Crises come around every so often — personal crises, family crises, national crises, political crises, market crises, and global. The events are often predictable, but their timing is not. Scientists predicted a virus such as COVID-19 could infect humans and cause severe health and economic consequences. But no one knew the specific date, where it…
My Uncle gave me my first share of stock for my birthday in May of 1995. That one share of Chevron set me on a path to learning to invest most effectively — by doing it myself. All the books, blog posts, videos, courses, and talking heads are no substitute for brunt work and bruises….
Have you heard advertisements about creating lifetime income for a secure retirement? I’m always skeptical about annuities because they are so confusing, even for those of us who pay attention. It turns out that the term “lifetime income” is a marketing phrase intended to demystify annuities by highlighting their primary benefit. Unfortunately, a PR campaign…
The Pittsburgh Steelers won four Superbowls in the 1970s — a legendary run. My Uncle was a diehard Steelers fan in the 1970s and 1980s. He had season tickets, fabricated an Iron City Beer “kegerator” in his basement, and bet on the outcomes of the games. Sports betting is commonplace today. But back in the…
I’ve discovered an excellent product to help make data-driven decisions with our money. The software is called Lunch Money — an independent, female founder-led budgeting tool that makes the budgeting process simple, fast, and automated. Many of you will ignore this post, thinking you’re too wealthy or sophisticated to budget anymore — or you don’t think…
So much has changed in the world of personal finance and investing over the past 30 years. ETFs and index funds have replaced individual stock portfolios and managed mutual funds. Investing moved online, then to mobile. Online brokers eliminated commissions and now encourage fractional share purchases for as little as $0.01. Tax laws and planning…
Today’s article is a recap of the year’s most popular articles and videos. Many, you may have missed it. Look for new articles, videos, book giveaways, and podcast appearances in 2025. Happy Holidays! Craig How I’m Simplifying my Portfolio for Retirement Early in the year, TD Bank interviewed me about how I’m simplifying my portfolio…
The Roth conversion is a popular year-end tax maneuver for DIY retirement planners. It works just as well at the start of the year, but more people are interested in December. The move involves transferring retirement assets from a traditional IRA, 401(k), or other pre-tax account into a Roth IRA. Conversions incur a tax consequence…
On December 1st, 1986, my Mom took me to open my first bank account at the local Dollar Bank branch. I was 11 years old and a little skeptical of giving the bank teller my $21.60. I walked out with a small green booklet that looked like a passport. My parents thought it was the…
The FIRE movement made the rounds in national news for a few years and still gets a head nod here and there. The early retirement (RE) part of FIRE always received more criticism because it’s the goal when someone doesn’t like their career choice and wants to escape. In hindsight, this was me. Both financially…
The minus your age rule of thumb is a simple math formula used in personal finance to help DIY investors and advisors determine a suitable stock-to-bond ratio for an investment portfolio. I’ve always referred to this as the 130 minus your age rule of thumb on this website, but that only tells part of the…
Many of us secured historically low mortgage rates for our homes in the past decade. We now find ourselves content with a 4% rate or better as our home values continue to rise. Our family refinanced to a 20-year loan in September 2020 at 2.75%. That rate has eliminated our desire to move. With a…
My Dad retired in 2002 with a 403(b) and lifelong teacher’s pension. Unsure of his retirement savings, some fellow retired teachers recommended a financial advisor who “specialized in retired teachers”. So he converted the 403(b) to an IRA, transferred his and my Mom’s IRAs to the advisor, and trusted him to manage their money for…
The financial independence number is a benchmark to determine retirement preparedness. It’s also known as the FI number. Financial independence is achieved by: building enough passive income to cover annual expenses, or amassing a lump sum of enough savings and investments to cover living expenses through withdrawals, or a combination of #1 and #2. The financial independence…