Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books
Amazon.com
Sweepstakes
Free Sweepstakes
Web Domain Registration
Go Daddy $12.99 Turbo SSL Sale!
Trusted by over 7 million customers!
Banner
Get Started Now
GoStats stats counter
GoStats stats counter
Search Engine Submission
Search Engine Submission - AddMe
Free Search Engine Submission
Free Search Engine Submission
Free Search Engine Submission
Free Search Engine Submission
Tuesday, October 30, 2007
Millionaires in the Making - Frank Furbeck and Trudi Morris
The CNNMoney.com article discusses the finances of a couple in their 40s, Frank Furbeck and Trudi Morris. With a combined salary of $119,000 and two teenagers, they have managed to accumulate:

Online account: $2,500
Savings account: $2,000
CD: $2,000
Home and land: $250,000 estimated value
Deferred compensation: $267,000 combined
Roth IRA: $2,000
529 plan: $16,400

Frank, a systema analyst, earns $83,000 per year while his fiance', Trudi, makes $36,000 per year. Each of them contributes to their deferred comp plans to the max, putting in $15,500 annually. The couple carries no credit card, auto or home debt. The couple leads a comfortable life, without excessive spending or saving. Frank attributes his saving habits to what he learnt early in his life:

"[A man] told me that every time I get a raise I should put that money into my deferred compensation, and I will have something,” Furbeck said. “He was right."

Despite having good combined salaries and savings, the couple is not shy about using coupons and carpooling to work to save on gas. In addition, since both of them are divorcees, they don't plan to spend extravagantly on their wedding.

"I saw my mother struggle with credit cards, and I didn’t want to go that way," Frank said.

For complete article, see:

CNNMoney.com: Millionaires in the Making: Frank Furbeck and Trudi Morris


Comcast High Speed Internet- $125.00 Cash Back & Free Modem  Best Deals for Business DSL

Labels:

posted by Ruby @ 7:59 AM  
0 Comments:
Post a Comment
<< Home
 

See important Disclosure and Disclaimer

Favorite Quote
"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
                - Author Unknown
Disclosure
This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.
Reward Surveys/Panels/Shopping/Contests
Kellogg's Coupon Newsletter
Mint.com - Take Control of Your Money
Protect Your Computer Files
Upromise.com
Job Search site
Indeed Jobs
Yahoo! HotJobs - Job Postings
Monster
CareerBuilder
Credit Cards
Best Western Canada Credit Card - 20,000 rewards points: Apply Now!
Apply Now!
Insurance
Health: eHealthInsurance
Auto: www.21st.com
Travel
Phone Service
Investing
TheStreet.com 120x120 Best Seller Giveaway
Household
eFaucets.com
Babysitters
Nannies4hire.com
Find the perfect babysitter at Sittercity.com
Previous Posts
Archives
Favorite Charities
Disclaimers, Privacy Notice and Disclosures
  • Disclaimer, Privacy Notice and Disclosures

  • Third-Party Offer Disclaimer
  • Subscribe to Blog Posts
    Add to Google Reader or 

Homepage
    Bookmark this blog site
    Contact Me

    Email

    Web Site Link Exchange

    Link Exchange

    © Thoughts And Riches proudly powered by Blogger.