From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money.
From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money.
The investment business is full of theories and recommendations about how to accumulate wealth. But the field has very little to say about the best ways to decumulate, or spend down wealth.
We’re faced with a host of thorny retirement issues: Keep Social Security solvent. Make Medicare affordable. Many Americans aren’t saving enough. They want to retire earlier than they can reasonably afford. They’re effectively financially illiterate.
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Intro APR until almost 2021. Most normal balance transfer deals are 12-14 months. This card’s long intro offer for both balance transfers and purchases is almost unheard of. Plus there’s no annual fee or penalty APR – a late payment won’t automatically raise the interest rate.
The phone call that ruined Mohammed Hoque’s life came in April 2014 as he began another long day driving a New York City taxi, a job he had held since emigrating from Bangladesh nine years earlier.
Deutsche Bank acknowledged on Wednesday that it had used faulty software to screen customer transactions for suspicious activity, another blow to the lender’s reputation as top executives prepare to face restive shareholders at its annual meeting.
“Eventually, I’ll stop working.” Most of us think that and know it will happen, but millions of us worry whether we’re saving enough to live on once we do. We want to know: How much of my earnings should I set aside? What’s the magic number? 3%? 5%? 10%? More?
JACKSONVILLE, Fla. — Anti-money-laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog.
These last two articles have focused on how common it is for early retirees to continue making money after they say goodbye to the cubicle. I share stories like that because I’ve seen it happen in so many lives, including my own. Plus, if you do it right, work is fun.
A while back, I was asked to give an hourlong presentation where I talked about my key principles of personal finance. I chose to give a presentation where each slide was available for about a minute with one simple rule on each slide, giving me a minute to discuss that rule.
Shane Parrish was a cybersecurity expert at Canada’s top intelligence agency and an occasional blogger when he noticed something curious about his modest readership six years ago: 80 percent of his followers worked on Wall Street. The blog was meant to be a method of self-improvement, helping Mr.
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THINK OF THE upper echelons of the money-management business, and the image that springs to mind is of fusty private banks in Geneva or London’s Mayfair, with marble lobbies and fake country-house meeting-rooms designed to make their super-rich clients feel at home.
In 2011, my parents gave me a sum of money that was both outrageous and, in the real estate terms of major cities, quite reasonable: 10 percent down on the 250-square-foot apartment I still own in Fort Greene, Brooklyn.
There are as many investment strategies as there are investment opportunities. Some are good; many are terrible. Here’s the one that I lean on the most when I’m looking for low risk and above average returns. Goal: An investment algorithm to lean on hard when it is available.
The grid’s main purpose is to show long it will take you to retire given various changes in your income and spending levels.
Meb Faber asked a bunch of us bloggers to give him our top 3-5 most read blog posts of the year. I looked back at my trusty Google Analytics for the first time in a while and discovered that two of my top three in terms of readership were personal finance-related posts.
1. “The economy is like a machine.” The bottoms-up way Ray Dalio approaches the economy is analogous to value investing. You start with the simplest possible system since that is the easiest system to understand. For a value investor that relatively simple system is an individual company.
I was halfway through a job interview when I realized I was wrinkling my nose. I couldn't help myself.
Early last month, the security team at Coinbase noticed something strange going on in Ethereum Classic, one of the cryptocurrencies people can buy and sell using Coinbase’s popular exchange platform. Its blockchain, the history of all its transactions, was under attack.
One afternoon in October 2009, a former banking executive named Aaron Siegel waited impatiently in the master bedroom of a house in Buffalo that served as his office.
So here’s a mildly embarrassing personal truth I will admit: I’m 29 and I have no idea how money works. Budgets? Investing? Interest rates? I think the Fed does something important? Totally lost on me. I am aware that these things exist, but that is the extent of my financial acumen.
My name is Zach, and I write at Four Pillar Freedom, where I tend to tackle financial topics through data visualization. While J.D. is on vacation, I offered to explore one of his favorite topics: the effects of saving rate versus investment returns.
I spent years as a wealth advisor. Now, I run a firm that helps the ultra-rich protect their wealth. Here are my best pieces of money advice: We cannot escape taxes, as they impact not only our earnings but also our investments.
What do professors, real estate agents, farmers, business executives, computer programmers and store clerks have in common? They’re not immune to the harsh reality of living paycheck to paycheck, according to dozens of people who responded to a Washington Post inquiry on Twitter.
This article originally appeared on VICE UK. Like you and every other person in the world, I am no good at New Year puritanism. Two months in, I'm still often drunk and just as unfamiliar with kettlebell squats.
It’s a bright September morning in San Carlos, California, and Masayoshi Son, chairman of SoftBank, is throwing me off schedule. I’d come, as he had, to meet with the people he’s tapped to run the Vision Fund, his $100 billion bet on the future of, well, everything.
This story was co-published with The Atlantic. In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S.
Investing is one of those things in life people know they should start doing — but never get around to actually doing it. And … why? Especially since there are so many reasons to get started:
Amazon’s founder is America’s richest person, but the company paid no corporate income tax last year. How can that be?
When anxious young couples ask whether they are doing enough to secure their finances, my answer is standard: By the time you are 40, you will be surprised how well you are doing. There is something about turning 40.
In his 2008 white paper that first proposed bitcoin, the anonymous Satoshi Nakamoto concluded with: “We have proposed a system for electronic transactions without relying on trust.” He was referring to blockchain, the system behind bitcoin cryptocurrency.
Almost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. Volkov would speak to a sales trader—often, a young woman named Dina Maksutova—and ask her to place two trades simultaneously.
[This piece originally appreared in McSweeney’s new issue, The End of Trust, a collection featuring over 30 writers investigating surveillance, technology, and privacy, with special advisors the Electronic Frontier Foundation.
LONDON — Humanity is always moving forward with innovation after innovation improving global quality of life. The last 150 years have seen the most remarkable advancement of technology in history.
In 1956, Warren Buffett was managing about half a million dollars. He was working from a tiny study that could be entered only by passing through his bedroom. He handled everything personally: typing letters on an IBM typewriter, filing paperwork, doing taxes.
Bitcoin envy, the ultramodern malaise. News reports are full of this magic internet money’s rocketing value – currently $16,000 – and Facebook is dotted with people who picked some up at $500, $50 or even 50 cents. But the cryptocurrency ship hasn’t yet sailed.
Millions of students will arrive on college campuses soon, and they will share a similar burden: college debt. The typical student borrower will take out $6,600 in a single year, averaging $22,000 in debt by graduation, according to the National Center for Education Statistics.
A decade ago this week, Wall Street imploded. Read our special coverage. The global financial crisis is fading into history. But the roots of the next one might already be taking hold.
Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses.
There is a story that is commonly told in Britain that the colonisation of India - as horrible as it may have been - was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain.
Craig Jarrow shares his best productivity tips about email, motivation, procrastination, and much more.
If you think your family’s smartphone addiction is bleeding you all dry, you don’t know the half of it.
WHEREVER I go these days, at home or abroad, people ask me the same question: what is happening in the American political system? How has a country that has benefited—perhaps more than any other—from immigration, trade and technological innovation suddenly developed a strain of anti-immigrant, a
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING.
If you have stellar credit, you want a card with the most competitive offer. After all, if your credit qualifies you for the best, you deserve the best. With so many credit card offers, it’s hard to determine which cards are worth their salt.
Life has changed in many cities over recent years, as an astonishing number of people worldwide embrace a new lifestyle based on sharing: They sleep on strangers’ couches when traveling the globe. They drive cars or bikes at any time without ever owning one.
While your number might feel really large and impossible to attain, it will be much easier to reach if you break it down into smaller goals.
Since its official unveiling last month, critics have been teeing off on Hudson Yards, the $25 billion office-and-apartment megaproject on Manhattan’s West Side.
Last week a received a call from a reporter from VICE named Allie Conti, who is setting out on a journey to learn about managing money. Like many of her fellow Millennials, Ms. Conti doesn't have much experience with the markets, investing or even general personal finance:
Uber, Lyft, Airbnb and Pinterest plan to go public. California’s newly minted rich will be hungry for parties, houses, boats, bikes — and ice sculptures. Here comes the big one! SAN FRANCISCO — Big wealth doesn’t come in monthly paychecks.
A cryptocurrency exchange in Canada has lost control of at least $137 million of its customers’ assets following the sudden death of its founder, who was the only person known to have access to the offline wallet that stored the digital coins.
Tina Hay doesn’t think in numbers.
On a sunny Saturday morning in New York a few months ago, a group of 50 start-up founders gathered in the dank basement of a Lower East Side bar. They scribbled notes at long tables, sipping coffee and LaCroix while a stack of pizza boxes emanated the odor of hot garlic.
If the very idea of financial planning makes you break out in hives, you’re not alone.
If you’re lucky enough to be a member of the global 1%, last year was another good year to be alive (every year is pretty great, though). Your wealth bracket increased its share of global riches so that it holds just over half of global wealth, according to a new report from Credit Suisse.
In 2009, I made myself two promises when I started Financial Samurai: 1) write 3X a week on average for 10 years and 2) never lose money again. We had just gone through a financial beating where my net worth got slashed by 35% – 40% in just six months.
Just over 12 months ago I gave myself a challenge: give up spending on all but the essentials for a whole year. I started on Friday 27 November, just as many other people were hitting the shops. It hasn’t always been easy, but a year on I am wealthier and wiser.
It’s not that I want Bitcoin holders to suffer, really. As a technologist and entrepreneur, I’m sympathetic to and admiring of risk takers. But as a writer, I enjoy the sheer human-condition-revealing sport. I’m happy to watch other people play video games without playing myself.
Financial independence means you have enough wealth to live on, without working.
Not everyone has a financial adviser, and not everyone has the time to read a personal finance book. Luckily, there's the internet.
It's hard to have a meaningful discussion about Apple Pay (iOS' most recent foray into mobile payments) and Google Wallet (Android's three-year-old platform that's had tepid success) without talking about how the systems actually work.
When Leigh McIlvaine first learned that her student loan debt could be forgiven, she was thrilled. In 2008, at age 27, she’d earned a master’s degree in urban and regional planning from the University of Minnesota.
If you avoid checking your credit card or checking account balances, or keeping track of other financial accounts, you are living in a money coma. You might think that if you don't really know how bad it is, the problems will just go away. But they won't.
Behind the guards, the blast doors and down corridors of reinforced concrete, sit the encrypted computer servers -- connected to nothing -- that hold keys to a vast digital fortune.
Seldom does a new credit card go viral. There are the unboxing videos posted on YouTube: People exulting in receiving the precious new metallic rectangle, lovingly unwrapping it, boasting to the world of their ownership of it. (One video features a cat ripping the package open.)
They know more about their clients than the clients’ own wives. They are loyal in the face of appalling behaviour. They are the brains behind the most ingenious tax avoidance schemes. And there are more of them than ever The Pritzker family is one of the wealthiest in the United States.
It’s time for all of us to play defense, because Equifax clearly did not.
Confession: I only look at my bank account once a month. I know, I know, I should be checking my balance daily, but I have to admit, I find managing my money extremely intimidating.
Patience. Frugality. Sacrifice. When you boil it down, what do those three things have in common? Those are choices. Money is not peace of mind. Money’s not happiness. Money is, at its essence, that measure of a man’s choices.
I’ve run my own business, first as a sole-proprietor for nine years, then as a corporation for four. I’ve earned a good income in that time. It’s allowed me to take on interesting projects, travel full-time and work whenever I want.
SAN FRANCISCO — Recently the founder of something called Ripple briefly became richer than Mark Zuckerberg. Another day an anonymous donor set up an $86 million Bitcoin-fortune charity called the Pineapple Fund. A Tesla was spotted with a BLOCKHN license plate.
More and more, I'm meeting people who want to know how to retire early. There's been a lot of buzz in the media lately about early retirement, and that's led folks to wonder how much money they would need to quit their jobs — or if early retirement is even something they should consider.
Blogging is the best business in the world. I truly believe this as someone who has run Financial Samurai, one of the premier personal finance blogs since 2009.
It’s impossible to discuss new developments in money without thinking for a moment about what money is. The best place to start thinking about that is with money itself. Consider the UK’s most common paper money, the English five or ten or twenty quid note.
As 2018 headed toward its close, Americans' appetite for buying homes fell off a cliff. In December, US existing-home sales cratered to 4.99 million, 10.3% below the mark from the year-ago period, according to data released earlier this week by the National Association of Realtors.
Vicki Robin had no idea she’d become a millennial icon.
The rich think about money a little differently. Here's how you can capitalize on what they know. Image source: Getty Images. At times, rich people seem to inhabit another world, one apart from the financial concerns of the hard-working middle class.
COTATI, Calif. — Uber’s public stock offering next month will make a bunch of people remarkably rich. Peter Ashlock is not one of them, although he has toiled for the ride-hailing company almost since the beginning. Mr.
Part of the reason we accumulate debt is that there are so many distractions in our lives — things we want to buy but don't need.
With every car rental transaction comes the slightly uncomfortable moment when the agent behind the counter tries to foist the company’s insurance on you.
STOREY COUNTY, Nev. — An enormous plot of land in the Nevada desert — bigger than nearby Reno — has been the subject of local intrigue since a company with no history, Blockchains L.L.C., bought it for $170 million in cash this year.