Personal Finance

Learning from FIRE and financial freedom

By | 2019-09-30T17:14:57+00:00 September 30th, 2019|Personal Finance, Uncategorized|

I attended a great conference earlier this month where I had the opportunity to talk to a group of folks who are part of the FIRE movement.  FIRE stands for Financial Independence Retire Early.  We had some interesting discussions and I’ve thought a lot about those conversations since then. Many of the people I spoke [...]

Will you reduce expenses in retirement?

By | 2019-03-01T05:26:57+00:00 March 1st, 2019|Personal Finance|

This post is another in a series about the dangers of using rules of thumb as a basis for your financial plan.  As I’ve mentioned before, many of these so-called rules were only marginally true and only in limited circumstances.  And, even if they were true 30 years ago, many of them are outdated.  The [...]

My take on Rich Dad, Poor Dad

By | 2019-03-01T01:58:45+00:00 February 27th, 2019|Books, Investing, Personal Finance|

I've been asked a number of times for recommendations for books on personal finances - both for adults and for teens. I've read lots of books on different financial theories, behavioral economics, financial management and other topics. I find many of them fascinating but I completely understand that many (or even most) people would find [...]

What do you do if you’re laid off?

By | 2019-03-01T16:04:52+00:00 February 21st, 2019|Personal Finance|

According to the Bureau of Labor Statistics, the unemployment rate is currently around 4%, which is still low by historical standards.  And many companies still have difficulty filling some positions because the skills they need don’t match the skills in the available workforce.  But that doesn’t mean that there are no layoffs.  Job losses still [...]

How to overcome the fear of tax season

By | 2019-02-19T12:58:50+00:00 February 19th, 2019|Finance, Personal Finance, Taxes|

There’s no two ways about it.  The U.S. tax code is complex.  Even if you have an understanding of how the tax system works, there are seemingly endless specific provisions that affect some situations but not others.  You may get a good idea of how the tax provisions will affect you this year, but due [...]

Is this the right time for a financial Resolution?

By | 2019-01-14T20:14:12+00:00 January 4th, 2019|Personal Finance|

Happy New Year! Time for New Year's Resolutions? It’s that time when you see references to New Year’s Resolutions all over the internet.  People ask each other what their New Year’s resolutions are.  Parents tell their children that they need to think of a New Year’s resolution.  Gyms and weight-loss clinics have an influx of [...]

When you should consider taking capital gains this year

By | 2018-12-01T14:34:20+00:00 November 26th, 2018|Investing, Personal Finance, Taxes|

One of those financial rules of thumb that can hurt you - It's always better to pay later rather than paying now. The question isn’t just whether you should pay now or pay later.  The question is also whether you should pay more or pay less.  Depending on your circumstances, you could pay less in [...]

I already have an accountant. How can a financial planner help me?

By | 2018-09-07T14:30:39+00:00 September 7th, 2018|Investing, Personal Finance, Taxes|

You have an accountant who prepares your tax returns.  You have someone who manages your investments.  So how could a financial planner help you?   Your accountant is looking backwards. When your accountant prepares your tax returns, he or she is looking backward.  The purpose of your tax return is to report to the government [...]

Are your assets liabilities?

By | 2018-08-23T14:11:38+00:00 July 15th, 2018|Personal Finance|

Balance Sheet vs. Cash Flows In your quest for financial independence, hopefully you created your balance sheet early in the process.  While it is important to have a good idea of your net worth, your net worth doesn’t really represent what you have available to you to spend.  There have been plenty of companies with [...]