If you have kids, you may have heard them shout innocently that your neighbors have a bigger TV than you do If you are a married man, you may have heard your wife complain that the neighboring family has enrolled…
One of the main problems that many people encounter in their personal finance journeys is converting their income to their net worth. Many people do not understand the big difference between being rich and being wealthy. As Morgan Housel puts…
Not long ago, children used to be viewed as a form of wealth. As a result, men would marry many wives who would then sire a lot of children. These children would then be used as a form of labor…
Whenever I’m talking about investing in stocks to people (mostly beginners) I tend to ask them how they think they are going to make money in the stock market. The most common answer I get is this, “I will buy…
The History of Retirement In 1881, the German Chancellor, Otto Von Bismarck, in a maneuver against Marxists who were burgeoning in power and popularity, announced that anyone over 70 years old would be forced to retire and that he would…
Debt Culture Nowadays, debt has become so easily accessible that it is quickly ruining our future financial positions. Companies have reduced the old school bottlenecks that made access to loans difficult. It’s now easier to borrow money than to make…
The first savings challenge I ever joined was when I finished high school. Even though I didn’t have a source of income, I figured out that the spare change I could keep from running some errands for my parents would…
The $5 Challenge In 2009, Stanford Professor Tina Seelig gave her class a unique challenge. The 14 teams of the class each received an envelope with $5. Once they opened the envelopes, they had only 2 hours to generate as…
A story is told of a successful businessman on vacation who was at the pier of a small coastal village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin Tuna. The businessman…
In his 2017 letter to shareholders, Warren Buffett recounted the first investment he ever made at the age of 11. He wrote(emphasis mine), “On March 11, it will be 77 years since I first invested in an American business. The…