Tag Archives: retirement

The Rules For New Savings

How do you get ahead in today’s economy?

It is easier to talk about than to actually get done, isn’t it?

The only way to truly get ahead in today’s economy is to reset your thinking and reboot the way you look at money, banking, saving, retirement accumulation and more.

Let’s try a few of our philosophies out.

Saving is not optional. Everyone talks about it like it is, but it isn’t.

Good times and bad times will happen to everyone. Save during the good times and you will be fine. Don’t….and you won’t.

Checking accounts are money laundering accounts for other people’s money. Use any excuse you can to push money from checking into savings (money market savings or certificates of deposit).

A correct-sized emergency savings fund for 2010 is NOT three to six months of expenses. It’s fifteen to eighteen months of expenses in savings (money market and certificates of deposit).

Savings can generate faster than you think. If you are not saving money with every paycheck today, start with our 1% Savings Plan. Check our past blogs to see the details. It is our way anyone can start a saving program without killing their lifestyle.

If you use coupons and coupon codes, make sure you compare the real coupon price with non-coupon prices elsewhere. Make sure you compare how much of the product is offered for use with a coupon Vs packaging that is not offered with a coupon or coupon code. Check out our free Facebook group called “Coupons & Coupon Codes.”

You only save with coupons or coupon codes if the product is something you really need or something you ordinarily use and you put the savings in actual savings.

Negotiate on everything. Take the money you save negotiating and put it in savings (as if you spent it).

You should see how we feel you should treat credit card companies and every company that sends a bill to your house. It will help you save. Keep checking back with this blog and you can pick it up.


In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford

Do You Have A Personal Financial Plan?

letter writing

What is your plan? Do you have a plan for building savings? Do you have a proper emergency savings fund should you lose your job or run into more significant difficulties?

I was talking to a good friend of mine and we were talking about how easy it is to fall into credit card debt. We talked about how “we all know” what we “should” be doing, but time slips away.


This is why you must take some time to sit down and review your expenses over the last three (3) months. Have you done this? Look at all your spending and put your spending in categories.

Look at what spending you might be able to cut out in the future.


Then, treat yourself like a business in a recession. Put yourself on a mandatory 10 – 15% expense reduction across the board. Call every company that sends you a bill (yes, even cable and electric). Tell them that you have to cut your expenses by 10 – 15% in the next thirty (30) days and ask for their help. You might be surprised at the good results.

Remember: this is an across the board reduction. You are taking this away from cutting a specific bill. Everyone reduces and you get to save more. That’s the idea, and it works.

Take any money you save and “earmark” that money for a monthly automatic withdrawal from checking to savings (money market or certificate of deposit).


Spend an hour of your time three (3) days a week to research coupon codes and savings on the internet. Any money you save must be removed from your checking to your savings. You can do this as the savings occur. If you don’t take this “savings” from checking to savings, you are NOT really saving.


Are you enrolled in your company 401k plan? Do you have opportunity to enroll? If you do, make it happen. This is an excellent way to partially pay for retirement. Did you see that word PARTIALLY?

In the old days, your parents believed that Social Security would pay for their retirement. Then, we all began to believe that Social Security would go bust. Over the past decade, people have believed that a 401k would be enough to help you retire with strong income. Now we know that you will need a 401k and either a Roth or individual IRA. It should be a part of your “plan.”


It’s easy to get off track. You must manage your finances with an eye on the future. Good things and bad things happen to everyone. If you save automatically each paycheck and you take money out of your checking at any excuse to build savings, you will be in a good position to help yourself when bad things happen.


This is why your emergency savings fund goal should be to build 15 to 18 months of expenses in savings. The first six (6) months should be liquid in money market savings with an FDIC-insured bank with the highest possible interest rates. Then, the balance should be in certificates of deposit (six month cds only).

With automatic savings, your emergency savings will build a lot faster than you think. Focus on the fact that time will move along and you will build this money over time.


Once you have built your emergency savings fund and you are contributing to your company 401k and either a Roth or individual IRA, you should begin to seek ways to purchase assets that generate dividends or other assets. This is the true path to wealth.


The greedy rich want us to continue to use their credit cards. They want us to see our liabilities as assets so they continue to grow wealthier while the common man remains poor.

If you don’t take any advice from anyone, take this advice. Develop your own plan for saving and investing regularly. Avoid credit cards and other debt. Focus on building the correct emergency savings fund for today’s complicated job and financial market. If you have opportunity to contribute to a 401k AND either Roth or indivual IRA, DO IT.

The bottom line is this: Purchase assets that make money themselves. This could be stocks, mutual funds, or real estate. If you focus on purchasing things that make more money on their own, you will build wealth. That should be your goal.

Do you have a plan? If not, sit down and begin right now. You can do this – and you can find ways to save money. More than this, you will reach a point when you can focus on only on purchasing money making assets. This will allow you to build true-wealth.

If you’ve not signed up for our FREE monthly e-saver, you can do so by signing up in the e-mail window at http://www.stickyasset.com/blog. It can save you thou$ands more in the next few years alone!

Good luck!

Loyd Ford