A Financial Roadmap for Generation Y

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If you are interested in learning more about this subject, check out my new book From Piggybank to Portfolio: A Financial Roadmap for New Investors. It’s humrous and easy to read and provides a great overview of saving and investing aimed specifically at students and young adults.

Brian Perry of CA 10:03PM July 25, 2011

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katlynmccl of 4:15AM March 28, 2010

"We need the Fair (consumer) Tax now..."
All you have to do is look at the last name of the guy who champions the "fair" / "flat" tax more than anyone else to know it's great for the wealthy...
(Steve) Forbes
As someone who does taxes for the super wealthy...the 9-10 digit net worth people...they love this plan. They somehow have convinced Joe Public that the "gubmint takes half" of their income....so very untrue
William Weathly doesn't have a job that pays wages...the bulk of his income is shielded at capital gains rates of 15% and the maid that cleans my condo pays a higher rate than he does.
If William Wealthy is at least reasonably savvy, he pays at most 20% of income in tax when you average in non capital gains income. The maid that cleans his toilet pays more. Payroll tax hit her for 15% and since she spends most all of her paycheck as she gets it, sales tax adds in another 7-8%. Even without income tax, she pays a higher rate overall simce William's expenditures like real estate and investments aren't hit by a sales tax or any proposed VAT.
Again...when a guy named FORBES champions an idea...you're an idiot to sense it is good for the wealthy...

Todd of TX 2:07AM March 21, 2010

This article can be summed up with, grin, bare it... we had it good but that means you can't...

Ryan 1:00PM March 19, 2010

Muser, your thinking is so far off that you are going to doom the next generations to poverty. You really want to lay your future in the hands of fat cat Washington politicians? As long as everyone has the opportunity to get a good education so s/he can reach the American dream with hard work and sacrifice that should be enough. Perhaps you live in a different country than I but I haven't seen govt work well or not waste billions EVER! As for people with wealth, 80% of American millionaires are first generation rich. That means they EARNED what they have and they shouldn't have to cover you, me, or anyone who didn't strive the way they did. Life is not supposed to be fair. It's supposed to offer opportunity and a safety net (only) for those who have temporary problems. Debt will bring down this country. It will also make people lazy. We didn't become a strong country based on your reasoning and we shall NEVER be strong again as long as people believe they are owed more than the basics. You are not entitled to what the baseball player makes. He is a commodity who brings money in! And he chose to play. He was born with a gift. He also gets taxed higher than you and I and he's one of the ones that keeps this country going so Obama and others like him can spend/waste us into the ground. He owes YOU nothing other than paying his "fair" share of taxes. We need the Fair (consumer) Tax now, but we'll never get it because that would put Washington out of business. If you want the TRUTH about taxes please check out the Tax Foundation's website. Then cry over how much states get for its citizens and then waste! I've worked for state and county govt and the waste along w/the $ that lines the pockets of administrators is DISGUSTING!

FLNonny of FL 10:29AM July 25, 2009

The young people should vote liberal, of course. Nobody but government (via far-left liberals) is going to solve their health care cost problems. We're in the thick of that right now. Press on.
Nobody but liberals in government is going to re-steepen the income tax at the high end either. This is absolutely necessary, of course, so that the federal government is not broke. You think it's okay there in New York for the guy in this article to be stuck in an apartment while A-Rod gets hundreds of millions taxed below 40% to play baseball? And the government is so broke it borrows from China? Are we nuts? It ought to be 80% at that level----so that the excessive compensation of hundreds of millions is not paid in the first place---and you could afford a Yankees ticket.

Muser of NM 5:00PM July 21, 2009

There's a concept in psychology called "positive illusions," which is typically a useful pattern that helps us stay mentally healthy. Basically, people who have positive illusions about themselves and the world are more likely to be optimistic and cheerful rather than pessimistic and depressed.
However, as I point out in my 2008 book No Sucker Left Behind, when it comes to finances, positive illusions can be dangerous. Instead, it's critical for young people to have realistic expectations for their financial future.

Author, No Sucker Left Behind of NY 3:55PM July 21, 2009