If you have a well-paying job, but can’t seem to shake off the feeling that you’re not making much financial progress when it comes to saving, Quartz has the article for you.
Despite being a socialist utopia in many other ways, you still have to pay for prescriptions and dental care in Canada. Luckily, I was on my father’s insurance plan, but that luck was set to run out on my birthday.
Bernstein’s manual is as readable as his facts are sobering. (None of us have pensions! We’re screwed!) The most important thing you can do is to save 15% of your income starting at age 25, he says. It will get you in the habit of saving, which is good because, get ready, there’s lots more saving to do.
At Motherlode, Ron Lieber wonders when the right time is for his kids to switch from saving money in a jar or piggy bank to a savings account at the bank. Lieber says there is value for kids to see their pile of money growing in a bank at home—money that they can actually hold in their hands if they wanted to. He points to David Owen’s book, The First National Bank of Dad which had a chapter on this argument
This is the year I decided that I wanted to stop living with roommates and get my own place. This is going to be accomplished in part by looking for a better paying job, and cutting back on some of my expenses—the latter of of which I’m accomplishing by…