Two weeks ago, it was election day in the United States. Many of you were likely watching the results as they came in on election night and the days that followed. The high voter turnout shows how much more interest there was in the election this year versus years past. Here are a few questions about the election for you:
Do you know who won the presidential election?
Do you know which states flipped from red to blue or blue to red?
Do you know who will control the Senate?
Do you know how many seats were flipped in the House of Representatives?
Many of you will know the answers to at least some if not all of the above questions. Now I have a few more questions for you:
What is your net worth?
How much did you spend last month? And the month before?
How much are you saving for retirement?
How many subscription services do you have and how much do they cost?
I want to keep this short, simple, and to the point. Being interested in the election process is completely valid, but no matter who becomes the next president, that person will not significantly change your personal financial situation. How much would change if you were as interested and vested in your family’s finances as you were the outcome of one election? Check out some of the articles below to start making changes.
Spending With a Different Mindset
Everyone deals with money, all the time: earning it, saving it, spending it, investing it and borrowing it. How do you manage your finances? How should you manage your finances? No two individuals or families will have the exact same goals, but the path to get to those goals will be similar for many.
6 Steps to Take the ‘Rat Race Off Ramp’
Today’s post will be an overview of six steps that can help you change the trajectory of your personal finances, continue to improve your personal finances, or keep your personal finances on a great trajectory. So many people live in the ‘Rat Race’ of life, but few have plans to take an ‘Off Ramp’ and leave the ‘Rat Race’ behind. These six steps can be a guide to help you get out of the ‘Rat Race.’ and the steps you’ll use to take charge of and change your financial future.
How Much Do You Really Need to Retire?
Guess what? There is no magic ‘one size fits all’ number or thumbrule for everyone to retire. You can find tons of articles (here, here, here, and here) that tell you how much you need to retire. They will say you need a certain multiple of your salary or a magical number like $5 million or you need X% of your ‘pre-retirement’ income. But are any of those really true?
Should You Hurry to Buy a House or Refinance With Mortgage Rates at Historic Lows?
Buy a house or not? Refinance your mortgage or not? Millions of American families are facing these questions right now. Right now, thanks in large part to the Federal Reserve, mortgage rates are at all-time lows AND will likely stay there for a while (or even go lower). Although they don’t directly control mortgage rates, the Federal Reserve Board does indirectly influence mortgage rates.
Roth IRA – The Most Powerful Retirement Account
Traditional IRA, Roth IRA, Thrift Savings Plan (TSP), Roth TSP, 401(k), Roth 401(k), 403(b), and Roth 403(b) accounts are the main types of retirement accounts for those that are not self-employed. The different options can at times be confusing and overwhelming. Today, I’ll go over Roth IRAs and explain why Roth IRAs are the most powerful retirement accounts.
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