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The rich and famous often indulge in hobbies that are as extravagant as they are unattainable for the average person. These hobbies reflect a lifestyle of opulence and exclusivity, highlighting the vast financial disparity between the elite and the general population. Take into a peak into their world without spending a dime. 1. Collecting Rare … Read more
Don’t miss an episode of our podcast, Personal Finance for Long-Term Investors. Tune in on: Apple Podcasts Spotify YouTube Now, here’s today’s article: Honest Abe Lincoln had a riddle he would tell. He would ask an audience, “How many legs does a dog have if you count its tail as a leg?” That’s a strange question, you might think. But, not wanting to make a fool of yourself in front of the President, you might stutter out, “Well…four plus one would give you five legs. Is it five legs, Abe?” And Abe would scream at you, “Idiot! I fooled you! Don’t you know anything about dogs!?!?” And Abe would calmly say, “The fact that you call it a leg doesn’t make it a leg. The answer is four.” You got ’em, Abe. He was pointing out the tension (sometimes accidental, sometimes purposeful) between labels, perceptions, etc., vs. the true underlying reality. Comedian George Carlin was famous for his linguistic bits. Specifically, he spoke and joked about words “that hide truth, that conceal reality, euphemistic language.” Warning – just a few curse words… [embed]https://youtube.com/watch?v=o25I2fzFGoY&feature=oembed[/embed] And Charlie Munger, one of my personal favorites, believed that all humans are prone to this behavior. For example, he once said, “the nature of human psychology is such that you’ll torture reality so that it fits your models.“ When we’re faced with a harsh truth that alters our fundamental beliefs, an innate instinct wants to deny that truth or shoehorn it into our preconceived reality. Lying with Numbers In one financial example, Munger was a vocal and sharp critic of “creative accounting.” Too many people lie too often using numbers. Munger would point at a derivatives trade between two large Wall Street firms. Each firm’s accountants then track that trade in their internal accounting books, and each firm’s accountants…show a profit?! How can both profit? This type of behavior is surprisingly common, even though, as Munger would say, “it violates the most elemental principles of common sense.” Why, though? Why is this happening? Because, in this case, employees at each of those firms have incentives to have their trades appear profitable. Show me the incentives, I’ll show you the outcomes. Can this problem be fixed? Specifically about public accounting, Munger says, “Oh. You’re talking about a problem so deeply rooted in human nature, you won’t live long enough to see it. If it gets 20% fixed in your remaining lifetime, you’ll be a fortunate man.” Torturing Retirement Numbers Why am I bringing this up? Who cares about “torturing numbers?” Because I think it’s important we avoid this pitfall in our personal financial planning, our portfolio decisions, our retirement planning, etc. It can be all too easy to torture these numbers. Sometimes accidentally. Sometimes to avoid painful realizations. Usually, though, because we simply don’t know any better. Here are some big examples: Using “Average Returns” as the Only Model Unfortunately, your “average returns” in retirement aren’t nearly as
High-paying night gigs that make $30k a month are a game-changer for many individuals seeking financial stability and flexibility. These jobs offer significant income potential while allowing people to manage other daytime commitments, such as family or additional work. The opportunity to earn substantial money during evening hours can help accelerate debt repayment, boost savings, … Read more
Image Source: Shutterstock.com Composting can feel like a magic trick: scraps disappear, and your garden seems to thank you with richer soil and healthier plants. But not all kitchen scraps belong in the compost pile. Those viral TikTok compost hacks might look convincing, but some of them could actually harm your compost, attract pests, or slow down the decomposition process. If you’ve been tossing things in your bin because they seem “natural” or “biodegradable,” it’s […]
Most people don’t think about credit until they suddenly need it. A car breaks down at the worst possible time. A landlord runs a background check on your rental application. A bank reviews your mortgage file more closely than you expected. In moments like these, a three-digit number can suddenly feel heavier than it ever … Read more
How to Start Journaling (Even If You’re Not a Writer)—9 Simple Tips to Begin Today <img decoding="async" class="alignnone wp-image-35031 size-medium" title="How to Start Journaling (Even If You’re Not a Writer)—9 Simple Tips to Begin Today" src="https://www.ourdebtfreefamily.com/wp-content/uploads/2025/05/pexels-monstera-3363111-1-1024×682.jpg" alt=" Journaling isn’t just for novelists or poets—it’s a powerful tool anyone can use to reduce stress, boost mental clarity, and improve self-awareness. But if the idea of putting your thoughts on paper feels intimidating, especially if you don’t […]
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Image source: shutterstock.com The bill arrived like a thunderclap on a sunny afternoon. One day, your Florida health plan felt manageable, even responsible. The next, the premium looked like it belonged to a luxury sports car lease instead of a routine monthly expense. Phones lit up, inboxes flooded, and dinner conversations turned into financial post-mortems. This wasn’t a slow creep or an annual nudge upward; it felt instant, dramatic, and deeply personal. Welcome to Florida’s […]
High-reliability organizations (HROs) operate in environments where mistakes can have severe consequences. Industries such as healthcare, aviation, energy, and emergency services demand precision, speed, and coordination at every level. In these settings, communication is a lifeline. Unified Communications (UC) brings together multiple channels like voice, video, messaging, and collaboration tools into a single platform, ensuring that information flows seamlessly across teams and locations….
Have you ever heard of a film called “Cash on the Barrel Head” or Chester A Riley or William Bendix? William Bendix played Riley in a sitcom, “ The Life of Riley” the story of a middle class factory worker for whom life, including financial life, was an ongoing challenge. Nothing seemed to go right for the good-hearted, but inept Riley. I remember the film from my early days in employee benefits around 1961. It […]
Image source: shutterstock.com The moment a family loses someone they love, the last thing anyone expects is a financial ambush. Yet across Oregon, that’s exactly what keeps happening. Heirs open paperwork, talk to an attorney, or meet with an accountant, and suddenly learn that an estate most people would call “comfortable but not wealthy” is staring down a hefty state tax bill. This isn’t about yachts or sprawling vineyards. This is about family homes, retirement […]
Welcome To Bankeronwheels.com! This article is FREE — but only for humans. We don’t train future AI overlords 🤖🚫 👉 Log in or register (it’s fast & free): Continue with FacebookContinue with GoogleContinue with X .mh-wrapper{ padding;0px; } .nsl-button{ display: none !important; } .custom-social-buttons { display: flex; justify-content: center; gap: 15px; } .custom-button { padding: 6px 20px; border-radius: 10px; font-size: 16px; font-weight: bold; text-align: center; cursor: pointer; width: 40px; border: 1px solid #ddd; } .custom-google-button { display:flex; background-color: #ffffff; color: #db4437; align-items: center; justify-content: center; } .custom-social-buttons .custom-button { border-radius: 8px; transition: background-color 0.3s ease, transform 0.3s ease; transition-delay: 0.1s; /* Adds a slight delay before the hover effect starts */ } .custom-facebook-button { display:flex; color: #ffffff; align-items: center; justify-content: center; } .custom-twitter-button { display:flex; color: #ffffff; align-items: center; justify-content: center; } .custom-google-button:hover { background-color: #D93F2B; transform: scale(1.05); /* Adds a subtle zoom effect */ } .custom-facebook-button:hover { background-color: #365899; transform: scale(1.05); } .custom-twitter-button:hover { background-color: black; transform: scale(1.05); } .custom-button:hover svg path { fill: #FFFFFF; transition: fill 0.3s ease; transition-delay: 0.15s; /* Icon color change happens slightly after the background */ } .mepr-share-button:hover{ background-color: #bd3d59!important; } jQuery(document).ready(function($) { $(“.custom-google-button”).on(“click”, function() { var $googleButton = $(“.nsl-button.nsl-button-default.nsl-button-google”); if ($googleButton.length) { $googleButton.trigger(“click”); } else { console.error(“Google login button not found.”); } }); $(“.custom-facebook-button”).on(“click”, function() { var $facebookButton = $(“.nsl-button.nsl-button-default.nsl-button-facebook”); if ($facebookButton.length) { $facebookButton.trigger(“click”); } else { console.error(“Facebook login button not found.”); } }); $(“.custom-twitter-button”).on(“click”, function() { var $twitterButton = $(“.nsl-button.nsl-button-default.nsl-button-twitter”); if ($twitterButton.length) { $twitterButton.trigger(“click”); } else { console.error(“Twitter login button not found.”); } }); }); OR
If you’re feeling overwhelmed by your financial obligations and searching for actionable ways on how to pay off debt, you’re not alone. Millions of people want to take control of their finances, become debt-free, and…
Image Source: Shutterstock When I was working as a mechanic, I saw a ton of vehicles come through where the dashboard was lit up like a Christmas tree. It’s easy to brush off a light, especially when your car is still running okay. But there is one that you should never ignore. It could destroy your engine. The culprit? A flashing check engine light. If you’ve ever seen this on your dashboard, here’s what you […]