Family Finances

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Top 10 Financial Moves To Reduce Stress And Anxiety

Top 10 Financial Moves To Reduce Stress And Anxiety

I realized something important after writing about the best reason to retire early. Money doesn’t buy everlasting happiness. However, having more money can reduce stress and anxiety. The goal of achieving perpetual happiness is not realistic. Happiness ebbs and flows. It’s more exciting to be an 8 out of 10 on the happiness scale because […]

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For A Rich Long Life, Marry An Asian Person

For A Rich Long Life, Marry An Asian Person

Do you want a rich long life? Of course you do. It turns out that marrying an Asian person may give you the highest chance of outliving and outearning most people! Let me share how I came to this conclusion. After publishing my post on how life expectancy greatly depends on wealth and location, a

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Before Having Kids, Consider Spending Lots Of Money

Before Having Kids, Consider Spending Lots Of Money

Most responsible adults who want children will strive to save and invest as much money as possible before becoming parents. However, after being a parent for six years, I realize this advice might not be ideal for living your best life. Everybody knows raising children is expensive, especially if you live in a major city.

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Generational Wealth And The Angst Of The Not Rich Enough Class

Generational Wealth And The Angst Of The Not Rich Enough Class

Have you ever wondered why there is so much angst and anxiety from some high-income earning households that seem to have it all? Based on my years of research, the three main reasons are: 1) never-ending comparison, 2) a lack of generational wealth, and 3) having children. Generational wealth is next-level wealth. If you have

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Free Money! How To Game The College Financial Aid System

Free Money! How To Game The College Financial Aid System

College is expensive and will only get more expensive over time. If you can get good college financial aid in terms of grants and scholarships (free money), as opposed to bad financial aid (loans), attending college will be much more affordable. We’ve already talked about the different ways for us to pay for college. Now

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The Different Ways To Pay For College: My Surprising Blind Spot

The Different Ways To Pay For College: My Surprising Blind Spot

One of the main reasons why I read lots of books is to learn from people who’ve been there before. And after reading The Price You Pay For College, one of my biggest blind spots I realized is that I don’t have to save so much for college anymore! If you are a parent who’s

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Investing Family Money Can Be A Stressful Full-Time Job

I finally understand why I haven’t been able to shake the niggling stress I’ve been feeling lately. Despite writing less, doing less business deals, and exercising more, I still feel this gnawing pressure because I’m responsible for investing my immediate family’s money. When you invest family money, family money always feels more important compared to

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How Landlords Can Create Teachable Moments For Their Kids

I have a love-hate relationship with owning real estate because something always comes up. The more physical rental properties you own, the more problems you will have as a landlord. In June 2022, I decided to rent out a fully remodeled single-family home I had purchased in 2019. We had originally planned to live in

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Rolling Over Leftover 529 Funds Into A Roth IRA: Who Benefits?

A 529 plan is one of the best generational wealth transfer vehicles. Instead of just giving our kids or grandchildren money, it’s way better to give them the gift of education. Thanks to the SECURE Act 2.0, we will be able to roll over leftover 529 funds to a Roth IRA without taxes or penalties.

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How To Develop A Better Personality To Get Into An Elite University

How To Develop A Better Personality To Get Into An Elite University

Want to get into an elite university? Develop a better personality so you can receive a higher personality score during the admissions process. In the Supreme Court case regarding using race-conscious admissions (affirmative action) at Harvard University and UNC, we learn Harvard assigns a personality score to every applicant. By assigning a lower personality score

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Where Are All The Adult Athletes? Sports And Your Career

Where Are All The Adult Athletes? Sports And Your Career

For over 20 years, I’ve been a tennis club member. Player levels range from beginner to ex-professionals. Everybody gets along and rallies around a sport they enjoy, no matter their level of wealth. But I just realized something odd. And the realization wouldn’t have come had I not become a father. After almost three years

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Conduct A Regret Minimization Exercise To Help You Move Forward

Conduct A Regret Minimization Exercise To Help You Move Forward

One of the main reasons why I wrote Buy This, Not That was to help readers feel less regret by making wiser choices. Regret is one of the worst feelings, especially if it is a type of regret that could have been prevented through knowledge. The easiest way to stop saying, “If I knew then

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Overcoming The Trough Of Sorrow: Defeating An Emptiness Inside

Overcoming The Trough Of Sorrow: Defeating An Emptiness Inside

Here in the San Francisco tech startup scene, we have a term called “the trough of sorrow.” The trough of sorrow refers to the sadness that comes after a setback or a big win. After a setback, you’re tasked with finding product-market fit to survive given your company has a limited runway of cash. You

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Vacation Property Comparison: Single-Family Mansion Vs. Resort Condo

Vacation Property Comparison: Single-Family Mansion Vs. Resort Condo

If you’re in the market for a vacation property you will likely have to decide between purchasing a single-family home or a condo. However, what if you have enough money to buy a single-family mansion for $10+ million versus a condo at a luxury resort for $500,000+? I used to think a single-family mansion for

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How To Get Life Insurance For Free: Make More Money

How To Get Life Insurance For Free: Make More Money

Have you ever wondered how you can get life insurance for free? I’m not talking about getting free life insurance from work. It usually isn’t enough. I’m talking about how to get free life insurance outside of work. My wife and I have life insurance because with have two young children, a complicated net worth,

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The Unexpected Financial Benefits Of Having Children

The Unexpected Financial Benefits Of Having Children

One of the main reasons why people delay having children is its cost. Rising prices for daycare, preschool tuition, and shelter plus the opportunity cost of not working, partially explains why our population replacement rate is declining.  The cost of raising children worried me so much that I actually had a $1 million net worth

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The Age Children Begin Loving Their Fathers As Much As Their Mothers

The Age Children Begin Loving Their Fathers As Much As Their Mothers

Are you a stay-at-home father or father who spends a lot of time with his children? If so, you may be second-guessing your decision to spend so much time with them during their early years. Without some reciprocating love, you might be wondering whether your effort is worth it. You see, the more time and

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Lending Money To Friends And Family: How To Determine When It’s OK

Lending Money To Friends And Family: How To Determine When It’s OK

One of my tennis buddies told me a funny story about borrowing money from his parents. He was 28 at the time and asked for a $30,000 loan to buy a condominium. Since his parents had the spare cash and weren’t making much from interest, they figured lending money to him was a win-win situation.

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Survey: Over 50% of Parents Opt for Chore-Driven Allowance for Kids

An allowance can be an amazing way to start teaching your children about money management. However, there’s debate when it comes to how much allowance to give, when to start giving an allowance, and whether the amount of allowance for kids should be tied to chores. Not to mention, some parents don’t believe in allowances

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Why We Need A Will And A Power Of Attorney

Why We Need A Will And A Power Of Attorney

When you hear, ‘estate planning’ what is the first thing that comes to mind? For most of us, we may default to the process of dispersing physical assets such as homes or cars. While this indeed does apply, estate planning in general captures so much more.  It also determines how a person’s assets will be

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