Today is the day! Now you can get Beyond Paycheck to Paycheck virtually anywhere books are sold, online or off. For information about Beyond Paycheck to Paycheck, including testimonials, endorsements, and excerpts, visit About Beyond Payhceck to Paycheck today. You can order right from the site and get an autographed copy for [...]

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Even if your employer doesn’t match your contributions to your 401(k) plan, contributing to your retirement plan is still a great financial move. The moment you make a contribution, your net worth increases by the amount you save in income taxes. These tax savings come to you by simply moving money from your right pocket [...]

Continue reading about Strategy # 11 – A 401(k) plan contribution immediately increases your net worth

Michael on June 28th, 2007
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Your retirement isn’t a three-legged stool – it’s a pogo stick.

You: Excuse me?
Sorry, but it is what it is. Formerly, the three legs of the retirement funding stool for most Americans were:

An employer pension
Social Security
Personal savings

No longer.
Preferably in private, go ahead and curse the members of society whom you blame. Pick a Congressperson or two–even [...]

Continue reading about Strategy # 10: Turbo-charge your pogo stick

Michael on June 27th, 2007
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If you save a high enough percentage of your income, your net worth almost always increases over a full month.  Even if the market has a poor month, your new savings often exceed your investment losses, causing your net worth to still increase before you flip the calendar.
But when the market has a good month, [...]

Continue reading about Strategy # 9: Save More to Feel Richer

Michael on June 26th, 2007
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Can I borrow $2,500 and give it back to you next April?
You: Are you going to pay me interest?

Now that you mention it–nope. No interest. Just the $2,500.
You: No way. You’ve got to pay me interest. That’s my money you’re talking about. I’m no charity.
Good to hear, right answer. Yet [...]

Continue reading about Strategy # 8: A Tax Refund is Not a Savings Program

Michael on June 25th, 2007
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Despite the thousands and thousands of books, articles, newsletters, blogs, billboards and advertisements, I have only discovered one true way to guarantee your net worth will increase. Now there are other ways that usually work and others that, via creative math and suspicious assumptions, are presented to always work. I’m not talking about [...]

Continue reading about Strategy # 7: Guarantee Your Net Worth Increase

Michael on June 22nd, 2007
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The CFP® Board sent out an eNewsletter earlier this week containing an article titled How To Live Beyond Paycheck to Paycheck.
It’s great to see such a prestigious organization committed to promoting financial planning education and awareness. To that end, the CFP® Board is providing a free financial planning clinic in Boston on August 4. [...]

Continue reading about CFP® Board’s Financial Planning Clinic

Michael on June 21st, 2007
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The appropriate way to measure the cost of a debt is not by looking at its balance–that’s only the debt’s size. Rather, the cost of the debt is measured by the interest rate charged. The higher the rate, the more costly the debt.
When you only make the minimum payment on an ordinary credit [...]

Continue reading about Strategy # 6: Get rid of expensive debt first

Michael on June 20th, 2007
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Yesterday evening I led a workshop titled How to Live Beyond Paycheck to Paycheck at the University of New Hampshire.   After just a couple of hours, people with little or no previous financial planning education were empowered to take control of their financial lives!  What a great experience!
Now, I don’t think a single attendee left [...]

Continue reading about Enjoyable “Work”shop

Michael on June 19th, 2007
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Called the most powerful force in the universe, the miracle of compounding interest works in two very different ways:

For good–you’re receiving interest on your interest
For evil–you’re paying interest on your interest

You:  Interest on interest?
Exactly. For example, take a basic savings account. Say you deposit $100 on January 1 to an account that pays 5% [...]

Continue reading about Strategy # 5: Let the force be with you