Many people save money for a dream project, such as a fabulous vacation. My family loves to travel, and it's something we work into our budget. It helps that we don't care too much where we go, as there are interesting things to see and great people to meet everywhere in the world. If one year, our … [Read more...] about Money Smart Week: How to save for a dream trip
Retirement & Investment
I asked friends what I should write about for Money Smart Week, and one asked about target date mutual funds. The Wall Street Journal had a short piece saying that they could be risky, but what are the risks? The big risk is that your risk and return profile is not the same as that of the average … [Read more...] about Money Smart Week: Retirement and target-date funds
There was a time a few years back when everyone wanted as large a mortgage as possible so that they could make as much cash as possible when they flipped their house. Remember that time? The real estate market seems to be picking up in Chicago, but let's hope that it doesn't have the same insanity … [Read more...] about Money Smart Week: Should you pay off your mortgage?
As with so many things in life, saving for retirement is easy and it is hard. It's easy in that you need to spend less money than you earn, and (it is hoped) Chicago on the Cheap can help you do that while you still have fun. The hard part is that once you set the money aside, you have to deal … [Read more...] about Money Smart Week: Retirement rollovers
A lot of money smarts are also street smarts - knowing how to navigate the grocery store, finding the best cheap entertainment, and being able to negotiate a good deal. Other money smarts are also book smarts. The basics of economics and finance are helpful! Really! Recently, as friend asked me … [Read more...] about Money Smart Week: The basics of inflation
A group of financial advisors and bloggers has put together a survey of retirees who are satisfied with their standard of living and used it to create a guide to retirement savings. The e-book is free; you can get a copy of it here. And guess what there are successful retirees - enough that the … [Read more...] about Free e-book: The Retiree Next Door
It's getting to be the time of year when eighth graders in Chicago get very stressed out about high school admission. The process here is horrible - HORRIBLE! - and no kid should have to go through it. But they do, because they have to. My kid goes to a Catholic high school, which made a lot … [Read more...] about Private high school scholarships in Chicago