Should you believe in God? More importantly, what the heck does that have to do with a family finance blog? As it turns out, a lot. Blaise Pascal was a French philosopher, mathematician, physicist, and inventor – basically the classic Renaissance Man. He came up with what I believe to be one of the better… Continue reading Never Forget Pascal’s Wager
Reputation Risk is Why You Need F-You Money
Most of us dream of working a fulfilling career until we have enough money so that we can choose our own path: we can stay if we wish, move on to a new and more fulfilling career, or head out the door with two middle fingers straight in the air never to work again. But… Continue reading Reputation Risk is Why You Need F-You Money
Returns Can Disappoint for a Long Time
Investing can disappoint for long periods of time. There is no rule that says that over the next 10, 20, 30 years or more, stocks have to return 10%, bonds have to return 7.5% (while also being a strong diversifier for stock risk), and inflation has to come in at a tame 2-3%. All of… Continue reading Returns Can Disappoint for a Long Time
Make Sure Your Default Life is the One You Want
Almost no one changes the default settings on their tablet or their computer. The majority of people use the default ringtone on their cellphones. Many people don’t sign up for their 401k because they never get around to it. Such is the power of default settings. Much like anything else, our personalities have defaults; defaults… Continue reading Make Sure Your Default Life is the One You Want
Getting Young Kids Involved in Family Finances
Financial intelligence is one of the most important skills in today’s modern world. With it, you’re able to set yourself up for a future full of promise. Without it, you’re struggling day in and day out, with no hope of ever reaching the “American Dream”. Unfortunately, there is little to no teaching of financial skills… Continue reading Getting Young Kids Involved in Family Finances
Balancing Income Growth with Price Risk
Disclaimer: The article below discusses certain investment strategies, some of which I am currently using in my personal portfolio and some of which I am not. Do your own due diligence before making an investment decision. It’s your money; you’re the best person to judge what is best to do with it.
Skill, Luck, & the Kelly Criterion
How do we know if we have skill or are just plain lucky? Unfortunately for our self-esteem, many outcomes are more determined by luck than by skill. How do you know when an activity is driven by luck versus skill? Easy: if there’s a way to purposely lose, then skill plays a large role. If… Continue reading Skill, Luck, & the Kelly Criterion
The Family Investment Pot
Many of the historical “Great Families” became well-known because of their vast fortunes. Some of these families fell into irrelevance, while many are still well-known today. The Vandebilts, Du Ponts, and Cargills all hold a certain station in the United States that few other families have. While many of these fortunes decrease through time- through… Continue reading The Family Investment Pot
Annuities Basics: When to Use Them and When to Pass
Disclaimer: The article below discusses certain investment strategies, some of which I am currently using in my personal portfolio and some of which I am not. Do your own due diligence before making an investment decision. It’s your money; you’re the best person to judge what is best to do with it.
What Teens Need to Learn for Long Term Financial Success
Building a Great Family means preparing the next generation to continue and improve upon the traditions and the legacy you’ve spent your life building. Previously, we’ve discussed some of the basics to teach your children as they grow beyond the preschool age and begin to comprehend the world around them. As they grow into teens,… Continue reading What Teens Need to Learn for Long Term Financial Success