Tag: money
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5 Financial Resolutions for 2026
It is 2026, and a new year brings a new beginning. 2025 taught us many lessons. In a year, we can accomplish massive things. But we usually don’t. New beginnings are precisely the best time in our lives to enact changes that benefit us. Professor Katy Milkman of The Wharton School calls this the fresh-start…
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Debt doesn’t just cost interest. It sacrifices opportunity.
One thing is for sure. Debt is costly. If I take a $50k loan to fund my wedding, at 5% for 10 years, I would pay $13k in interest. But if that $50k had been saved or invested at 5% for 10 years, I would have ended up with $81k, or over $31k in interest.…
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Skipping drinks won’t make you rich
I’m not a fan of 3-dollar Cokes, as I’ve pointed out before. I used to be a fan of “skipping the latte”. I would wait for discounts before buying meals. I would skip drinks, always. If I didn’t need it, I wouldn’t buy it. It adds up, but not to much Let’s do some actual…
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“Are you doing okay with Money?” The Checklist for Financial Health
How do you know if you’re doing okay with your financial situation? This is a simple question with a complex answer. But I’m here to provide a straightforward 6 point checklist to ascertain your financial health. If you answer yes to all 6 questions, you’re in the pink of financial health! This isn’t new or…
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How to construct an investment portfolio
What I do: My portfolio is 100% equity ETFs. Just like you wouldn’t copy someone’s shopping list, I wouldn’t recommend copying my portfolio. You’re here because someone told you to invest your money. But no one tells you how, unless they’re trying to sell you something. Here are three principles to know when constructing your…
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How do I invest my savings?
What I do: My long term savings are in equities. My emergency fund is in a high-yield savings account. My short-term savings are in a separate high-yield savings account. People ask this question a lot. They jump to it before they know how much they spend and how much they save. The short answer is:…
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How much should I save?
What I do: I save about 40% of my take-home income. Save 20%. The popular 50-30-20 framework is a good rule of thumb. Spend 50% of your income on necessities, 30% on wants, and save the remaining 20%. But the other answer is: Yes. Start small, and grow from there. It’s like training to run…
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Do you spend less than you make?
What I do: I spend less than I make. If you spend more than you make, you cannot save, invest, or retire. If you spend less than you make, we can discuss saving, investing, and retirement. So the first question is – are you spending less than you are making? This is hard to answer.…