At Bargaineering, Miranda offered her take on Proposed Retirement Cap: More People Could Be Affected Down the Road. Interesting times ahead, my bet is that this legislation isn’t going to pass. Not without some major edits to the current proposal.
Stephanie at The Empowered Dollar shared How I’ll Retire Rich After Only 3 Years of Saving. At 25, Stephanie has already saved $40,000, a nice start. By age 60, it should be worth over $300,000, not too shabby, but not quite rich. Hopefully she’ll not call it quits so soon, she’s has too many years until retirement to stop saving.
Adjustable Rate Mortgages are Not Evil, or so Brock thinks. He posted some compelling reasons at Clever Dude, and won me over. It’s important to make a distinction between the interest-only teaser rate ARM, and the normal ARM whose adjustments aren’t going to double your payment. As I commented – A $400K 1% interest-only is $333/mo. Cool, huh? Now, adjust it to 4%/30 year, and it’s $1910/mo. These are the ARMs I’d avoid at all cost.
At Financial Finesse Blog, Eric Carter asked (and answered) Does the 401(k) “Suck?” This topic has been getting a lot of press, more bad than good, lately. Eric offers a balance view, and some great reasons to stand by your 401(k).
How Well Will Your Retirement Expectations Match Reality? A great discussion at Sound Mind Investing. I learned that few than half of 55 year olds have saved more than $50,000. A bit scary, that statistic.
And we’ll wrap this week up with Fixing an IRA With the “Wrong” Beneficiary, excellent info if you inherit an IRA but felt that siblings were left out.
This week’s title? A once in a lifetime event this week. At 1:12:03 5/8/13 the click/date showed the Fibonacci series. Math geeks everywhere paused for a moment of silence.