What went on this week? A lot, as you can see!
Articles I Liked
The Sun’s Financial Diary’s net worth just hit the half million dollar mark! And the most amazing thing is that he did it in a record “less than 7 years”. He’s one of the bloggers with a strong investment emphasis that I follow quite regularly. Kudos to Sun for his achievement! In the meantime, we can set ourselves up for similar success by keeping in mind some advice from Consumerism Commentary: here’s 7 Ways To Kill Your Net Worth, which you should avoid.
Binary Dollar is holding a sound off with Open Mic: Would You Go To Prison For One Year For $100 Million Dollars? It’s gotten over 40 responses so far including my own. What did I say? Hint: one year flies by quickly and $100 million is a LOT of money. Still, I should probably think twice before making a solid commitment.
Gen X Finance has 24 Signs That You Could be in Financial Trouble #24: Ignoring the Signs. The advice here is to avoid being in denial as things could just get worse.
Lazy Man and Money shares a challenge with Top Ten Ways Personal Finance Blogging has Helped Me. Inspired by this post, Money Smart Life follows up with Why You Should Become A Personal Finance Blogger.
Five Cent Nickel wonders How Do You Keep Track Of Receipts? I try to put them in a folder which I file somewhere if they’re important, while I shred the unimportant ones. Is that good enough?
Free Money Finance tells how careful he is in this story: Identity Theft/Stolen Credit Card in the Middle Of An Airport. Would you react the same way he did? I’m just like he is, where paranoia for certain things becomes second nature.
Blueprint for Financial Prosperity has a guest post by AskDong.com that caught my eye: Do Guys and Girls Invest Differently? In general, there are variances with women trailing men in surveys that inquired about people’s investing habits, but it’s not as big a gap as I expected it would be (which I say, as a female). And that’s a good thing.
Mighty Bargain Hunter asks Is Having An Extra Car Worth It? For my own family, my answer is a resounding NO. However you may reevaluate this if you have several adults or drivers in your household.
All Financial Matters ponders why Young People All But Ignore Planning for Retirement, and makes some interesting suggestions on how to remedy this issue.
Money Question
This week’s money question asks What Do You Look For In An Online Bank Account? Answers were taken from various bloggers including myself, so please check it out at Binary Dollar!
Last Week’s Carnivals
About The Carnival of Personal Finance
- Stock trades: Free stock trades from Zecco, Cheap stock trades from TradeKing, Stock news and Investment info at INO TV Free, No cost Trend Analysis for stocks
- Earn top returns: FNBO Direct [1.90%], HSBC Direct [1.65%], WTDirect [1.76%], E*Trade Bank [0.95%], ING Direct [.25% to 1.65%]
- Cash bonus: Discover More [$50], American Express [$25], Lending Club [$25]
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Can you ever become a millionaire on a minimum wage income?
Minimum Wage,
That’s a tough one but not entirely impossible, especially if there’s a chance of improving one’s earnings as time goes on. I’ll try to address this question in depth sometime.
Is $50 a month in a TSA on top of State Teacher’s Retirement System’s standard contribution on a 60K/yr salary gonna be enough?
I already know your answer . . . so thanks for the list so I can try and make a million some other way
Thanks for the mention!
Some people say you can be a millionaire in 20 or 30 years just by saving $5 every week. Heard this from somewhere I don’t remember. But do you think it is true? Just to let you know that this software http://www.parcusgroup.com/index.html does financial planning and a lot more for those who are interested. Think about the saving.
@ Minimum Wage
there are people that became Millionaries after making a low wage. They went on to college and graduated, starting making an above average salary and began to invest their money and acquire businesses, car washes etc. And they became millionaires.
It is possible. It takes patience, disciple and hard work
Moneymonk,
I’ve already gone to college and graduated into a locally depressed economy with a degree that was useless when I couldn’t afford to go on to law school.
Not only did I not get the above average salary, I got student loan debt that hangs around my neck like an albatross.
@Minimum Wage:
Sounds like it’s time for you to get creative. How about hopping a bus to a new place and getting a fresh start?
Can’t do it? Well sit down and figure out a different way to make your situation better.
Did that. Now I have no marketable skills, no career-related experience, and I think my age combined with the above have rendered me unemployable.