BoringDollar

  Simple money management advice for the average working Joe. Build wealth, save more, and protect your future the boring way. Be bold, Be boring!  

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Credit Score Basics & 3 Tips to Improve it Now

Credit Score Basics & 3 Tips to Improve it Now

Everyone that applies for a loan and has their credit score checked goes through a nervous waiting period to see if that magic number is going to help or hurt them. To eliminate that anxiety, first you must understand what a credit score is and why it changes. Then I’ll walk you through actions you can take today to start your journey toward worry free credit! Before we start, consider getting in…

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How much of your paycheck you need to save to retire at 60

How much of your paycheck you need to save to retire at 60

The average american will earn $2.9 million dollars in their lifetime. You may think that’s plenty of money to live on over the course of your life, but after taxes and essentials are taken out you may find little to nothing left in your retirement account. Will you have enough retirement savings?

Many will make millions, but how much you save depends on your lifestyle

Saving for retirement…

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3 reasons why Exchange Traded Funds (ETFs) are best for lazy people

3 reasons why Exchange Traded Funds (ETFs) are best for lazy people #ETF #brokerage #diversification #risk #taxes

Let’s face it, we live in a world where we have to hustle to get ahead.  Each day seems like a blur.  We don’t even have time to brush our teeth for the recommended amount of time every day (it’s 2 minutes if you were wondering) let alone manage our finances with the attention that it deserves.  Let me help explain the benefits of ETF’s and why they are especially suited for the lazy investor.

Bo…

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Beginners guide: How to start an online brokerage account & invest in Exchange Trade Funds (ETFs)

Beginners guide: How to start an online brokerage account & invest in Exchange Trade Funds (ETFs) #ETF #brokerage #investing #research

Like all Michelin star rated restaurants — any great meal must include high quality ingredients.  Similarly, if you want to feast on delicious earnings — first you must start by creating an investment portfolio and including key ingredients like diversification, risk management, rebalancing, and simplicity.  While you may have a different time horizon for when you plan to withdraw your earnings,…

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3 things I wish I would have known before buying life insurance

3 things I wish I would have known before buying life insurance #lifeinsurance #insurance #risk #fixedterm

When my son was born the first 3 things I thought were (1) I love you (2) I’m so proud of your mother and (3) wow you’re real. The last thought altered my reality. A real person is going to depend on me until they reach adulthood! Life insurance isn’t fun to think or talk about, but it’s a necessary tool to have in your risk management tool box.

If you are responsible for other people or have…

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3 dangerous money mindset traps to avoid

3 dangerous money mindset traps to avoid #economics #income #purchasingpower #unemployment #wages #bullmarket

Be careful of financial times that feel good — because they could be too good to be true.  Although we are covered with glowing financial news everyday, you shouldn’t let that warm blanket of comfort lull you into a slumber of financial ignorance.  Just because you think you can afford it, hold off on that savory piece of avocado toast and the sexy whole life insurance policy you’ve been dreaming…

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This IRS rule change can increase your retirement savings by $150k

This IRS rule change can increase your retirement savings by $150k #RothIRA #Retirement #TaxFree #IRS #Investing

Every financial adviser will tell you that investing in a Roth IRA early on in your savings journey is the best thing you can do for your retirement.  While this is a true statement — it’s an incomplete one.  You should also optimize your returns by investing the maximum amount allowed by the IRS. The 2018 maximum Roth IRA contribution of $5500 is being increased to $6000 for 2019.

A new peak is…

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5 foolproof ways to break free from budgeting boredom

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This Black Friday Shopping Guide Will Get You More Door Buster Savings

This Black Friday Shopping Guide Will Get You More Door Buster Savings

With every passing moment, we are quickly approaching the Super Bowl of shopping — Black Friday!  Perhaps you are getting a little anxious right now just thinking about it.  We all love brawling with other shoppers over toilet paper, surviving below zero temperatures in a tent city, or knocking doors down to snatch up unbelievable deals.  What if I told you there’s a better way?  A smarter way,…

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