It’s common to hear people say, “Fifty is the new forty” or even “Sixty is the new forty.” For the record, this isn’t some kind of “new math.” It’s a way of saying that people are doing certain things later in life—the kinds of things previously reserved for younger adults. Think of your neighbor who […]
Seventy is the New Sixty-Five Read More »
For the last couple of weeks, we’ve been examining the two primary forms of life insurance—“term” and “whole life” (or “permanent”). More specifically, we’ve been evaluating the commonly repeated advice: “Buy term and invest the rest.” It seems so obvious. When you’re young and healthy, term insurance is shockingly inexpensive. Doesn’t it make sense to
Should I Buy Term and Invest the Difference? (Part 3) Read More »
Last week, I began a discussion about the two most common kinds of life insurance: term insurance and whole life insurance—and which one makes the most sense for you. Specifically, we examined this commonly-asked question: “What if, instead of buying a more expensive whole life insurance policy, you opted for a less expensive term policy
Should I Buy Term and Invest the Difference? (Part 2) Read More »
In discussions of life insurance, you’ve probably heard someone say, “Buy term and invest the difference.” Some have suggested this popular mantra originated with financial guru Suze Orman or perhaps Andrew Tobias (in his 1978 book, The Only Investment Guide You’ll Ever Need). Others attribute the pithy sales pitch to insurance magnate A. L. Williams,
Should I Buy Term and Invest the Difference? (Part 1) Read More »
As people near retirement, most ask some version of this question: “What financial risks should I watch out for in this next chapter of my life?” The answer is not that complicated: Many of the same risks you face now—plus a couple more. Here’s why that’s interesting: If you are about to voluntarily retire, you
How to Sleep Better in Retirement Read More »
I hear stories like this all the time: “So, this guy talked me into putting some money into his investment opportunity. Frankly, he just wore me down. I’m not sure how that investment’s doing, or even if this guy is on the up and up. Suggestions?” Two words: Take responsibility. Financial problems begin when you
Take Responsibility for Your Money Read More »
Most parents eventually think, “College…oh yeah…what’s THAT going to cost?” Smart question to ask—and answer—ASAP. (Have you checked the price of higher education lately?) According to SoFi, as of the 2022-23 school year, a four-year degree from Harvard (tuition, books, and all other expenses) now runs $334,152. If you want to tack on a degree
How to Pay for College Read More »
If you had invested $100 in an S&P 500 index fund on January 1, 2020, it would have been worth… Which raises the question: Is this kind of volatility normal? Maybe we need to define “normal.” One wag has suggested that the only normal people are the ones you don’t know very well yet. The
Why the Stock Market Goes Up Read More »
I get this sort of question often: “A friend introduced me to a very nice Christian man who is recommending I put my money into some kind of annuity or bonds or something like that. I’m not a stock market person. I don’t understand finances, but I really like this young man. He seems so
The Person Behind the Plan Read More »
This is for the person who feels financially “gloomy.” Keep reading only if: (a) you’re convinced the economy will be bad for a while; and (b) because of that belief, you’ve put a halt to investing and all other financial moves. I understand why you feel cautious. I get wanting to be safe and watch
What to Do in (Financially) Gloomy Times Read More »
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