I’ll be honest. I’ve been a little afraid to start this blog and even more afraid to write about real world problems and how we can fix our own little financial worlds in the midst of all this chaos. I’m going to do my best to share my thoughts and let the chips fall where they may.
One topic I’ve researched a lot over the years, watched documentaries on, but personally do not fund are 401k retirement plans. We do have a pension system (while in disarray) that we are paying into and we fund Roth IRAs. We have the option to fund 403b accounts, but at this time we’re investing that money in paying off our mortgage.
If you want a true picture of the 401k (or 403b), read Why Your 401k Is A Scam! by James Altucher. So far, that’s probably the best piece of writing I’ve found that explains it straight forward.
I know not everyone will agree with me, but that’s okay. That’s why personal finance is personal. As long as you’re comfortable with what you’re doing, then don’t listen to anyone else.
One of the biggest things I’ve said to others who talk to me about personal finance is to ask questions. Lots of questions. If someone is coming to meet you in your work lunchroom to manage your retirement, you’re paying them. This isn’t a free meeting. They are getting paid in fees and bonuses for all the money they are bringing into their company. Don’t be fooled. Continue reading…