James C. Molet's Blog, page 84

Living Frugally: Less Waste

I would like to take you on a mental journey to a place of less…less consumption, less waste, less spending, less accumulation of stuff.  In this place, less actually leads to more – I see your forehead wrinkling but stay with me.  Less spending yields more saving and less consumption yields more contentment. In our American culture, being frugal is sometimes synonymous with being a tightwad, penny pincher or cheap skate.  We are all about the latest gadgets, the newest models, and the most expensive everything.  But let’s think for Read the Full Story

Morality in Doubt

The best way to stay on top of all the happenings here at RetirementSavvy?  Subscribe and get notified via email when new Discussions, Recommendations, and Quizzes are published. Movie: Margin Call (2011).  Starring Kevin Spacey, Paul Bettany, Jeremy Irons, Zachary Quinto, Stanley Tucci, Simon Baker, and Demi Moore.  At a respected financial company, one of the victims of the downsizing is the risk management division head, who is working on a major analysis just as he is given his walking papers.  His protégé completes the analysis and frantically calls his colleagues Read the Full Story

Introduction – Taz Bright

The best way to stay on top of all the happenings here at RetirementSavvy?  Subscribe and get notified via email when new Discussions, Recommendations, and Quizzes are published. While the focus on this blog remains retirement planning, there is the recognition that certain practices support that objective.  One such practice?  Economizing the use of resources…or living frugally.  Therefore, I am pleased to announce that starting this Saturday, September 7, we will present a Living Frugally article every Saturday.  A Guest Contributor, Mr. Taz Bright, starts us off by highlighting behaviors Read the Full Story

Utilizing ‘my’ Social Security Account

Understanding your Social Security benefits is a Savvy use of your time.  The Social Security Administration web site can be a useful tool as you prepare for retirement and during the period you spend in retirement.  If you have not already done so, I highly recommend you visit the site and create a my Social Security account. How does a my Social Security account benefit you?  It provides multiple capabilities if you are currently receiving Social Security benefits or have Medicare, including: Receiving your Benefit Verification Letter Checking your benefit Read the Full Story

Double Dose of 2008 Financial Crisis

Documentary: The Flaw (2011).  This documentary by David Sington takes a look at the recession and financial collapse of 2008, offering opinions of the causes through interviews with noted homeowners, economists, financial reporters, and Wall Street bankers.  While some critics believe it does not give a fair accounting of all the causes and the forces behind those causes – I will let you be the judge of that – it serves as another look at the recent financial crisis and serves as one more tool that SavvyInvestors can use to plot Read the Full Story

Wealth Accumulation

Ideally, a solid fiscal foundation is built during young adulthood, the 20s and 30s: With that foundation in place, those crossing over into their 40s (a place in time that I currently inhabit) are entering their prime earning years.  The prime earning years?  The period between 40 – 60 years of age when most people have settled into a career and are earning their highest income.  During this period, individuals should shift their focus from the establishment of their fiscal foundation to wealth accumulation.  This period is comprised of three Read the Full Story

QE, Tapering & You, Oh My!

Unless you have been off planet lately, perhaps just returning from a trip to Mars, you have heard lots of talk about “tapering” and you have probably noticed the impact all of that talk has had on the stock market.  What does it all mean and how will it impact you retirement plan?  Before we get to the last question, first we have to establish the back drop, understand the environment we are discussing. Following the 2008 financial crisis, the Federal Reserve implemented a rarely used practice referred to as Read the Full Story

Fascinating Documentaries

Documentary: Mind Over Money (2010).  I recently stumbled across this television documentary while surfing Hulu Plus.  In the aftermath of the 2008 financial crisis; the worst since the Great Depression, PBS’ NOVA presents an entertaining and penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions.  The program reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance.  In the face of the recent crash, can a new science that aims Read the Full Story