Ideas on Personal Finance
A couple of years ago, the stock market crashed, and everyone was freaking out. The S&P 500 index fell from a high of around 4,800 to a low of about 3,500 in 2022—a 27% drop. Many stocks fell even more—Amazon’s stock dropped by half, and Meta (Facebook) was down 65%. Back then, I wrote a … Read more
In my last blog post, I discussed the growing concerns about the risk of World War 3. While I still consider such an event unlikely, it is worth exploring how one can prepare for extreme scenarios. Lessons from History Many books delve into the impacts of war on wealth. For instance, Wealth, War & Wisdom … Read more
It’s spooky time! And I’m not talking about Halloween… Every four years, our country gets excited, anxious, nervous, or downright terrified about the elections. Who will win? Who will lose? Will taxes go up? Will inflation come down? What will happen to my investments?? While I don’t have answers to any of these questions, history … Read more
In a world where everyone seems to be in a mad dash, the phrase “Slow Is Smooth, Smooth Is Fast” offers a refreshing perspective. Originating from the Navy SEALs, this idea emphasizes that mastering the basics at a deliberate pace leads to greater efficiency and effectiveness over time. Contrary to popular belief, the fastest route … Read more
In a prior article I had talked about why the government needs to create a recession in order to bring down inflation. I am not sure when exactly the recession will happen, but things are definitely slowing down. While the erudite readers of this blog prioritize saving before spending; the majority of Americans rely on … Read more
Habits shape our lives. But not all habits are created equal. Certain habits, known as keystone habits or cornerstone habits, trigger positive changes in other aspects of our lives. In the book “The Power of Habit”, Charles Duhigg writes that if you focus on one keystone habit, other positive habits will be easier to put … Read more
For some Finer readers who like to listen to podcasts, one of my articles was featured in the Optimal Finance Daily podcast. Please click here to listen online or click here to listen on the Apple Podcast app or search for “Optimal Finance Daily” in your podcast app (Episode 1,944). For those of us who … Read more
Here is an interesting thought experiment – would you switch places with Warren Buffet? When I ask this question, people say – Yes. After all, who would not want to be a multi-billionaire? But in addition to being rich, you will also be 91 years old. When given this information, almost everyone changes their answer! … Read more
The simple difference between working for money and having money work for you can be the difference between being poor or becoming wealthy! It’s your lucky day… Someone comes up to you and offers to make money for you. Even better, they expect nothing from you! Initially, you think that it is a joke. But … Read more
Evolution has taught us to think short-term and made it difficult to plan for the future. Making a few small changes might help us get better at financial planning. Why we are bad at Financial Planning Planning, by definition, involves thinking about the future. You may want to develop a financial plan to buy a … Read more