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Saving Extra Money
The projections of the Wizetrade software are almost identical to charts of moving averages. Moving average data is free and up to date on Yahoo finance while Wizetrade charges almost three grand. I haven’t spoken to one serious trader that relies on this type of software to manage a successful portfolio.
Prices start around $1000 and can go up to $10,000+. They try to keep the cost a secret until you attend one of their workshops, then you get the hard sell According to their SEC filings they have graduated over 320,000 and only about 1/3 (98,000) are still Investor Toolbox subscribers. Huh?
The only people that make money from these are the people that sell them to you. If you can afford $3, I'll link you to the scientific approach to trading the market. It takes all the emotion out of buying and selling, and teaches you bankroll management. What have you got to lose? Oh yeah, thousands of dollars on software that doesn’t work!
I used an Excel based mortgage spreadsheet to see how the life of my mortgage would change if I paid a little more each and every month to the principal. It amazed me! By paying just an extra fifty dollars a month, I was able to shorten the length of my loan by five years and ten months and save more than $18,000 in interest!
Take me as an example. I have paid in $69,058 as of 1/1/2011. This includes the employer portion back in my wage slave days. Assume I could request a check for that amount right now.
Assume I live to 75 (male life expectancy from wiki) and retire at 62. I would receive $828 every month for 156 months. That is $129,168.
Differnce of $60,110. Over the next 20 years, 74 million boomers will retire. Total cost differential = $4,448,140,000,000!!!!!!!
Thinking of chucking it all and retiring early, long before you start getting a pension or Social Security, and before you have ready access to your 401k and IRA?
Better run through this calculator and get a dose of reality. http://www.firecalc.com/