Editor: Crass Cash
I'm starting to realize that I could develop whole separate website based upon this category. Articles abound on where people fucked up their personal finances. It's a great learning tool where you benefit. We all know what we're supposed to do. Eat fruits and vegetables every day, exercise for 30 minutes a day, sleep 8 hours, don't stress out, etc. etc.
But learning more specific areas of where somebody else messed up can you help you as well. If you see similar patterns or areas of ignorance in your own life, then you need to change them.
So what mistake did they make in this article?
http://finance.yahoo.com/news/retirement-savings-fears-grip-americans-094500737.html
This one is easy and it's two fold. First, they relied upon somebody else for their retirement income/planning, namely their previous employers and the Federal govt. ALWAYS A BAD MOVE! Why do you think that the rich are such paranoid control freaks? They would never hand over this much power to some unknown entity. Ridiculous! The second mistake was not doing their homework. They should have been reading up and following along in the news about how the change in these types of programs were going away or changing. Ignorance is bliss, but it's no excuse.
You don't need to read about finance like I do every day, but you do need to be made aware of how it's changing over your lifetime. You at the very least need to know the following...
1. If I had an emergency, how much money would I need to be ok?
2. How much am I going to be spending in retirement?
3. How much money will I need in order to generate enough income to offset those expenses?
4. What is the best vehicle for growing and protecting those assets that will take care of me in retirement?
5. If something happened to me physically or in a lawsuit, am I protected via insurance?
6. Do I have a will and a living trust in case something happens to me?
That's a good place to start in case you haven't...
But learning more specific areas of where somebody else messed up can you help you as well. If you see similar patterns or areas of ignorance in your own life, then you need to change them.
So what mistake did they make in this article?
http://finance.yahoo.com/news/retirement-savings-fears-grip-americans-094500737.html
This one is easy and it's two fold. First, they relied upon somebody else for their retirement income/planning, namely their previous employers and the Federal govt. ALWAYS A BAD MOVE! Why do you think that the rich are such paranoid control freaks? They would never hand over this much power to some unknown entity. Ridiculous! The second mistake was not doing their homework. They should have been reading up and following along in the news about how the change in these types of programs were going away or changing. Ignorance is bliss, but it's no excuse.
You don't need to read about finance like I do every day, but you do need to be made aware of how it's changing over your lifetime. You at the very least need to know the following...
1. If I had an emergency, how much money would I need to be ok?
2. How much am I going to be spending in retirement?
3. How much money will I need in order to generate enough income to offset those expenses?
4. What is the best vehicle for growing and protecting those assets that will take care of me in retirement?
5. If something happened to me physically or in a lawsuit, am I protected via insurance?
6. Do I have a will and a living trust in case something happens to me?
That's a good place to start in case you haven't...
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