Education
Embracing a Total Cost of Ownership Mindset will be helpful
Many folks underestimate the total cost of owning an asset after the initial purchase. Whether its a car, a home, or an “experience”, you will be well served to have a total cost of ownership mindset.
Health Savings Accounts can be awesome for your financial security
The Government currently gives you an investment vehicle that is second to none. If you can take advantage of an HSA you should certainly do so.
Watch out for Buy Now Pay Later offers
Buy Now Pay Later programs should be avoided because the downside risk is greater than the short term dopamine hit of the purchased item. Just because you can, does not mean that you should.
Insurance: Why it’s important and things to consider
Paying for insurance can seem like a waste of money as months or years can go by without ever making a claim. But insurance can save you from financial ruin so its important to include in your budget
Integrity, Trustworthiness and serving your Best Interest matters
Being a trustworthy person of the highest integrity will serve you well in life. Should you ever consider utilizing the services of a Financial Advisor expect them to always serve your best interest.
Financial Literacy increases your wealth and the Importance of Simplicity
Research has shown that being financially literate can increase your net worth by 30-40%. Don’t let the Perfect (Complexity) be the enemy of the Good (Simplicity).
Money, your life partner and common values
You and your life partner need to be on the same page when it comes to the decision to have combined or separate accounts. Trust, share and communicate.
Understanding Geopolitics and History will make you a better investor
Geopolitics will shrink the pie and understanding history will help you become a better investor
A Book elaborating on the University of Texas 2014 Commencement Address given by Admiral William H. McRaven: Make Your Bed, little things that can change your life and maybe the world
This exceptional man, a retired four star Admiral who led the Navy Seals, recounts the 10 principles he learned in Navy Seal training that helped him overcome challenges and adversity. The book is a quick read and the video of the actual Commencement Address will give you goose bumps. Over 10 million viewers have seen the video.
A book: Thinking Fast and Slow, Daniel Kahneman
The 2002 recipient of Noble Prize in Economic Sciences was an early academic pioneer to explain how human brains are wired for Fast (System 1) and Slow (System 2) processing and how these systems impact financial decision making. Kahneman gives you practical ways you can be better armed against the human brain mechanics that can result in poor decision making.
A book: The Geometry of Wealth: How to shape a life of meaning, by Brian Portnoy
Brian Portony, PhD and CFA, is a well respected academic and author in the field of behavioral finance. This is not a get rich quick read. Rather, Portnoy takes you on a journey to think about how money overlays into a joyful life. Portnoy covers off on the difference between Experienced and Reflective happiness which grounds all of us, regardless of our individual financial circumstances.
A Podcast: Rules of the Money Game, The Morgan Housel Podcast
I'm a big fan of Morgan Housel and highly recommend reading his book, The Psychology of Money, as well as bookmarking his Podcast. The link above takes you to his 3rd podcast episode where he discusses his top 30 rules of the money game...good stuff. Enjoy.
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Time: The same investment can be either risky or prudent
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One man’s discovery of enough wealth
Money, up to a point, can positively impact happiness. How much is enough. This is a story that will help you think about this question.
Embracing a Total Cost of Ownership Mindset will be helpful
Many folks underestimate the total cost of owning an asset after the initial purchase. Whether its a car, a home, or an “experience”, you will be well served to have a total cost of ownership mindset.