We all start somewhere. I remember the day I had $1,000 and thought it would be a good idea to invest it in the stock market. I had a 401(k) and a Roth IRA, so I was familiar with the mechanics of the stock market, mutual funds and index funds, and how everything fit together. I stayed away from the ...

Most people never consider their empty space as a way to generate income. They’re missing out and overlooking a wide range of potential sources of passive income. From houses to storage areas to parking spaces, you may have something people would be happy to pay you to rent. And in doing so, they’ll cover some or all of your monthly ...

Haggling, also known as bargaining, is a form of negotiation two parties engage in when trying to come to an equitable agreement for the price of goods or services. In most parts of the world, haggling is a way of life. It’s not as popular here in the United States as it is in other countries, but that’s quickly changing. ...

Investing can be daunting. I know I didn’t invest, outside of my retirement accounts at work, because I was worried about taxes. At least that’s what I told myself. The real reason was uncertainty. That’s the toughest part about investing – am I making the right choice? Am I diversified? What does that even mean? It wasn’t about education. I ...

Gold. It’s amazing the power it holds on our society. The California gold rush in the late 1840s and early 1850s has been the stuff of lore (if you have a chance to read about it, it’s fascinating). Even today, you can turn on Discovery Channel and watch a show about guys in Alaska mining for gold (I’ve taken a ...

Regular readers here know that the inspiration for some of my blog posts comes from non-financial sources such as youth soccer fields and the Rolling Stones.  In that spirit the idea for this post popped into my head while waiting in line to pay for an item at a local gas station. I noticed the clerk behind the counter restocking ...

I just read a very disturbing piece on 401(k) rollovers Retirees Suffer as $300 Billion 401(k) Rollover Boom Enriches Brokers via Bloomberg.  The piece described some of the tactics used by brokers to entice retirees from a number of major corporations into rolling over their 401(k) balances to an IRA with their firms.  It seems that often these IRA accounts ...

This is post was written by Ike Devji, a Phoenix, AZ-based asset protection attorney and one of my oldest online friends.  I have spoken with Ike many times for advice on client asset protection issues and had the pleasure of meeting him in person a couple of years ago when he spoke to my financial advisor study group during a meeting we ...

Hey everyone, we have good news. FIRE just got a lot easier. Bill Bengen, the creator of the 4% rule, said 5% is a good withdrawal rate in the current environment (2020). That’s great news for the FIRE crowd. Many of us use the 4% safe withdrawal rate as a guideline. We save and invest until our net worth is ...

I’m pleased to say my family just took a vacation during a pandemic and survived. With two young children, it wasn’t exactly a relaxing vacation. It was more like a trip or a business writing retreat. Regardless of what you want to call our trip, I wanted to share some feedback. When the lockdown began in March 2020, I made ...

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