You’ve seen them. Over and over and over again, so-called personal finance gurus railing against debt. But as I pointed out before, they’re dead wrong (in most cases). That’s why rather than being concerned, I’m actually happy to keep paying 3 mortgages into retirement (2 of which may outlast me)! Why Paying the Minimum on […]
This morning I was going through a morning ritual – reading interesting Medium stories. One was Ed Luo’s “I achieved FIRE at 31 — 5 factors to consider or you might get burned.” An interesting read in general, it included this one line that really resonated: “Our world is materialistic and revolves around mass consumerism, […]
According to Reality Check: The Paycheck To Paycheck Report, 54% of Americans define themselves as living paycheck to paycheck. This may not be that surprising, given the low federal minimum wage, and the fact that a large section of American society is classified as low-income, but not all those who are struggling are on low […]
My colleague Ben Le Fort wrote a really nice piece, How Do You Get Rich? Slowly, and Then Suddenly. That got me thinking. Is it really that simple? As I commented there, I think it’s actually a bit more nuanced than two speeds – slow, then fast. 4 Factors Affect Your Wealth Building There are […]
You may or may not know if you’re a ISFJ or a ESTP, but those are not the personality types we’re looking at here. According to Ken Honda, author of Happy Money: The Japanese Art of Making Peace With Your Money, your money personality type can help you understand your relationship with money and see […]
If you were born to wealthy parents, reading this article is probably a waste of your time. If, like almost all of us, you weren’t, read on… Anyone who’s been reading about wealth knows that rather than income, it’s about net worth – the difference between what you own and what you owe. Building significant […]
If you’re like most of us (or at least most who read personal finance topics), knowing how much it takes to be wealthy is at least somewhat of interest to you. Does a High Income Make You Wealthy? First, we need to be clear on what counts as being wealthy. High income, say 6 or […]
The year after you graduate college is as good a time as any to get your personal finances on the right track. Here are a few things to keep in mind as you do. It doesn’t hurt to keep living like a student The idea that graduating is the start of your adult life doesn’t […]
Personally, I probably spend way too much time projecting our income and expenses for the years between now and retirement, tweaking our plan, and working on our retirement budget. If you saw my massive Excel workbook, your eyes would probably glaze over (my wife certainly does ?). Having said that, there’s that well-known quote often […]