Believe it or not, the rules on debt and credit are brain-dead simple. Yet, it has become the biggest personal finance problem for most people. How can something so simple create so much difficulty? In this article I explain the deceptive nature of debt problems, the simple rules to keep you out of trouble, and the best solution if you already have debt or credit problems…
The Smart Consumer’s Guide To A Sane & Affordable Holiday
I don’t get the whole “Black Friday” thing. It strikes me as the height of consumer insanity.
Truncating my holiday family gathering to rush out at a ridiculous hour in the morning so that I can join crowds of other insane people battling to spend money they don’t have on things they don’t need makes no sense to me.
But hey, maybe I just don’t “get it”.
I don’t believe that’s what the holidays are all about.
Below is my brief take on trying to keep sane during the holidays and find some joy in the process…
Pay Off Debt Or Build Wealth? What To Do First…
Patty inquired… “I am aching to be free of my debt, and at the same time, I’ve been struggling to put 10% of my monthly income towards savings, and another 10% towards my IRA. Which should I do first? How should I prioritize? Find the answers here…
The Minimalist Guide To Financial Planning
Believe it or not, financial planning is so simple it’s ludicrous. Spend less than you earn and invest the savings wisely. After you retire then just spend less than your investment income and invest the savings wisely. That’s it. Seriously! Anyone can do it. It’s so simple it’s a joke… except for one minor, little detail…
Can I Actively Trade My Way Out Of This Economic Mess?
A reader asks, “…I’m an architect suffering under this dreadful economy like so many of us are, and I need to do something to help carry me through… What I’d like to do is use a portion of my IRA funds to educate myself further in the investment arena, pay back the loan, and use the remainder of the IRA to actively invest for income and growth. In other words, keep a portion of the earnings to supplement my income and reinvest the rest for growth. Does that sound like a reasonable idea?” My short answer is…
How Do You Know If You’re Living In Financial Integrity?
You are living in financial integrity when your daily actions are congruent with your financial plans and the principles that lead to wealth. Why should you care? Because one path results in wealth and the other results in financial mediocrity. For example, you are out of financial integrity if…
Should I Buy Insurance From A Commission Salesperson?
The question of the week comes from a reader who asks, “Do you think the only kind of advisor one should hire is a fee based one? I was told by a commission person that when they have a client buy an insurance policy they HAVE to take a commission. Is this true?” To answer that question we must expand the discussion to make some important distinctions that will allow you to make smarter investment decisions…
What Causes Inflation And Why Should You Care?
For the first 400 years of our economic history inflation was benign at under one percent and then suddenly in the last 100 years it jumped dramatically. What caused the sudden and abrupt change in inflation? Simple – the Federal Reserve bank was established. Why should you care? Again simple, because inflation changes everything…
6 Steps To Recover From Financial Disaster
If you’re suffering from a serious financial setback recently don’t worry – you’re not alone and there is a solution. In fact, your path to recovery and prosperity is well worn with proven action steps. So let’s get started with the six steps you need to recover from financial disaster…
6 Ways To Profit From An Economic Downturn
Smart wealth builders know how to make the best out of a bad situation. The natural and easy response during an economic downturn is to become despondent – but “natural and easy” is seldom profitable. Even in a recession you can find clever ways to extract economic advantage and position yourself for the next economic recovery if you just know what to look for…
