How to Play the Banking Game

Posted February 14th, 2012 in Saving by Jeremy Waller

play the banking game

The following is a guest post

The banking industry is getting more and more competitive. If you look around, you’ll notice that most are offering some type of incentive to get you to bring your current accounts over. As a savvy consumer, you can play the banking game and move your accounts around to get the maximum benefit. It is easy to find and compare current accounts online. Continue Reading »

How Much Should I Have Saved For Retirement By Age 30?

Posted January 25th, 2012 in Investing, Retirement, Saving by Jeremy Waller

My birthday is next week. I’m only a couple of years away from 30 now. I’m very much getting to the point where I need to get serious about retirement planning if I don’t want to experience a lifestyle cut later in life.

For the past 5 years I’ve been systematically investing 6% of my income with a 50% employer match each month. My portfolio has performed well with returns averaging around 13% per year over the last 5 years.

I’m optimistic that I can achieve returns in the 12% range but am realistic enough to know that I need to structure my plan as though my actual rate of return will be less.

My main concern after that is if I am contributing enough each month. What amount do I need in my retirement accounts by age 30 to be confident that I will have enough to retire on? Continue Reading »

What Is An Emergency Fund? Why Do You Need One and How Does it Work?

Posted October 11th, 2011 in Saving by Jeremy Waller

emergency fund

One of the major components of being financially fit is to have an emergency fund. Having a lump sum of cash in the bank will give you a financial peace of mind and set you apart from the majority of people who are living paycheck to paycheck.

The vast majority of people would be up a creek without a paddle if they lost their jobs tomorrow. Many wouldn’t even be able to make it to the end of the month.

An emergency fund is the solution to this huge problem. Along with following a budget and paying off debt, an emergency fund is one of the keys to taking control of your finances.

Why You Need An Emergency Fund

Picture this: You walk into work tomorrow and your boss calls you into his office. “Jeremy – The company has had a rough year and we’re being forced to downsize. I’m sorry, but your position will be eliminated at the end of this week.”

If you’re like most people, that would be absolutely devastating. How will I pay my bills? Will I be able to put food on the table? Continue Reading »