I believe the best way to maximize your future wealth is to buy and hold index funds.But I get it. I know it’s tempting to stray from that simple course when you hear about the hottest new tech stock or have FOMO over bitcoin. So I suggest the 90/10 rule. With 90% of the contributions […]
If I had to give one piece of advice to help improve your financial situation, it would be to track your net worth. Not knowing your net worth is like spending your whole education and career learning how to play football but not knowing how to keep score. Earning money from your career is playing […]
When you learn enough about investing and how the market works, you realize that trying to beat the market is a fool’s errand. The optimal way to invest is to buy and hold index funds. So what levers can you move to maximize your future wealth? Well, there’s really just a few:• How much you […]
A lot of people go through life with an assumption that when they’re 65 they’ll automatically get to retire. But here’s the thing: Being 65 doesn’t mean you get to retire. If you don’t have any money, you have to keep working (or live in poverty). On the flip side, if you’re 40 and you’ve […]
I don’t talk much about entrepreneurship here, but I think this idea is really valuable. Many of you know I started a company coming out of college and sold it for about $5M at the age of 34. Now I’m working on building PFC and after making my first post in January of last year […]
If you have any debt, other than your mortgage, I think you should put 100% focus on paying it off before you start investing. I know that sounds crazy to some, but think about the situation in reverse. What if you were 100% debt FREE. Would you walk into a bank, borrow your current amount […]
I finally got around to doing all the bookkeeping around my total remodel cost. Yep, the final bill was over $100,000. That doesn’t even count another nearly $10,000 in inspections, moving, new furniture, new blinds, etc. I’ll post a more detailed breakdown of the costs soon. But here’s the thing. If I sell this place […]
A few years ago, Howard Stern on the radio and they were playing some clip of a celebrity who lost some weight weight. An interviewer asked how she lost the weight, then Howard Paused the clip and sarcastically quipped, “Let me guess: diet and exercise”. The clip continued, and sure enough, that was the answer.That […]
We talk so much about Roth IRAs, 401ks, 403bs, HSAs, etc, I often get questions like “Where else can I invest once I max out my Roth IRA?!”. But let’s not forget, all those fancy accounts are just special TYPES of brokerage accounts. A brokerage account is simply an account that you invest inside of. […]
Recently there has been a price war between US brokerages over lowering fees on mutual funds. Decades ago a 1% annual expense ratio on a mutual fund would be considered pretty good. Then Vanguard shook up the industry, introducing the first index fund (VFINX) with a 0.14% expense ratio. Since then the prices have been […]
