The Seven Habits of Wealth

Photo Credit: peasap   “We are what we repeatedly do. Excellence then, is not an act, but a habit.“–Aristotle. So often we define our lives by the big events. Graduation, marriage, children, a big promotion and retirement are some of the milestones that many of us remember (or will remember) as defining moments in our […]

Published or Updated: February 14, 2013

After-Tax Asset Allocation: Is there a gremlin lurking in your 401(k)?

As Roth IRA and Roth 401(k) retirement plans gain in popularity, unsuspecting investors may fall prey to a potentially expensive mistake. Money in a Roth 401(k) or Roth IRA account can be withdrawn tax free, assuming the withdraw meets IRS requirements. In contrast, withdrawals from traditional 401(k)s and deductible IRAs are taxed as ordinary income […]

Published or Updated: March 19, 2014

What a 9-day hospital stay taught me about health insurance

2008 has been a difficult year. On Sunday, December 30, 2007, I rushed my wife to the hospital emergency room. She had developed severe abdominal pain and was literally doubled over as we raced to the hospital. When morphine didn’t dull the pain, they moved to dilaudid, which is 15 times stronger. It took the […]

Published or Updated: February 8, 2014

Tim Ferriss’ 4-Hour Work Week: Fact or Fiction

Some time ago I wrote an article about Tim Ferriss’ book, The 4-Hour work Week: Escape 9-5, Live Anywhere, and Join the New Rich. My article questions just how realistic a 4-Hour work week is for must of us, and argued that achieving a 24-hour work week was more realistic. The other day while cleaning […]

Published or Updated: February 8, 2014

My Virtual Personal Finance Library

Photo Credit: polifemus (out of order) My virtual library is a collection of online articles and other resources that I’ve assembled over the years. I originally created this library as a means to conveniently store all of the online materials I’ve read about retirement accounts (e.g., 401(k) and IRAs), investing, asset allocation, money management and […]

Published or Updated: June 6, 2013

Are you Saving Enough for Retirement? Check Out This Rule of Thumb

Are your retirement savings enough to live comfortably during your golden years? The March edition of Money Magazine has some guidelines to help you answer that $64,000 question. Before we get to the guidelines, it is important to understand that they are built on a number of assumptions. First, they assume you will need to […]

Published or Updated: February 15, 2014

How to Stop a Debt Collector from Calling or Contacting You

Photo Credit: givepeasachance My wife and I recently received a call from a debt collection agency. They didn’t identify who they were in the voice mail or that they were calling to collect a debt. When we called back, some guy said he was with The Northland Group and claimed we owned some money on […]

Published or Updated: February 15, 2014

Slow Motion Retirement–A New Way to Look at the Rest of Your Life

Traditional retirement looks like this–work until you’re 65 or so, and then stop working until you die. More recently, views of retirement have begun to change, as more and more “retirees” are forced to work long after 65. There is a major problem with this approach to retirement, which I’ll come to in a moment. […]

Published or Updated: February 22, 2014

Warren Buffett is a “Huge Bull” on the American Economy (A YouTube Interview)

Warren Buffett was recently interviewed on everything from who he supports for President, to the future of the dollar, and the banking crisis. The interview presents an interesting glimpse into how Warren Buffett sees the current financial landscape. Some of the key points for investors: The dollar will continue to fall: So long as we […]

Published or Updated: February 14, 2013