James C. Molet's Blog, page 67

Cream City Hustle – A Novel

The Hustle is on in the Cream City My story doesn’t quite begin the way many fairy tales do. It begins with, “Damn!” Marcus swore under his breath as he blew into his cupped hands, trying to warm them and fend off the cold October air. For the last six months or so I have been working on my first novel, a personal finance thriller entitled Cream City Hustle. Most of the writing was completed about three weeks ago and recently, the book’s Editor, Brian D. Tramuel, finished his work. Read the Full Story

Cream City Hustle – Available for Pre-Order

My debut novel follows the struggle of one young man as he seeks to secure his financial future in a system that constantly applies downward force and a drug dealer bent on his absolute destruction. In the heart of Milwaukee, Marcus dreams of attending college, minus the scourge of debt, and building a firm financial foundation. Through misfortune he crosses paths with Caine, a would be drug lord from Chicago who has relocated to the Cream City to build an empire. His name – derived from cocaine – was earned in Read the Full Story

Catastrophic Financial Event

Ever seen the movie Deep Impact? If not, in the movie scientists discover that a comet is on a collision course with the Earth – a comet so massive that its impact with earth will cause an “E.L.E,” an Extinction Level Event. An event so catastrophic it will change – eliminate? – life as we know it. Applying that doomsday scenario to finances I coined the phrase Catastrophic Financial Event and the resultant acronym “C.a.F.E.” What is a C.a.F.E.? Hint: It is not a place you might go for a Read the Full Story

Banking at Walmart

A couple of months ago I recommended Spent: Looking for Change, a 2013 documentary – sponsored by American Express and narrated by Tyler Perry – which focused on everyday Americans shut out of the finance system most of us take for granted. Available for viewing on the Spent Movie website and YouTube, the documentary noted that many of these Americans turn to pawn shops, check cashing services; and use payday and title loans to meet basic financial needs. Of course the practice is quite costly. It has been calculated that $89 billion a year goes Read the Full Story

The MyRA Follow-Up

Back in January, President Obama introduced the MyRA – My Retirement Account. As noted by President Obama, the program’s goal is to encourage millions of Americans to build savings that can supplement Social Security benefits. Considering that Americans already have access to a myriad of savings and retirement plans including 401(k) and 403(b)s; traditional and Roth IRAs, Rollover IRAs, health savings accounts, and 529 college savings plans, many people wondered how the MyRA was different and what exactly did it add to the mix? Essentially, the MyRA is a type Read the Full Story

A SavvyInterview – Talaat & Tai

I met Talaat and Tai through social media as they were standing up their blog, His & Her Money. I like the idea that a couple that are actively managing their finances together – working through their differences – are willing to share their experiences with others through their blog. I invited them to ‘sit’ for A SavvyInterview once their blog was up and running. Well, their blog is up and here they are. I hope you enjoy meeting this couple that started off as high school sweethearts, got married Read the Full Story

Annuities – A Retirement Income Stream Option?

During the course of previous discussions, we have identified three general stages in an individual’s investment lifecycle: building a fiscal foundation (conducted during your 20s and 30s), accumulating wealth (occurring between the early 40s and mid-50s), and pre-retirement, the five-year period prior to your desired retirement age. During the pre-retirement stage, debt is eliminated and a plan – considering the withdrawal rate (e.g. the 4% rule) and the order of withdrawal from the various retirement accounts – to draw down the retirement nest-egg is developed. With a sufficient nest-egg in Read the Full Story

#CreamCityHustle – Update #3

September 6th – Update #3 Some great news. Mr. Brian Tramuel, a well-known, long-time reader has agreed to come aboard as the Editor. I reached out to Brian because I know he shares a passion for personal finance and he possesses a flair for writing. Take a moment to check out his work at TramueL.com. I’m certain he’ll catch the occasional grammatical error missed by myself and my home editing team – my wife and brother – but more importantly, he’ll ensure that there is a flow to the story Read the Full Story

MoneyConscious Student

I share an affinity with David and John, authors of #MoneyConscious Student. Through our connections on various social media and shared interest in personal finance, I have come to learn that they reside in Denver (where I grew up), they enjoy wine (I love a good glass of red) and that we share a passion for trying to help others achieve financial freedom. As they note on their blog, Debt Free Guys, their mission is to help each person become Money Conscious which results in the elimination of debt and the Read the Full Story

A Guide to Developing and Managing Your Retirement Plan

Over a year ago, I published my first book, RENDEZVOUS WITH RETIREMENT. The subtitle of the book, A Guide to Getting Fiscally Fit, informs readers of the book’s intent. I lay out a practical, proven method for achieving fiscal fitness and preparing for a financially secure retirement. Like a lot of people, a separation and subsequent divorce left me in a difficult position financially. At the time, the early 2000s, I was thirty-four years old, active duty in the United States Army for 17 years – half of my life Read the Full Story