So, it's mid-March, which means it's time for a monthly update. This month hasn't been too sexy, mostly I focused on consistent debt and cost reduction. Here is the breakdown of what I've been up to. Canceled Services & Reduced Bills This month I spent some quality time on the phone with Comcast/Xfinity. I got autopay set up for a total savings of $10 per month, or $120 … [Read more...] about James’ 2021 March Wealth Update
If you're like us DINKs, you're probably wondering how to improve your financial bottom line. The recent covid related economic slowdown has torpedoed some people budgets, so some options for seeing immediate gains to one's net worth are limited. One way to immediately improve your bottom line is to pay off your debts. There are several advantages in doing so. First, … [Read more...] about Rough Times: Pay Off Your Debts
Here is an example of a K-shaped chart for you. This shows the long time divergence of the amount of financial assets held by the top 10% versus those held by the bottom 50% of wealth percentiles. The graph has different axes, so sit and look at it for a while. In a nutshell, the share of financial assets held by the bottom 50% has declined from 71% in 1989 to 2.3% in … [Read more...] about Sign Of The Times: Massive Divergence Of Financial Assets Of Top 10% Vs. Bottom 50%
I've been seeing a lot of news articles talking about how wealth is owned in the United States. The main idea is usually centers around a statement such as "the rich are getting richer" or "only a few people control a disproportionate amount of wealth". The main idea behind much of these news stories is that only a few people control most of the money in our country. This has … [Read more...] about Poverty is Due to Individual Traits
If you've read the book The Millionaire Next Door, you probably know who the late Thomas J. Stanley is. Stanley is a former marketing professor at the University of Georgia who has made a career out of studying America's wealthy. Unlike a lot of the guru's out there, Stanley bases his observations on solid survey data, so I trust what he has to say. Specifically, in his book, … [Read more...] about Bad Grades a Barrier to Wealth? Think Again.
Married people are richer. If you read much personal finance literature, you'll have learned this by now. While it's an interesting observation, what's more interesting is why this is. Speculation has involved a variety of topics: … [Read more...] about Why Does Marriage Build Wealth?
File this under: watch to improve your basic investing knowledge. I was in the office this morning listing to some videos on finance while I worked on a project and I came across this nice little piece by William "Bill" Ackman. Ackman is the CEO of Pershing Square Capital Management LP. He's also a controversial activist investor and hedge fund manager. Whats great about … [Read more...] about Everything You Need to Know About Finance and Investing in Under an Hour
Not everyone is born the same. Some people are born taller or with better eyesight than others. Environmental factors like socioeconomic status impact life outcomes. One particular outcome of interest to readers of personal finance blogs is the relationship between intelligence and wealth - in particular, the question: are smart people richer? … [Read more...] about Are Smart People Richer?