From Diapers to Diplomas: Tips on How to Fully Fund College Using 529s
As a parent of a recent high school graduate, discarding junk mail from overpriced colleges and universities across the country has become my new hobby. These institutions relentlessly compete for my hard-earned dollars—or rather, dollars they expect my daughter to borrow from opportunistic lenders who seek an unfair slice of …
Excessive Investment Fees: Is Your Portfolio Being Feasted Upon?
One of the most entertaining scenes in the movie ‘Wolf of Wall Street’ is when Mark Hanna (played by Matthew McConaughey) explains to new recruit Jordan Belford (Leonardo DiCaprio) how stockbroking business works over lunch of martini and cocaine. “F*** the clients. Your only responsibility is to put meat on …
This Is What It’s Like to Get Hitched On The Cheap
I was listening to a Dave Ramsey podcast episode on my way to work when a caller asked: what’s a reasonable wedding budget for a couple on Baby Step 2? That’s Ramsey-speak for someone still trying to pay off debt besides the mortgage. And, one of the co-hosts, George Kamel, …
Why I’m Saving More in a Taxable Brokerage Account, Maybe You Should Too
Ever since I paid off our mortgage, I’ve been buying a mortgage worth of stocks in my taxable brokerage account. Now that I’m inclined to retire early, I plan to stash even more into this third bucket I proudly refer to as my “war chest.” Sure, every budding early retiree …
Dave Ramsey is Right. Pay Off that Stupid Debt Before Chasing that 401(k) Match
When it comes to paying off debt, there’s only one name that comes to mind: Dave Ramsey. For decades, he has taught millions of people through his podcast and radio show, a process for getting out of debt and building wealth, which he calls the “Baby Steps.” He has helped …
Introducing… MB50 Financial Independence Calculator
How can you tell if you’re Financially Independent? There are a lot of misconceptions about this subject. Your 21-year-old who left the house for good is nowhere near F.I.— He simply transferred his dependence from you to his employer. Being a multi-millionaire won’t necessarily make you financially independent either. Financially …
End of the Year Question: What is Your Retirement Number?
If I were to pay you to quit your job, how much would it be? Is it $1 million, $3 million, or nowhere near these numbers? Many think you can no longer retire with $1 million because of inflation. This may or may not be true depending on your spending …
Why You Absolutely Don’t Want to Miss the Best Days
The past 90 days were particularly exciting if you’re a stock market investor. It reminds me of the Hershey Park roller coaster I was compelled to ride to accompany my 10-year-old nephew. It was a terrifying experience, but not for my nephew, who was having a blast the entire time, …
Is it Better to Visit a Dying Loved One or Just Attend the Funeral?
As I write this, I’m at Hamad airport in Qatar awaiting my flight to Manila for the third time this year. The last one was less than a month ago primarily to see my dying father alive for the last time. Then he actually died, which prompted me at the …
Why I Bought My Wife a Hybrid Toyota Corolla and Not an Overhyped Tesla
For many years, my wife had been driving a 2008 Honda Pilot. We bought the SUV in 2009 as a people hauler, back when my in-laws and eldest son were living with us. We also needed a dependable car to drive all seven of us to church on Sundays. Now …