Showing 36 posts by,

Maureen McGuinness

Lottery win? Big inheritance from a great aunt? Receiving a windfall is something we’ve all dreamed about at least once. Getting rich quickly gives us the freedom to leave our job and spend more time on other fulfilling activities. Retiring early doesn’t just mean giving up work (after all, we may find our jobs fulfilling). It means having 100% choice in how you spend your time. It means choosing whether to stay at your job or not. Chances are yo [...]

Automatic enrolment, a Government initiative to help more people save for retirement through a pension scheme at work, will be celebrating its 5th birthday later this year. Research by the Department for Work & Pensions found in 2015 that three quarters of eligible* employees were participating in a workplace pension. 36% of all participating eligible employees were women which reflects not only the difference in earnings and working patterns [...]

A few months ago, I found myself browsing through an online store for bedding. I’d decided that I was due a new set of bedding because one set was coming up to being 10 years old. Whilst trawling through my options, I started by looking at the cheaper ones, but then became distracted by the more expensive bedding. I noticed I was justifying the cost with “quality comes first.” A far cry from my thoughts 10 years ago when I purchased the old set i [...]

It can be difficult knowing where to begin with personal finances. What are the most important concepts that can help you be better with money? How does an understanding of diversification help you grow wealth? What’s the relevance of your FICO score? Does inflation have a big impact on your day-to-day activities? All of these questions and more are answered in Maureen’s latest course Personal Finance Concepts on Highbrow, an email-based educatio [...]

Earlier this year, my dad had a routine operation to remove a hernia. We all knew he would be fine, but he was convinced the worst would happen. I’m glad he wasn’t right, but one good thing about his pessimism is that it got him to write his will and have the ‘talk’ with his family. In the past, I’ve spoken to colleagues and friends who have faced legal complications in their families after the death of a relative. One of their sibilings contest [...]

What would you do if you needed to pay $500 upfront for an emergency today? Could you do it? How would you pay for it? According to a survey by Bankrate, 63% of Americans do not have enough in savings to cover a $500 emergency. To pay for it, they said they would cut back spending in other areas, charge the expense to a credit card or borrow funds from friends and family. When I look around me in London, I wonder whether the same could be said of [...]

This is an excerpt from Your Money, Your 20s, a concise ebook on building wealth. Read the full book here. “I’m just bad with money,” a friend said to me in 2007. At the time, I sat quietly and smiled to show my empathy. I didn’t agree but I also didn’t know how to respond. I knew she wasn’t bad with money. I just knew that she didn’t always act in ways that kept her bank balance healthy. Nearly 10 years later, I know that it’s not about being g [...]

In December 2015, I had been unemployed for two months. After five years of working in two corporations, I decided not to look for new employment when my fixed-term contract ended. I did what most people do when they ‘escape’ the corporate world, I went travelling. I had one month and one country, Japan. In a way, going to Japan was my way of going full circle. I was born in Japan but moved to England as a baby and grew up in the UK. I’ve spent m [...]

Quora is awesome. Like YouTube, one innocent click of a question can lead to hours of scrolling through responses and reading through other discussions on the same subject. One of the best aspects of Quora is that it gives everyone a chance to air their thoughts. Entrepreneurs, billionaires and your average Joe come together to help others make sense of their most pressing questions about life. Below I share my favourite advice from the last few [...]

Waking up early, finishing late, deciding what to eat for lunch, learning the ropes of your role and a paycheck. When you start your first full-time, permanent job you’ll experience all of these. But, there’s one experience that 20-somethings should be most excited about: earning compound interest. Compound interest occurs when, first, you earn interest on your savings and then earn interest on the interest you just earned. Similarly, when you ta [...]