Comments on: In The Beginning http://www.gatherlittlebylittle.com/2007/08/in-the-beginning/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Sat, 21 Nov 2009 03:27:42 -0400 hourly 1 By: glblguy http://www.gatherlittlebylittle.com/2007/08/in-the-beginning/comment-page-1/#comment-1826 glblguy Tue, 07 Aug 2007 15:53:17 +0000 http://www.gatherlittlebylittle.com/2007/08/07/in-the-beginning/#comment-1826 After I replied to Randy and George I remembered Pinyo over at <a href="http://www.moolanomy.com" rel="nofollow">Moolanomy</a> had a great article on <a href="http://www.moolanomy.com/53/7-costly-retirement-savings-mistakes-to-avoid/" rel="nofollow">avoiding retirement savings mistakes</a>. He has an example that backs up Randy's response and shows the cost of waiting or starting late. After I replied to Randy and George I remembered Pinyo over at Moolanomy had a great article on avoiding retirement savings mistakes. He has an example that backs up Randy’s response and shows the cost of waiting or starting late.

]]> By: glblguy http://www.gatherlittlebylittle.com/2007/08/in-the-beginning/comment-page-1/#comment-1825 glblguy Tue, 07 Aug 2007 15:41:32 +0000 http://www.gatherlittlebylittle.com/2007/08/07/in-the-beginning/#comment-1825 @Randy - Thanks Randy, great, great advice. I don't think people in general look at the 401k from that perspective. Where I work, I also get a 100% match, so 100% return on your investment, guaranteed. @George - I use a debit card. Now before all of you jump on me about risk of getting my number stolen. I only do business with reputable companies (like Amazon). Another thing a friend of mine does (and I have been considering) is having a checking account and debit card just for online purchases. When he wants to but something he just transfers the money over. George, I just decided that I've never really had a good experience with any credit card company and just don't want to give them my money or business anymore. I just don't want to use other people's money to buy my stuff. That was really the key realization I had. If I can't buy it using my money, than I don't need it. @Randy and George - Thanks for offer your insights and thoughts, I appreciate it! @Randy – Thanks Randy, great, great advice. I don’t think people in general look at the 401k from that perspective. Where I work, I also get a 100% match, so 100% return on your investment, guaranteed.

@George – I use a debit card. Now before all of you jump on me about risk of getting my number stolen. I only do business with reputable companies (like Amazon). Another thing a friend of mine does (and I have been considering) is having a checking account and debit card just for online purchases. When he wants to but something he just transfers the money over.

George, I just decided that I’ve never really had a good experience with any credit card company and just don’t want to give them my money or business anymore. I just don’t want to use other people’s money to buy my stuff. That was really the key realization I had. If I can’t buy it using my money, than I don’t need it.

@Randy and George – Thanks for offer your insights and thoughts, I appreciate it!

]]> By: George http://www.gatherlittlebylittle.com/2007/08/in-the-beginning/comment-page-1/#comment-1824 George Tue, 07 Aug 2007 15:15:51 +0000 http://www.gatherlittlebylittle.com/2007/08/07/in-the-beginning/#comment-1824 > Cutting Up Your Credit Cards Wow! I don't think I am ready for that yet. I know it would be a good thing to do, but I would need to keep one credit card for online purchases... at least that is the execuse I would use:-) > Cutting Up Your Credit Cards

Wow! I don’t think I am ready for that yet.

I know it would be a good thing to do, but I would need to keep one credit card for online purchases… at least that is the execuse I would use:-)

]]> By: Randy Peterman http://www.gatherlittlebylittle.com/2007/08/in-the-beginning/comment-page-1/#comment-1823 Randy Peterman Tue, 07 Aug 2007 14:43:28 +0000 http://www.gatherlittlebylittle.com/2007/08/07/in-the-beginning/#comment-1823 When I first got hired on at a company in Texas they asked me if I wanted to participate in their 401(k) program. I declined because I was going to make it big on the stock market through options trading. After losing a huge amount of money on options I realized that I was willfully losing a 100% increase in my money through company matching. If you read this comment and you don't have your corporate match in place: please turn off your internet connection, turn off your phone, turn off your lights and walk to the HR department office and fill out the forms to at least get the corporate match. Of course if you can use a website or a telephone to get the 401(k) set up you could do that too, but do it now! I missed out on what would have been thousands of dollars because I was silly - please learn from my mistake. When I first got hired on at a company in Texas they asked me if I wanted to participate in their 401(k) program. I declined because I was going to make it big on the stock market through options trading.

After losing a huge amount of money on options I realized that I was willfully losing a 100% increase in my money through company matching. If you read this comment and you don’t have your corporate match in place: please turn off your internet connection, turn off your phone, turn off your lights and walk to the HR department office and fill out the forms to at least get the corporate match. Of course if you can use a website or a telephone to get the 401(k) set up you could do that too, but do it now!

I missed out on what would have been thousands of dollars because I was silly – please learn from my mistake.

]]>