James C. Molet's Blog, page 76

How Do You Stack Up?

Along with politics, religion, and race relations, money is one of those things most people do not like to talk about.  Recently I posted the value of my portfolio after a brief internal debate.  One reason I decided to post the value was because of legitimacy.  By that I was referring to the idea an individual that is writing about personal finance and retirement planning should be able to offer readers some insight into their own financial lives; some sort of ‘proof’ so to speak. A quick side note, I like to look strictly Read the Full Story

Living Frugally: Who’s Your Doctor?

When I worked security in the Texas prison system, I had the most amazing health insurance plan.  I remember paying $10 for the doctor visit when my son’s mother found out she was pregnant. That $10 covered all other doctor’s visits, a three-day hospital stay, anesthesiologist, emergency C-section, etc. The doctor was a top-of-the-line, well-respected man who was sought after by women all over this huge state of Texas. Women flocked to him because he was great at what he did and because he, along with his team, produced positive, Read the Full Story

SavvyKids & Millionaires Next Door

Book: The Millionaire Next Door (1996).  One of the first books I read when I started on the road to fiscal fitness.  In The Millionaire Next Door, authors Thomas J. Stanley and William D. Danko summarize findings from their research into the key characteristics that explain how individuals became wealthy, defined as those with a net worth of at least $1 million.  As might be expected, their results reveal qualities of this group that stand in stark contrast to the earn-and-consume behaviors embraced by most.  The wealthy employ principals such as wisely choosing Read the Full Story

Establish and Manage Your Budget

At the beginning of another new year, many people are considering various resolutions to improve their well-being. With regards to personal finance and your fiscal health, establishing a budget is as good a resolution as any. A budget is an effective tool for controlling debt and serves as a financial guide. It lets you know if you are heading in the right direction and are on track to reach financial goals such as buying a home, sending a child to college, or preparing for retirement. In addition to being an Read the Full Story

A SavvyInterview – Tom

This latest SavvyInterview is with Tom, a long time friend (we served on active duty together) and co-worker. In fact, Tom provided some of the early feedback on my book and the establishment of this blog. We often discuss the movements of the stock market, how our portfolios are doing, and the many nuances of building a substantial retirement portfolio. What was the catalyst that started you on the road to fiscal fitness?  How old were you at the time? My catalyst was  retirement from the military, the U.S. Army. Read the Full Story

Living Frugally: Pills vs. Juicing

One of my favorite documentaries is Fat, Sick & Nearly Dead. One reason I love this documentary – although this wasn’t its primary goal – is that it compares traditional medical methods, pills and shots, to the more natural methods of juicing and exercise to treat diseases. The main character, Joe Cross, visits the USA from Australia. And in this land of the hamburger, fries, milk shakes, and hot dogs, his goal was to eat nothing but fruits and veggies for thirty days straight. The kicker is that every meal Read the Full Story

Introduction to MyRA

If you watched the recent State of the Union Address by President Obama, or follow finance related media, you are aware of the introduction of the new 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, how is the Read the Full Story

The Changing Face of Retirement

Interactive Website: New Adventures for Older Workers (2013). This PBS NewsHour interactive feature (text, videos, charts, surveys, and questionnaires) notes that more people are working well past traditional retirement age. It asks the questions, “Is retirement as we know it a thing of the past? How long are we likely to work?” The first chapter, Rethinking Retirement, notes that the percentage of workers who expect to work past 65 has more than tripled in 30 years; observes that half of American households have less than $10,000 in savings; and allows Read the Full Story

What’s Your Savings Rate?

A BBC documentary I was watching recently served as the impetus for this post.  The documentary was discussing education, productivity, consumption, and the savings rate in China as compared to Western nations, primarily the United States and the United Kingdom. The one topic that really jumped out for me was the savings rate in these countries.  A quick note, a household’s disposable income is the difference between a household’s total income and the amount available for savings and consumption (the money spent on goods and services) after taxes have been Read the Full Story

A SavvyInterview – Mr. Andy Rutter

Recently over dinner with a small group of friends, the discussion briefly turned to my book and this blog. One friend, Neil, revealed that some co-workers were attempting to develop and market elaborate stock trading software using a “fancy” proprietary algorithm. I opined that investing success is easier than most people realize once a few concepts are understood and a few behaviors adopted. Fancy software is not really required. Neil agreed and indicated that his father-in-law served as proof of that idea. He went on to suggest that I should interview Read the Full Story