In a perfect yet realistic world, this is how you would accumulate money

by Nicole Frankowski | Jan 24, 2018 | Budgeting, Retirement & Investing, Savings, Savings

I focus so much on financial triage, that sometimes I forget to share the basics of saving and investing. Today I want to show you exactly how you should save money for the short-term, mid-term, and the long-term. So here is the Step by Step instructions on how to...

Where your first $18,000 of long-term savings should go

by Nicole Frankowski | Nov 30, 2017 | Basics of Investing, Budgeting, Retirement & Investing, Savings, Savings

I’m making a giant assumption here. I’m assuming you are contributing, or working toward contributing, $18,000 of your income per year to your long-term financial goals. And by long term financial goals, I mean retirement. And by retirement I mean post 59 1/2 years...

Hands off your emergency fund

by Nicole Frankowski | Nov 30, 2017 | Budgeting, Savings

Dear Pete, Right now, we leverage an online savings account to earn a little interest for our emergency fund. I am conflicted on what to do with this money. Most of the time, I really don’t want to put this money in the market, because it is more a feeling of comfort...

Should you use savings to pay off debt?

by Nicole Frankowski | Nov 29, 2017 | Budgeting, Debt, How-to Pay off Debt, Savings

Hi Pete – I started a new job in Indy at the end of January 2014.  Along with the new job came a larger salary (yea).  I am excited to relocate to Indy so I can be closer to family.  I have family located here and they are allowing me the opportunity to live with them...

Should you get a Roth or a traditional retirement account

by Nicole Frankowski | Nov 29, 2017 | Basics of Investing, Budgeting, Retirement & Investing, Savings, Savings

One of the most common questions I get is, “am I saving enough?” and it’s probably one you’ve asked yourself more than once. You’ve got your 401(k), your Traditional IRA, maybe a ROTH IRA, and who knows, you might even have a non-qualified investment account. There is...

Not spending isn’t the same as saving.

by Nicole Frankowski | Nov 29, 2017 | Budgeting, Debt, Preventing Future Debt, Retirement & Investing, Savings, Savings

Saving the money you didn’t spend is often the forgotten step in the process.  Have you ever wondered why you can’t accumulate savings despite your best efforts not to spend money? If so, you’re not alone. It’s one of the most common problems I see on a regular...