Posted October 28, 2009 - 05:00 by Philip Brewer
There are people out there whose livelihoods depend on the fact that most people go every day to some job or another. Business owners, investors, retired folks -- capitalists in general -- pay their expenses with profits that would be threatened if there weren't plenty of workers trading their life for a paycheck.
Posted September 23, 2009 - 05:00 by Philip Brewer
If you quit checking your 401(k) balance last year, because the market crash made it too depressing, now might be a good time to take a fresh look. It'll still be well down from the peak, but it's probably recovered quite a bit from the low. However small it may be compared to some imagined goal, don't underestimate the value of any amount of retirement savings.
Posted August 10, 2009 - 12:00 by Philip Brewer
Especially for things people often buy on credit, like a car or a house, there's a tendency to divide the ownership into two periods--while the loan is being paid off, where the item is expensive, and after the loan has been paid off, where the item is free. This is a fundamental misunderstanding of capital costs.
Posted June 11, 2009 - 06:39 by Philip Brewer
When I went off to college in 1977, inflation was high and rising, but the maximum interest rate you could earn on a savings account was capped by the government at a fraction over 5%. The conventional wisdom was "It's dumb to hold cash when inflation is over the rate you can earn." I absorbed that conventional wisdom, and it led me to make some dumb decisions.
Posted March 17, 2008 - 06:13 by Philip Brewer
Among the fraction of the population who manage to put money aside, many view their investments through the lens of retirement. They've got a number in mind--call it $X--enough that they never need to work again. Until they've got that, they're stuck working away at the daily grind. There's another way to do it, though. Make your goal to live live on your own terms for the whole length of it, not just for a little while at the end.
Posted January 9, 2008 - 07:23 by Philip Brewer
Especially for people hoping to retire early, but also those just hoping they can retire at all, there's the question, "How much money do I need?" People who are already retired want to know "How much can I can spend, without running out of money?" Some people refer to the answer to the first question as "The Number." Really, though, these are both the same question.
Posted August 26, 2007 - 16:15 by Philip Brewer
One of the most frugal things you can do is have capital. Whether it's money in the bank or a nice chunk of reasonably liquid investments, having capital not only makes money (through the investment return), and gives you security and flexibility, it also cuts your expenses.
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