Web Hosting Talk : Other Forums : Web Hosting Lounge : The Obama's personal finances

[Mike - Limestone]

This was posted earlier today in a blog that I read. It's pretty interesting.

http://www.freemoneyfinance.com/2011...age-money.html

-mike

[pphillips]

Interesting read. One thing is for sure, Presidents never have to worry much about money, there's always a speaking engagement or a book to write once they leave office.

[JustinTiburon]

eh, imo hes over paid as it is.

[MichelleH]

Originally Posted by JustinTiburon

eh, imo hes over paid as it is.

This is true of many people in the world today. Being overpaid isn't the only way to be debt free, it is important to know how to handle your money or hire someone who does. Personally I know several people who make millions of dollars every year and still have no money and lots of debt.

I myself have taken advantage of self-employed contractor status and invested in a SEP-IRA and a College Savings 529 Plan for my kids, along with several investments through Oppenheimer

I started accounts for my kids when they were born so they will have plenty of money for college when the time comes.

I guess budgeting and finances were one thing my parents always talked to my brother and I about. Now we are both in our early 30s and my plan is to retire by 45 and travel the world. As long as nothing drastically changes in the next 10 years, this will not be a problem for me!

[JustinTiburon]

Originally Posted by MichelleH

This is true of many people in the world today. Being overpaid isn't the only way to be debt free, it is important to know how to handle your money or hire someone who does. Personally I know several people who make millions of dollars every year and still have no money and lots of debt.

I myself have taken advantage of self-employed contractor status and invested in a SEP-IRA and a College Savings 529 Plan for my kids, along with several investments through Oppenheimer

I started accounts for my kids when they were born so they will have plenty of money for college when the time comes.

I guess budgeting and finances were one thing my parents always talked to my brother and I about. Now we are both in our early 30s and my plan is to retire by 45 and travel the world. As long as nothing drastically changes in the next 10 years, this will not be a problem for me!

Wow, looks like your all set, kinda wish my mom had done that for me. However, I would like to think that I am in some kind of decent shape. The day I turned 21, I started a 401k plan, I have savings accounts, but thats about it. I just hope that there is something left for my generation when I get to that age. Being only 23, doesn't look to promising

[MichelleH]

Originally Posted by JustinTiburon

Wow, looks like your all set, kinda wish my mom had done that for me. However, I would like to think that I am in some kind of decent shape. The day I turned 21, I started a 401k plan, I have savings accounts, but thats about it. I just hope that there is something left for my generation when I get to that age. Being only 23, doesn't look to promising

I am certainly not counting on it and I have 9 years on you. I remember hating my mom at the time when I was 16 and working.. but now, 16 years later I can't thank her enough for all she taught me.

[Mike - Limestone]

Originally Posted by MichelleH

I myself have taken advantage of self-employed contractor status and invested in a SEP-IRA and a College Savings 529 Plan for my kids, along with several investments through Oppenheimer

I started accounts for my kids when they were born so they will have plenty of money for college when the time comes.

Very cool. I do much of the same: IRA, solo 401(k) (a bit better than SEP-IRAs in some instances, but not all!), 403(b), etc.

It definitely helps to prepare for the future...

-mike