I have a love-hate relationship with owning rental property. On the one hand, my rental properties are one of the main reason why I had the confidence to leave work behind. On the other hand, my rental properties are my main source of investment stress. Whenever there is a tenant issue or a maintenance issue, Read More... The post A Love-Hate Relationship With...
Are you confusing your good fortune due to your own skill rather than due to luck? I’m here to argue that above average wealth is mostly due to luck. Therefore, stop deluding yourself into thinking you’re so great! As President Obama said in a July 13, 2012 campaign election speech, “If you’ve got a business, Read More... The post Your Wealth Is Mostly...
Despite the pandemic and a bear market making things difficult for so many, there is still so much to be thankful for. We need to all be thankful for the luck we’ve had so far. Personally, I’m thankful for luck. The more we can recognize luck in our lives, the happier we will be. I’ve Read More... The post Thankful For Luck: A...
There are very few occupations that provide the ideal combination of riches and status. Being a professor is one of them. Tenured professors are able to make six-figure incomes. Getting a PhD or a post-doctorate is the pinnacle of academic achievement. Meanwhile, most people respect professors for their positive contributions to society. After I retired Read More... The post Being A Professor Is...
During the pandemic, we learned that Americans can save a lot more money if we want to. Take a look at the historical American personal saving rate chart according to the U.S. Bureau of Economic Analysis and the St. Louis Fed. After lockdowns began on March 18, 2020, the U.S. personal saving rate skyrocketed from Read More... The post Americans Can Save A...
In order to become a good-enough investor, it’s worth doing a post-mortem analysis of your investment calls. Constantly reviewing what we got wrong and what we got right is important for improvement. We must not confuse any investment outcome with improper reasoning. If we do, we will suffer from Dunning-Kruger, which could lead to deleterious Read More... The post Post-Mortem Analysis Of A...
You don’t need to be a great investor to make lots of money. You just need to be a good-enough investor. Once you’re good enough you’ll be able to ride an almost constant tailwind toward financial independence. Further, you’ll learn to no longer blow yourself up and lose all your progress. One of my favorite Read More... The post How To Become A...
Suing your employer as part of a mass layoff is probably not going to get you anywhere. Instead, you will likely end up wasting your time and money. In addition, you may also end up hurting your reputation and future employment prospects. Mass layoffs and what happens next fascinates me due to my experience during Read More... The post Suing Your Employer For...
Want to get into an elite university? Develop a better personality so you can receive a higher personality score during the admissions process. In the Supreme Court case regarding using race-conscious admissions (affirmative action) at Harvard University and UNC, we learn Harvard assigns a personality score to every applicant. By assigning a lower personality score Read More... The post How To Develop A...
