Everyone aspires to be a self-made millionaire, but surprisingly, there are fewer self-made millionaires than commonly thought. Before finding out the answer, what percentage of millionaires do you think are self-made with no inheritance or significant financial help from their parents or relatives? Here’s a Bank of America Private Bank Survey of Wealthy Americans that […]
Fewer Self-Made Millionaires Than You Think: A Problem? Read More »
In 2024, I am transitioning from a spender to a saver’s mindset out of necessity. I am returning to frugal habits reminiscent of my lifestyle in the first thirteen years after college. This change is prompted by the need to rebuild liquidity. One area I’m targeting to cut expenses is food. After a three-month experiment
How Couples Can Adopt The Same Financial Goals And Win Read More »
Happy new year everyone! For 2024, my theme of the year is, “One last year of intense focus.” This marks my 15th year running Financial Tips, coinciding with both my children starting full-time school in September. Fatigue has set in, reminiscent of 2011 when I pondered leaving investment banking for good. That burnout prompted a
2024 Financial Tips Goals: One Last Year Of Intense Focus Read More »
I’ve been writing year-in-review posts for over a decade now. It’s a rewarding way to document what went well and where I can improve. While 2023 brought more failures than wins, being alive and healthy fills me with gratitude. My theme for 2023 was “Back To Easy Living.” After an exhausting pandemic period, I aimed
2023 Financial Tips Year In Review: More Fails Than Wins Read More »
At the end of every year, I highlight the best posts and podcasts on Financial Tips. Determining the “best” of Financial Tips is both objective and subjective. For those new here, I started this site in July 2009, at the depths of the global financial crisis. I had been considering launching the site since 2006,
The Best Of Financial Tips 2023 – Posts And Podcasts Read More »
With stocks again at or near record highs, it’s a good idea to find ways to spend some of your stock market gains. Owning stocks provides no utility or inherent joy (unless you’re a lover of money itself), so we must sell on occasion to capture its benefits. When I first began investing in stocks
Top Ways To Spend Your Massive Stock Market Gains Read More »
The end of the year is always the best time to reflect and plan. I’d like to share several financial moves you should make before the new year in order to protect your wealth and hopefully grow your wealth in a risk-adjusted manner next year. Those of us who invested in stocks, real estate, and many
10 Helpful Financial Moves To Make Every Year Read More »
While watching some competitive 5.0 tennis, a top 1% level, I suddenly started to reflect on why the window of opportunity that many of us have is smaller than we think. From 2015 until 2021, I played at the 5.0 level. I lost 69.3% of my matches, but USTA’s computer algorithm wouldn’t drop me down
Your Window Of Opportunity Is Smaller Than You Think Read More »
Anticipating future trends can lead to smart investments. Drawing from my 23 years of real estate investing experience, I expect bidding wars to resurge in the housing market. The main reasons for the return of bidding wars in the housing market are as follows: If you believe the real estate market will strengthen, as I
How To Prepare For Upcoming Bidding Wars When Buying A Home Read More »
In my post, the percentage of homeowners who pay cash, a reader asked my opinion on having home insurance for paid-off properties. Paid off properties include a property you purchased with all cash or a property you own after paying off the mortgage. This is a dilemma I wrestled with after recently paying cash for
Home Insurance Needs For Paid Off Properties With No Mortgage Read More »
