I started this blog because I started saving for a condo down payment and was completely clueless as to the best method to invest and save my money in the short-term. Additionally, I started a second job as a self-employed contractor tutoring high school students and had no idea how to shelter this self-employed money from the government. I quickly discovered my local bank was unable to inform me adequately about a solo-401k, but they would open a solo-401k account with numerous fees. What a service! At that point I went to the internet and found numerous personal finance bloggers that were more informed on saving and investing.
It was at this point that I noticed all of my favorite blogs were run by older bloggers who already owned property, built up significant net worth and developed asset allocations. Sure, I can go and read through archives to discover all of this information that I am currently looking for. OR I can blog about it myself and help enlighten people in a similar situation, all while learning the art of Blogging.
I have read other personal finance blogs, investment websites and all related books from the library that I can get my hands on. This is the extent of my “expertise”. I am by no means qualified to give professional financial advice, however, I am constantly striving to learn and you can expect to read about anything financial that I learn or do on this blog.
I am 25 years old and unmarried. I graduated with a B.S. in an Engineering field from the prestigious east coast university known for its blackjack skills among other things. I work in the suburbs of a major Midwestern U.S. city for a newly public startup biomedical diagnostic company. Additionally, I am a self-employed contractor who tutors high school students in all levels of math and science.
As for my current financial situation, I paid off my student loans in February of 2007. I have no credit card debt as my parents drilled it into my head at an early age to always pay off my credit card in full every month. I just finished saving for my 20% condo down payment. I have no 401k or emergency cash fund. I’m halfway towards paying off my car, which I bought new and financed at 3.9%. I own a Target Retirement Fund in a small Roth IRA and I own Target stock that I received as a high school graduation gift from my Grandma.
It is at this point that I start-up my financial journey…