Comments on: Are You Spending Too Much Time On Personal Finance? http://personalfinance.askmrcreditcard.com/are-you-spending-too-much-time-on-personal-finance/ Latest Credit Card News, Reviews and Information Mon, 14 May 2012 04:39:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Linda Logan http://personalfinance.askmrcreditcard.com/are-you-spending-too-much-time-on-personal-finance/comment-page-1/#comment-25750 Linda Logan Tue, 10 Jul 2007 14:03:13 +0000 http://askmrcreditcard.com/creditcardblog/are-you-spending-too-much-time-on-personal-finance/#comment-25750 Yes, I do spend a lot of time on Personal Finance. By the time I watch the half-hour Nightly Business Report (PBS) every day, plus read the Investor's Business Daily newspaper, check my investment-related Google Alerts, read Money, Smart Money, and Kiplinger's magazines, research stocks, mutual funds, and ETF's, monitor my portfolio, do my own trading, and organize all paperwork, I probably spend 2-3 hrs or more a day on it. It's my hobby and my passion and I love it. And the rewards have been great. I spent about 15 years in the work force after the kids were older and then retired 7 years ago at age 52. My husband has been semi-retired for the last 6 years, since he was 54. Neither of us have college degrees, nor have we ever had big incomes. We've paid for our own health insurance for the last 12 years. We've never had the opportunity, convenience, and tax benefits of being able to save in a 401k because our employers never offered one. And if your retirement choices are limited to an IRA or a ROTH with their very low contribution limits, you've got to push it to get the best return possible. And I don't trust a financial advisor to be as concerned about our comfortable retirement as I am. But I'm a gifted saver and have taught myself to be a successful investor. The time spent on our Personal Finances is now paying off in free-time for both of us. Plus, it's much more fun than golf. Yes, I do spend a lot of time on Personal Finance. By the time I watch the half-hour Nightly Business Report (PBS) every day, plus read the Investor’s Business Daily newspaper, check my investment-related Google Alerts, read Money, Smart Money, and Kiplinger’s magazines, research stocks, mutual funds, and ETF’s, monitor my portfolio, do my own trading, and organize all paperwork, I probably spend 2-3 hrs or more a day on it. It’s my hobby and my passion and I love it. And the rewards have been great.

I spent about 15 years in the work force after the kids were older and then retired 7 years ago at age 52. My husband has been semi-retired for the last 6 years, since he was 54. Neither of us have college degrees, nor have we ever had big incomes. We’ve paid for our own health insurance for the last 12 years. We’ve never had the opportunity, convenience, and tax benefits of being able to save in a 401k because our employers never offered one. And if your retirement choices are limited to an IRA or a ROTH with their very low contribution limits, you’ve got to push it to get the best return possible. And I don’t trust a financial advisor to be as concerned about our comfortable retirement as I am. But I’m a gifted saver and have taught myself to be a successful investor.

The time spent on our Personal Finances is now paying off in free-time for both of us. Plus, it’s much more fun than golf.

]]> By: thinkliketherich http://personalfinance.askmrcreditcard.com/are-you-spending-too-much-time-on-personal-finance/comment-page-1/#comment-25675 thinkliketherich Mon, 09 Jul 2007 19:24:29 +0000 http://askmrcreditcard.com/creditcardblog/are-you-spending-too-much-time-on-personal-finance/#comment-25675 good comments, i spend alot of time reading and educating myself. good suggestions with the auto rebalancer portfolio, i have been meaning to explore that, i'm also very interested in learning about microsoft money, but again havnt gotten to it yet. good comments, i spend alot of time reading and educating myself. good suggestions with the auto rebalancer portfolio, i have been meaning to explore that, i’m also very interested in learning about microsoft money, but again havnt gotten to it yet.

]]> By: story http://personalfinance.askmrcreditcard.com/are-you-spending-too-much-time-on-personal-finance/comment-page-1/#comment-25673 story Mon, 09 Jul 2007 19:22:11 +0000 http://askmrcreditcard.com/creditcardblog/are-you-spending-too-much-time-on-personal-finance/#comment-25673 This is a great question and one I have been thinking about lately. There are frugal things I do for reasons other than money (like making my own non-toxic cleaners and hanging some of my laundry), but there are also things I do just for the money that pay less than $5 an hour. Also, I spend a lot of time mindlessly reading a lot of money saving tip websites, hoping to find maybe one or two new tips. When I consider how much time I spend rooting out that $5 tip, even if it takes almost no time to actually enact, it's still a pretty big time waster. This is a great question and one I have been thinking about lately. There are frugal things I do for reasons other than money (like making my own non-toxic cleaners and hanging some of my laundry), but there are also things I do just for the money that pay less than $5 an hour.

Also, I spend a lot of time mindlessly reading a lot of money saving tip websites, hoping to find maybe one or two new tips. When I consider how much time I spend rooting out that $5 tip, even if it takes almost no time to actually enact, it’s still a pretty big time waster.

]]> By: Millionaire Mommy Next Door http://personalfinance.askmrcreditcard.com/are-you-spending-too-much-time-on-personal-finance/comment-page-1/#comment-25661 Millionaire Mommy Next Door Mon, 09 Jul 2007 17:23:38 +0000 http://askmrcreditcard.com/creditcardblog/are-you-spending-too-much-time-on-personal-finance/#comment-25661 Great questions. Personally, I spent a couple of years, in my early 30's, learning about personal finance. I read, a lot. I asked questions. I experimented. And I did most of it myself. Today I choose to do just the parts that interest me (read, web surf, offer advice). I automate most of my day-to-day finances (MS Money software with auto bank downloads, auto bill payments, etc). And I hire people to do the rest (data entry, filing, tracking expenses, tax forms and returns, etc). I make the most money now through investing, so I remind myself to make that my #1 priority. But I've automated my investing in such a way that even this activity takes me minimal time (about 2 hours a month). ~Millionaire Mommy Next Door Great questions. Personally, I spent a couple of years, in my early 30′s, learning about personal finance. I read, a lot. I asked questions. I experimented. And I did most of it myself.

Today I choose to do just the parts that interest me (read, web surf, offer advice). I automate most of my day-to-day finances (MS Money software with auto bank downloads, auto bill payments, etc). And I hire people to do the rest (data entry, filing, tracking expenses, tax forms and returns, etc).

I make the most money now through investing, so I remind myself to make that my #1 priority. But I’ve automated my investing in such a way that even this activity takes me minimal time (about 2 hours a month).
~Millionaire Mommy Next Door

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