S/I

How Much Did I Save In 2016?

Last Updated on January 22, 2018April 25, 2017 23 Comments
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For me, 2016 will go down as the first year I began aggressively saving for retirement. It sort of bums me out that I’m getting into the savings game so late. At 30 years old, I’m way behind my more financially literate peers, some of whom have already retired or established huge treasure troves of savings. See folks like Millennial Revolution, Money Wizard, and Fiery Millennials.

A part of it is a byproduct of me entering a profession that requires years of extra schooling and a ton of student loans. While most people start their first job at 22 years old, most lawyers won’t start their first job until they’re 26 or 27 years old.

I Can Afford The New iPhone And You Can Too

Last Updated on January 22, 2018September 15, 2016 15 Comments
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The new iPhone just came out and folks are lining up to get their hands on it. While everyone else rejoices about the new phone, it seems like we in the personal finance community collectively shake our heads. I recently read a few articles about the financial evils of buying a new phone and found this puzzling. I’ve never thought of a new phone as a financial sinkhole. And when you do the math, it’s not very expensive if you plan it out in advance. So why are people saying not to upgrade the single most important piece of technology most of us own?

Prism App Review – An Awesome Free Bill Management App

Last Updated on January 11, 2019September 3, 2016 38 Comments
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I’m a big fintech geek and there are some really awesome apps out there. You’ve probably already read reviews about some of the big players in the fintech world such as Mint and Personal Capital. I thought it’d be helpful to share reviews about some of the lesser known fintech apps that I personally use and that I think might be useful to you. One such app is Prism.

While I’m a big fan of automating your finances, I still like being able to look at my bills before I pay them. There’s just something comforting to me about being able to make sure that my bill looks right before I pay it. It’s something I’ve done my entire life and I guess I’m just stubborn…

Questions To Think About When You’re Setting Up Your HSA

Last Updated on January 22, 2018February 16, 2017 16 Comments
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Earlier this week, we talked about the Health Savings Account (or HSA as it’s commonly called). The thing that always bothered me about HSAs are how confusing they are compared to a 401(k). I think this is part of the reason that a lot of people don’t really know what an HSA is or how it works. Almost everyone I’ve ever talked to has heard of a 401(k). But very few people in the regular world have heard of an HSA.

The problem with the HSA has to do with the fact that it requires a little bit more work to set up. 401(k)s, for the most part, are basically automatic at this point. Most employers opt you in by default, deduct a certain percentage from your paycheck each pay period, and put your contributions in a default investment option in your 401(k) – typically some sort of balanced fund or a target date fund.

Setting up an HSA, on the other hand, requires a little more work…

Save $100,000 By Solving The Last Mile Problem

Last Updated on January 22, 2018April 8, 2017 18 Comments
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One of the fun things about living in a college neighborhood is getting to see all of the different modes of transportation college kids use to get themselves around town. If you’ve never spent time in a college neighborhood as an adult, take a weekend afternoon and just hang out in one for a bit. I promise that you’ll never see so many creative ways to get yourself from Point A to Point B. Folks travel around on skateboards. Scooters. Rollerblades. Basically anything with wheels. These college kids are masters at figuring out how to get around a city quickly, cheaply, and efficiently.

Non-car based modes of transport that go beyond walking are totally normal in college areas but seem oddly out of place in many “adult” neighborhoods. I know that when I lived in neighborhoods populated primarily by young professionals, I saw far fewer people using bikes as a primary mode of transportation. In even fancier neighborhoods, you’ll probably rarely catch a full-fledged adult biking as a means of commuting.

The HSA: The Perfect Retirement Account For Millennials

Last Updated on January 22, 2018February 13, 2017 24 Comments
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Read enough personal finance blogs and at some point, you’ll probably stumble across someone writing about the “secret” retirement account known as the Health Savings Account (“HSA”). For those of us who are entrenched in the personal finance world, the HSA really isn’t all that much of a secret. Most of us who are into this money stuff know that it’s a pretty advantageous savings vehicle.

The thing that I think doesn’t get pointed out enough is how perfect the HSA is for millennials. By giving yourself access to an HSA, you get two awesome things. You gain an extra tax-advantaged account that can really help you maximize your savings. And you lower your monthly health insurance premiums at a time in your life when you probably have very low healthcare costs.