Welcome to this weeks edition on the Friday Night Highlights, where I scour the personal finance blogging world to bring you interesting articles you may have missed.
Did you miss Volume 7 of the Friday Night Highlights? Volume 7 was one of my favorites. If you missed out click here to catch up.
This week we have three articles that I brought together for your reading pleasure; one controversial, one practical and one article that asks “where the F did all my money go?
- Dr. Corey Fawcett tells us why we need to stop contributing to our retirement account.
- Gary from Super Saving Tips tries to answer the question, Where the F did all my money go?
- Matt from The RN Mentor gives us the step by step to get a fast pass into the middle class.
Stop Putting Money In Your Retirement Plans by Dr. Corey Fawcett
The title of this article caught my eye this week, as most surely it was intended to do. Stop putting money in your retirement account, WTF! That is pure blasphemy.
The premise that Dr. Fawcett makes is, once you have enough savings to comfortably retire, you should increase your current quality of life. Okay, that makes sense, right?
Here’s the problem. According to Fidelity, the average 401(k) balance in America is $106,500 as of October 2018, which by the way, is a new record high. Using the US median household income of $50,500, that handsome sum of a 401(k) balance would last a whopping two years. Oh Uh! So to say most Americans don’t have enough is an understatement!
Have you ever read an article and realized you are not the target audience. In this case, the target audience was surely very high-income earners. Unless you are Kanye West, the top 1% have a mile wide gap between their income and spending. They have the financial power to save too much, but sadly most workers in America don’t. So go check out Dr. Fawcett’s article and see what you think. Are you saving too much? You be the judge. Read more→
Where The F Did All My Money Go by Super Saving Tips
Seriously! I think this all the time. Where the F did all my money go? The big expenses are easy to recall, mortgage, vehicle, vacations. It is the accumulation of the small purchases that really eat away at your money. Ironically, it is these small purchases that most easily escape my memory. I suppose it is the same reason I can’t remember what I received for Christmas last year.
Gary from Super Saving Tips sits down one rainy Wednesday and calculates his lifetime spending for us. He realizes that even if you thought it was a necessity it probably wasn’t. All is not lost though, because Gary has a few super saving tips for you to help you protect your money, so you don’t have to ask where did my money go. Read more →
The Nursing Shortage: A Fast Pass To The Middle Class by The RN Mentor
I can’t tell you how many times I’ve been asked, “How many years of college does it take to become a nurse?” Most people are shocked to learn that a 2 year Associate Degree is all that is required to sit for a nursing licensure exam (NCLEX).
Matt, from RN Mentor, provides all the practical details for you to get a fast pass into the middle class. Health care and nursing, in particular, are in high demand but don’t spend money on more education than you need. The RN Mentor will guide you through the steps to get into the nursing field while getting that degree by the most frugal means possible.
If you aspire to be a nurse or have a family member that is thinking about a nursing career, you need to read this article. You may be wasting your money on a bachelors degree when you can get someone else to pay for it. Read more →
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Thank you for checking out this edition of Friday Night Highlights. Come back Tuesday for my next blog post, my November wrap-up.