Equifax Hack

What you can do after the Equifax Hack. Oh Boy Equifax got hacked. They say 143 million accounts had data stolen. Let's be honest: That basically means every adult who has ever had any kind of credit in the USA has had compromising information stolen. This includes the kinds of personal details used to open accounts …

Tesla Predictions

Some predictions about Tesla and other Elon Musk companies. #1 Tesla will acquire or merge with Elon Musk's promising start-ups We got a preview of this with Solar City. Personally, I was and still am a little skeptical of that acquisition - it felt a bit like a bailout. But, I think we got insight …

Student Debt Hacks

These tricks work for any kind of debt but can be especially useful for student loans. If you have owned your house for a few years and it has appreciated, you may have a sizable amount of equity. Depending on the amount you owe on your student loan(s), the amortization schedule, interest rates, your income, …

Saving for College

I am going to cover the two main accounts people use to save for college and the best places to open these accounts, in my opinion. Coverdell ESA I am starting with the Coverdell ESA (education savings account) because this is the lesser known account for saving for education. The Coverdell allows for tax-free growth …

Preferred Stocks

Preferred stocks have become a popular asset class in recent years. While I think passive investing is the best choice for most people and the evidence shows a majority of active mutual funds and active investors don't beat the market, I do think active investing makes sense for preferred stock. What is preferred stock? Preferred …

Spending Prison

Spending can be like a prison. It’s counterintuitive. People are usually excited to earn more money because it means they are able to spend more. You can acquire more material possessions, eat (allegedly) better food, and so on. Don’t get me wrong, this is true to an extent. Increasing your earning/spending power enough to move …

How Debt Works

Understanding how to think about and manage your debts is key for financial security. Debt requires monthly payments, and that reduces your cash flow. Some debts carry additional risks. For example, if you lose your job and don't pay your car loan, you will be taking a bus to your job interviews after your car …

Rent or Buy

When people first start thinking about buying a house, they often mistakenly compare the cost of a loan for a house to the cost of rent. Then they think they are being ripped off on their current rent and that they should go buy a house ASAP instead of "throwing money away on rent." The …

Introduction

Saving and investing has always been important to me. Over the years we got sidetracked from time to time. Our planned retirement horizon was the classic 40-year career, so it was no big deal to splurge as long as we were on track to retire in our early 60s. But, why wait that long? With the …