Which Types Of Savings Accounts And Strategies Make The Most Sense For You?
The second installment in our 10-part series covering personal finance & investing basics comes to you from Barcelona, Spain. Expect a very detailed on-the-ground report from here in the next few days with a blow by blow of our spending.
By then we should have already gone natural wine bar hopping with and and made a grocery store visit or two to conduct cost-of-living comparisons between Spain and the United States.
Let’s pick up where we left off on Thursday—
As someone who will Never Retire, I don’t have a large retirement nest egg. Priority number one with the money I’m saving is to accumulate enough of it—along with my wife—to buy an apartment in Spain for cash or close to it within a few years.
Once we do that, I’m open to the idea of probably not one of these retirement accounts (I can’t have one in Spain anyway), but traditional (and often complex) saving and investing tools that can help me organize, manage and grow my money as we head into relative old age, ideally with no or a low housing payment and low overall cost of living.
It’s this type of saving and investing we’ll detail—with the help of my CNN work—in many of the nine forthcoming installments in this February series.
Today, we begin with a few savings tools and clearheaded, practical distinctions between the different types.