As one home after another goes up for rent in my neighborhood, it's losing its quaint, hometown feeling. Instead of home flippers, the new homeowner landlords are grabbing up all the housing inventory and raising rents.
With the advent of the Roth IRA, it doesn't make sense to pit saving for retirement against saving for a child's college education. I use my contributions to my Roth for college, while letting the earnings grow for retirement.
I was glad to be underwater on my mortgage because it motivated me to pay down my mortgage debt. However, I won't make the same mistake again of buying a home that is overpriced at higher interest rates.
After living through the dot-com bubble of 1999, I learned that it's better to be a long-term investor and not a trader. With so many everyday investors returning to the market, I get the eerie feeling it's time to bail on stocks.
By age 40, I had $100,000 saved for retirement even though my salary remained flat at $40,000 for more than 6 years. I don't let a low salary dictate my destiny because I educate myself on how to invest.
After I stopped funding my family's individual savings accounts a year ago, they finally made progress on their own. I realized I was enabling their poor spending habits and ruining our long-term financial goals.
Experts say a person needs to save $1 million for every $40,000 they want to replicate in retirement. I'm trying to learn the secrets of millionaires so we can accumulate $3 million to generate a 6-figure retirement income.
Some people will go to great lengths to they can retire in early. I am not willing to save a quarter of my income for retirement, move to a third-world country or live an extremely frugal lifestyle in order to retire before age 50.
A new survey of wealthy people reveals they fear being hated for their prosperity and success. By living below my means, I am able to build wealth. No one is jealous of my middle-class lifestyle and work schedule.
One of the ways the Great Recession changed me is by making me more willing to talk about money. A new survey indicates most people still find it challenging to discuss their personal finances. It a more taboo topic than religion.
Real estate experts say another housing crash is on the horizon as the millions of baby boomers begin to downsize. Few people are in the market for the larger, step-up homes that boomers might need to practically give away.
I am planning to amp up my retirement savings when I'm 50, but for now I have other financial priorities. According to experts, it should get easier to grow a nest egg after age 50 with catch-up contributions.
Just as I built up my emergency savings while paying off credit-card debt, I've been building up my retirement savings while paying down my mortgage. In the past decade, I saved up my first $100,000 for retirement.
My dream to own a home in my 20s was shot down because of massive student loan debt. I worked an aggressive plan to pay off my debt by age 30 so I would buy my first home by age 32, but students today are in worse shape.
Although I can understand why people rejected a $15 minimum wage, it only seems fair to boost minimum wage to $10.10 an hour. Many upper middle-class families such as mine struggle to help the new poor in our family.
I compete with my husband to see who can grow a bigger retirement account by using polar opposite approaches. I decided long ago that my husband is on his own when it comes to funding and managing his accounts.
I found a smart way to save for retirement as well as emergencies by using the Roth 401(k). Cashing out the contributions but not the gains to my Roth 401(k) after a job change saved me a huge tax bill.
I'm overcoming my bad financial habits now so I don't end up broke and destitute as a senior citizen. Being more frugal and investing wisely could give me the financial edge to retire in comfort beyond age 100.
My husband says he has no intention of ever signing up for Social Security benefits. If lawmakers raise the full-retirement age again and increase taxes on Social Security "income," it might be smart to have a backup plan.
Instead of paying my bills on a monthly or even weekly basis, I'm tackling my debt each and every day. I use online banking to stay on a daily budget plan that keeps me out of credit-card debt and helped me cut my mortgage debt in half.
Pre-paying my mortgage takes precedence over saving for retirement in my 40s. I can still accumulate $500,000 by the time I reach my full retirement age of 67. Being mortgage free by 50 will help me meet several goals.
I was upset at the time, but now I'm glad my husband refused to marry me until I paid off my 12 credit cards. A new survey shows some people would rather end a relationship that commit to someone with serious debt.
When I went to confess my shopping addiction to my husband, I was shocked to find out he had his own secret bank account. Our marriage improved when we finally shared our deepest financial fears and regrets.
Having older baby boomer parents who run up credit card debt creates a financial strain on the rest of the family when Social Security can't cover the mortgage. We had to have the big money talk and break the debt cycle.
If Generation X is the most stressed generation now, they will be having nervous breakdowns in retirement. Paying off my mortgage in my 40s is my best solution for reducing financial stress now and when I'm old.
After watching the value of our home sink in half, I refuse to gamble on a house flip even though house flipping is back in a big way. Without the handyman skilled needed, it doesn't make financial sense to flip an investment.
One of the first financial moves I'll make after a job layoff is to contribute to a spousal Roth IRA account. Like half of the women in America, I fear a bag-lady future unless I can save uninterrupted for retirement.
I'm resisting the urge to rush out of stocks because of my animal instinct during this stock market correction. Following the 5 rules for survival when stock markets turn ugly is keeping me on my get-well-to-do slowly path.
While AOL employees' complaints helped overturn a year-end 401(k) match policy, I've been saving for retirement with no company match. Others have no access to a 401(k) plan, but can still save a million for retirement.
I give my husband a hall pass when it comes to spending our discretionary income. Experts say a growing number of people are financially unfaithful, but I don't feel guilty about keeping financial secrets.
I'm fascinated by virtual investments such as bitcoins, but I'm not planning to get involved in speculative investments. I would only invest in bitcoins in a mutual fund or ETF that only included a small amount of bitcoins.
A new financial wellness study suggests Generation-X'ers are the new "Lost Generation." I'm not worried about building up wealth as much as being a survivor in unpredictable and turbulent financial times.
I am closer to meeting my retirement savings goal than a lot of my older peers, but I am not at all confident. Retirees and near-retirees will probably receive more in Social Security, while Gen-X is left scrambling to save.
While it's possible Obama's MyRA program is part of a financial conspiracy, I think of it as a carefree way for my son to save for retirement when he is so afraid to invest in the stock market. In my view, it's a great "starter" account.
I don't want to retire with only tax-deferred retirement accounts, but it hasn't been cheap to convert to a Roth IRA. I chose to make an IRA Recharacterization request to move money back into a traditional IRA so I wouldn't owe taxes.
My husband and I are trying to save $2.5 million for retirement to generate a 6-figure income when we are old. We feel poor living on six figures now, but only because we have a lot of midlife expenses.
I pay myself first by funding my emergency fund, but saving for retirements is my last priority. With all the early withdrawal feels and penalties, it was not worth it to save for retirement until my mid-30s.
After being burned in my 20s by the dot.com stock market crash, I am getting nervous about the recent stock market correction. I'm taking drastic steps to ensure I win even if equities become the biggest losers.
A new report shows almost half of Americans are paycheck dependent. I don't want to live with persistent economic insecurity so I'm finding ways to live below my means, pay off my mortgage and save for the future.
Workaholic baby boomers might enjoy delaying retirement until they are 73, but it's going to mean fewer jobs for generations Y and Z. Ironically, younger boomers and my Generation X work longer to help our children.
I believe experts who say we may be headed for a third bubble to burst, resulting in a stock market crash. I'm getting more conservative with my money and putting in stop losses to guard against a crash in 2014.
I don't believe a retirement savings crisis is inevitable for people in my Generation X. We still have time to meet the retirement savings targets by letting go of the delusion that we can retire on Social Security and inheritances.
I am resisting the urge to blow my tax refund so I can have more money in my Roth IRA by the time I retire. By funding my Roth IRA early in the year, I won't miss out on months of potential gains so I can afford Fiji when I'm retired.
I made a goal to pay off my delinquent student loans by the time I turned 30. With the rising cost of tuition, I shudder to think how many years it would take to pay off the massive student loans that are killing an entire generation.
Reports of a housing recovery in Florida are somewhat exaggerated in my opinion. While investors are buying foreclosures and turning them into rentals, it's hard to attract buyers who plan to occupy the homes.
Although I had to drag everyone kicking and screaming, my family is living on one income. We discovered that lifestyle inflation was to blame for the fact that we did not save half our income in the past decade.
I regret trading stocks within my emergency fund in the past, but I'm no longer taking chances. I don't agree with financial experts who recommend investing in stocks with money set aside for a rainy day.
We purchased a more modest home so we would be able to pay it off in half the time. It wasn't until we refinanced to a 15-year term that we made real progress on our goal of paying off our mortgage in 15 years.
I don't want my friends and family to put out a "Silver Alert" because I'm financially lost when I'm older, but it's tough to save when you are self-employed. I am planning now for a more secure retirement.
Financial experts are starting to notice the money-savvy habits of the younger Millennials. With two sons who came of age during the Great Recession, I am financially benefiting from their frugal ways.
I could become extremely apathetic about my retirement, but I think about it from the perspective of my "future self." I came up with easy ways to improve my retirement outlook without living like a pauper in the present.
It's becoming all too common for middle-aged workers to face severe pay cuts and layoffs before a decade before they are eligible for Social Security. I'm making a financial plan to survive any gap years before retirement kicks in.
With financial analysts warning of a major stock market correction, I'm putting in stop losses. Using stop losses has given me more confidence to hold my positions longer. The key is to constantly adjust my stop loss prices.
A startling report by CreditLoan.com shows how the average American spends a lifetime in debt, owing $600,000 in interest by the time they die. I am making financial moves so I can spend half my life completely debt free.
Some workers try the "fake it until you make it" approach to being in the middle class by running up credit cards. Raising minimum wage now will keep generations X and Y in the middle class even with robots at work.
The first financial move I'll make if I lose my job is to pay off my mortgage. I've been making financial moves based on the goal of losing my mortgage overnight if we lose our second income in the family.
I've been using negative thinking to get out of debt. I let myself worry about job loss, another recession and financial disasters because it motivates me to live below my means, save for the future and avoid debt.
A second housing bubble means our young adult children may have to live in the garage until housing costs are more affordable. Our children know we bought during the first housing bubble and won't make the same mistake.
Getting out of debt in my 20s when I was single was a lot different than it is in my 40s. I came up with a mid-life plan to get out of debt that doesn't involve working 7 days a week, but spending a lot less.
As a member of Generation X, I've been burned by the stock market too many times. Experts say the middle-class has missed the wealth effect created by soaring stock prices. I'm invested in stocks, but still poor.
I'm planning to pay on a mortgage for no longer than 15 years, even if it means using my Roth IRA contributions to pay the remaining balance. My countdown to retirement plan includes being mortgage free.
Even though interest rates are low, I still believe in putting a little more in bonds and fixed income accounts and less money in stocks as I grow older. The '100-minus-my age' rule helps me rebalance my portfolio on my birthday.
I haven't forgotten the lessons of the Great Recession, but some financial experts want consumers and investors to throw caution to the wind. I am noticing scary parallels to today and the years leading up to the Great Depression.
My family is saving money for retirement in hopes of getting a tax break with the saver's credit. Although my husband and I are not always eligible, our young adult son is motivated by the saver's credit offered by the IRS.
With interest rates and home prices going up, we are scrambling to come up with down payment money to help our adult son buy his first house. We have decided to tap the Roth IRA accounts first before other options.
I'm rushing to refinance after the Fed announced it would begin tapering. I am also worried that my 401(k) might take a new hit if the market doesn't respond favorably to tapering in the next few years.
I used to treat debt like an emergency, but now I realize it's more important to have a safety net in the form of an emergency savings account. I avoid running up new debt by saving for emergencies, retirement and college.
I'm taking a new strategy to investing within my Roth IRA after it was wiped out. I am no longer investing in individual stocks, but relying on dividend-paying funds. I also plan to keep my hands out of the Roth IRA cookie jar until I'm old.
Even if we are headed to a cashless society, I am planning to use cash until it's no longer accepted. After having an on-line shopping account hacked and the Target security scandal, I'm being safe with cash purchases.
It might seem insane to refinance from a 2.75 to a 4.35 mortgage rate, but we can decrease our monthly payment if we refinance to a 30-year loan. We can more easily afford to live on one income with a smaller mortgage bill.
I came up with a few tricks to stop myself from spending my savings. I am less likely to tap my regular IRA and 401(k) because of penalties so I charge myself a 10-percent penalty if I dip into my regular savings account.
I graduated in the early '90s recession, while my sons graduated in the more recent recession. New research shows recession graduates are more satisfied with their careers. We have a less entitled attitude.
New lending rules will make it more difficult for first-time home buyers to secure a mortgage. My millennial son will have to live at home longer before being able to qualify with the lower debt-to-income ratio.
All of the different generations were affected by the Great Recession, but I believe Gen-X'ers are bouncing back just fine even though some experts say we are the biggest losers in the current economy.
I went from living in an upscale townhome in a master-planned community to a house in a less pretentious neighborhood, cutting my housing costs in half in the process. I estimate I'm saving more than $360,000 over 30 years.
I rather pay taxes now on my Roth IRA conversions than have to pay taxes and be forced to take required minimum distributions out of my retirement accounts when I'm older. Arguments against the Roth IRA for anyone are weak.
I have been a bit of a serial 401(k) borrower because I've done a terrible job at building up an emergency fund. I even did a reverse rollover so that I could put money into a 401(k) from an IRA in order to borrow from myself.
In an effort to teach my 19-year-old son how to budget, I decided to test out the 25 percent strategy to budgeting. Having a simple way to plan for taxes, housing, debt and living expenses helped me get ahead.
I was surprised to find my home rather than the bull stock market takes most of the credit for helping me regain the wealth I lost during the Great Recession. Experts say Americans' net worth rose to one of the highest levels on record.
I decided to put off plans to invest in real estate until 'The Great Senior Sell-Off' creates the new housing crash. As baby boomers sell their homes and downsize, there should be a flood of cheap houses to purchase.
When I found out I can't get full retirement benefits until age 67, I knew I had to write down a retirement timeline. I plan to make catch-up contributions in my 50s so I won't outlive my retirement money later in life.
Now that interest rates are going up, it's becoming more fashionable to pay down a mortgage early. We were able to knock 8 years off the length of our original mortgage with a combination of strategies.
People with a 6-figure household income or higher are being classified as part of the 'new rich," who are too blame for income inequality in America. For the Gen-X'er with outrageous expenses, it takes a lot more to be rich.
Owning a home outright is the biggest part of my retirement plan. I'm not planning to use the equity in my home to fund my retirement. I'm planning to retire in place to save me at least $1,000 a month in retirement.