FRAM oil filter ran a series of commercials in the 1970s and 1980s with the tag line, "Pay me now, or pay me later." The message was clear. You could spend a few dollars today to change your oil filter or put it off and pay thousands to repair your engine. Small actions today can have significant...
Dave Ramsey takes a lot of heat from financial professionals, but his seven steps have helped millions of people pursue a better life. I don't agree with his entire philosophy, but establishing an emergency fund, paying off debt, and saving for retirement are tenants that make sound financial sense...
Stock and bonds are falling as investors react to rising interest rates and inflation, and most balanced portfolios are down significantly. Vanguard's Balanced Index Fund is 60% stocks and 40% bonds and has fallen 14%. Is there a silver lining to lower account values? I think so, especially if you...
Estate planning is complex. To complicate matters, few people like to talk about their mortality, but it's necessary. Creating a will or trust is paramount to ensuring your family honors your wishes, and a well-structured plan can potentially avoid conflicts between heirs. Most people account for...
The gear heads at my high school loved to pop the hoods of their muscle cars and gawk over the engines. Most were pristine on the outside but lousy on the inside; it was impossible to tell until the hood was agape. Likewise, it's similar to investment models – on the outside, they all look the same...
Matt Damon is stranded on Mars in the hit movie The Martian. He must use several tactics to survive and regain contact with his crew back on Earth if he wants to live.
After much thought, you join Mr. Damon on his trip to Mars. For this story, your mission trip left Earth on January 1, 1990...
What a crazy week! Last week I was at Wind River Ranch in Colorado with a few mighty men from my church, helping the ranch hands prepare for the summer season. Shortly, the ranch will welcome hundreds of horses and thousands of guests. We shoveled snow, oiled saddles, dug holes, mended fences, moved...
The Nasdaq is getting crushed, and the trend is lower. The tech-heavy index includes Apple, Microsoft, Amazon, Alphabet, Meta, and Tesla. Since 1987, it's up 3,100%, but it has incurred numerous corrections, including a 75% decline from 2000 to 2002 and the crash on Black Monday, October 19, 1987...
During my final semester of college, I discovered the stock market through an investment class. The professor opened my eyes to the possibility of creating wealth by owning great American companies. In the Fall of 1987, I experienced Black Monday in my college classroom; I didn't lose money because...
During my morning walk, I noticed two trees. One tree touched the sky with giant limbs, dark green leaves, and rich fruit. The other tree was short and lifeless, and I was curious why they were radically different.
My curiosity led me to the homeowner of the healthy tree. I knocked on her door...
Markets are reeling, and there are few places to hide. Investors are scared of inflation, rising interest rates, and the Ukraine war. This year, the S&P 500 is down 16%, and the NASDAQ is fairing much worse. Long-term bonds are down 22%, while real estate holdings have dropped 17%. Investors are...
Please do me a favor. Add up all your financial assets – retirement accounts, investment accounts, checking, savings, etc. After calculating your asset amount, divide it in half. How do you feel? Could you survive financially? Do you need to adjust your lifestyle? The answer to your question will...