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Before I start today, I would just like to say THANK YOU to everyone who supports my blog. I appreciate it very very much, you’ve really helped me to become passionate about something again!
This is the third edition of ‘Chance Flavors.’ And so far it’s been wildly successful (he says jokingly).
Actually, Chance Flavors is by far the least read of all my weekly posts and I’ve been sitting here trying to think how I can change that fact or whether or not it’s worth writing a round up to begin with. It got me to thinking about the purpose of roundups in the first place.
In this post,I’m going to add ‘My Two Cents’ on avoiding cell phone early termination fees.
(Originally I had planned on covering cell termination fees, unlimited data plans and cutting your cable bill in half, but the post became prohibitively long, so I’ll break it into three shorter individual posts.)
A little background here
I wanted to get out of my cell contract because I needed the ability to respond to emails and instant message on the go, especially the many emails I’m starting to receive here. The phone I have makes that very difficult, so much so, that I haven’t even bothered to get a data plan.
Just last week I added the ‘My Two Cents’ category to my blog, along with the image of those shiny pennies that you now see above my picture to the right.
And I thought this would be a great way for me to express my opinions on the most interesting personal finance articles I come across from around the web. I Stumble so many posts each week, it should be pretty easy to pick one and add My Two Cents, right?
When I first started writing this blog in no way did I have the word frugal on my brain.
I knew what the word meant, but it wasn’t until I became a part of the PF (personal finance) blogging world that I really started to appreciate and understand the significance of this simple word.
“Some of the main strategies of frugality are the reduction of waste, changing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing free (as in gratis) options…”
A deeper meaning
I think that definition is pretty accurate. I also think it’s kind of ironic how I used to attach a negative connotation to that word (which I think most of the general public still does) and how I now look at it in a completely new light.
I think there’s a misconception that once you hit 60 (and beyond) it’s time to kick back, put your feet up, grab a beer and relax. That’s not always the case.
For most people, their 60’s are a time where they experience a tremendous amount of change which takes some getting used to.
At this point in their lives, most Americans are nearing full retirement age after having worked the majority of their adult lives. Many of the daily routines that they’ve grown accustom to are about to change, big time.
Out with the old, in with the new
Their kids are probably all grown up and out of the house, the mortgage is paid off (or nearly paid off) and pretty soon you won’t have to crawl out of bed, slap the alarm clock and head off to work any longer.
Yes my friend, it’s time to start preparing to cross over and make the leap from pre-retirement to bonified retiree. If you’ve planned for retirement most of your working life, then transitioning into retirement starting in your 60’s should be relatively smooth.
Every week I’m becoming more and more comfortable in my blogging skin.
Each day I’m becoming more and more comfortable with the responsibility that goes along with writing this blog. And trust me it’s a responsibility, but one I am more than happy to accept.
This blog is now officially my baby! And like having a baby there comes a few little side effects…
Most nights I go to bed with email requests, post titles and blogging ideas swimming through my head, often waking up in the middle of the night. But I’m learning to deal with the sensory overload and I realize it can only get better as time goes by. (I hope;)
I’m here to help
One of the blogging responsibilities, that I hadn’t thought of early on, is reading and answering email. For me, it certainly sets me back (time wise) but it’s also what I enjoy doing most; it makes me feel good to know visitors are getting something out of Chance Favors and that I can genuinely help them.
The day has finally arrived. My first roundup of ‘cracking good’ articles that I enjoyed from other personal finance sites around the web.
Going forward I commit to publishing my favorite posts each Saturday. To borrow from the US Postal Service’s motto, “neither snow, nor rain, nor gloom of night will keep me from the swift completion of my appointed rounds…”
What do you think of the title? I was just sitting here thinking, ‘what am I going to name this?’ and like a lightening bolt it came to me.
We shall see if the name survives, I will wait for feedback from others.
Strength in numbers
Over the past month, I have become a big fan of many of the blogs that make up the M-Network. Originally I wrote a review of Moolanomy (back in November) and through Pinyo’s site I came to know many of the M-Network sites that now dominate my blogroll.
I’m still acquainting myself with the nuances of each blog, but from what I can tell, the network provides thought-provoking, practical ideas that come from the unique experiences of each member.
I promise you there is something for everyone there, and we can all apply some of these helpful tips to our everyday lives.
Every time I’m on the internet or watching TV I hear much of the same investment rhetoric over and over and over.
I’ve written about this kind of thing in the past, in a post titled CNBC and Me. Well, in this post I’d like to peek into the retirement arena, where the needle seems to be stuck on repeat; specifically the Roth vs Traditional IRA debate.
When it comes to IRA planning, commentators are always delivering the same soggy, watered down message, often speaking out of both sides of their mouth. Here’s a good example of something you might hear…
‘When it comes to picking an IRA, sometimes investing in a Roth IRA makes the most sense, and sometimes investing in a traditional IRA makes the most sense.’
Want some visual evidence? Please take a minute to watch the above video produced by Vanguard and you’ll see what I’m talking about.
I firmly believe most GenXer’s should make theRoth IRA the cornerstone of their future retirement plans.
In my opinion, over the next 10-15 years the Roth IRA and Roth 401(k) will quickly become the backbone for retirement planning in this country.
For Americans under the age of 45 you should put the wheels in motion to incorporate the Roth IRA into your plans ASAP; and for those over the age of 45, I strongly recommend taking a close look at how adding (or converting to) a Roth IRA may add a whole new dimension to your future plans.
(I’ll probably spend the next few days writing about the Roth IRA. While writing this piece, I experienced a surge of new ideas that inspired me to scribble down an abundance of Roth related post ideas that, undoubtedly, will beef up that section of my tag cloud. Happiness is…)
Hold on a moment while I wipe the cobwebs off of from my computer keyboard, it’s been a while since I sat down to write a post. I hope you haven’t forgotten about me;)
Well it feels good to be back…
I would like to start off by wishing everyone a belated Happy New Year and all the best for 2008! I know I have high expectations for the new year and for this blog and hope you’ve set your own personal goals and resolutions, as well.
Best Laid Plans of Mice and Men
If you’ve read my About Me page you may have noticed that I said I was planning a trip to South America sometime late in 2007, well sadly those plans were scrapped (for the time being).
Ciaran McKeever is a CERTIFIED FINANCIAL PLANNER™ professional.
Chance Favors hopes to educate, encourage and empower those in their 30's and 40's to achieve financial independence. There's a heavy focus on all things Roth IRA and 401k, with special attention given to the upcoming 2010 Roth conversion event.
Get 'my two cents' on new finance articles from around the web by clicking on the two pennies above my head
Before I start today, I would just like to say THANK YOU to everyone who supports my blog. I appreciate it very very much, you’ve really helped me to become passionate about something again!
In this post, I’m going to add ‘My Two Cents’ on avoiding cell phone early termination fees.
Just last week I added the ‘My Two Cents’ category to my blog, along with the image of those shiny pennies that you now see above my picture to the right.
When I first started writing this blog in no way did I have the word frugal on my brain.
I think there’s a misconception that once you hit 60 (and beyond) it’s time to kick back, put your feet up, grab a beer and relax. That’s not always the case.
Every week I’m becoming more and more comfortable in my blogging skin.
The day has finally arrived. My first roundup of ‘cracking good’ articles that I enjoyed from other personal finance sites around the web.
I firmly believe most GenXer’s should make the Roth IRA the cornerstone of their future retirement plans.
Hold on a moment while I wipe the cobwebs off of from my computer keyboard, it’s been a while since I sat down to write a post. I hope you haven’t forgotten about me;)
