Millionaire Next Door: Here’s a Better Rule of Thumb
One of my favorite personal finance books of all time is the one that was written by the late Thomas J. Stanley, The Millionaire Next Door (published in 1996). The bestselling book identifies common traits that show up again and again among those who have accumulated wealth. The surprising finding …
Have No Fear, Market Crashes Will Always Be Here!
While I don’t believe that a bear market is coming, one big lesson from the last two recessions is that it can’t hurt to be prepared. Crashes will always come and go. Whether it’s six months or six years from now, nobody knows. The prospect of me becoming a thousandaire …
When the Lender is a Slave to the Borrower
You’ve probably heard Dave Ramsey say this many times before, “The borrower is a slave to the lender.” The quote was taken from the scriptures. That’s exactly what I had in mind when I decided to lend my sister $14,000 last summer. Finally, I can ‘enslave’ my annoying sister, who …
Thoughts About Bitcoin
I’ve recently started a Facebook group for this blog where members are encouraged to ask any question about money. Out of the blue, one member asked about Bitcoin. In an effort not to monopolize the forum, I waited several hours. But nobody was keen on answering the question. I eventually ended up …
Aw, Snap! (I should not have bought the stock)
Buy what you know, and stick to companies with good long-term prospects and quality management– are three well-known rules that the famous investor, Warren Buffett, follow when buying stocks. None of these rules I followed when I bought 200 shares of SNAP when it went public last week. The purchase was done …
Your Spouse Will Have the Greatest Impact to your Financial Well-Being
With Valentine’s Day just a couple of days away, I’m feeling the pressure to come up with something really special for my wife. Traditionally, it would be fresh flowers— a bouquet of red roses to be specific. In the past, I hated buying flowers. I’ve always thought of it as …
The Real Cost of Buying that 65″ TV
Earlier this morning, I sold a mutual fund that I held for 15 long years– Laudus International MarketMasters Fund™ (ticker symbol SWOIX). As the name suggests, the fund invests in shares of companies outside the United States. It falls under Morningstar’s “Foreign Large Growth” category because the fund manager’s focus is …