so the real reason I am getting so into financial stuff and learning more and more about financial education and asset development is my new job that I found through the AmeriCorps VISTA program.
I must admit AmeriCorps VISTA was not something I was always planning on doing after college. But, I'm so glad I looked into it and found something that fit my capabilities, interest and passion!
An AmeriCorps VISTA is a person that is matched to a nonprofit organization that is either just establishing itself or strating a new program. The VISTA's mission is to build capacity and ensure that the program is created in a way that it can sustain itself and last.
I am the second VISTA to work for this specific organization and so I'm trying to continue institutionalizing the aspects of some of our programs. The problem we're facing is that the SparkPoint program is a regional inititiative with funding from different sources, dependent on certain outcomes and we have not figured out the perfect process. We are under-staffed and trying to figure out how to expand while being effective and using people's time wisely.
In conclusion, people don't do this for the pay, they do it for the heart warming sort of reward. Not only am I getting this kind of reward, but I am learning and getting trained in different skills constantly, I am gaining invaluable work experience, and I love doing it (even though each day is getting more and more stressful, the more we realize we need to determine our process and start building the capacity to accomplish our goals!)
Thursday, January 13, 2011
Wednesday, January 12, 2011
Retirement: Mutual Funds, Bonds, and other ways to risk your money.
oh yea - I'm tackeling it. I will attempt to sort through my latest reading, though I can't promise a complete picture as of now! It seems like the more I learn the more unsure I am about what I should invest in for my retirement...which is definitely not what I intended.
A short recap of what I've learned:
Mutual Funds
By buying one, I am agreeing to let someone else decide which specific stocks to invest in AND paying that person to do it. Now, there are pros and cons to this.
Pros: you can blame someone else when your portfolio decreases in value, you can rely on someone else to make pretty important decisions
Cons: smart, intellectual stock martket gurus can't truely predict the market either.
I will definitely put money into mutual funds because I feel like my knowledge about different markets and companies is not up to par...and I have paranoia/stress issues....it's best if someone else worries about the market. Though I'm sure this thinking is not fool proof!
As long as I pick a mutual fund with no loads, and VERY low commission ... and in a perfect world I will also check out the bio of the person in charge of the MF. Generally, if they have been the manager for over 4 years, they're 30+ and successful, I'm happy! But hey, I'm still learning!
There are lots more things to look at regarding mutual funds, and so I will revisit when I'm done with my first book =)
Bonds
I will also add these to my retirement fund. Why? because yes, diversification is key, but ALSO because they are a lot more safe than stocks! and having mentioned earlier that I can get quite paranoid, I think I like this option..depending on what I choose. Also keeping in mind, that when saving for the long term, anything gaining under 4% interest may not be as beneficial as you think, since the average inflation rate is at around 3% or so I've been told. So bottom line, you probably can't rely completely on bonds. =(
So yea, I've pretty much summerized my opinions here. No actual data to help make better decisions - will need to work on that!! I will start including actual research soon. But now that some of my thoughts are on paper, it will be easier to move forward!!
and we'll address the whole other ways to risk your money...
A short recap of what I've learned:
Mutual Funds
By buying one, I am agreeing to let someone else decide which specific stocks to invest in AND paying that person to do it. Now, there are pros and cons to this.
Pros: you can blame someone else when your portfolio decreases in value, you can rely on someone else to make pretty important decisions
Cons: smart, intellectual stock martket gurus can't truely predict the market either.
I will definitely put money into mutual funds because I feel like my knowledge about different markets and companies is not up to par...and I have paranoia/stress issues....it's best if someone else worries about the market. Though I'm sure this thinking is not fool proof!
As long as I pick a mutual fund with no loads, and VERY low commission ... and in a perfect world I will also check out the bio of the person in charge of the MF. Generally, if they have been the manager for over 4 years, they're 30+ and successful, I'm happy! But hey, I'm still learning!
There are lots more things to look at regarding mutual funds, and so I will revisit when I'm done with my first book =)
Bonds
I will also add these to my retirement fund. Why? because yes, diversification is key, but ALSO because they are a lot more safe than stocks! and having mentioned earlier that I can get quite paranoid, I think I like this option..depending on what I choose. Also keeping in mind, that when saving for the long term, anything gaining under 4% interest may not be as beneficial as you think, since the average inflation rate is at around 3% or so I've been told. So bottom line, you probably can't rely completely on bonds. =(
So yea, I've pretty much summerized my opinions here. No actual data to help make better decisions - will need to work on that!! I will start including actual research soon. But now that some of my thoughts are on paper, it will be easier to move forward!!
and we'll address the whole other ways to risk your money...
Monday, January 10, 2011
Mint.com
So, I was reading a book called, "Rule your Freaking Retirment" because for some unfathonable reason I am obsessed with retirment. And not because I want to retire as soon as possible, I actually am not planning on retiring until my late 60s. I just want to know that I'm saving my money effectively and besides retirment I haven't decided on any other savings goals. Hopefully this blog will help me figure out what I want to do and thus give me a more immediate savings goal.
well more on retirement later. I wanted to talk about Mint.com, which I googled after having read a section in the previously mentioned book. Since, it's only my first day using it, I can't make a complete assessment. But, as of now, I really like it!
Initially, you have to give the financial management program a lot of trust, because you let it connect to all your bank accounts. However, it says clearly that it's access is for reading purposes only. Another reassuring aspect is that my ING Direct account does not actually use login information, but has a seperate "access code" for such software. This way, Mint does not actually have my login information!
I like Mint.com because it asses your accounts and determines your budgets and savings possibilities. You can make personalized savings goals and you can even manage your investments. I have been wanting to anaylze the amount of money I spend on groceries, gas, clothes, and entertainment to see where I can cut back and how much I can comfortably set aside for savings.
Hopefully Mint.com will be useful for me!
xoxo
well more on retirement later. I wanted to talk about Mint.com, which I googled after having read a section in the previously mentioned book. Since, it's only my first day using it, I can't make a complete assessment. But, as of now, I really like it!
Initially, you have to give the financial management program a lot of trust, because you let it connect to all your bank accounts. However, it says clearly that it's access is for reading purposes only. Another reassuring aspect is that my ING Direct account does not actually use login information, but has a seperate "access code" for such software. This way, Mint does not actually have my login information!
I like Mint.com because it asses your accounts and determines your budgets and savings possibilities. You can make personalized savings goals and you can even manage your investments. I have been wanting to anaylze the amount of money I spend on groceries, gas, clothes, and entertainment to see where I can cut back and how much I can comfortably set aside for savings.
Hopefully Mint.com will be useful for me!
xoxo
introduction
Hello!
this is Rebecca and I've decided to start a blog. It's my first year out of college and the first time in my life I don't really have a plan....and I'm currently an AmeriCorps VISTA. This blog will document my experience as a Volunteer In Service to America, my experience as a college graduate, and my attempt to figure out my "plan", all in the context of finances.
My AmeriCorps VISTA project is in San Francisco and focuses on asset developement and financial education for low income families all within the goal to end poverty.
Pretty much this is a mixture between a diary and an assesment/analysis of my experience with the ultimate goal being to figure out what comes next.....!
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| Graduating from college! |
My AmeriCorps VISTA project is in San Francisco and focuses on asset developement and financial education for low income families all within the goal to end poverty.
Pretty much this is a mixture between a diary and an assesment/analysis of my experience with the ultimate goal being to figure out what comes next.....!
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