Need Help Saving for Your Future?

Do you need help saving for your future?  There is a great starter retirement savings program called myRA.  It’s a savings account from the United States Department of the Treasury.

There are:

  • No cost or fees
  • No complicated investment options
  • No risk of losing money

It’s simple, safe and affordable.

Who is myRA for?

The program is designed to make saving for retirement easy for people who need it most – the workers who don’t have access to a retirement savings plan at their job or lack other options to save.

Why is it a good option?

It’s simple.  You take control.

  • You can set up automatic contributions.
  • If you change jobs, the account stays with you.

Withdraw the money you put into your account any time without paying tax and penalty.

It’s safe.  No need to worry about your investment.

  • The investment is backed by the United States Treasury.
  • Your account safely earns interest at the same rate as investments in the Government Securities Fund.
  • Guaranteed by the government never to decline in value so there’s no risk of losing money.

It’s affordable.  Fits your budget with no cost or fees.

  • myRA costs nothing to open and has no fees.  You can contribute any amount you choose – $2, $20, $200, etc.  Whatever fits your budget.
  • myRA is a Roth IRA and subject to the same rules that apply generally to Roth IRAs.

Visit to learn more about this truly great program to start your saving program to secure your financial future.

Thank you for visiting my website and for your interest in wanting to secure a future free a money worries.

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The Pilgrims had their money problems, too!

Just a little something about me. I live in Mystic, CT, and I frequently walk around Mystic to get some exercise. On November 2, 2016, I stopped on the boardwalk that’s part of a park along the Mystic River. I couldn’t understand why there were so many people standing around with very expensive cameras. Less than 5 minutes later, the Mayflower 2 was sailing towards the Mystic Bridge. I caught this picture with my iPhone! The Mayflower 2 was headed towards the Mystic Seaport where it is being renovated. The renovation will take 2 or more years to complete.

I thought it might be interesting, for some of us at least, to review some history about the settling of America as well as some information about its financial beginnings.

I have taken the following information from the website of the Pilgrim Hall Museum, located in Plymouth, MA.

We all know – or think we know – who the Pilgrims were. We know them as people on the cutting edge of a religious reformation that altered every aspect of European society.

But what many people may not realize is that Pilgrims were also on the cutting edge of a great economic change. Their voyage was not just an adventure; it was an investment.

Most of the Pilgrims were not wealthy. They knew they would need a lot of money if their new colony in America were to be a success: money to rent a ship and crew, money for supplies for the voyage, money to support the colony until it could become economically self-sufficient.

And so, the Pilgrims asked some London merchants to invest in the colony. After much negotiation, 70 merchants decided to form a joint stock company with the Pilgrims. Because this was a risky venture, they were known as “merchant adventurers.”

We know that the merchant adventurers invested between 1200 pounds and 1600 pounds before the Mayflower sailed.

Shares were issued, each worth 10 pounds. The merchant adventurers bought their shares. The adult colonists – who were after all, putting life and livelihood on the line – were each given one share and given the option to purchase more shares. For the first 7 years, everything remained in the “common stock,” owned by all the shareholders. The common stock would furnish the Pilgrims with food, clothing and tools. At the end of 7 years, the shareholders (Pilgrims and merchant adventurers alike) would divide equally the capital and profits (land, houses and goods).

In the meantime, the Pilgrims planned to engage in businesses such as lumbering and fishing, sending wood and fish to England to be sold.

In actuality, however, instead of sending back goods, the Pilgrims had to ask the merchant adventurers for even more money, again and again and again. The Pilgrims’ debt became very large very quickly. The merchant adventurers were not happy and the Pilgrims agreed to buy them out.

Beginning in 1628, the Pilgrims were to pay the merchants 200 pounds a year until they had paid 1800 pounds.

By that time, with the extra money invested in the struggling little colony, the debt may have been as high as 7000 pounds. The merchant adventurers decided, however, that they would rather be sure of having some of their investment returned instead of running the risk of losing it all. Only three of the merchant adventurers continued as partners with the Pilgrims as they struggled to pay off their debt.

Although the money to be repaid was not nearly as much as they had borrowed, it was still a large amount of money for the Pilgrims. One of the ways they found to make the money they needed to repay their debt was through the fur trade, particularly the trade in beaver fur.

While it lasted, fur trading had a very important effect on the development of America. However, the fur trade was far from simple.

The reason? Financial rules were still being invented. Bookkeeping was not standardized. Communications were poor. Not only were there many unethical businessmen as there are today, but the rules of business ethics were not universally agreed upon. Commercial practices were largely unregulated. Even the simplest of transactions were fraught with potential danger.

There is much more to read on the Pilgrim Hall Museum website.


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Learn the Language of Wealth Creation

Hello Friends,

If you want to create personal wealth, the first step you need to take is to learn the language of money.  Assets, liabilities and net worth are three words that make up an important formula to help you accumulate personal wealth.  The formula is:


So what is an asset?  It is a possession that generally increases in value or provides a return, such as:

  • a savings account
  • a retirement plan
  • stock and bonds
  • a house

Some possessions (like your car, big-screen TV, boat and clothes) are assets, but they aren’t wealth-creating assets because they don’t earn money or rise in value.  A new car is a tool that takes you to work, but it’s not a wealth-creating asset.  Take note, I’m not talking about the likes of a celebrity’s antique car that can increase in value.

liability, also called debt, is money you owe, such as:

  • a home mortgage
  • credit card balances
  • a car loan
  • hospital and other medical bills
  • students loans

Net Worth is the difference between your assets (what you own) and your liabilities (what you owe).  Your net worth is your wealth.  Are you worth as much as you want to be?

Becoming financially stable takes discipline.  And it is a discipline only you can teach yourself.

If $ in < $ out, there’s a problem.

Invest in yourself.  Believe in yourself and be willing to improve yourself by mastering a new skill or increasing your knowledge base.

Download my free ebook, Money-O Management Kit for Beginners.  I have a section called Moneycabulary(tm) which will help you learn the language of money.  One Moneycabulary word to learn:  Money Values – a code of money ethics that adults and children may want to live by.  For Example, honesty, responsibility, family and health come before money.



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A.C.T.:Accept, Create, Take Action

Hello Friends,

Gary Emery, Ph.D., created the ACT formula for dealing with stress.  It is translated to mean:

  • Accept what is (which does not mean just passively accepting whatever life throws at us)
  • Create a vision
  • Take action to make it happen

I’m taking his formula and using it as a motivational tool.  If it is your goal to get your finances into better shape, start by:

  • Accepting and acknowledging your problem. This is the first step on the road to financial recovery
  • Creating a vision must be based on reality to result in practical action.  Envisioning practical opportunities such as paying bills on time to avoid interest and fees, avoiding cash advance loans or identifying “wants” versus “needs” to cut back or eliminate some expenses are examples of creating a practical vision.
  • Taking action to make it happen requires patience and envisioning success.

Be kind to yourself

So, don’t beat yourself up if you made some mistakes with money – forgive yourself.  Building wealth requires having the right information, planning and making good choices.  Educate yourself by taking small steps and using all the resources available.

Finally, when feeling blue, make a list of the things that you are grateful for.  Focusing on the positive can help reduce the stress of financial problems.  So can the color blue.  Blue is widely reported to have a soothing effect.  Try either visualizing this color or literally finding objects colored blue may help induce an experience of wholeness, peace or tranquility.

Thank you again for reading my blogs, playing the money-o games and downloading my ebook.  “Be not afraid of going slow; be only afraid of standing still.”  Chinese Wisdom

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Do you know why you spend

Hello Friends,

Do you know why you spend more than you think?

The following information is updated from an article that I wrote while I was a financial counselor/educator at the Naval Submarine Base in Groton, CT. I regularly wrote financial articles for the Subase newspaper, “The Dolphin.”

Hasn’t it happened to all of us? We go to the grocery store or the mall to buy what’s on our list and somehow we emerge with three times what we wanted. How could we have done that?

Well, chances are we are unaware of emotional triggers that can make us overspend. To be a savvier, thriftier shopper, try these nearly effortless strategies because they could have a big impact on your bottom line.

  • Keep your hands to yourself. Studies show that the longer you hold a product, the more likely you’ll want to buy it. Handling an item, even for a moment, makes you feel it’s yours.
  • Get ride of temptation. That means halting the never-ending stream of e-mails and catalogs from your favorite stores. They just intensify your urge to splurge. To stop receiving catalogs, direct-mail ads and store e-mails, visit or Unsubscribe from e-mail lists individually by following the directions that are typically at the bottom of each message.
  • Calculate the real cost of your purchase. Before you buy that “gotta have it” item, try thinking about the money you’ll spend in terms of your time or what else it could buy. How many hours will you have to work to pay for it? Could that chunk of change cover a car payment or a week’s worth of groceries? You may decide that “must have” item isn’t a “must have” after all.
  • Unglue yourself from the tube. According to the A.C. Neilson Co., the average American watches more than 4 hours of TV each day (or 28 hours/week or 2 months of non-stop TV- watching per year). In a 65-year life, that person will have spent 9 years glued to the tube. And that could be hazardous to your financial health because people who watch a lot of TV tend to crave more material possessions – that’s according to a study published in the Journal of Consumer Research.
  • Be prudent with your plastic if you lack self-control. As you’ve probably learned the hard way, charging your purchases to your credit card makes it easier to overspend. Researchers discovered that people are more likely to buy only the basic necessities when they fork over actual dollars and cents.
  • If you are tempted by promotional offers that come through the mail, buy a shredder and shred the stuff immediately. The purchase of the shredder will be a cost effective move in the long run.
  • Finally, keep your financial goals in sight. Clip a beautiful image from a magazine that represents something you really want. If possible laminate the picture and stash it in your wallet so you’ll see it every time you purchase something. It may prevent you from making an impulse buy.

Once again, thank you for reading my blogs, playing the money-o games and downloading my free ebook, “Money-O management kit for beginners.” Every step, no matter how small, you take to educate yourself about financial matters, is one step closer to your becoming less stressed out over your finances.

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