Category: Personal Finance (Page 1 of 6)

FinCon 2017 Recap: What YOU Need to Hear

FinCon 2017 Recap: What YOU Need to Hear

I realize not everyone wants to know how to grow their blog or SEO, etc. (in fact, I didn’t go to most of those sessions either!). The two things I learned at FinCon that are important for everyone are:

1) The Importance of Community

I went to FinCon because that’s my tribe. Are all of them my people? No way! But there were 1700 people there and a subset of that are my friends. We relate. We communicate. We help each other out.

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#FinCon17 What Really Happened (on Twitter)

I actually attended FinCon this year (hence my silence around here lately) and my recap will be coming at you next Wednesday, but I wanted to do my annual #FinCon17 recap because based on Twitter, it’s a whole different conference.

Here’s what happened based on Twitter:

First off, there were identity crises (both online and off):

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QUIZ: What's your financial personality

QUIZ: What’s Your Financial Personality?

Coming at you today is a super fun quiz I made up determining your financial personality. It’s full of pictures and not at all research-based! Have fun and tell me what you get!

Also, when you’re done with this super easy quiz and if you haven’t taken my SUPER AWESOME quiz (which takes just a bit longer) – go do that. We’re up to 671 responses (THANK YOU FRIENDS!).

How Money is like Toilet Paper

How Money is Like Toilet Paper

Money is like toilet paper. But, in all honesty, I wish it was a lot more like toilet paper! Let’s get rolling (pun intended):

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Healthcare Costs: The Wild Card

Healthcare Costs: The Wild Card

I know you’ve probably read a million posts on this topic lately since the future of healthcare in the United States is so uncertain, but healthcare is a big topic in the preparation for retirement, so let’s look at our situation:

Retirement Healthcare Cost Estimates

A recent Fidelity analysis estimates that healthcare will cost $275,000 per couple. This estimate only includes ages 65-88 at the latest. That averages out to $11,957 a year! Say you retire at 40 and live until 100 and spend the same amount of money annually, you’re looking at a whopping estimate of $717,420! Do I think this is reality? No idea. The answer is that we have LITERALLY NO IDEA what healthcare will look like in the United States until we die. That makes planning for it in calculations really, really hard.

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Why is Personal Capital Free? The Catch!

Why is Personal Capital Free? The Catch!

I’m sure you’ve seen a number of these already, but here’s my Personal Capital Review. If you’re interested, you can sign up for Personal Capital here.

Why is Personal Capital Free?

Let’s start with the bad. Personal Capital is free because they want to actively manage your money (don’t let them!). When I signed up for Personal Capital over a year ago, the sidebar showed me a picture of a banker under the caption “Your Advisor.” Since then, they’ve heated up the hard-sell a bit more. I now get emails that say things like: “You’re not on track for retirement! Call your advisor today!” When I log in, I often have to click out of a pop-up showing me my advisor and asking me to give him a call. This is all annoying. And things may get worse (who knows?).

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A Financial Plan is Like a Sneeze While Driving

A Financial Plan is Like a Sneeze While Driving

Have you ever had to sneeze while driving? It’s terrifying! You’ll have to close your eyes and convulse your body* all while maintaining safety on the road. Having a financial plan is very similar to preparing for this unexpected, horrifying sneeze.

Preparing to Sneeze While Driving

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Why Are We Afraid of Boring?

Why Are We Afraid of Boring?

Everyone lives their lives trying to not be boring. They don’t want to live like everyone else. They don’t want to seem average. People prove they’re not boring by buying nice houses, interesting cars, fashionable clothes. “I couldn’t possibly be boring. Just LOOK at me!” In this cycle of trying to prove we’re not boring, we also expect boring answers to be wrong.

The Boring Answers are the Best Ones

People want shortcuts. They want to hear the anecdotes and not the research. Everyone wants to be in shape and everyone wants to be rich. Why do you think the weight loss and financial industries are so large? We want a pill or a get-rich scheme. Do you know how to get in shape? You exercise. You actually work the muscles you want to be strong. Do you know how to get rich? You save money. You let money grow by not touching it.

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What's Stopping You From Cutting That Budget Line Item?

What’s Stopping You From Cutting That Budget Line Item?

I am a big fan of making sure I get value from my money. Each month as I look over the month’s spending, I look at where I can improve and where I can optimize and where I’m happy with my spend. Each budget line item should have a purpose. So often, we get stuck with ones that don’t, so why do we avoid cutting them?

Things Change, So Should Your Spending

We used to cloth diaper, but with health problems after Lui’s birth, we stopped. Paying for diapers¬†was worth the expense.

This week, we returned from a 2-week vacation to visit the kids’ cousins in Nebraska and Texas and I realized diapers are no longer worth the line item on our budget. Lui’s 3 now and is ready.

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Comparison is the Thief of Joy and Productivity

Comparison is the Thief of Joy and Productivity

Teddy Roosevelt is famous for saying: “Comparison is the Thief of Joy.” I took the liberty of adding “… and productivity.” When we compare ourselves to others, we lose sight of what we’re busy accomplishing.

Lin-Manuel Miranda is Better Than You

Last week, a Facebook friend of mine posted:

Lin-Manuel Miranda and my alumni magazine make me feel like I’ve done nothing with my life.

I totally agreed. A few days later, I happened across this article (headline is NOT changed): Lin-Manuel Miranda even sings karaoke better than you do.* Of course he does!

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