This pending recession has thrown our happy family schedule all out of whack.
- School: Our kid’s school is closed for the next 3 weeks. It’s looking likely that might extend at least 8 weeks and maybe through the rest of the school year.
- Work: Our President recommends against gatherings of 10 or more so Nicole will more than likely be joining me as we work from home with kids.
- Money: Although it probably wasn’t smart, I tracked our net worth losses over the past month and we’re down by at least $100,000 (and that is before the crazy stock market activity this week).
I’m sure our situation pales in comparison to other families who may soon be out of work. That’s going to affect a lot of families, small businesses and our country’s economy.
As we figure out what’s next, I wanted to share 5 things our family is doing to deal with the Coronavirus (COVID-19) season. I hope it helps you as you’re planning for your family.
Continue reading “Preparing for a Recession: Our Family’s 5 Step Financial Plan”
Our first question of the month comes in from Nick from Tampa who responded to a blog post I wrote about paying off our mortgage (here’s the article):
I love this blog post. As a former Dave Ramsey groupie myself, I’m really excited for y’all!
Would love to hear about your perspective one year later. I’m curious where you’re at with this? Have you followed through on your plans to allocate your savings like you say at the end of the post?
Have you invested in other opportunities?
How have the vacations gone?
Do you regret paying the mortgage off or do you still feel it was a smart decision?
From, Nick from Teach My Kids Money
Continue reading “With no mortgage, what do you do with the extra money?”
Every time we contribute to stock mutual funds in our 401k or IRA, we’re investing in a little slice of the companies that are included that fund. These can be tech companies like Apple or Microsoft or automotive juggernauts like General Motors or Ford. With each retirement contribution you make, you’re essentially becoming a minority shareholder in these businesses.
But what if you don’t agree with the way things are being handled at one of these companies?
- Perhaps you care about a cleaner and greener future and one of the companies you’re investing in is a huge polluter.
- Or maybe you’re appalled by the way factory employees are being treated globally at one of your businesses.
- Possibly there is evidence of racial or gender discrimination happening within the four walls of a company you own a piece of.
- How can we invest for our family’s future and get the returns required to retire comfortably while still following our hearts?
Welcome to the world of Ethical Investing!
Continue reading “Ethical Investing – When Doing Well and Doing Good Meet”
Have you ever encouraged someone to do something positive in their lives for a long time and then FINALLY they do it? This happened to me recently and I could not be happier with the result.
Last month, I checked Facebook and discovered this message from my sister:
“Look what I found when I opened up the family computer this morning! :-O Thank you so much for having such a positive influence on my 18-year old!“
Continue reading “When An 18-Year Old Learns How to Become a Millionaire”