For most of my life I’ve had about 6 - 12 months of living expenses sitting in cash in my checking account. This cash is my “emergency fund”. I’ve always felt fine about this because of these old-school popular money beliefs: Cash is king Cash solves problems quickly Holding cash allows me to jump on opportunities if they arise. Financial gurus say it’s
How Much Do You Give for Wedding Gifts These Days?
It’s wedding season! And do you know what that means?... It’s time for everyone to pull out their wallets and pay some money into the $50 billion dollar industry of wedding celebrations! 🤮 Actually, we might be spending much more than that this year... From what I’m hearing, many couples who got engaged before the pandemic didn’t get to have their weddings last
What Is Socially Responsible Investing and How to Start
Hey money friends! Are any of you nerds into socially responsible investing? (A.k.a. sustainable investing, ESG investing, or impact investing?) I got this question from a reader recently… “I want to start investing in more sustainable, equitable and ethical ways. I have it invested in TD's E-series funds and bonds right now (60% stocks/index funds; 40% bonds), but I
The Unknown Monk
"When I was a young man, I wanted to change the world. I found it was difficult to change the world, so I tried to change my nation. When I found I couldn’t change the nation, I began to focus on my town. I couldn’t change the town and as an older man, I tried to change my family. Now, as an old man, I realize the only thing I can change is myself, and suddenly I realize
5 Ways to Fund Your Sexy Roth IRA
Roth IRAs are the sexiest tax-advantaged account IMO, and I wish I’d discovered them earlier in life. Once money goes into a Roth IRA, it grows tax-free, can be withdrawn tax-free (contributions anytime, and growth anytime after 59½), and you are never required to take mandatory distributions. If I could snap my fingers and move all my after-tax dollars into a Roth IRA, I
How to Rent Out Your Stuff for Extra Cash This Summer
I love peer to peer rental platforms! If you own something, you can rent it out to others when you’re not using it and make some spare cash. And if you want to use something, you can rent one instead of buying one. Owners make money. Renters save money. Sharing stuff = less waste. It’s a win/win/win! We’re all familiar with AirBnB, VRBO and house-swapping platforms. But
Net Worth Report #10 “Boris’s Den”
We sold another rental property! Woohoo!! 🥳🎉🍻🙌 That’s 2 down, 2 to go. This is part of my long-term mission to reduce physical assets, lessen management duties, and move everything to more passive income streams. (Here are more details on why we’re selling a few rentals if you’re interested.) The proceeds from this sale were about $50k. And
There’s no such thing as a free cruise… Or is there?
About 10 years ago, my wife ran into the room and yelled, “Babe! I won a free cruise! All we need to do is take a phone survey and we get to go on a free cruise!” Bless my wife. She’s gullible. It’s one of her many adorable qualities (and also probably the reason she married a fool like me.) I hated to burst her bubble, but I said something like … “There’s no such thing
Money vs Moral Values (Part 2)
Good morning, friends! A couple months ago I wrote a post about a friend who had a money/moral dilemma. My friend was leaving his old job for a new one and was trying to figure out how to transition and qualify for a bonus before exiting. He was deciding between these 2 options: a) Give a full 2 weeks’ notice at the old job. But, this would mean forfeiting his
Inflation Quiz – How much do you know about this topic?
Have you noticed all the news about inflation recently? This topic sure is blowing up. 😉 Get it?... Blow up? Like balloon inflation? Wa-WAH. I’m sorry, bad joke. Honestly most of my jokes about inflation usually fall flat. OK, that was the last one, I promise! It’s just really difficult for me to write about boring topics like inflation without making crappy
