I want to share with you all how I choose to invest. In order to do that, we first need to get back to basics.
Today I want to start with the accounts that I use.
Your investment accounts are basically the buckets in which you hold your investments.
This sounds like it should be simple. You open an investment account in the same way that you open a bank account. You put money into it and then you buy your investments.
It’s not quite that easy, however.
The government gives all sorts of different tax benefits to different people for different things. In order to get those tax benefits, you need to keep your investments in specific types of buckets. This means that you can end up with multiple buckets that you open yourself and multiple buckets that are opened by your employers.
Today I want to run through the accounts that I use and how they could help you. Continue reading “How I Invest – Accounts”
Stoicism has gotten a bad rap.
These days, when people think “stoic,” they think “emotionless.” “Indifferent to pleasure and pain” is now literally a definition of the word “stoic.”
That’s not what the Stoics were going for.
For the Stoics, the goal is not to avoid all emotion. It is to minimize negative emotion. I can see where people get confused, though.
I am often accused (usually jokingly, but often enough to take the hint) of being emotionless.
I disagree with this assessment. I feel plenty of emotions. I just try not to dwell on negative emotions.
And I try not to act on them, either. Continue reading “How to Control (and Minimize) Negative Emotions”
Gretchen Rubin wrote a book on forming habits called Better Than Before.
There are a few other good books on habits (I recommend Charles Duhigg’s The Power of Habit), but Rubin’s big innovation was identifying different personality types. Some habit-building techniques work for some people, but there are very few universal approaches that work for everyone. Rubin divides her readers into four groups and then provides tips specific to each group.
Under Rubin’s framework, I am a Questioner.
“Questioners question all expectations, and they respond to an expectation only if they conclude that it makes sense. They’re motivated by reason, logic, and fairness. They wake up and think, ‘What needs to get done today, and why?’ They decide for themselves whether a course of action is a good idea, and they resist doing anything that seems to lack sound purpose.”
Beyond habit-building, this is a pretty good view into my permanent mindset. I ask “Why?” about pretty much everything, and if the answer is any variation of “Because that’s how we’ve always done it” then I’m out.
Continue reading “Why You Should Ask Why”
A lot of people in the personal finance space tune out politics and recommend that their readers do the same. I don’t agree with this approach. I follow politics closely and stay up to date on policy proposals and all sorts of nerdy wonkery.
That said, when approaching topics for this blog, I make sure that every article has a takeaway that you can use to directly improve your life. That rule helps me stay focused on helping people with my writing rather than just writing about areas of my own interest. This also means I usually don’t discuss policy proposals making their way through Congress.
In the case of the current tax overhaul, I decided that it is worth discussing here. Continue reading “Everything You Need to Know About the New Republican Tax Plan”