When the lender is a slave to the borrower

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 …

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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 …

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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 …

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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 …

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My wife posing at the Jersey shore.

The Real Cost of Buying that 65″ TV

Earlier this morning, I’ve 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 …

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Financial Planning

Your Household Needs a Year-End Report

Along with rebalancing my portfolio, the other thing that I do with my finances before the year ends is updating my household’s end-of-year spreadsheet. It doesn’t have to be overly complex. Mine is very simple and can be done by anyone who is Excel savvy. I’ve been updating the Excel document …

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Rented lamborghini

Drive Carefully. Don’t Skimp on Insurance.

One of the aspects of wealth building is being able to protect what you have accumulated. Even if you are extremely frugal with no debt, wealth that you have worked so hard for your entire life can be lost in various ways, among them: A natural disaster Medical emergency Ugly …

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S&P 500 vs DOW
About me

I’m Officially a Millionaire After Trump’s Win

I finally reached the millionth milestone after Republican Donald Trump’s win. This is unexpected because I was expecting a market crash. It’s a testament that one should never time the market. Just a week ago, I jokingly suggested to my coworkers to move all their investments to cash, wait for …

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When Buying a Hybrid Car Make Sense

I’ve recently received an email from the Toyota dealer where I bought my Prius from. The email states that it’s due for its 80,000-mile scheduled maintenance. I replaced my Honda Civic with a Toyota Prius C in 2012 hoping to save a ton of money because I have a long commute. My eldest …

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Net worth update

Projecting Your Future Net Worth

Yesterday, I was playfully googling my name may be out of vanity and boredom. In doing so, I happened to bump into an old comment I wrote in 2010 about not being the “richest man in the cemetery.” The post reminded me of three things: My household net worth in April 2010 was $330,000 …

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