background preloader


Facebook Twitter

Behind the worst economic recovery on record. The Economist explains: Why does America regulate the trade in raisins? Start-with-10k-retire-millionaire-marketwatch: Personal Finance News from Yahoo! Finance. The 7% solution: Let money and time work for you, no matter your age.

start-with-10k-retire-millionaire-marketwatch: Personal Finance News from Yahoo! Finance

The millionaire next door could be you. All it takes is money and time; it always does. But what this really means is you have to save money over time, and that's where so many of us struggle. Reaching age 65 with $1 million saved requires strong discipline and sustained effort. You need to recognize the importance of starting early and putting money away regularly. It can be done -- even if you start with just $10,000. "Whether you're 25 or 45 or even 55, you've got to start somewhere," said Nathan Dungan, founder of financial education firm Share Save Spend.

Call it a 7% solution. "In order to save, you have to understand your spending," said Eric Kies, a financial adviser with The Planning Center, an investment manager in Moline, Ill. Of course there will be bumps along the road -- potholes, even, that challenge your resolve. 25 Years Old: Starting Out Forty years is a long time. They're missing out, big time. The $1 billion that no one in the United States wants. Dollar coins at the Department of the Treasury, United States Mint in Philadelphia Budget cuts thanks to the stalled economy have imperiled care for the mentally ill, left a new school building unstaffed, and perhaps most disastrously, limited efforts to keep nukes out of the hands of terrorists.

And yet the Federal Reserve Bank of Richmond is sitting on $1 billion in gold dollar coins it says the American public has little interest in using. Two reporters from NPR's Planet Money visited the facility where the coins are kept, in Baltimore, Md., and offer up a report about the stash of funds that the American public doesn't care for, Meanwhile, even as the coins gather dust, American taxpayers are paying top dollar (as it were) to store the surplus--and even to increase it. The surplus of dollar coins is due in part to 2005 legislation introduced by then-Delaware GOP Rep. Mike Castle. (Matt Rourke/AP) Sacagaweagold dollar coinsCongress. The Federal Reserve Stores $1 Billion In Dollar Coins That No One Wants. Hide captionMillions of dollars worth of $1 coins languish in a vault at the Federal Reserve Bank of Richmond's Baltimore branch.

The Federal Reserve Stores $1 Billion In Dollar Coins That No One Wants

John W. Poole/NPR Millions of dollars worth of $1 coins languish in a vault at the Federal Reserve Bank of Richmond's Baltimore branch. Politicians in Washington hardly let a few minutes go by without mentioning how broke the government is. So, it's a little surprising that they've created a stash of more than $1 billion that almost no one wants. Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

On July 12, 2011 Congress sent a letter to Federal Reserve Chairman Ben Bernanke and Richard A. Adventures in Non-Destructive Budget Cutting. By Matthew Yglesias on March 28, 2011 at 10:00 am "Adventures in Non-Destructive Budget Cutting" You can’t balance the budget this way, but you can’t balance the budget by cutting food stamps either and this idea wouldn’t really hurt anyone: Earlier this month, the U.S.

Adventures in Non-Destructive Budget Cutting

Government Accountability Office issued a formal proposal to the Treasury and Federal Reserve noting that if it eliminated the $1 bill and replaced it with the $1 coin, the country could save roughly $5.5 billion during the next 30 years. The reason, according to the agency’s report, is that dollar bills have a shorter lifespan than dollar coins because they wear much faster, which in turn requires the government to spend more to print new bills. Back in March of 2008, Barack Obama seemed to say he favored eliminating the penny which would save almost as much money.

Update CORRECTION — I think I had this backwards on the vending machine lobby. The final nail in the supply side coffin - How the World Works.