Disadvantages of Inherited Wealth

Inheritance is a bit of a dirty word in the US.  While passing down family wealth through generations is common in Europe, the meritocracy philosophy in the US does not naturally lend itself to inherited wealth.  There are a lot … Continue reading

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Cash Out Refinancing for Investment Properties

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Is paying off debt on investment properties a smart move or one that leaves you with less wealth over time?  Buying an investment property, owning it for the long run, and paying down debt can be a smart move, especially … Continue reading

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Second Order Effects

Every action has a reaction and each of these reactions have their own reactions.  These reactions to the initial reactions (the initial reactions being the first order, or direct, effects) are the second order effects of our primary actions.  Second … Continue reading

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Not All Net Worth is Equal

Your net worth is an incredibly important number, potentially the most important number in the area of personal finance.  However, not all net worth is equal because not all assets are created equally.  For those interested in financial independence, the … Continue reading

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Age Discrimination is Real

Age discrimination is real and the best reason to be financially independent by the time you hit your early 50s.  A recent ProPublica and Urban Institute study spells it out in great detail that if you’re over 50, leaving a … Continue reading

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Wealthy Families Hold a Surprisingly Large Amount of Liquidity

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Wealthy individuals and families hold a surprisingly large amount of cash as part of their net worth.  Depending on the source, the wealthy have between 7% and 22% of their portfolio sitting in cash at any given time.  According to … Continue reading

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What to do with an inherited IRA

Both the IRA and the 401k began in the late 1970s.  The IRS did not even allow payroll deductions into the 401k until late 1981 but by the end of the 80s and into the early 90s, both account types … Continue reading

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Frugality is Less Valuable Than Time As You Age

Frugality is Less Valuable as You Age I have been frugal all my life, oftentimes to a fault.  Many of you reading this are likely the same way.  Yet there is a point where being more frugal becomes less valuable … Continue reading

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How to Work Smarter

How to Actually Work Smarter “Work smarter, not harder.”  We’ve all heard the saying, but does anyone actually know what that means?  Focusing on doing smart work makes sense for most professionals.  There are only so many hours in a … Continue reading

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Being an Executor

There’s an old saying about how you never see a hearse pulling a UHaul.  In other words, you can’t take your stuff and your money with you.  Someone will have to get rid of it.  Most of you reading this … Continue reading

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