Education
The View is Better Outside of the Hole
The view is better outside of the hole. Avoid the debt hole. Know your credit score and how to (and not) use a credit card.
Wealth is Equal to Net Worth …BUT… not all Net Worth is Equal
Net Worth equals Wealth but not all Net Worth is equal. The amount and type of debt and the type of assets makes a big difference to your Financial Security.
Everyone Makes Mistakes And An Openness To Continuous Learning Will Help You Make Fewer Of Them
In hindsight, many (not all) mistakes can be avoided by learning and being prepared.
Financial Security: The importance of covering the costs of your Basic Needs
Understanding the costs of your Basic Needs is the first step towards achieving Financial Security.
A first hand diary of Benjamin Roth who documented life in Youngstown Ohio during the Great Depression: The Great Depression: A Diary
Reading the actual notes from Benjamin Roth's diary gives a first hand view of how such a difficult period in US history impacted daily life. You feel as if you are living the experiences as you flip each page. This book will boost your sense of gratitude and empathy. As with all books, check out your library first.
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.
A Website and Videos: USA Facts.org
If you are eligible to vote in the US you should do so. How you vote is based on your own values and personal priorities. Future prosperity will be influenced by public policy and how our elected officials vote on a wide range of important issues. Steve Ballmer, has founded a non-profit to consolidate US government data in important areas such federal debt/deficits, immigration, healthcare, etc. You can visit the site or sign up for a weekly newsletter. Just the facts...you make your decision.
Recent Posts
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.
Better decision making improves your life
Improving your ability to make decisions that lead to your desired outcomes is worth the effort. Including probabilities into decision making increases the number of good outcomes in your life.
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.
Diversification wins in the long run
Capitalism, a Free Market and Creative DestructionBy Bob Peters || May 20, 2023The lifespan of a business is fragileWhen you invest in equity securities of businesses by buying either an individual company stock or a low cost, highly diversified Exchange Traded Fund...