As much as we hate to, paying insurance is one of the necessary evils in life. Yes, it means the insurance companies are filthy rich – especially those with kick-ass legal teams who know every loophole in the book and therefore avoid payouts at all costs, but without them many people would have no safety ... Read More »
By Doug Casey, Casey Research. Even if you are already wealthy, some thought on this topic is worthwhile. What would you do if some act of God or of government, a catastrophic lawsuit or a really serious misjudgment took you back to Square One? One thing about a real depression is that everybody loses. As Richard ... Read More »
A common question I’ve heard plenty of times from readers is whether it’s a good idea to invest for retirement or to pay off one’s mortgage first. While I don’t give personalized investment advice, I will explain my personal preference, and explain why I focus more on doing what makes me financially secure than whatever ... Read More »
I’ve always argued that the best hyper-inflation hedge is an investment in “stuff” or “real investments.” Academics and the politically correct financial community will probably never take such terminology seriously, because it sounds old fashioned, makes me seem suspicious, and sounds like I don’t trust the system. Then again, all of this is true about ... Read More »
The biggest myth about wealth building is that having a “high income” is the same as being “wealthy”. They’re not the same concepts. People with huge incomes are often flat-out broke. If you keep up with financial news, you’ll hear almost every day about millionaires and billionaires going belly up. You’ll hear about celebrities having ... Read More »
It’s not uncommon to hear economists, politicians, and even normal folks to talk about the different economic “classes” in America. The lower class, the middle class, and the upper class. While dividing people up on the basis of their financial situation is probably not a healthy idea, it’s something that can be useful for looking ... Read More »
Japan, the second largest foreign government that effectively owns the US debt, has been hit with a catastrophic earthquake and tsunami. This probably means noticeably higher interest rates across the board for Americans over the next year or so as they rebuild and start selling US gov securities in order to pay for their reconstruction. ... Read More »
Yes, the economy is bad — and yes, it’s going to get worse. The Federal Reserve is hell-bent on destroying the dollar. The inflation is already starting… food prices, gold prices, energy prices, and commodities in general are exploding. Wednesday, the UN reported that food prices In 2008, food prices around the world hit a ... Read More »
Personal finance isn’t complicated. If you have a basic education, read a few books, and follow a basic financial strategy, you should be able to become debt free, become independently wealthy, and retire early. No, I’m not just making this up as a marketing gimmick. The vast majority of people in the West spend way ... Read More »
A few weeks back, I wrote a piece on Dave Ramsey that explained in no-uncertain language that I disagree with a lot of his financial opinions. He claims that everyone — even those with good self-control — should literally cut up their credit cards. He also claims that debt consolidation loans are always a bad ... Read More »
A comfortable retirement is impossible for billions of people around the world. It’s depressing, and it’s true. The other day, someone emailed me a question about how he could retire quickly, even though he had less than $10,000 and less than 5 years to retirement age. He wanted to know if I could show him ... Read More »
Every American teen has heard it. Whether it’s from a parent, a rich uncle, or an earnest high school counselor, the advice comes tumbling out in well-worn clichés. “Go to college and invest in your future,” “Work with your head, not your back,” and even the occasional “Get a degree, and you’re set for life.” ... Read More »
I’m going to sound like a jerk in this post, and I really do apologize for my tone. But I think it’s something that has to be said, so I’m going to go ahead and say it. I don’t like Dave Ramsey and I think he’s full of crap. I get it — he’s helped ... Read More »