I received incredible news today. This blog has been nominated for Broadview Networks’ Best Finance Blog of 2014 Award! If chosen as a Top Finance Blog, RetirementSavvy will be featured alongside some of the best financial-focused blogs available on the web recounting experiences in frugality, recommending financial tools to use, and general fiscal advice.
Broadband Networks’ objective is to provide a comprehensive list, nominated by readers and staff, which will help their clients and partners glean the best financial information and advice on the web.
As part of the nomination process, I have elected to answer the following question: What one piece of financial advice would you give to our readers?
“Understand the power of compound interest, which is calculated not only on the initial principal, but also the accumulated interest of prior periods. In many ways compound interest is the force that underpins personal finance as a field of study and the practice of retirement planning. Once compound interest is truly understood, other personal finance concepts (e.g. the value of starting early, the rule of 72, the 4% rule, avoiding debt, electing not to take out 401(k) loans, etc.) are tied together and make much more sense.”
I did not write my book, RENDEZVOUS WITH RETIREMENT: A Guide to Getting Fiscally Fit, or plug away at managing this blog seeking validation in the form of an award nomination. However, I must admit that it is quite gratifying. I firmly believe in the idea that knowledge should be shared, particularly knowledge that has the ability to profoundly change lives.
I am most grateful to my readers for their support. This nomination serves as a notice that they responded to my efforts; that they have found value in the pages of my book and our method of communicating on this blog, via Discussions, Quizzes, Recommendations, Interviews, and the Living Frugally series.