Money Saving, Smart Shopping, Investment & Retirement Strategy Posts

Discussion in 'Investment Talk' started by Emily Litella, Jul 4, 2015.

  1. Emily Litella

    Emily Litella Well-Known Member

    Deleted.
     
    Last edited: Nov 16, 2022
  2. pegmih

    pegmih Well-Known Member

    Make a list of all your monthly income.

    Then make a list of all your monthly outgo.
    HOA, telephone,internet/cable, electricity, groceries,
    entertainment, newspaper, church, etc., etc, and so forth.
    (sometimes it is necessary to put yearly total divided by 12
    for example: Property tax)

    Hopefully, you will have more income than outgo.
    --------------

    Then make a list of all your investments:
    Stocks, bonds, saving, cds, annuities, etc.

    Then make a list of all your assets.
    House, car, furniture, etc.

    Add them together to get your net worth.

    It's a fun project and my financial advisor said everyone should do it but most people don't.
     
  3. pegmih

    pegmih Well-Known Member

    In "outgo" I should have included mortgage payment & car payment which can be substantial.

    BTW. Seniors should consider "gifting" money to their children. You can "gift" up to $14,000 a year and it is tax free. For more info google "money gifts".
     
    Last edited: Jul 5, 2015

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