When it comes to managing your money, understanding the basics of personal finance can make all the difference between struggling with bills and living comfortably. Personal finance might sound complicated, but it’s really about mastering a few simple principles that can set you on the path to financial security. In this post, we’ll explore the … Read more
It’s A Gravity Thing One undeniable fact of human nature is the desire to keep score, and for many people, wealth is the scoring system used to define our very existence. Wealth means having an abundance, which usually means money and savings (among other things). Our wealth is not set in stone; throughout our lives, … Read more
“You Can’t Always Get What You Want” is a famous song by the Rolling Stones. This song speaks to the difference between desire and need. Sometimes, when you’re chasing something you think you need, life can be tough. But in the end, you often find you get what you actually need. This idea is central … Read more
Personal finance is about managing your money wisely to achieve financial security and reach your goals. This involves budgeting, saving, investing, and planning for the future. David and I believe that this means making sure that your money goes where you need it to go, not wasted on non-essentials. Many people turn to financial planners … Read more
Neglected Topics One of the most uncomfortable topics for families to discuss revolves around assigning responsibility for Power of Attorney, last wishes, and acting as an executor for ones Will. But discuss these topics you must. This is not a situation where you want to make assumptions or outright guesses. These often neglected topics are … Read more
Cat And Mouse Games The schemes described in this story may seem far-fetched but they are actually very common. The most popular one is called an annuity. Annuity Simply put, an annuity is a contract between you and a financial institution (usually, but not always, a life insurance company). The issuer accepts and invests funds … Read more
There’s an old joke about the drunken sailor who was asked if he had a financial plan. Well, sure he said “I spend a third of my money on women, a third on drinking and the other third I spend foolishly”. While it’s meant to be a joke, unfortunately it describes how many people are … Read more
Are you yearning for a financial strategy that doesn’t require deciphering complex stock charts? We explore this idea in “The Balance: An Old Guy Offers Some Random Thoughts On Money” Kindle Edition by David Penna (Author). Meet David, a former mining geologist whose unique background has shaped a simple financial strategy for a secure retirement. … Read more
