Providing objective, practical and as-needed advice to answer your personal financial questions.
As of June 2020, I am no longer creating new content. Some details may change from year to year, but my approach takes a long view. It is my hope that the concepts and philosophy in the archives prove timeless and helpful.
529 plans are one of the most popular ways to save for college, and for good reason. They offer tax-free growth and tax-free withdrawals for higher education expenses, making them essentially the Roth IRA of college savings.
The problem is that there are a LOT of 529 plans to choose from. Almost every state offers at least one 529 plan, and many offer multiple, and each one comes with a different set of fees, investment options, and features. ... Read More.
While it may not be the most enjoyable thing to think about, getting life insurance is one of the best ways to ensure that your family will always have the financial resources it needs, even if you're not there to provide for them.
When you shop around for life insurance, you'll probably encounter two different types: ... Read More.
Your bank is the hub of your financial life. It’s where your paycheck is deposited. It’s where bills are paid. It’s where savings are directed to other accounts. And it’s where you work towards some of your most important near-term financial goals like building an emergency fund and saving for a down payment.
Given its importance, don’t you owe it to yourself to find a good bank? One that makes it easy to manage your financial life? One that not only doesn’t charge you ridiculous fees, but maybe even helps you grow your money too? ... Read More.
I don’t know if there are any studies on this, but my guess is that investing causes more stress than all other financial topics combined.
Between the confusing jargon, the endless list of mutual funds, ETFs, and retirement accounts to choose from, and the constant ups and downs of the market, it’s easy to feel overwhelmed, confused, and downright anxious about whether you’re making the right decisions and whether you’ll be okay.
But today I’d like to give you a little relief. Because there are a lot of things you shouldn’t be worrying about when it comes to your investments, and here are five of the biggest ... Read More.
John Bogle, the founder of Vanguard, once said: "In investing, you get what you don't pay for." That may sound strange, but it’s true. In fact, minimizing your investment fees is one of the easiest and most powerful ways to increase your odds of success. Here’s why ... Read More.
Let’s say that you’re 30 and you inherit $500,000. What should you do with the money?
Traditional financial planning advice might look something like this:
Establish an emergency fund
Pay off debt
Get yourself on track for retirement
That’s all nice and prudent, but is prudent always the right move? ... Read More.
