Partner/Rivalry on Quest of Personal Finance

Okay, I’ve been studying too long and want to take a break and scribble something on my blog. I have been reading many personal finance blogs lately, and I came across a post from Make Love, Not Debt:

A few weeks ago I was out having a few drinks with few coworkers during happy hour. One of my coworkers (CW1) noted that in a few weeks he will have been at the company for six months. Another coworker (CW2) remaked that he was then eligible to participate in the company retirement plan. Both of these coworkers are my age, maybe a little younger. The conversation went a little like this…

CW1: Hey, I’ll be at the company for six months in a few weeks!

CW2: Yeah dude, you’ll be eligible for our 401k. (but we have a SIMPLE IRA…or am I just being nitpicky?)

CW1: Yeah that’s cool.

Him: Yeah, I was thinking of rolling over my SIMPLE IRA to a Traditional IRA because I don’t like our investment options. I won’t be eligible to do that until May, though.

(blank stares)

CW2: Yeah, my boyfriend works at Morningstar, so he handles all of that stuff for me.

CW1: I don’t have a clue when it comes to that stuff.

CW2: Yeah. You guys watch Battlestar Galactica?

Sigh.

Although I haven’t begun my real professional career YET (being 2 months shy of graduation), I look around my peers, where a majority are older and/or full-time employees, and somehow I feel similar to the author here… Unfortunately I’ve heard more about young people not wanting to contribute to 401k because of how it reduces their paychecks, and NO young people who wants talk about personal finance and investment, etc around me.

As the title suggests, I would love to have a partner or even a rival to help push and/or encourage each other in learning these personal finance matters. But where can I find them? Makes sense? Oh well, it’s so late, I don’t care anymore.

That being said, I’ve been using a lot of excel for a class lately, and for fun I came up with a very rough, simplistic, interactive model to look at the growth of asset/net worth/whatever to put things in perspective a bit, with an initial asset that grows at a constant annual rate along w/ an annual contribution to the asset that grows by a separate constant amount. It actually makes future looks kind of hopeful. :P

excel_future.jpg

Feel free to download the excel file and play with it, modify it. It’d be great if someone comes up with something interesting or a much more realistic model and send it back to me :)

Alright, back to study, ciao.

Originally posted 2006-11-07 04:13:04. Republished by Blog Post Promoter

One Response

  1. mm says:

    u uploaded an older version. the version up there now assume annual contribution increases at the growth rate, which you might or might not want to assume.
    nice scroll bars
    -mm

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