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Most personal finance concepts are extremely simple. They only seem scary and complicated before you spend a few minutes chatting with someone who can explain them in lay terms. Then there’s the infinite banking concept, or IBC to the initiated….
It’s a weekday afternoon, and you’re dropping off your car at the mechanic — again. Lately, it seems to spend a lot more time in the shop than it used to. Looking back at all the money you’ve spent on…
Calculating your property taxes is complicated. Even if you pay property taxes to just one tax authority, like your city or county government, that authority uses a complex formula to determine how much you should pay. And there’s a good…
You need cash for a down payment to buy a house. But your existing monthly debt payments and credit also affect your ability to borrow, your interest rate, and the lender fees you’ll pay. Which says nothing of financial upsides…
Whether your retirement is fast approaching or decades away, it is likely that you do not spend much time pondering what will happen when you stop working. Unfortunately, many people are unable to retire when they’d like to because of their…
Cash is great, but there are times when it’s inconvenient. You can’t use cash to make online purchases and you don’t want to carry around thousands of dollars if you have to make a large purchase. Debit cards and credit…
Money builds on itself over time. But it does so at an exponential rate, not an additive rate. When you invest money, you send each dollar marching out to work for you. Each one earns you money, which in turn…
When you open a brokerage account and transfer money to it, you’ll probably notice that the money goes into a money market fund at the brokerage. Money market funds are frequently used as a holding space for uninvested funds in your…
Close your eyes and picture a millionaire. What do you see? A man in a custom-made suit behind the wheel of a luxury car, smoking an expensive cigar? Or maybe a woman dressed from head to toe in designer clothes,…
When you reach your 50s, you can no longer afford the illusion that retirement is some far-distant concern for another day. You need laser focus on long-term financial planning. Because in most cases, you have more working years behind you…
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