Published inMind Cafe·5 days agoMember-only9–5 Workers Would Be Happier If They Valued Their Time ProperlyValuing your time to maximize happiness — Here’s a question more people need to think deeply about: How do you value your time? Personal finance — and most things in life — is largely determined by how you trade the world’s two most valuable resources: time and money. Many people agonize over how they value money but…Happiness5 min readHappiness5 min read
Mar 8, 2024Member-onlyWhy You Probably Pay Cash When Buying Stuff You Don’t NeedWe pay with credit to remember and cash to forget — We are rapidly moving to a cashless society. Research from The Federal Reserve Bank of San Fransico shows that the share of payments settled in cash has decreased from 31% in 2016 to 20% in 2021:Money4 min readMoney4 min read
Mar 1, 2024Member-onlyThe Retirement Plan Cooked up by Two Behavioral ScientistsHow you can implement a similar approach to your retirement savings — The 401k perfectly encapsulates the brilliance and flaws of traditional economic models. Contributions are tax-deductible Investment gains grow on a tax-deferred basis Employers typically match a certain percentage of contributions If used correctly, it’s an incredibly powerful tool to help middle-income workers save for retirement.Retirement4 min readRetirement4 min read
Feb 21, 2024Member-onlyThe Avoidable Mistake Investors Make When the Stock Market Hits All-time HighsDon’t be clever, be consistent — Here’s something I overheard from two parents talking about investing in the cafe of the science center last week: “The stock market looks too high. I’m going to wait until the next crash before investing any more money.” Yes, I edited that sentence to be clearer for the purpose of…Investing4 min readInvesting4 min read
Feb 13, 2024Member-onlyThe Frustrating Advice Given to “Beginner” InvestorsIt’s one step away from unlocking an essential truth about investing — “Investing in index funds is great for beginners.” I’ve read that advice from financial writers countless times… and it drives me up the wall because it’s so close to providing readers with a simplified roadmap to building wealth as a long-term investor — but it doesn’t take the final crucial…Money4 min readMoney4 min read
Published inMind Cafe·Feb 10, 2024Member-onlyStressed about Money? Here’s What Will (and Won’t) HelpHow to Overcome Financial Anxiety — The people who need financial advice the most are the least likely to seek it. That was one of the many takeaways from a 2014 paper that studied how financial anxiety and intense emotional responses — like fear, anger, or excitement — impact whether a person seeks financial advice. In…Psychology4 min readPsychology4 min read
Feb 1, 2024Member-onlyThe New American Dream: Building Wealth Beyond HomeownershipOwning a home is fine — renting can be too — It’s time we stop fetishizing homeownership. Homeownership has long been associated with “The American Dream.” I think it’s time we completely disconnect homeownership from living some kind of dream life. …Real Estate6 min readReal Estate6 min read
Jan 27, 2024Member-onlyCredit Scores: The Mysterious Number That Has a Massive Impact on Your Financial Life“If you don’t take good care of your credit, then your credit won’t take good care of you.” ― Tyler Gregory This is the second post in a special three-part mini-series in the larger Dollars and Decades series. …Personal Finance5 min readPersonal Finance5 min read
Jan 23, 2024Member-onlyThe 8 Kinds of Debt You Must Navigate as a Young AdultDebt is unavoidable, so you need to manage it the right way — Paying off debt is the top financial priority of anyone living in debt. Long-term goals like investing and retirement planning are so far into the future that they feel abstract. You won’t feel the benefits (consequences) of investing (not investing) for decades down the road. But debt? Anyone who has…Money14 min readMoney14 min read
Jan 18, 2024Member-onlyIf Money Is Tight, You Should Focus Only on One Savings GoalYou may not have the luxury of spreading yourself thin — One goal pursued obsessively is better than five goals with weak commitment. Especially if money is tight right now. Read to the end of this article to learn: How people struggling to make ends meet can save money by focusing on a single savings goal. A framing technique that higher-income…Money5 min readMoney5 min read