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Hi all, I'm L, 38 years old/male/married/no kid. 2014 is going to be a good year and I'm sure many people have a list of resolution(s) to begin with. For me, I have many goals that I want to achieve this year. One of my biggest goals is to start a blog to talk about personal finance (PF) subject. I will also share with you about other important goals in my life through out this blog. Here is the story why I want to do this.
My wife and I love going to bookstore, or coffee shop (Starbucks is our favorite one). The ambient of a bookstore sitting allows us to gather thoughts. We sat down, share our joy/struggle of life and different topics. One of the topics I usually discuss with her is personal finance. My wife is a person who grew up with not much of financial IQ. She loves shopping and would buy things to reward herself (aka "retail therapy.") She was fine with buying things that are not necessary as long as she didn't overspend. After we got married, I transfer a lot of PF knowledge and educate her to watch her spending. She is now aware of the importance of financial planning, cash flow, and "buying asset."
In one recent visit to the bookstore, I shared my favorite topic with her (as usual, hehe.) Then, she told me that she has learned a lot from me. It would be awesome if I share my insight to other people. So that, other people can benefit what I've learn as well. Also, my PF insight will be changed in my different stage of life. It is good to capture my thought right now. Then, in 10/20/30 year from now, it will be interesting to read my post again. Maybe I will laugh at myself why I said it before. You never know. As a matter of fact, my mind is vague when I was fresh out of college, which is 15 years ago. Maybe I would think hard to try to capture it in my blog as well.
Right now, I'm trying to gather a list of topics first. Here are some topics in my mind.
- Should I put $$ into traditional IRA or ROTH IRA?
- Most people focus on salary increase, but, they are unaware of on increase their net worth?
- There are 2 ways to increase their net worth. Increase this income or reduce the expense.
- How much do you feel your annual salary is enough for your life?
- There are 2 type of items that people buy? Asset/Liability
- During the 2008 financial crash, many banks were doing a stress test. Have you done a stress test on your personal family household?
- "Out of sight, out of mind". Same thing apply to family budget.
- Different ways to keep track on family budget.
- What is your current priority of your money?
- Do you believe that you will be millionaire when you retire.
- Money. Itself is a neutral vechicle. But, it is #1 killer for family/relationship.
- How many bank accounts do you family have? 1 or 3?
- Life Insurance. Term Life vs Permanent
- Advantage for putting ROTH IRA for your kid
- What is the order for putting your $$?
- What is your way of bookkeeping?
- People First, Money Second
- What is your focus? Amount or Percentage
I know the list is long, but I am going to tackle each topic one by one, stay tune! :)
My wife and I love going to bookstore, or coffee shop (Starbucks is our favorite one). The ambient of a bookstore sitting allows us to gather thoughts. We sat down, share our joy/struggle of life and different topics. One of the topics I usually discuss with her is personal finance. My wife is a person who grew up with not much of financial IQ. She loves shopping and would buy things to reward herself (aka "retail therapy.") She was fine with buying things that are not necessary as long as she didn't overspend. After we got married, I transfer a lot of PF knowledge and educate her to watch her spending. She is now aware of the importance of financial planning, cash flow, and "buying asset."
In one recent visit to the bookstore, I shared my favorite topic with her (as usual, hehe.) Then, she told me that she has learned a lot from me. It would be awesome if I share my insight to other people. So that, other people can benefit what I've learn as well. Also, my PF insight will be changed in my different stage of life. It is good to capture my thought right now. Then, in 10/20/30 year from now, it will be interesting to read my post again. Maybe I will laugh at myself why I said it before. You never know. As a matter of fact, my mind is vague when I was fresh out of college, which is 15 years ago. Maybe I would think hard to try to capture it in my blog as well.
Right now, I'm trying to gather a list of topics first. Here are some topics in my mind.
- Should I put $$ into traditional IRA or ROTH IRA?
- Most people focus on salary increase, but, they are unaware of on increase their net worth?
- There are 2 ways to increase their net worth. Increase this income or reduce the expense.
- How much do you feel your annual salary is enough for your life?
- There are 2 type of items that people buy? Asset/Liability
- During the 2008 financial crash, many banks were doing a stress test. Have you done a stress test on your personal family household?
- "Out of sight, out of mind". Same thing apply to family budget.
- Different ways to keep track on family budget.
- What is your current priority of your money?
- Do you believe that you will be millionaire when you retire.
- Money. Itself is a neutral vechicle. But, it is #1 killer for family/relationship.
- How many bank accounts do you family have? 1 or 3?
- Life Insurance. Term Life vs Permanent
- Advantage for putting ROTH IRA for your kid
- What is the order for putting your $$?
- What is your way of bookkeeping?
- People First, Money Second
- What is your focus? Amount or Percentage
I know the list is long, but I am going to tackle each topic one by one, stay tune! :)