Saturday, December 28, 2013

Money for Gen X

My poor little generation is so ignored...

Anyways doing some online research (yay, Google!) and found some good links to keep around.

Financial Planning for Generation X and Generation Y

Why Gen X is in trouble and what they can do about it

My Gen X financial advice to my kids

My outlook on it at the moment?  I have my Roth IRA started, I have the beginnings of my emergency fund in a .85% interest earning online savings account (it should be up to the goal amount in a few months), and yeah where do I go from here?  My kids are almost too old to really benefit from a 529 college savings account at this point but I still might consider opening those.  Or go with my current plan of we'll just muddle through their college expenses the best we can with scholarships, grants, loans, and savings.

Interest rates on savings accounts, treasury notes, bonds, and CD's suck at the moment.  I need to read more and determine my long term financial goals before I start jumping into the stock market. And I hate nickel and dime fees for someone else investing my money.  (Apparently I'm not alone, see above articles, it's a Gen X thing)   I'd like to buy a second vehicle (in cash, I'm saving now) soon so I don't want to tie up that money in something long term but it seems stupid to have over $5000 sitting around earning nothing while I determine what I want to buy.  But I figure I have a few months to learn about short term investment options while I'm earning the money I plan to save and invest.

You know, I might actually get the hang on this money thing after all...


Sunday, December 01, 2013

Being an Adult dorkiness

So with my new job, I now have these fancy awesome benefits like health insurance, a retirement plan, and get this, money!  I'm like "wow! It's so much fun being a grown-up finally!"

No, seriously, I am super excited about being able to afford renter's insurance and life insurance again (both purchased already).  I've really enjoyed researching the best online savings accounts for my emergency fund and best no fee Roth IRA's.  This is so cool!

And also, I feel better about being able to buy Christmas gifts for the kids this year.  I know they say money can't buy happiness but it can buy peace of mind. And with all the craziness of this year, my new job has lifted a huge weight off my shoulders.  Maybe being an adult isn't so bad after all.