Category: Money
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Wealth in Society
When I was a kid, the United States of America had a strong and vibrant middle class. This led to lots of innovation and growth. Here’s a report that provides a decent look at the data. The key take-away is that income and wealth inequality has risen significantly since the 1970’s. In practical terms, this…
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Wealth Building
I’ve written about this topic previously. In this post, I want to keep it as simple as possible. We pretty much all know how to build wealth. Simply spend less than you earn; then, save and invest the rest. The concept is simple. Putting it into practice is not so easy. The problem is that…
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Optimism
When I was a kid, I thought the future was only going to get better. While I admit to being a bit naive, I never imagined that the United States of America would have a President like Trump. I’m an optimistic person. I really do believe that we can figure shit out together and that…
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Small Actions Matter
It’s easy to convince ourselves that only big actions matter: grand gestures, bold moves, and earth-shattering initiatives. Nothing could be further from the truth! Habits are typically built from taking small actions over and over. Building wealth is a good example. You don’t need to win the lottery. In fact, a surprising number of people…
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Why Do We Do What We Do?
Humans are complex. Both internal and external forces motivate us. I would like to understand better why we do the things we do. Here are some possibilities. We make decisions based on our Identities. If I think of myself as the kind of person who works out, I might be more motivated to exercise regularly.…
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Estate Planning
While I don’t love the idea of planning for what might happen when I die, I recognize the importance of doing what I can to make things easier for my surviving family members. Lori Trawinski wrote about her experience as an executor in the AARP article My Mom Died. Then Came the Ordeal. She has…
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Building Wealth
I got an email from Motley Fool Wealth Management today that does a great job of reviewing the habits that allow everyday people to build wealth. Here are Five Money Habits to seriously consider. Let’s take a closer look at each of these. To save money, consider using the “50/30/20 budget rule”. Allocate 50% of…
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Buying Stocks
My approach to investing is to buy index funds. My reasons why are here. Some people would rather buy their favorite individual stocks. Every now and then, I also buy individual stocks. I think of this a bit like gambling. Whereas index funds tend to go up over time, many individual stocks do not. Some…
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Wealth and Poverty
While I’m thinking about it, here is another collection of videos from Robert Reich. Because I haven’t made it through all of these yet, I want an easy way to find and watch them. Enjoy! Class Sessions Part I — The problem Class 1: What’s happened to wealth and income in America over the last 40 years, and should…
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Economic Myths
Robert Reich has put together a series of videos debunking economic myths. Today, I finished watching this series. So I’ve decided to include all of the links here. Enjoy! Myth #1: Economics has nothing to do with politics, morality, or power. BUNK! Myth #2: Government obstructs the free market. BUNK! Myth #3: The rich deserve…