When should you hire an expert? I think I about this question often. We outsource many things in our life – cooking, cleaning, home repairs, car repairs, grocery shopping, yard maintenance, driving, and more. There are great benefits to outsourcing. Every time I face a home repair, I think, “I should learn how to do this. … Read more
Weddings. Could I pick a more controversial financial topic? I’ve always been flabbergasted by the price of weddings. With the average wedding cost around $30,000, it’s hard not to be. I know that figure is inflated by some people who spend over $100,000 on a wedding and brought down by others who spend $1,000. Either … Read more
When people start their first job, they often know they have access to a 401(k) plan, but they are not sure what it is exactly or how best to use you. Instead of brushing it off and thinking, “Hey, I’ll do it in a few years. Retirement isn’t for a long time,”, I suggest we … Read more
It’s one thing to read about all the open jobs in the United States right now. It’s another thing to drive through towns and see “hiring”, “open jobs”, and “great rates” posted on signs, billboards, and windows, in nearly every town I pass. I’m currently on a road trip, and it’s fascinating seeing the signs. … Read more
Rental properties are not passive income. Despite what financial pornography websites may say, rental properties and real estate investing are not easy paths to riches. People make it look easy. They may sell courses on real estate investing. You may hear it from a friend who got rich in real estate. They may tell you … Read more
One of the most common types of questions I receive revolves around how different types of accounts are taxed. With a patchwork of legislation over the years, our tax code is complex. You receive a tax deduction when you contribute to certain accounts. You don’t receive it in others, and future distributions are tax-free. Meanwhile, … Read more
People pay far too much attention to their performance on a daily, weekly, or monthly basis. Unfortunately, that’s a mistake. Even looking on a quarterly or yearly basis is fundamentally flawed. Imagine someone running a marathon and the announcer telling you how far they have gone after one second. It’s irrelevant. Nothing that happens in … Read more
Over the last 10 years, I’ve been in a fortunate position to have thousands of conversations about money. Doing so, I have heard and seen many things that most people don’t have the opportunity to see or hear. Unfortunately, people don’t talk about how money connects to life. They don’t openly talk about how … Read more
I quit my job. Yesterday was my last day as a financial planner with my prior employer. I’m one of those odd millennials – not because I quit my job, but because I was there for 10 years. It’s the only full-time job I’ve had. I started as an intern in 2011, worked part-time in … Read more
This is a year of transition. More on that in future posts. For some reason, turning 30 earlier this year has felt like a crossover point. I’m out of my 20s. The 30s are here, and with them, a whirlwind of change. I’m taking time to reflect on my 20s. Not only with personal life … Read more