Blog: Matthew Gates

Bad Investments And Wasting Money

Have you ever thrown away money? Possibly on nothing? Yeah, me too. I've thrown away money on various food items, as I love to test taste them. I have thrown money into the stock market, only to have lost it the next day. I've spent too much money on water. I've spent too much money just by going out. I've even spent too much money on my ex-wife for the very purpose of keeping a civil friendship — and we don't even have any children together.

The fact is, for every dollar not saved for retirement, is a dollar not put away for your older self. How much could you really need during retirement? Well, your spending habits are unlikely to be that of a millionaires' lifestyle. What if you aren't putting a dollar away towards your retirement? For the most part, if you are working on the books, the government is putting some money away for you. Thank goodness for Mr. President Franklin D. Roosevelt and those who began drafting it years before him.

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Gambling In Retirement

Do you ever wonder happens to the gamblers in retirement? It's very likely they are actually still gambling. Some of them quit cold turkey and never have the compulsions again, with lots of help from friends, family, and therapy, or a great money loss. Working in my mid-20s at a liquor store in downtown Chicago, showed me a side of Chicago that not many people get to see. I got to see young and old alike, poor and wealthy. Everyone has their addictions and a liquor store usually holds thousands of them.

I did see a 62 year old man we called Mr. Green, who walked into the liquor store every morning, afternoon, and night. He was a homeless man who was graceful, accepted his choices in life, from his first sip of the MD 2020 bottle, the green one, as is what earned him his nickname. He would never drink anything but the green. He was a guaranteed source of at least $10 a day, drinking anywhere from 3 bottles to 6 depending on how much he made from being out and begging all day. There was a time where he did piss himself and tried to hand off those pennies. We did not allow it.

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Knowing When To Quit

The interesting thing about all of us is that those who think about retirement the most are probably the ones going to retire well. If you don't think about retirement, then how would you get to where you want to be? However, not thinking about retirement is okay too. If you're unemployed for a while, or just needed a year or two off from work and had the humble help of friends, family, or even money you put away. You might not need to panic at all if you couldn't find work for a while.

Throughout your life, if you must, to "get on the records", work with a social security number that helps pay you during your retirement. It will help that you have something type of work ethic to be seen. If you have this much, you probably shouldn't worry too much about quitting your job if you wish. Don't let the worries of retirement prevent you from quitting. You'll either get another job with benefits, or your new company will open up a new 401k, while your old money sits in an account with the company.

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Unusual Investments For Retirement


Most people saving for retirement believe they have to put away money into the stock market or invest in real estate. There are many people who sock away what they can into a 401k or an IRA which is meant to be a nice addition to compliment the social security checks that will also be coming in during retirement. However, there are some things that people, including you, could do for different kinds of investments that may or may not give you a good return over time. This also depends on whether you can find the right target audience or collectors who are interested.

These things usually involve collecting very unique and specific items that can help you run a small business or even sell during your retirement for extra money. For example, although the husband passed away from cancer many years ago, he left his family with a Toy museum that attracts hundreds of people every month to visit in New Mexico. It is called Tinker Town ( ) and holds some of the world's most unique toys from the 1700s, 1800s, and 1900s. The man spent his life traveling the world and buying unique toys from all over. He returned home and eventually built a museum showing off his collection. His wife and family continue to run the place and charge about $10 or $12 for admission. If you ever get a chance, it's a small side attraction, but its very unique and fun to see.

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How To Pay Down Debt


You may have borrowed some money, maybe you have student loans, or you just took on a mortgage and are wondering, "How do I pay down debt quickly?" That usually depends on your salary. There are no real shortcuts, especially when you are paying down debt with interest. There are ways, however, to focus on debts that are more costly and pay it down faster. If you are willing to make the sacrifices necessary to do it, you can pay down your debts as quickly as you want as long as you are realistic with how much money you can send towards paying down your debt.

Paying down debt quickly usually requires some sacrifice, but it hardly means you have to give up your lifestyle. For starters, hop on Credit Karma or look up a credit card offers with a $0 annual fee or ones that offer a transfer at 0% for 12 - 18 months. There are also specific loans designed to help pay down debt faster, such as a company that specializes in student loan debt, and instead of paying 5% or 7%, you'll end up paying 3% or 4% which can save you thousands of dollars every year.

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