Here’s a quick plug for my fitness blog, Get Fit Slowly. A bunch of us started the one hundred pushup challenge today. Our goal is to be able to do one hundred pushups by the end of July. This seems nearly impossible to me right now — I can’t even do ten pushups. I’ll be posting daily reminders to prompt participants to do their exercise. If you’d like to join us, swing on over to Get Fit Slowly.
But you come here to read about fiscal fitness, not physical fitness. Here are some recent articles that could help you get rich slowly:
First, the May/June 2008 issue of Orion Magazine includes an article entitled “The Gospel of Consumption”. “We we could work and spend a lot less and still live quite comfortably,” writes Jeff Kaplan as he describes the 30-hour workweeks that Kellogg Company once employed. Workers loved them. This is a long piece, but it’s interesting.
Several people sent a link to a recent Time magazine article about people who want to live with just 100 things. The first hurdle is deciding what counts as a “thing”. But a bigger problem is finding the willpower to actually get things down to that number. This isn’t necessarily something I advocate, but it’s fun to read about. (And I found the article by Lisa McLaughlin amusing.)
Saturday’s New York Times features a primer for young people starting their first job. Ron Lieber provides an overview of three key concepts: health insurance, taxes, and retirement plans. If you’re fresh out of school and starting a new job, this article is a good intro to important concepts.
Finally, No Credit Needed crunched some numbers this morning in an attempt to encourage young adults to fund their Roth IRAs. He points out that a fully-funded Roth IRA at age 18 could net you $3.5 million in retirement. From a one-time contribution. (This is assuming a very generous 13% annualize return, however.) He also provides a chart demonstrating how much a person could save by putting $5,000 a year into a Roth IRA from age 18 to age 72.
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This article is about Spare Change