Nov 01

This week, I challenged myself to read PF blogs I hadn’t posted about before, finding some new (to me) talent.

Go To Retirement wrote Calculating a Retirement Income Replacement Ratio in which My GoTo makes a great case that the 70-80% rule of thumb is not accurate, and needs serious rethinking. He describes why the rate is higher for lower income people but drops below that 70% at higher incomes.

Ron at the Wisdom Journal asks if there’s No Such Thing As Good Debt? Given the current state of the economy and insecurity regarding jobs, I understand and respect the anti-debt movement. This post offered another analysis leading to that conclusion.

Richer by the Day offers a book review of one my favorite personal finance authors, Dr Thomas Stanley. His latest installment in his Millionaire series is titled Stop Acting Rich And Start Living Like a Real Millionaire. Mike’s summary is enough to make anyone want to read the book in full, and understand its lesson, that the habits associated with being rich are the same habits most rich people avoid. The fancy cars, premium brands etc, all are habits that keep us from accumulating real wealth.

Another candidate for my List of Lists is 23 Things Beginners Absolutely Must Know About Saving for Retirement. David at Money Under 30 goes through the Topics of Retirement Saving Basics, Matching and Vesting, Rollovers and Withdrawals, and Choosing Your Investments with 23 tidbits of advice in all. An excellent post to bookmark for a repeat visit.

No Credit Needed posts How A Silly Little Experiment Helped Me Get Out Of Debt, offering his story of how a daily extra $5 paid to his credit card got him moving to eliminate his debt. Whatever works for you is what you should do. Over the years I’ve become more open to any ‘out of the box’ ideas that help people get ahead on their debt repayment or savings goals.

Last, a frugal post from Steadfast Finance, Restaurant Meals You Can Make at Home For Half the Price, recipes include Chicken Parmesan, Sweet Potato Salad, Roast Pork Tenderloin, and Southern Louisiana style Jambalaya. Nothing like eating well at home and saving some bucks.

Have a great week.

Joe

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