Prosperity Trek by Prosperity Concierge » Savings Program

Pay Yourself First with Easy Dollar-Cost Averaging

Prosperity Concierge — Mon, 04 Jul 2011 23:16:27 +0000

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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If You Have Money You Don’t Have to Worry About It – Save and Be Happy

Prosperity Concierge — Sun, 15 Aug 2010 14:35:55 +0000

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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Take Control of Your Saving and Asset Allocation to Reduce Your Risk

Prosperity Concierge — Mon, 09 Aug 2010 01:25:33 +0000

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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Steps to Protect Your Cash Flow

Prosperity Concierge — Tue, 29 Jun 2010 13:24:32 +0000

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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Establish your Savings Priorities – Your Savings Hierarchy

Prosperity Concierge — Tue, 16 Mar 2010 17:27:11 +0000

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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Investing Regularly – Dollar Cost Averaging

Prosperity Concierge — Fri, 23 Oct 2009 18:05:00 +0000

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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High Income and Low Net Worth – Saving for Retirement

Prosperity Concierge — Wed, 21 Oct 2009 12:59:31 +0000

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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Automatic Saving for Your Savings Program

Prosperity Concierge — Sat, 20 Jun 2009 20:04:24 +0000

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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Automated Saving and Dollar-Cost Averaging

Prosperity Concierge — Sat, 20 Jun 2009 20:03:01 +0000

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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Automatic Bank Transfers From Checking to Your Savings Program

Prosperity Concierge — Sat, 20 Jun 2009 19:59:49 +0000

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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Save Money As A Lifestyle Choice

Prosperity Concierge — Tue, 16 Jun 2009 00:24:52 +0000

Make saving a lifestyle choice and not simply something you do to meet a specific objective, such as college or retirement. You should try to have a savings program that allocates 10% of your after-tax income. This isn’t aligned with a purpose other than having saving be a part of your lifestyle –

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