Prosperity Trek by Prosperity Concierge » Side Trips to Save out of Earnings http://prosperityconcierge.com/trek The trek to prosperity, step by step. Improve cash flow, build net worth, enjoy life and give back. To earn, spend, save and invest for happiness and fulfillment. Sun, 21 Aug 2011 21:20:25 +0000 http://wordpress.org/ en hourly 1 Pay Yourself First with Easy Dollar-Cost Averaging http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/pay-easy-dollarcost-averaging/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/pay-easy-dollarcost-averaging/#comments Mon, 04 Jul 2011 23:16:27 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=10977 Saving and investing isn’t hard, but to make it easy you need to treat it like a bill. When your paycheck comes in each month, you pay your bills, right? So treat investing like a bill. If you want to max out your Roth IRA, divide the maximum contribution by 12 and send that amount

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/pay-easy-dollarcost-averaging/feed/ 0 If You Have Money You Don’t Have to Worry About It – Save and Be Happy http://prosperityconcierge.com/trek/prosperity/money-worry-save-happy/ http://prosperityconcierge.com/trek/prosperity/money-worry-save-happy/#comments Sun, 15 Aug 2010 14:35:55 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=10139 There are plenty of rich people who constantly worry about money. But, in general, if you save diligently you are going to get to a point where financial worries are relatively rare – you can be financially happy, instead.

The feeling of being financially happy isn’t just for the wealthy. If you live beneath your means

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]]> http://prosperityconcierge.com/trek/prosperity/money-worry-save-happy/feed/ 0 Take Control of Your Saving and Asset Allocation to Reduce Your Risk http://prosperityconcierge.com/trek/trek-how-to/building-how-to/asset-allocation-how-to/control-saving-asset-allocation-reduce-risk/ http://prosperityconcierge.com/trek/trek-how-to/building-how-to/asset-allocation-how-to/control-saving-asset-allocation-reduce-risk/#comments Mon, 09 Aug 2010 01:25:33 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=10010 Your investing goal should be to invest with the understanding that while the growth potential of your nest egg may be out of your control, there are steps you can take to come as close as possible to realizing whatever that potential is.

Taking Control

You need to work really hard on the controllable factors, starting with an aggressive savings

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]]> http://prosperityconcierge.com/trek/trek-how-to/building-how-to/asset-allocation-how-to/control-saving-asset-allocation-reduce-risk/feed/ 0 Steps to Protect Your Cash Flow http://prosperityconcierge.com/trek/prosperity/cash-flow/steps-protect-cash-flow/ http://prosperityconcierge.com/trek/prosperity/cash-flow/steps-protect-cash-flow/#comments Tue, 29 Jun 2010 13:24:32 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=9680 Here are some steps you can take to protect your cash flow during tough times. It may be a job loss, or large and unexpected medical bills. Whatever the cause, it threatens your income stream or raises your expenses. You’ll need to take drastic measures to restore your cash flow as much as possible.

Eliminate Nonessential Spending

One

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]]> http://prosperityconcierge.com/trek/prosperity/cash-flow/steps-protect-cash-flow/feed/ 1 Health Savings Accounts – How to Compare http://prosperityconcierge.com/trek/trek-how-to/spending-how-to/health-care-costs-how-to/health-savings-accounts-compare/ http://prosperityconcierge.com/trek/trek-how-to/spending-how-to/health-care-costs-how-to/health-savings-accounts-compare/#comments Wed, 16 Jun 2010 12:28:00 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=9487 A health savings account, or HSA, is exactly what the name implies: a financial account that can be used to save money for future medical expenses. These accounts, combined with a high-deductible health insurance plan, also offer certain income tax breaks that make them even more attractive.

But which health savings account offers the best deal?

The

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]]> http://prosperityconcierge.com/trek/trek-how-to/spending-how-to/health-care-costs-how-to/health-savings-accounts-compare/feed/ 0 Tax Strategies for Saving and Investing http://prosperityconcierge.com/trek/trek-how-to/building-how-to/investment-vehicles-how-to/tax-strategies-saving-investing/ http://prosperityconcierge.com/trek/trek-how-to/building-how-to/investment-vehicles-how-to/tax-strategies-saving-investing/#comments Mon, 22 Mar 2010 18:00:32 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=8375 There are tax-advantaged ways to save and invest. Here’s how:

1. Create an investment strategy

Instead of basing a tax strategy on something you can’t control, such as future  tax policy, consider building an investing plan around your current tax rate and your general expectations of future marginal tax rates (combined federal, state, and local income rates), particularly

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]]> http://prosperityconcierge.com/trek/trek-how-to/building-how-to/investment-vehicles-how-to/tax-strategies-saving-investing/feed/ 0 Establish your Savings Priorities – Your Savings Hierarchy http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/establish-savings-priorities-savings-hierarchy/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/establish-savings-priorities-savings-hierarchy/#comments Tue, 16 Mar 2010 17:27:11 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=8260 There are loans to pay for a house, a car, or college tuition, but there are aren’t many ways to fund your retirement without saving. That’s why we believe that saving for retirement should generally be the top priority for Americans under 65. But even before that, we suggest setting aside three to six months of expenses

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/establish-savings-priorities-savings-hierarchy/feed/ 0 Investing Regularly – Dollar Cost Averaging http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/investing-regularly-dollar-cost-averaging/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/investing-regularly-dollar-cost-averaging/#comments Fri, 23 Oct 2009 18:05:00 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=6343 Investing regularly can help lower the average cost of your purchases.

Investing a certain amount of money each month or quarter helps ensure you won’t pay for all your shares at market highs.

This strategy – known as dollar cost averaging – also reduces “emotion” from investing, helping investors avoid selling weak performers just prior to an

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/investing-regularly-dollar-cost-averaging/feed/ 0 High Income and Low Net Worth – Saving for Retirement http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/high-income-net-worth-saving-retirement/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/high-income-net-worth-saving-retirement/#comments Wed, 21 Oct 2009 12:59:31 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=6285 It isn’t easy to save money, even for people making upward of $250,000. There’s no shortage of high-income earners who have relatively little net worth.

It’s not that they don’t save; many max out their 401(k) plans religiously. But socking away $15,500, or $20,500 if they’re eligible for catch-up contributions, annually isn’t going to provide for

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/high-income-net-worth-saving-retirement/feed/ 0 Savings Account, Checking Account, Credit Card Strategy http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/savings-account-checking-credit-card/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/savings-account-checking-credit-card/#comments Wed, 14 Oct 2009 15:15:58 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=6131 Forget the quaint notion that you should have your checking account, credit card and savings account all at the same bank.

Instead, look to cherry-pick the best of these accounts – with the goal of sidestepping fees, piling up credit-card rewards, earning extra interest and building a great credit score. Sound like a lot of work?

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/savings-account-checking-credit-card/feed/ 0 Credit Unions for Your Banking http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/credit-unions-banking/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/credit-unions-banking/#comments Thu, 08 Oct 2009 17:12:43 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=6093 Credit unions still only command 6% of the U.S. market, according to the National Credit Union Administration, a government regulator.

The small size doesn’t mean they should be overlooked as an option, however. Not only do credit unions tend to offer better interest rates and fewer fees, but their conservative nature (when it comes to the

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/credit-unions-banking/feed/ 0 Have a Banking Relationship http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-relationship/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-relationship/#comments Sat, 20 Jun 2009 20:07:32 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1979 Establish a banking relationship.

The Consumer Federation of America conducted a survey of check-cashing outlets and found that the average transaction charge for a $1,002 Social Security check in 2006 was $24.45. Their customers pay on average $19.66 every week to cash a $478.41 handwritten paper check. These charges add up on an annualized basis.

When you

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-relationship/feed/ 0 No-Fee Credit Card For Emergency Use http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/emergency-funds-how-to/credit-card-emergency/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/emergency-funds-how-to/credit-card-emergency/#comments Sat, 20 Jun 2009 20:06:09 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1976 You won’t need to tie up a lot of cash in a low-fee savings account if you can get a no-fee credit card and set it aside for emergency use. If you can get a no-fee credit card it reduces the amount of easy-access savings you need to tie up in a low interest rate

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/emergency-funds-how-to/credit-card-emergency/feed/ 1 Automatic Saving for Your Savings Program http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-saving/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-saving/#comments Sat, 20 Jun 2009 20:04:24 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1973 An automatic and regular savings program is more successful than a savings strategy that focuses on a long-term goal. A 2008 Rice University/Old Dominion study showed that people who focus on a long-term goal save less than people who save month-to-month or paycheck to paycheck.

Says Paul Dholakia, associate professor at Rice’s Jones Graduate School

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-saving/feed/ 0 Automated Saving and Dollar-Cost Averaging http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/regular-saving-dollarcost-averaging/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/regular-saving-dollarcost-averaging/#comments Sat, 20 Jun 2009 20:03:01 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1970 One of the big benefits of having a regular savings program is that you are “dollar-cost averaging”. What this means is that the average dollar cost for your stocks is lower because you buy more shares when the price is lower and fewer shares when the price is higher. You benefit from dollar-cost

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/regular-saving-dollarcost-averaging/feed/ 0 Banking Fees http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-fees/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-fees/#comments Sat, 20 Jun 2009 20:01:42 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1967 To eliminate banking fees start by signing up for alerts from your bank. Many banks will send you an email or cellphone text alert when your balance falls below a specific threshold.

Another option is to sign up for a “transfer service” that will automatically tap a savings account or a line of credit or

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/banking-fees/feed/ 0 Automatic Bank Transfers From Checking to Your Savings Program http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-bank-transfers/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-bank-transfers/#comments Sat, 20 Jun 2009 19:59:49 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1964 Make saving easier by automating it. It saves you time and it makes it less stressful. Automatic saving will also help to ensure that you will be a successful saver.

Talk to your bank about automatically transferring funds from your checking account to specific savings programs that you have in effect.

Savings programs may include

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/savings-program-how-to/automatic-bank-transfers/feed/ 0 Auction Your Cash to Increase Your Rate of Return http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/auction-cash-increase-rate-return/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/auction-cash-increase-rate-return/#comments Sat, 20 Jun 2009 19:57:56 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/?p=1961 If you think you deserve a higher rate of return on the cash you lend then consider an alternative to the Certificate of Deposit your local bank offers.

MoneyAisle.com allows you to auction your cash to the highest bidder. The good news is that all of the bidders are FDIC-insured banks. All of the

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]]> http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/auction-cash-increase-rate-return/feed/ 0 Banking Resources http://prosperityconcierge.com/trek/resources/banking-resources/ http://prosperityconcierge.com/trek/resources/banking-resources/#comments Tue, 16 Jun 2009 00:26:57 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/trek-how-to/banking-resources-2/ Visit Billshrink.com and type in your current balance, the features you want (such as online bill paying or ATM access), and other information, and the site presents you with savings accounts and CDs that will leave give you the most return for your money. BillShrink can send you alerts when a better rate

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]]> http://prosperityconcierge.com/trek/resources/banking-resources/feed/ 0 Your Checking Account is for Convenience – Make Sure Your Money is Working Hard For You http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/checking-account-convenience-money-working-hard/ http://prosperityconcierge.com/trek/trek-how-to/saving-how-to/banking-how-to/checking-account-convenience-money-working-hard/#comments Tue, 16 Jun 2009 00:25:32 +0000 Prosperity Concierge http://prosperityconcierge.com/trek/trek-how-to/checking-account/ You may have too much money sitting in a low-interest checking account. Watch your account balance to make sure you don’t have too much money tied up in a low-interest checking account.

Checking accounts are notorious for paying a low rate of interest. Remember why you have a checking account: convenience.

Once the funds start to

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