A few months ago, a group of my husband’s online gaming friends mentioned they’re planning to take an Alaskan cruise next spring or fall, and invited us to join. While we’ve mentioned the idea of taking a cruise some time in the future, this conversation put the decision, place, and time right at our doorstep. After some thought, we decided… why not?  We have almost a year to save for it and plan the details, and […]

People worry about taxes on traditional retirement accounts.  During the owner’s lifetime, those worries are largely unfounded. On my YouTube channel I’ve demonstrated that even those with surprisingly large traditional IRAs are likely to pay modest effective tax rates during their own retirements.  Spreadsheets tell us the chances we will pay high taxes on our […]

YNAB is one of the best-known budgeting apps for a reason. It gives every dollar a job, encourages you to plan ahead, and forces you to pay attention to where your money is going. However, it isn’t the right budgeting tool for everyone. The service costs $109 per year or $14.99 per month. Some people also find the system too hands-on, want better investment tracking, or simply prefer a free budgeting app. I reviewed the […]

The Happy Cent A smile on the face of a penny Carried where it is easy to find Is my inspiration to remember To keep all my blessings in mind. The trials we encounter are many It is often quite easy to frown But a touch or a glimpse of my penny Helps me focus on the good that abounds. There’s no magic found in my penny Nor does it prevent or protect But the joy brought to mind when I see it Has a greater, long lasting effect It reminds me of others less fortunate Making my situation less bleak I recall the man who complained of no shoes Until he met a man with no feet. I’m reminded that life is not perfect And one of the numerous reasons to cry But a frown we endeavor to change to a grin Helps uncomfortable moments go by. My penny reminds me of the thoughtfulness Of friends who have given, and when It repeatedly tells me that love is around And will triumph in the end. We find our good fortune in many ways I can feel rich though my money is spent For I can always give something of value away The smile from my HAPPY CENT. ****** I found this at a yard sale and thought it would be fun to share 🙂 (I also got it for free – didn’t even cost me a cent!)  You’re supposed to keep it in your pocket “as a constant personal reminder of the many small reasons we have to rejoice in every day.” Amen to that. Fun Random Fact: My dad keeps an old silver dollar in his pocket for good luck… only it’s fake! He asked me to conjure one up for him a couple years back which I did, but then a month later he lost it at the gym I got him another one, only now he’s too afraid to carry it around so he did what any frugal person does and took to Temu to order a bag of a dozen fakes! Lol… I told him I don’t think it works the same way, but hey – what do I know about the Luck Fairy? Anyways, happy to forward this to anyone if they want it 🙂 First one to email me gets it. [This post, The Happy Cent ¢, was first published by J. Money on Budgets Are Sexy]

This post may contain affiliate links. If you make a purchase through one of them, I may earn a small commission at no additional cost to you. Please see my full disclosure policy for details. If you’ve recently searched for a high-yield savings account, there’s a good chance you’ve come across Raisin. Unlike a traditional bank, Raisin gives you access to savings accounts and certificates of deposit (CDs) from a network of more than 100 […]

Don’t miss an episode of our podcast, Personal Finance for Long-Term Investors. Available on all podcast players. Here’s the latest episode: 99% of my prospective clients fall cleanly into one of two buckets: “Jesse – I want to hand you everything. You’re analyzing my life, proposing ideas, and then you are pushing the buttons to enact these changes. I, the client, don’t want to push the buttons.” “Jesse – I’m only asking you for advice. You’re analyzing and proposing, sure. But then I, the client, will choose what advice to accept, and I’ll push those buttons if and when I choose to.” It’s like flying. Bucket 1 wants me to be their pilot. They’re the passenger. Clean separation. You relax in your seat and read your book. We’ll be in Palm Springs in 3 hours. Bucket 2 wants a flight instructor, with them (the client) as the student pilot. I’m the expert, but they’re flying the plane. They could misunderstand me – or ignore me – and do something dangerous, dumb, etc. I have a clean personal preference – I want to be the pilot. There are important and simple reasons why: I want my advice to be implemented. If I’m the pilot, then my advice gets implemented every time. But if I’m just the instructor, then perhaps you forget to implement my advice. Or you delay. Or you choose not to implement it at all. All problematic. You’ll make mistakes. I’ve seen too many overconfident DIYers make startlingly bad mistakes. Here’s an example that a “flight instructor” advisor recently shared in an industry forum: The client intended to do a $300,000 Roth conversion but instead did a $3.5M Roth conversion. The advisor made the recommendation (“convert $300K”), but the client pushed the (wrong) buttons ($3.5M). I would estimate this was a $400,000 – $600,000 mistake. The client converted $3.2M too much, at total tax rates 12-20% more than intended. Obviously, I am cherry-picking an example. Plenty of people DIY their finances every day without making mistakes. I chose a startling story. But the fact remains – I believe more can (and does) go wrong during “flight instructor” financial advice relationships. There’s a similar saying in the trades. “I can do the job for $20,000. If you want to help, it’s $30,000.” Because when a homeowner wants to “pitch in,” it’ll mean that the professional needs to: Fix mistakes made by well-meaning amateurs. Stop and explain things instead of just doing them. Wait on the client’s schedule instead of working straight through. Manage the client’s opinions/change requests along the way. It’s a damn close analogy to financial planning. I love my work, and I’m happy to show my clients “around the cockpit,” as it were. I’ll give away free wings all day. But when it’s time to fly,

Now fuel costs are drifting downward, but that doesn’t mean airfares will follow in any meaningful way soon. 

“Make sure you buy life insurance before your disability claim is finalized.” I hear this myth a lot. And, like most myths, it’s based in a little bit of fact. But that little bit of fact doesn’t make it a true statement.  Insurers underwrite based on your actual medical history and symptoms, not on whether… | Read More… The post Life Insurance and Disability Claims appeared first on KateHorrell.