How to Save Money on Taxes
Taxes are an unavoidable part of life, but there are ways to lower your tax burden. In 2020, there was a plethora of new legislation and law changes that could change your next tax bill. It’s important to know how those changes affect you and how to optimize your tax strategy. Here are the best […]
Read More
What Is the Safe Withdrawal Rate for FIRE?
For retirees, the withdrawal rate is the amount of money taken out of their portfolio each year for living expenses. Withdrawals may be required, in the case of required minimum distributions (RMDs), or they may be dynamic (if the market is down, it may make sense to withdraw less from your portfolio). A safe withdrawal […]
Read More
How to Buy a New (or Used) Car
Cars are one of the few purchases you’ll make where there is normally an element of bargaining involved to get the best deal. Some car manufacturers, such as Tesla, have eliminated bargaining from the process almost entirely, but if you are buying a new (or used) car, chances are you’ll need to negotiate to score […]
Read More
Are You Ready to Be Wealthy?
Are you ready to be wealthy? That may seem like a silly question; after all, who isn’t ready to be wealthy? To build wealth properly, though, you need to be ready. If you aren’t in the right mindset, or don’t have the proper discipline, you won’t be able to build wealth no matter how “ready” […]
Read More
How to Pay for College
College can be expensive even if you’ve done a good job saving for it. Parents cover about 23% of college costs, and the remainder is the student’s responsibility. Or, in reality, it’s usually up to the parents to help the student figure out how to pay for college. There are many different ways to pay […]
Read More
Timing the Market Is Even Harder Than It Looks
Timing the market and investing (or pulling everything out of the market) at opportune times is an extremely difficult, if not impossible, task to accomplish. Average investors consistently underperform market indices, and even professional fund managers lose to their respective benchmarks most of the time. Average investors and professional fund managers both have a difficult […]
Read More
How to Master Wealth Creation
Building wealth is surprisingly simple, but it isn’t easy. There aren’t really any “secrets” to creating wealth, and if anyone is offering a shortcut or get-rich-quick sounding scheme, they’re probably just trying to make a few bucks. We think there are three basic ingredients needed to create wealth: discipline, money, and time. Let’s jump right […]
Read More
What Good Financial Influencers Have in Common
There is no shortage of financial influencers today, whether on YouTube, in the blog space, those podcasting, or on other forms of social media. Unfortunately, not all influencers are a force for good, and it can be difficult to tell who to listen to in this crowded landscape. There are several characteristics most positive influencers […]
Read More
Fear Mongering of the Financial Media Explained
The news of today is designed to generate as many views and clicks as possible by exploiting our fears and biases. One famous example is the teaser, “What’s in your tap water that you need to know about?” Almost everyone uses tap water in some capacity, and would definitely want to know if anything is […]
Read More
How Will the Election Affect Your Finances?
Every four years, the United States votes to elect a new House of Representatives, one-third of the Senate, and potentially a new president. The two political parties have different agendas, and policies implemented with new representatives and a new administration will affect your financial life. It’s normal to feel anxious or nervous about the election, […]
Read More
