Retirement Target Date Funds: Pros and Cons

Retirement Target Date Funds are rapidly surging in popularity lately. Investors are flocking to this “set it and forget it” retirement tool as an easy way to diversify their portfolio and eliminate the fees of working with a high cost broker.

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My FICA, Federal and State Income Tax “Breakdown”

A few days ago, I pulled up the tax detail on my paycheck to see how much I was paying to Uncle Sam. Since I don’t get paper checks anymore as it’s all electronic through my job, I tend to forget how much of my hard-earned money is going to the government.

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How to Get $126,000 in College Scholarships – with Jocelyn Paonita

When my daughter Zoey was born we met with a financial advisor to discuss her future college needs. He advised us that for Zoey to attend an in-state college like Michigan State University, we’d be looking at a price tag of about $200,000. 4 years of college would cost us $200,000!

Since then, we’ve been diligently saving in our state sponsored 529 plan through low-cost index funds. But honestly we don’t feel like there is any way we’re going to be able to save that much money by the time she’s 18. And quite frankly, Nicole and I want to make sure we’re set for our retirement before Zoey and Calvin get a free ride to college. Sorry kids!

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21 Inexpensive (or Free) Ways to Entertain Young Kids this Winter

Will this winter ever end?! 

I don’t know why I’m surprised at how long this winter has lasted. I’ve lived in Michigan for over 25 years now. You think I’d be used to it. This is just the time of year I go a little stir crazy! 

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MKM Challenge: Reduce Your Grocery Expenses by 1/3

Every day, I look for ways to better myself. And this blog has been my medium for that betterment over the last 6 months. It has kept me honest when it comes to being the best husband and Dad I can be as well as with growing our family net worth.

I thought it’d be fun to throw down a challenge on the first Monday of each month for myself and hopefully the readers of this family empowering blog would join along as well. The topics will vary, but will all focus on improving your financial and family situation.

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These 5 Books Will Skyrocket Your Net Worth

Earlier this year, I set a goal of having a net worth of $1,000,000 by the time I turn 40. What seemed like a lofty goal at one point in my life now seems decently feasible. I owe a lot of that success to the investment I’ve made in my education. And no, I’m not talking about college degrees (Go Green!). I’m talking about the small investments I’ve made in purchasing some of the most inspirational, eye-opening and motivating books out there on business, personal finance and professional growth.

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How to Retire Early in Northern California at 43 – with Dylin Redling

I’ve been doing a lot of research and interviews lately about financial independence and early retirement. I guess I’m inspired! The idea of not having a full-time job eventually sounds pretty appealing to me.

Well, you might say, “There’s no way I couldn’t have a full-time job in the area I live in! I have to pay my mortgage, I like to eat healthy, I need health insurance. It’s just too expensive.” Higher cost areas like New York, DC, Chicago or San Francisco come to mind when we’re talking about higher cost of living. Even though these are some of the most expensive places to live in the US, our guest today proves that early retirement can be feasible even if you are in one of these high-rent areas.

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Roth IRA Investing in 10 Simple Steps

The magical Roth IRA … You’ve heard that you need one. Or if you have one, you’ve heard that you should be taking full advantage of it. What is so excellent about a Roth IRA?!

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Save on Taxes in 5 Easy Steps

It’s tax time!

At least it was for the Hill Family this weekend. We cranked out our taxes while the kids rode their bikes around on an unexpected 60-degree weekend. Equipped with our laptop, our nerdishly organized tax document folder and with some surprisingly cooperative kids, we finished in just under 3 hours.

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