If you don’t believe the world will grant your children a fair chance to succeed, you may want to take matters into your own hands as parents. One way is to set them up for financial independence—ideally making them millionaires before they graduate high school, finish college, or leave home. If your children are millionaires […] The post How To Make Your Children...
If you knew that no matter how hard you tried, success was impossible or practically impossible, would you still push yourself to the limit? Or would you rationally pivot to another endeavor with a real chance of success? Personally, if the odds were overwhelmingly against me, I’m not sure I’d bother pushing so hard. Since […] The post Trying Your Best When There’s...
I keep reflecting on how incredible 2024 was. With the S&P 500 up 23%, Bitcoin surging, and residential real estate climbing in most of the country, personal finance enthusiasts have had an amazing year. The investment gains almost feel like free money—and who doesn’t love getting something for free? If you read Financial Samurai and […] The post The Million-Dollar Mindset of Personal...
Unless you are incredibly rich, it's highly likely that your vacation property is smaller than your primary residence. Having a smaller vacation property is a rational choice given you don't live there as long as you do your primary residence. Further, it's unlikely you need as many extra rooms for guests, an office, or entertainment […] The post The Ideal Vacation Property Size...
There are plenty of reasons people choose not to have kids, with the cost of raising them being a major one. Another big factor is the fear that children will disrupt an ideal FIRE lifestyle. Many envision a life of traveling the world, indulging in incredible cuisine, and living spontaneously—things that can feel more challenging […] The post Having Kids Might Not Hurt...
When I lived in the Marina neighborhood of San Francisco, I could walk to endless bars and restaurants within 10 minutes. It was the perfect place for twenty- and thirty-somethings to live, socialize, and indulge in city life. Back in 2005, at age 28, I had just bought my first single-family home—a handsome three-bedroom house […] The post A Home Within Walking Distance...
Recently, I went off the deep end—living like a degenerate gambler and party animal—and I wanted to reflect on it. Perhaps to nobody's surprise, I don't think having an extreme amounts of fun is good for your financial future. It's probably also not good for your health. In our personal finance world bubble, where we […] The post Partying Like A Young Degenerate...
One of the reasons I left my job at Credit Suisse was that I no longer felt I was being paid based on merit. After the global financial crisis, the firm—like many others—faced tough times, and overall compensation steadily declined for years. As a top-three ranked producer, I expected to be compensated accordingly. But I […] The post Rewarding Based on Merit Alone:...
If there’s one lesson I’ve learned the hard way in real estate, it’s that a full-on, gut-remodel can be a nightmare. After years of painful, unpredictable remodeling projects, I can confidently say: I will never do a complete remodel again. Instead, I now favor purchasing a fully remodeled, move-in ready home for any future investments. […] The post Buy A Fully Remodeled, Move-In...
On February 6, 2025, the White House announced a series of tax cuts primarily benefitting the middle class and retirees. Here’s what’s on the table: The administration is calling this the largest tax cut in history for working Americans, and with Republicans in control of Congress, these proposals are likely to move forward. Tax Cuts Means Greater Financial Freedom […] The post Tax Cuts for the Middle...
The beauty of hard work is that any able-bodied person can do it. If you put in more hours honing your craft than the average person, chances are you’ll achieve far greater success than the average person. If you happen to be rich, well-connected, and blessed with movie-star looks, combining those advantages with relentless effort […] The post Don’t Lose Financial Opportunities Due...
As a stock market investor, I’m disappointed in the new tariffs President Trump has imposed—10% on imports from China and 25% on imports from Mexico and Canada, including a 10% duty on Canadian energy imports (oil, natural gas, electricity). If these tariffs persist all year without resolution, corporate earnings could take a 2%-3% hit, which means a similar drop in […] The post Trade Wars Could Be What...
