The end of the year flies by. One day, you’re eating turkey and pecan pie and taking a well-deserved nap. Next thing you know (or so it seems), you’re counting down the New Year’s clock to welcome 2025. If you’re not careful, the holiday season will fly by (in a sleigh?) before you can do […]
“If all you have is a hammer, everything looks like a nail.” We’ve all heard that phrase, alongside the concept of having “the right tool for the job.” I submit that many people in the retirement planning community (especially online in DIYer circles) do not have the right tools or mental models for including long-term […]
There are a few broad categories that trigger people to reach out to me. Retirement planning is biggest. Major life changes (marriage, divorce, having kids) is a common reason, too. Another one, albeit slightly more unique: “I have a good handle on our finances, but I want to get you involved because my spouse needs […]
Much ink has been spilled on the 4% rule, including here on The Best Interest. The short and sweet definition? The 4% rule is a retirement strategy that suggests withdrawing 4% of your portfolio’s value annually, adjusted for inflation, to ensure your savings last for a 30-year retirement. If you’d like to dive deeper on […]
‘Twas the night before Christmas, etc. etc., and you’re jazzed. Christmas is great! Morning comes, you let the dog out to pee and fix yourself some coffee. Fresh cinnamon buns! Soon it’ll be time to open presents. You bend down low by the Christmas tree, and there, behind the nicely wrapped boxes and doo-dads, you […]
I started a great dialogue with “Carl” in August and immediately felt a kindred lifestyle connection. Carl and his wife, “Colleen,” are about my age, with young children, and they earn a healthy-but-not-astronomical income ($160,000 pre-tax, which puts their family in the ~75th percentile). Carl reached out to share some exciting news: Their family surpassed […]
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. […]
