Save Money Archives - TightFist Finance
High cost of living (HCOL) vs. Low cost of living (LCOL): Pros and Cons
Money, Money Tips, Save Money / By Tight Fist Finance
What’s the difference between high cost of living areas versus low cost of living? High cost of living areas (HCOL) are considered more expensive to live in than low cost of living (LCOL). Homes, gas, food, and other daily expenses are more expensive. Typically, salaries are higher in HCOL areas, but your purchasing power tends …
High cost of living (HCOL) vs. Low cost of living (LCOL): Pros and Cons Read More »
Is saving $500 a month good and enough for retirement?
Money, Save Money / By Tight Fist Finance
Is saving $500 a month good and enough for retirement? Investing $500 a month is a good amount to save for retirement if you are investing for 30 or more years. $500 per month invested over 30 years yields $1.7 million at 8% interest, which is a $68k salary at 4% withdrawal rate. Keep in …
Is saving $500 a month good and enough for retirement? Read More »
Retirement planning near me (Find the best Advisor)
How do I find retirement planning near me? Find retirement planning near me by finding a fee-only adviser via the National Association of Personal Finance Advisors (NAPFA). Alternatively, search Google or ask friends and family for recommendations. Ensure you are working with a certified financial planner working to a fiduciary standard. Imagine, understanding who to …
Retirement planning near me (Find the best Advisor) Read More »
What is a custodial Roth IRA? (Open retirement account for minors)
What is a custodial Roth IRA? A custodial Roth IRA is an individual retirement account for minors, managed by the custodian until the minor reaches legal age. The contributions are post-tax and the contributions and earnings are considered tax-free. Contributions can be withdrawn at any time, but earning withdrawals must be qualified. Imagine, setting up …
What is a custodial Roth IRA? (Open retirement account for minors) Read More »
How long does it take to save $100k?
How long does it take to save $100k? Contributing $500 per month at an 8% return on investment will give you $100k in 11 years. You can achieve your first $100k faster by contributing more or finding a better return on investment. Most people have more control over their contribution amount than rate of return. …
How long does it take to save $100k? Read More »
Can I retire on $300k and make it last?
Can I retire on $300,000 and make it last? It is possible to retire on $300,000 and make it last. You can invest in a growth portfolio and withdraw 4% every year. Alternatively, you can invest in dividend paying assets which will continue to pay you for ownership in the company. Imagine, being able to …
Can I retire on $300k and make it last? Read More »
Can I retire at 55? (How much money you need to retire)
Can I retire at 55? You can legally retire at 55 if you have enough saved for retirement. Keep in mind, there is a 10% early withdrawal penalty for 401k withdrawals before 65 and IRA withdrawals before 59.5. Reduced social security benefits are not available until you reach 62 years old. Imagine, being able to …
Can I retire at 55? (How much money you need to retire) Read More »
Is Vanguard REIT (VNQ) a good investment?
Make Money, Money, Save Money / By Tight Fist Finance
Is Vanguard REIT (VNQ) a good investment? Vanguard’s Real Estate Investment Trust ETF (VNQ) is a good income producing investment. VNQ has maintained an approximate 8% annualized return since inception with dividend yields around 4%. Cost of VNQ is low with an expense ratio of 0.12%. However, Investors need to make an informed decision before …
Is Vanguard REIT (VNQ) a good investment? Read More »
How ETF fees work. (Calculate and compare index fund expense ratios)
How do ETF fees work? ETF fees or “expense ratios” are charged by the fund manager which is how the brokerage makes their money. Typical fees range from 0.03% all the way up to 1% or more. The fee is the amount of money that will be deducted from your portfolio over the course of …
How ETF fees work. (Calculate and compare index fund expense ratios) Read More »
Dave Ramsey saving money tips: Steps for saving money each month
Dave Ramsey saving money tips are widely accepted ways personal money management. Many families have dug themselves out of debt following Dave’s advice. How would you like to pay off all your debt? What about saving enough money to retire? Dave has helped numerous people manage their money. Learning about his money saving process can …
Dave Ramsey saving money tips: Steps for saving money each month Read More »