Comments on: 4 Things That Are Making You Poor

By: Thomas Dickensheets

Thomas Dickensheets — Fri, 30 Jan 2009 03:28:03 +0000

I get SSI & I work part time. I don’t get 401K. I live in low income housing. My income is in $10,515.74 in 2008.

By: Patrick

Patrick — Wed, 21 Jan 2009 12:17:47 +0000

All solid advice. I use CD ladders for my extra cash while I'm saving for other needs, but once upon a time I left it sitting in a regular savings account. At today's rates, that will get you nowhere fast! Read Patrick´s latest article - Zecco Discount Brokerage Review

By: Man Overboard

Man Overboard — Wed, 21 Jan 2009 06:00:37 +0000

Great article, Jeff! My girl wants to pull money out of her 401K to put a down payment on her first house. Can you help me talk her out of it? Read Man Overboard´s latest article - B Movie Babels: Day of the Dead (2008)

By: RC@Thinkyourwaytowealth

RC@Thinkyourwaytowealth — Wed, 21 Jan 2009 03:11:38 +0000

Great points about not using the 401k as a safety net. Borrowing money from it is a bad idea, and diversifying with a Roth is a great idea too. Thanks (to both Jeffs) for mentioning my article! Read RC@Thinkyourwaytowealth´s latest article - Walking the Fine Line Between Being a Spender and a Saver

By: Christopher

Christopher — Wed, 21 Jan 2009 02:42:15 +0000

Absolutely. Now take your money out of your greedy bank and put it in a credit union:

http://www.findacreditunion.com/

Read Christopher´s latest article – Kids’ Letters to President Obama

By: elementaryfinance

elementaryfinance — Tue, 20 Jan 2009 20:30:15 +0000

YES! Great article. "Your 401K is not your savings account!" This was the line that we would hope people would remember. I wrote an article on my blog (linked here) about finding money you didn't know you had to fund your savings account. Check it out. Leave your 401K alone!!!! Read elementaryfinance´s latest article - Investing the Green Way

By: Studenomics

Studenomics — Tue, 20 Jan 2009 17:49:51 +0000

Yes I couldn't agree more that leaving your money in a regular checking account is not beneficial at all. If your risk tolerance is fairly low there are still many conservative low risk options that could yield you a decent percentage. Depending on how much money you hold in your account, you could earn yourself a decent amount of extra money by having a few investments. The opportunity cost of having your money sitting around in a regular checking account is that your money never works for you. Read Studenomics´s latest article - Financial Killers During College- The 3 C’s