In March 2019, Suze Orman made the ridiculous claim that she has never bought a cup of coffee. “I wouldn’t buy a cup of coffee anywhere, ever — and I can afford it — because I would not insult myself by wasting money that way,”Suze Orman, CNBC Of course you can afford a cup of coffee, Suze. You already own a private jet and private island, what's a cup of coffee in the … [Read more...] about Suze Orman’s Coffee Story Shows Why Personal Finance Gurus Should Be Ignored
Budgeting & Savings
Five Personal Finance Tips That Actually Work
The personal finance industry is filled with sound bites and one-liners that sound good without making an impact. Below are five pragmatic personal finance hacks that will move the needle. These aren't easy, but if they were, everyone would be rich. Photo by Suzanne D. Williams on Unsplash Live Below Your Means Once you make a certain amount of money, there is … [Read more...] about Five Personal Finance Tips That Actually Work
Why You Should Not Keep a Budget
With all of my writings about living frugally and maximizing your hierarchy of savings, you might be shocked that I'm completely against keeping a budget. Here's the deal, I have never kept a budget. Not only are they a waste of time, but they can actually deceive you and cause you to spend more money. Aside from causing you to spend more money, managing a budget … [Read more...] about Why You Should Not Keep a Budget
Warren Buffett Lives In a Modest House – Here’s What it Looks Like
Warren Buffett has a net worth of roughly $87 billion, but you wouldn't know it from the house he lives in. Buffett originally bought his Omaha, Nebraska home in 1958 for $31,500, which is roughly $250k in today's dollars. It's 6,570 square feet, had 5 bedrooms, and 2.5 bathrooms. Despite his $87 billion net worth, Buffett's home is worth only $653k today. His house is a … [Read more...] about Warren Buffett Lives In a Modest House – Here’s What it Looks Like
What is a Mega Backdoor Roth?
Shielding your income from taxes is a top priority as you make more money. Taxes are one of the largest wealth destroyers you'll face, and a mega backdoor Roth will help you shield more money tax-free. Mega backdoor Roths allow you to save as much as $37k every year tax-free, so you can imagine how much this adds up over several years. Below is a breakdown of the … [Read more...] about What is a Mega Backdoor Roth?