Paper Chase - Savings Bonds & Redeeming

Marjorie Kondrack  |  Feb 8, 2023

I BEGAN BUYING Series I savings bonds in 1999. At the time, you could purchase them at a local bank and receive paper bonds. Amid 2022’s spike in inflation, those early bonds that I bought were—for a six-month stretch last year—yielding an annualized 13.08%. Not bad for a low-risk investment.

One drawback to buying savings bonds: the limit on how much a person can purchase each year. When I began buying Series I savings bonds, the maximum was $30,000 per person per year. The current annual limit on I bond purchases is now $10,000 per person, plus $5,000 more if you buy I bonds using a tax refund.

How to Store Time

By  Financial Imaginer

This is the first post of a series called “financial excursions” where we will explore how to understand the world better while learning about money and your life. In my view, “financial excursions” are the best way to teach your kids about money. This summer we took our kids for a trip to see one of the largest dams with hydroelectric plant in Switzerland.

We marveled at the large wall, enjoyed the views from its top, learned about its functions and of course I grabbed the opportunity to explain how building a dam is similar to capturing your income streams and save money and therefore time for later usage in life.

Let’s explore our discoveries together.

House in Order

Michael Flack  Humble Dollar  Feb 6, 2023

“I WOULD SAY TO the House, as I said to those who have joined this government: I have nothing to offer but blood, toil, tears and sweat. We have before us an ordeal of the most grievous kind. We have before us many, many long months of struggle and of suffering…. You ask, what is our aim? I can answer in one word: victory. Victory at all costs—victory in spite of all terror—victory, however long and hard the road may be, for without victory there is no survival.”

What Winston Churchill said to his House during Great Britain’s darkest hour, I would say about selling yours. Selling a house shouldn’t be easy. If you sold one and it was, you didn’t do it right.

Find Financial Freedom: 5 Simple Tips for a Stress-Free Life

February 6, 2023  Financial Pilgrimage

Reducing financial stress in your life is easier said than done. Even if you have the best intentions, it can be challenging to make progress. Fortunately, making progress is possible and probable when you have the right tips to guide you.

There’s no one size fits all solution to reducing financial stress in your life. Instead, your approach depends mainly on your financial circumstances, such as how much money you have saved, your monthly expenses, and your short and long-term goals.

Here's How Much Money You Need For Bankers To Think You're Rich

Suzanne Woolley, Bloomberg News

Just how rich is “rich?”

The answer, of course, depends on who’s asking—and these days, many are.

In rich-tropolises such as New York and London, 1 per centers moan that living on US$500,000 a year feels Dickensian. With a pot of US$40 million—and private schools, a Hamptons retreat, a horse and a charity to feed—a hedge funder on the Showtime drama “Billions” exclaims: “F---! I’m broke!”

Here, then, is a real answer, courtesy of the hush-hush world of private banking: US$25 million.

Twenty-five million dollars in investable wealth. The kind of money you could afford to see dip into the red for a quarter or three, maybe even a year or two, without breaking a sweat. With US$25 million, maybe, just maybe, you're starting to be rich.

How the Principles of Fitness Apply to Personal Finance

January 25, 2023  Financial Pilgrimage

What do physical fitness and personal finance have in common? On the surface, there are a lot of differences between your fitness program and financial wellness. One involves income, spending, saving, and investing. The other involves physical activity, nutrition, and overall health. The reality is that financial fitness (and just fitness) are some of the most critical areas of our lives. It’s no coincidence that there are striking similarities between fitness and finance once you start digging in.

Do I Need a Living Trust Lawyer?

Geoff Williams   Thu, February 2, 2023

If you plan to create a living trust or already have one, you may wonder if you need a living trust lawyer. The short answer is that you don't. But just because you don't technically need an attorney to put together your trust doesn't mean you shouldn't hire one. Living trusts can be complicated and if you worry about your own ability to create a trust, you may want to hire a living trust lawyer who you can consult with. Living trust lawyers can help your trustee distribute assets after your death, keep your information private and avoid probate. You may also want to work with a financial advisor who can help you create the right estate plan.