From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money.
From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money.
According to LIMRA's 2011 Life Insurance Ownership Study, only one-third of Americans have individual life insurance coverage. While 56% of all workers have group life insurance through employers, that's still a somewhat dismal number.
You need an estate plan. This is true even if you don't have a lot of assets. It's also true if you're young, or if you don't have close family members. Estate planning means preparing for the inevitabilities of life.
When it comes to growing your savings, there are a handful of traditional ways to do it, such as investing in the stock market or in your 401(k). And then there are the more creative strategies, such as dumpster diving, couch surfing for a few months or buying and selling collectible coins.
The lights have been green for the baby boomers all their lives. They were born just after World War II, between 1946 and 1964, and raised during the biggest, most sustained economic boom in human history.
When deciding which goals to focus on, it helps to know which ones aren't a priority. Warren Buffett did this by creating a list of goals, then picking the most important ones for a second list. It's a classic Buffett story.
$100. It doesn’t seem like much, but it was all I needed to motivate myself to ultimately make millions as an entrepreneur. Does that sound like an exaggeration? It’s not, absolutely. The reality is millions of would-be entrepreneurs never make as much is $100.
In my 30 years of professional experience, I've worked as an auditor, investor, tax preparer and financial consultant — and I've witnessed the impact of financial literacy (or lack thereof) on countless adults of all ages. Teaching your children about money doesn't have to be complicated.
These last two articles have focused on how common it is for early retirees to continue making money after they say goodbye to the cubicle. I share stories like that because I’ve seen it happen in so many lives, including my own. Plus, if you do it right, work is fun.
A while back, I was asked to give an hourlong presentation where I talked about my key principles of personal finance. I chose to give a presentation where each slide was available for about a minute with one simple rule on each slide, giving me a minute to discuss that rule.
Shane Parrish was a cybersecurity expert at Canada’s top intelligence agency and an occasional blogger when he noticed something curious about his modest readership six years ago: 80 percent of his followers worked on Wall Street. The blog was meant to be a method of self-improvement, helping Mr.
Vicki Robin had no idea she’d become a millennial icon.
THINK OF THE upper echelons of the money-management business, and the image that springs to mind is of fusty private banks in Geneva or London’s Mayfair, with marble lobbies and fake country-house meeting-rooms designed to make their super-rich clients feel at home.
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There are as many investment strategies as there are investment opportunities. Some are good; many are terrible. Here’s the one that I lean on the most when I’m looking for low risk and above average returns. Goal: An investment algorithm to lean on hard when it is available.
In 2011, my parents gave me a sum of money that was both outrageous and, in the real estate terms of major cities, quite reasonable: 10 percent down on the 250-square-foot apartment I still own in Fort Greene, Brooklyn.
Growing up in poverty in rural China, where her family collectively lived on as little as $0.44 a day, Kristy Shen learned to make decisions based on pragmatism rather than passion from a young age.
The grid’s main purpose is to show long it will take you to retire given various changes in your income and spending levels.
It's difficult to overstate how crushing America's student loan debt situation is. The amount of money adults in the US owe due to educations is over $1.3 trillion and jumps up by more than $2,000 every second. The average borrower owes $28,000, though some owe much more than that.
Meb Faber asked a bunch of us bloggers to give him our top 3-5 most read blog posts of the year. I looked back at my trusty Google Analytics for the first time in a while and discovered that two of my top three in terms of readership were personal finance-related posts.
1. “The economy is like a machine.” The bottoms-up way Ray Dalio approaches the economy is analogous to value investing. You start with the simplest possible system since that is the easiest system to understand. For a value investor that relatively simple system is an individual company.
My name is Zach, and I write at Four Pillar Freedom, where I tend to tackle financial topics through data visualization. While J.D. is on vacation, I offered to explore one of his favorite topics: the effects of saving rate versus investment returns.
I was halfway through a job interview when I realized I was wrinkling my nose. I couldn't help myself.
Early last month, the security team at Coinbase noticed something strange going on in Ethereum Classic, one of the cryptocurrencies people can buy and sell using Coinbase’s popular exchange platform. Its blockchain, the history of all its transactions, was under attack.
Negative interest rates effectively mean that a bank pays a borrower to take money off their hands, so they pay back less than they have been loaned. Jyske Bank, Denmark’s third largest, has begun offering borrowers a 10-year deal at -0.
Investing is one of those things in life people know they should start doing — but never get around to actually doing it. And … why? Especially since there are so many reasons to get started:
One afternoon in October 2009, a former banking executive named Aaron Siegel waited impatiently in the master bedroom of a house in Buffalo that served as his office.
I spent years as a wealth advisor. Now, I run a firm that helps the ultra-rich protect their wealth. Here are my best pieces of money advice: We cannot escape taxes, as they impact not only our earnings but also our investments.
For an investor whose story was featured in a best-selling book and an Oscar-winning movie, Michael Burry has kept a surprisingly low profile in recent years.
What do professors, real estate agents, farmers, business executives, computer programmers and store clerks have in common? They’re not immune to the harsh reality of living paycheck to paycheck, according to dozens of people who responded to a Washington Post inquiry on Twitter.
More and more, I'm meeting people who want to know how to retire early. There's been a lot of buzz in the media lately about early retirement, and that's led folks to wonder how much money they would need to quit their jobs — or if early retirement is even something they should consider.
It’s a bright September morning in San Carlos, California, and Masayoshi Son, chairman of SoftBank, is throwing me off schedule. I’d come, as he had, to meet with the people he’s tapped to run the Vision Fund, his $100 billion bet on the future of, well, everything.
The world needs a more precise way to describe wealth. “Millionaire” is too broad, covering everyone from random pikers with a scant $1 million in net worth all the way up to people just shy of billionaire status. “Billionaire” has the same problem.
This article originally appeared on VICE UK. Like you and every other person in the world, I am no good at New Year puritanism. Two months in, I'm still often drunk and just as unfamiliar with kettlebell squats.
October has a reputation as a cruel month for stock market investors, after massive sell-offs in 1929, 1987 and 2008. So a 1.2% drop in the S&P 500 Index on Oct. 1, followed by a 1.8% decline the next day, wasn’t an auspicious start, even if the benchmark did regain some ground later in the week.
This story was co-published with The Atlantic. In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S.
Go claim your $125 from Equifax. Right now. Even if $125 isn’t a sum of money that matters to you, even if you don’t feel you were really directly affected by the breach.
Amazon’s founder is America’s richest person, but the company paid no corporate income tax last year. How can that be?
When anxious young couples ask whether they are doing enough to secure their finances, my answer is standard: By the time you are 40, you will be surprised how well you are doing. There is something about turning 40.
No, skipping your morning caffeine boost will not make you a millionaire. Welcome to the Smarter Living newsletter! Every Monday, Tim Herrera emails readers with tips and advice for living a better, more fulfilling life. Sign up here to get it in your inbox.
Whether you have a goal to reach $1 million or $10 million, you have to start somewhere. Thomas C.
There is a story that is commonly told in Britain that the colonisation of India - as horrible as it may have been - was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain.
If you ever want to retire, you have to start saving money for it, which means coming up with a plan. There are plenty of calculators that’ll help you do that, but if you’re new to the whole retirement planning thing, Fidelity’s myPlan lays out the basics.
[This piece originally appreared in McSweeney’s new issue, The End of Trust, a collection featuring over 30 writers investigating surveillance, technology, and privacy, with special advisors the Electronic Frontier Foundation.
Almost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. Volkov would speak to a sales trader—often, a young woman named Dina Maksutova—and ask her to place two trades simultaneously.
Change is a constant and continuous process in life. As we grow older, we change how we dress, what we eat, where we live and who we become friends with.
At 7:12 on a mild late-summer morning in New York City, WeWork's registration papers hit the Securities and Exchange Commission's website. The filing, called an S-1, was expected.
Millions of students will arrive on college campuses soon, and they will share a similar burden: college debt. The typical student borrower will take out $6,600 in a single year, averaging $22,000 in debt by graduation, according to the National Center for Education Statistics.
It’s not too hard to build a basic budget, and a few tips and tricks can help you make it really solid. But even a good budget can go awry. There are a handful of mistakes that throw people off, but the good news is: these mistakes are easy enough to fix.
A decade ago this week, Wall Street imploded. Read our special coverage. The global financial crisis is fading into history. But the roots of the next one might already be taking hold.
Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses.
(Sequel here: Blockchain is not only crappy technology but a bad vision for the future.) Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING.
It’s time to declutter.
The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely.
LONDON — Humanity is always moving forward with innovation after innovation improving global quality of life. The last 150 years have seen the most remarkable advancement of technology in history.
The first thing you should know about a woman I know, who I’ll call Annie, is that she volunteers to sit at the hospital with people who are going to die alone, who have no family or friends to be with them during their last moments.
Bitcoin envy, the ultramodern malaise. News reports are full of this magic internet money’s rocketing value – currently $16,000 – and Facebook is dotted with people who picked some up at $500, $50 or even 50 cents. But the cryptocurrency ship hasn’t yet sailed.
WHEREVER I go these days, at home or abroad, people ask me the same question: what is happening in the American political system? How has a country that has benefited—perhaps more than any other—from immigration, trade and technological innovation suddenly developed a strain of anti-immigrant, a
Want to see a five-figure balance in your bank or investment account? Two things to know.
Since its official unveiling last month, critics have been teeing off on Hudson Yards, the $25 billion office-and-apartment megaproject on Manhattan’s West Side.
WHEN the Honduran police came to evict her in 2009 Mariana Catalina Izaguirre had lived in her lowly house for three decades. Unlike many of her neighbours in Tegucigalpa, the country’s capital, she even had an official title to the land on which it stood.
Life has changed in many cities over recent years, as an astonishing number of people worldwide embrace a new lifestyle based on sharing: They sleep on strangers’ couches when traveling the globe. They drive cars or bikes at any time without ever owning one.
Tina Hay doesn’t think in numbers.
If you have stellar credit, you want a card with the most competitive offer. After all, if your credit qualifies you for the best, you deserve the best. With so many credit card offers, it’s hard to determine which cards are worth their salt.
Financial independence means you have enough wealth to live on, without working.
We’ve got budget, retirement account, credit, information security and insurance advice for your independent adult, college student, gap-year taker or future soldier. The summer after high school graduation inevitably includes monthslong encounters with various to-do lists.
A cryptocurrency exchange in Canada has lost control of at least $137 million of its customers’ assets following the sudden death of its founder, who was the only person known to have access to the offline wallet that stored the digital coins.
In 2009, I made myself two promises when I started Financial Samurai: 1) write 3X a week on average for 10 years and 2) never lose money again. We had just gone through a financial beating where my net worth got slashed by 35% – 40% in just six months.
With health care and other costs skyrocketing in the U.S., many soon-to-be retirees are considering what once might have been unthinkable: taking their retirement savings and moving overseas for their senior years.
Uber, Lyft, Airbnb and Pinterest plan to go public. California’s newly minted rich will be hungry for parties, houses, boats, bikes — and ice sculptures. Here comes the big one! SAN FRANCISCO — Big wealth doesn’t come in monthly paychecks.
He walked away from the stock market, built a network of elite private funds, and created a fortune with no end in sight. Swensen is a legend at Yale, and its highest-paid employee. But he’s neither the university president nor the football coach.
On a sunny Saturday morning in New York a few months ago, a group of 50 start-up founders gathered in the dank basement of a Lower East Side bar. They scribbled notes at long tables, sipping coffee and LaCroix while a stack of pizza boxes emanated the odor of hot garlic.
This article is adapted from the book “Super Pumped: The Battle for Uber,” by Mike Isaac, a reporter for The New York Times. The book will be published by W.W. Norton & Co. on Sept. 3. It was April 2014, and Uber was announcing a new $1 charge on fares called the Safe Rides Fee.
If the very idea of financial planning makes you break out in hives, you’re not alone.
Last week a received a call from a reporter from VICE named Allie Conti, who is setting out on a journey to learn about managing money. Like many of her fellow Millennials, Ms. Conti doesn't have much experience with the markets, investing or even general personal finance:
Patience. Frugality. Sacrifice. When you boil it down, what do those three things have in common? Those are choices. Money is not peace of mind. Money’s not happiness. Money is, at its essence, that measure of a man’s choices.
I’ve run my own business, first as a sole-proprietor for nine years, then as a corporation for four. I’ve earned a good income in that time. It’s allowed me to take on interesting projects, travel full-time and work whenever I want.
So here’s a mildly embarrassing personal truth I will admit: I’m 29 and I have no idea how money works. Budgets? Investing? Interest rates? I think the Fed does something important? Totally lost on me. I am aware that these things exist, but that is the extent of my financial acumen.
ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published. The IRS audits the working poor at about the same rate as the wealthiest 1%.
While your number might feel really large and impossible to attain, it will be much easier to reach if you break it down into smaller goals.
If you’re lucky enough to be a member of the global 1%, last year was another good year to be alive (every year is pretty great, though). Your wealth bracket increased its share of global riches so that it holds just over half of global wealth, according to a new report from Credit Suisse.