In spite of my admonitions and those of most other finance experts, many people still insist on actively trading stocks in an attempt to beat the market. If you are one of these people, then I recommend you at least consider using the following principles in your active trading strategy so you have a higher […]
This is my second post on New Year’s resolutions, with this one focused on how to improve your finances. Many people choose to have spending and saving goals for the new year. This is wise, because if you don’t maintain some sort of financial plan or target, your random daily spending decisions during the course […]
I realize that most people like budgeting about as much as they enjoy going to the dentist, so I’m not going to tell you that you need to create a detailed household budget. It would be useful, but most people just aren’t going to do it. However, there is one simple money management exercise that […]
In previous posts I have advocated investing in a home as a way to build wealth. Renting for long periods is generally a bad idea because you are not taking advantage of a U.S. tax code that incentivizes home ownership, and you are not building wealth in the form of home equity. Now I want […]
This might be one of the most difficult financial decisions parents have to make. Every household has limited finances, and the cost of a college education has skyrocketed in the last couple of decades. Also, many professions now require a master’s degree (post-college graduate education), so it is not unlikely that you […]
Everyone who invests has the same question: how can I beat the market? There actually is a way, but it has nothing to do with actively trading stocks, which as I have already said is a fool’s game. You’ve probably never heard of this particular method of beating the market. This might make you suspicious […]
I received a lot of positive feedback on my recent post, “6 Key Pieces of Financial Advice for Your Young Adult Child,” so this article expands on that topic. One of my readers said it would be helpful if I would discuss what her adult daughter should focus on, financially, as she progresses through her […]
One of my readers asked me what financial advice I would give to a young adult. She was concerned that her recently college-graduated daughter might begin making money mistakes, such as overspending on credit cards, which would jeopardize her finances. She said if I did a post on this topic she would pass it along […]
One major reason why people fear investing is that financial institutions have created so many different types of investment products that it is nearly impossible to choose among them. This is somewhat just the nature of a market economy, whereby every possible “flavor” of a product is offered for sale by companies to consumers. Unfortunately, […]
Some of the people I assist with financial planning have been astute enough to ask the following question: “So you recommend Vanguard as an excellent mutual fund company to use for my investments. Well, what happens if Vanguard goes bankrupt? Shouldn’t I spread my money around to more than one mutual fund company? You’ve told […]
So Many People Suffering in Silence
There are tens of millions of people in the U.S. who suffer from mental and emotional disorders. Anxiety, depression, phobias, bipolar disorder, panic attacks, etc.—it is sad to think of so many people in such great distress. Most suffer silently and bravely, day in and day out. May God bless them and give them strength. […]
Not Such Great Reasons to Drink Alcohol
Those of you who have read my book (and for those of you who haven’t, shame on you!) know that I’ve had a long and eventful past with alcohol, and that’s being charitable. Whether it’s my Irish heritage or just lack of common sense, I never had much luck managing my alcohol intake. My hope […]
But For the Grace of God Go I…
I do not know how to explain why God’s grace is offered to someone as unworthy as me. When my little doggie, Munson, needed to be put down a couple of weeks ago, I was devastated, as so many pet owners are when this fateful day arrives. We spend so much time with our little […]
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