Who ends up with more? (A chart every college graduate should see)

Susan, who invests $5,000 per year only from ages 25 to 35 (10 years)

Bill, who also invests $5,000 per year, but from ages 35 to 65 (30 years)

And Chris, who also invests $5,000 per year, but from ages 25 to 65 (40 years)

See:

Compound Interest is a miracle.

The rest of the article can be read here: http://www.businessinsider.com/compound-interest-retirement-funds-2014-3

Tom Sirois

Great Barrington, MA

What To Do When You Win the Lottery

I am always fascinated by folks who win the lottery, and later declare bankruptcy. There are many reasons for it, but I suspect that MOST lottery players are not too savvy with financial matters, so the lack of financial management skills is the kiss of death if they are "lucky" enough to win.

I just came across a very nice slideshow presentation from CNBC (not always the best place to get financial advice) that has some great advice if your do win the lottery:

What to do when you win the lottery (via CNBC).

My particlar favorite is "Get the lump sum".

Tom Sirois

Great Barrington, MA

Do you think Social Security is a Ponzi Scheme?

Many people describe programs that they do not agree with as "Ponzi Schemes", but the truth is, many of the programs in our US Government are build similarly (if not exactly) like these schemes we are warned to avoid:

Click the link to see a brief video:

Social Security IS a Ponzi Scheme

What do you think? I happen to agree.


Tom Sirois
Great Barrington, MA

Money and Life Advice from 18 Wealthy and Prominent Leaders

Here is a great graphic from Entrepreneur Magazine, well worth the time paging through. If 10% of this sunk in early in our lives, I believe we would be much happier and wealthier.

Click here to go to "Inspiration Station"

Tom Sirois
Great Barrington, MA

Biggest Money Mistakes Grandparents Make

This is an excellent article from Grandparents.com

It tells of the Biggest Money Mistakes Grandparents Make.

I would also add two items:

1. Spending time w/ your Grandchildren helps them understand the value of time and company (rather than "stuff").
2. Explaining to your Grandchildren "the good old days". There is much in your personal history that would be of great value (financially and otherwise).

Any thoughts?

Tom Sirois

Great Barrington, MA

Halloween: Time for Financial Tricks or Treats?

Halloween, like many holidays, can be a great time to teach kid's financial concepts.

Use your children's natural excitement for dressing up to discuss budgeting, cost analysis, counting, etc.

Read the whole article here: Teach kids the financial tricks and treats of Halloween .

Do you use holidays to discuss financial concepts with your kids?

Tom Sirois
Great Barrington, MA

Do you know what a "write off" is?

Do you know people who think they know what they are talking about when it comes to money? It can be a very dangerous approach to take their advice.

Tom Sirois
Great Barrington, MA