Aside from bragging about investing right at the dip in March, refinancing your mortgage is one of the hottest topics in the personal finance world. Interest rates have dropped drastically over the past couple of years, so it only makes sense to talk about refinancing when it can benefit so many people. So what does it mean to refinance your…
Tweets of The Week Favorite Articles Josh Brown: How big a drawdown can you survive? “It’s not enough to be smart. Everyone’s smart. Investing is about endurance and the ability to withstand large drawdowns from time to time without panicking. Buffett says “The most important quality for an investor is temperament, not intellect.” Morgan Housel: A Few Rules “Behavior is hard…
As humans, we all go through struggles. It seems as if anxiety and depression are rooted in everyone’s DNA, but especially the younger generations’. According to CNBC, Millennials are three times more likely to experience symptoms of anxiety than baby boomers and Gen-Zers were four times more likely. Whether this is because of social media, our phones, finances, or this…
Tweets of The Week Favorite Articles Blair DuQuesnayl: Book: My Husband is a Robinhood Trader– “Sometimes it is fun to live a little. Just remember that speculation is different than investing. The potential outcomes are wider with speculation, and that includes both to the upside and the downside. Unfortunately there is no way to calculate the portion of any investor’s…
Over the past few years of working with millennials, I’ve come to realize that there are numerous myths and misconceptions that are driving millennials behavior around money. I am not sure where these misconceptions began, but regardless, they exist. As I began meeting with more and more millennials, I jotted down every misconception I heard with a goal of debunking…
Tweets of The Week Favorite Articles Morgan Housel: Book: The Psychology of Money– “There are people with no financial training or background who do well with money. There are also partners at Goldman Sachs with PhDs in economics who go bankrupt. That kind of gap between knowledge and results does not exist in any other field. And the mere fact…
As a millennial, you may feel that the cards are stacked against you. Between debt, an increased cost of living, and lower wages, it is hard to think otherwise. However, millennials have something at their disposal that puts them a leg ahead of the generations above them. It’s called compound interest, aka the 8th wonder of the world according to…
Tweets of The Week Favorite Articles Morgan Housel: Save Like A Pessimist, Invest Like An Optimist– “If the odds are in your favor and you can keep them in your favor for a long time, you shouldn’t just be an optimist. You should be a ridiculous, full-blown, giddy optimistic. Which is also what history tells us, isn’t it? All good investing…
How do you track your personal financial progress? Maybe you measure how much your savings have increased over the last year. Maybe you track the growth of your 401(k) and other investments. Maybe you do nothing at all and just hope you are making progress. The problem is, none of those ways are enough. They fail to capture the entire…
Tweets of The Week Favorite Articles Todd Tresidder: What Endurance Athletes Can Teach Us About Building Wealth– “Endurance running and wealth building are both character driven activities that require goal setting, focus, commitment, perseverance, and good old fashioned hard work. It takes a lot of commitment and a deep sense of purpose to reach your potential in wealth building and endurance sports—especially…