I try to run my personal finances like I would run a business: Use debt to leverage high ROE assets. Limit expenses and maximize revenues by exploring future potential revenue streams. This manifests itself in many ways in my life… and how I pay my bills. When a bill is due, I wait until the […]
Both my co-writer Cameron and I have recently penned screeds on a worrisome trend we’ve seen in Personal Finance blogs – the hyperbolic obsession with “Debt Zero”. “Debt Zero” is, of course, the idea that above all else Debt Must Be Paid Down.
The first clue that something is wrong with that story is the inclusion of the word “must”. There are very few absolutes in life – the snarky amongst you will acknowledge death and taxes – and in this situation is no different. You see, it’s naive to assume that things come for free. Every single thing you do is a trade off.
I don’t know who said it originally… but I always hated that quote. In my mind, if you win every game with a strong offense, what difference does defense make? If your defense is good enough for your offense to prevail, well, then you’ll prevail.
On that note, I have more than half a million dollars in debt and I only pay the minimum payments.
Today, let’s focus our attention outward, instead of on our ‘personal’ personal finance issues issues… let’s talk about the finances of our friends and family! DQYDJ is normally a Personal Finance site but today our focus is on Extrapersonal Finance, namely, how you dole out advice to friends and acquaintances who make poor financial decisions.
Today, let’s focus our attention outward, instead of on our personal issues… let’s get Biblical and talk about the finances of our friends and family! DQYDJ is normally a Personal Finance site but today our focus is on Extrapersonal Finance, namely, how you dole out advice to friends and acquaintances who make poor financial decisions.
You’ve got an IRA, right? This site has been preaching the tax benefits of both traditional and Roth IRAs since the beginning… and we aren’t going to stop now. So hopefully you’ve been diligently saving in your IRA, with the hope that some day you’ll have a couple million dollars in there (or at least a good amount of funds you can tap in retirement).
Mitt Romney, it was revealed in financial disclosure documents, has an Individual Retirement Account worth somewhere between $20.7 and $101.6 million dollars. Note that IRAs have a small limit when compared to 401(k)s and other employer retirement accounts, so this came as somewhat of a shock to people with IRAs. How did Mr. Romney achieve such an impressive sum in his retirement account?