Is Rich Dad the Great Black Swan Hunter?

You’re not half as smart as you think you are. That’s the message in Nassim Nicholas Taleb’s book, The Black Swan: The Impact of the Highly Improbable. I sure wish Robert Kiyosaki (famed author of the Rich Dad Poor Dad never-ending series of books) would read The Black Swan. For our purposes today, Taleb argues […]

Published or Updated: March 23, 2012

Hillary Clinton’s Health Care Plan – A Detailed Analysis

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Senator Hillary Clinton unveiled her health care reform plan, called the American Health Choices Plan. Clinton’s health care plan promises to bring health insurance to every American. Clinton promises lower insurance premiums for every American, improved delivery of health care, health insurance for all, and a “net tax cut for American taxpayers.” She also promises […]

Published or Updated: March 23, 2012

Chess and the Art of Personal Finance–Answer Key

Over the past week, I’ve written about what the game of chess can teach us about money. Each day I included a chess puzzle for you to solve, and the comments it generated were a lot of fun. Some chess combinations were solved, but some were not. So here is the answer key for each […]

Published or Updated: August 24, 2011

Protect Your King, Protect Your Assets

The goal in chess is to capture your opponent’s king before your opponent can capture yours. So what’s more important, moves that hunt down your opponent’s king, or moves that protect your king? Well, they’re both important, which brings us to today’s topic–castling. In chess, you must protect your king, which is most often accomplished […]

Published or Updated: August 25, 2011

Speed Chess and the Art of Patient Investing

Yesterday we looked at the power of a slow, methodical pawn. Today we look at the opposite end of the spectrum–speed chess. In speed chess, both players have 5 minutes (or less) to complete an entire game of chess. (No, I’m not making this up.) They use a chess clock that has two digital timers. […]

Published or Updated: April 21, 2014

Behold, the Power of the Pawn

When I began playing chess, the loss of a pawn didn’t seem like that big a deal. After all, it’s just a lousy pawn. Was I wrong! The loss of a single pawn often means the loss of the game. More importantly for our purposes, it turns out that pawns are deceptively powerful. True, they […]

Published or Updated: April 21, 2014

Chess and the Deadly Trap of Debt

Is debt good or bad? There seems to be some debate about this topic. Some, like Dave Ramsey, believe that all debt is bad. Others take a more moderate approach. But the fact is that too much debt or debt with high interest rates can wreck your financial future. Chess has its own form of […]

Published or Updated: April 21, 2014

Chess and the Art of Financial Goals

The objective of chess is to capture your opponent’s king. That sounds easy enough. But as early as the first move, you quickly realize that knowing and understanding the ultimate goal of the game doesn’t help you make your first move. Finances can be the same way. You may have as a goal to save […]

Published or Updated: April 20, 2014

Chess and the Art of Personal Finance

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They say that Bobby Fisher could play a game of chess, and one year later, see his opponent on the street and recount the game from memory. Warren Buffett has a phenomenal memory, too, and a mind for numbers that would marvel Deep Blue. So that brings us to the feature articles I have planned […]

Published or Updated: April 21, 2014