Whether you’re a dedicated DIYer or prefer to lean on professional guidance, the truth is clear: smart financial planning can save you a lot of money over time. Below, I’ll share some recent examples of tactical planning moves I participated in, including how much money was saved. COVID Panic In March 2020, you could be […]
After a recent podcast episode, a listener asked me to expound on debt’s “silent assassination technique.” Debt is not a cobra that unexpectedly strikes from the undergrowth. It’s a python you stupidly take out of the cage and allow to slither around your torso until you suddenly realize it’s squeezing harder than you can handle. […]
It can be fun to ponder the details of your specific portfolio allocation. Should it be 70% stocks? 75%? Maybe even 80%?! We had a terrific question from reader “Vince” about just this idea: Winning the Game: Retiring at 57 with $4.2M Those conversations move the needle and are essential to an overall financial plan. […]
The bachelor party decided to go to the casino. I happily went along for the ride. The behavioral finance nerd in me was ready to witness fascinating behavior. Gambling can certainly be entertaining, but it’s not financially savvy. As long as you know that, you’ll be ok – albeit a little lighter in the wallet. […]
In August 1979, Warren Buffett wrote an article for Forbes attacking the herd instinct of investors. The late 1970s were tough for the American economy, and the stock market reacted harshly. Buffett wrote, “…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually, is […]
Friend-of-the-blog Anthony is a personal friend who read my very first articles when I shared them on Facebook. He’s seen The Best Interest grow over time. A couple of years ago, I told him that The Best Interest wasn’t what I wanted it to be. I felt directionless at the time, and was considering hanging up […]
One of Charlie Munger’s famous speeches is “How to Live a Life of Misery.” Rather than tell graduates how to live happily, he delivered the opposite message. Because if you avoid life’s surefire miseries, what’s left but happiness? Right!? Munger was famous for quoting famous mathematician Carl Gustav Jacobi (as in, “Jacobians” in vector calculus) […]
I’m drafting this on August 5, 2024. The S&P 500 is down about 8.5% over the past three weeks. Headlines are screaming at us. CNBC is throwing a fit. Our bowling partner just posted an apocalyptic warning on Facebook – stick to bowling, Frank! But the seasoned long-term investors remain cool as a cucumber. Or, […]
Caleb writes in this week with a SPICY question. The answer surprised me. It might surprise you too. Jesse – I work for a small company that does not currently offer a 401(k) match. Do the numbers still suggest I should utilize it? Caleb What Are We Comparing? We need a point of comparison. If […]
You need to understand your willingness, need, and ability to take portfolio risks. It’s an idea that straddles the line between personal preference and objective truth. Let’s break down each of the three constituents, then put it all together with an example. Need Your need to take risks relates to the amount of objective investment […]
