For the past decade I’ve driven my cars into the ground. Two of my last three cars were driven, quite literally, until the engines blew up and they had to be towed away. The average age of my last three cars at the time I bought them has been 13.5 years old. Buying older cars and driving them into the ground has allowed us to get ahead financially. In fact, driving older POS vehicles for the past decade allowed us to buy a brand new car this week. [Read more…] about How to buy a car and not get screwed. 5 tips from a former car salesmen.
|Ben Franklin’s adaption of a Chinese proverb|
How much better off would you be right now if you’d been taught the basics of personal finance as a kid? Would you have more cash saved up right now? Would you be financially independent already?
I know that I’d be much better off had someone taught me the basics of money; you probably would be as well. We would have been able to avoid making certain mistakes (or at the very least, we would have made fewer mistakes), you would have started investing earlier in your life, and generally speaking you would know more today because of the head start you got as a kid.
Note to self: A quick reminder to yourself on this gray, drizzly morning in Seattle. As you prepare to trade another week of your life for a paycheck, don’t forget that money, like all of your other possessions, is just a thing. Money gets old and wears out, and just like that car sitting in your garage, even your money loses value over time.
Too Long;Didn’t Read SUMMARY
- A good Employee Stock Purchase Program (ESPP) is like being given free money, for those that choose to participate
- A good ESPPs offers the following:
- The ability to sell purchased stock immediately (i.e. no waiting or vesting period)
- A percentage off discount from the stock price at the beginning or ending of a six month offering period, whichever price is lower
- If your employer offers a good ESPP, do whatever you can to max out your participation in the program because that’s basically free money
- Taxes are due if/when you sell; seek advice from a tax professional