It’s been said that failing to plan is planning to fail — especially with respect to personal finances. And although you may be prepared, one of the biggest mistakes any household CEO can make is to abandon their financial plan during extended periods of good or bad fortune. Why? Because, for those who lack the discipline to stay the course, raw emotion may erroneously trump the sound reasoning that was
Continue reading 100 Words On: One of the Biggest Mistakes a Household CEO Can Make
Most of you know I’ve had a hate/hate relationship with Ticketmaster for a long time now.
After all, this is the company that wrote the book on ridiculous consumer fees that, many people argue, only serve to exploit their hapless customers; it’s a practice that’s all the more galling because of their current market dominance which, if you ask me, borders on a monopoly.
Last weekend, Ticketmaster gave me yet another excuse
Continue reading Yet Another Reason Why I Hate Buying Tickets from Ticketmaster
I recently met with Joe Saul-Sehy to talk about his new money podcast, Stacking Benjamins, which debuts this week. We had just finished recording his final Two Guys and Your Money show, and I figured it would be clever to conduct the interview via Skype instant messaging — that way I could reduce my workload by cutting and pasting our conversation directly onto my blog. Bad idea. Unfortunately for Joe,
Continue reading A Fun Interview with Stacking Benjamins’ Host, Joe Saul-Sehy
Readers: Today’s post was written by my daughter, Nina. — Len
I’m only 13 and I’m worrying about my future. Not in an academic kind of way, but in a financial one. That’s because there are certain things that terrify me about growing up and living on my own.
Here is a list of the top five things that make me nervous for the future:
The thought of paying taxes absolutely terrifies
Continue reading My 13-Year-Old Daughter Shares Her Financial Fears
Whether we realize it or not, we manage financial risk whenever we take the time to get multiple price estimates from competing contractors. Those who do often get rewarded for their efforts.
As for those who don’t, well … they often end up getting burned.
I learned that lesson the hard way last month after I stupidly decided to forgo the estimates and award a backyard hillside renovation job to the guy
Continue reading How I Stupidly Got Ripped Off by Not Getting Multiple Estimates
Most folks are really good about making sure they have the proper amount of insurance for their home and automobiles. But when it comes to ensuring the survival of their family in rough economic times, well … not so much.
I recently explained why I believe an economic collapse is inevitable and what it would look like.
If history is any guide, the good news is that economic collapse won’t result in
Continue reading Economic Collapse 101: Ten Ways to Prepare for the Unknown
I’m not a plumber. In fact, I’m not very handy around the house at all.
If I can’t fix something with a hammer or screwdriver I prefer to pay somebody else to do the work. That’s why I decided to get a professional to reroute and install new plumbing hardware during our kitchen remodel.
Of course, we needed estimates. After making a few calls to local plumbers, the Honeybee presented me with
Continue reading How to Find A Low-Priced Plumber That Won’t Rip You Off
Who doesn’t dream about being rich?
I’m certainly not afraid to admit I occasionally wonder how it would feel to be independently wealthy.
The other day I was reading an article on the world’s 200 richest people and stumbled upon a couple of surprising factoids.
The first surprise, was that the richest guy in the world is neither Bill Gates (#2) nor Warren Buffett (#4); it’s America Movil SAB Chairman Emeritus Carlos Slim,
Continue reading What It Really Feels Like to Be a Billionaire
Risk and reward are inextricably intertwined. Of course, the richest rewards come to those who are willing to take the biggest risks. The oft-forgotten corollary to that strategy is that, by its very nature, high risk endeavors also have a greater chance of failure. That’s why most successful entrepreneurs and investors carefully evaluate risks and identify corresponding contingency plans before making a big decision.
The bottom line: Whether it’s a significant
Continue reading 100 Words On: How Smart People Make High Risk Ventures Pay Off
Decisions, decisions. Like it or not, our lives are defined by them.
It’s no secret that a big part of our financial success is based upon the decisions we make in life.
Just ask any person who has jeopardized their financial future by, say, starting a family before securing a good job.
Fortunately, most of us will be lucky enough to be afforded with at least one or two challenging opportunities — and
Continue reading Why Financial Success Often Depends on the Road Not Taken