doing three new things that have really been working to make my life more productive and actually, all three of these are saving me money too.
These are kind of random, but brilliant and you won’t find these all over the internet like most tips. Here’s what I’ve been doing…
I remember when I didn’t have control of our family’s money. I remember it well…unfortunately. We were $24,000 in consumer debt. We had no emergency fund, no investments and no savings whatsoever. I had used most of my wife’s savings to buy a new drum set (because that’s what responsible husbands do, right?).
My wife had been through Dave Ramsey’s Financial Peace course and honestly, she knew quite a bit more than I knew about money, especially managing it (well, and everything else related to money). She gave her input, but why would I listen? I was in my early 20s and I already had everything figured out. I didn’t need her input – I knew what I was doing. Yeah…
I’m not going to drown you in the tears of my past wrongdoings, but I am going to tell you why you need to take control, what happens if you don’t (from personal experience) and how to take control right now. Yes, today is the day that you will take control of your finances. Today is the day that you will change the course of your financial life. Sounds cheesy, right? Well sometimes the truth comes with a little cheese sprinkled on top, but seriously, you can change your financial future if you start today. Let’s do this…
What does Sam Walton and Colonel Sanders have in common?
They both started from scratch and turned a small business into a multi-million dollar enterprise.
I’m sure you’re familiar with Sam Walton’s Walmart, which is the world’s largest company in revenue, according to the Fortune Global 500. You’re probably also familiar with Harland Sanders, also known as Colonel Sanders, and his giant fast-food chain, Kentucky Fried Chicken. KFC actually ranks 2nd in sales among fast-food restaurants, only trailing behind McDonalds.
Here we have two companies with thousands of stores and millions in sales. Many would consider them among the ranks of other “evil corporations” that under-pay and simultaneously hurt the economy. You don’t have to go far to find an article about Walmart and how unfairly they treat their employees or about how they’re too big for their own (or anyone else’s) good.
So where is the line drawn? At what point do these small start-ups turn from being “just another business” to being corrupt, evil or too dominant?
You’ve heard how important it is to fund your own retirement.
You’ve heard that Social Security
may not won’t be there for you.
You’ve heard that you need to be investing in some type of IRA, 401k or some other retirement account that must be an acronym and may include numbers. However, you may not realize some things about those retirement accounts.
No worries! I’m here to let you know about six common retirement account misconceptions. So here they are…