End of an Era (Part 1 of 4 on my move to San Francisco)

    Part 2 I recently moved from the Dallas area to the Bay Area. The first thing I miss is the cost of living. The second thing I miss is the food. Dallas Fort-Worth has Mexican, cajun and good barbecue. But, thankfully, the summers here are much more bearable. It's been 61 and sunny all day everyday for the past … [Read more...]

If You Prioritize Stability, Don’t Prioritize Stocks

We haven't written about Chinese markets since our epic post comparing social and political reactions to the market fall in China and recent American market falls. Safety, Risk, and the Risk of Not Having Enough At issue (or reminding us of the issue), an interesting quote in a New York Times article way back from July 6th, entitled "Chinese … [Read more...]

Why Getting an Emergency Fund While in Debt Ignores the Real Emergency

Let's not bury the lede on this one: in any actual emergency situation I can imagine (short of losing my credit cards) my first move is to... pay for it with my credit cards. My opening sentence was way too verbose, but you know I can't stop a blog post there.  Let me go over the reasons why my emergency fund philosophy has evolved to my current … [Read more...]

Net Worth by Age Calculator for the United States

Ever wonder how your net worth stacks up with the rest of your age group in America?  We made a calculator using Federal Reserve data - merely enter your net worth and the age range of the primary earner in the household to see which net worth quantile your net worth puts you in for your age group! Once you select your inputs, we will graph all … [Read more...]

Can an Average Income Person Gain an Incredible Net Worth Through Investing?

Can we expect folks with average or below average incomes to be able to amass a sufficiently large financial nut in retirement? Financial sites like to stress that good decisions over a sufficiently long time lead to very good results. Applied to your retirement, that means small savings sacrifices over a long career compounded at a reasonable … [Read more...]

The Aspirational Class: How Many Accredited Investors Are There in America?

We estimate that 8.25% of all American households - or roughly 10,108,811 households - count as Accredited Investors. (As of 2013, calculated using Federal Reserve SCF microdata). Furthermore, we estimate they hold about 70.28% of all private wealth in this country, or a whopping $45.5 trillion. But, let's back up for a second, for everyone … [Read more...]

Average Drawdowns of Wealth for American Retirees

This article is an attempt to look at the drawdown of wealth for American retirees, strictly by looking at net worth data for heads of households with age ranges 65-69, 70-74, 75-79, 80-84, and 85+.  This data was computed using 2013 Federal Reserve SCF data from the Federal Reserve. After Retirement, How Do Americans Draw Down Their Wealth? In … [Read more...]

The Net Worth of Different Age Groups in America

In this article, a continuation of our American Net Worth series, we explore the net worth it took to be in the 10%, 25%, 50%, 75%, 90%, and 99% (the 'one percent') bracket in 2013 for American Households headed by 18-24 year olds, 25-29 year olds, 30-34 year olds, 35-39 year olds, 40-44 year olds, 45-49 year olds, 50-54 year olds and finally 55 … [Read more...]

Should You Aspire to be a Journalist? Incomes for Journalists, Young and Old

Making the rounds today was an excellent article on the business of being a journalist (as told to a theoretical aspiring journalist) from Felix Salmon.  Salmon recounted his own story of finding success by paying his dues at a number of smaller and - his words - dryer publications before getting his break as a blogger for Nouriel Roubini. The … [Read more...]

The Net Worth of American Retirees

Continuing our little series on American Net Worth secrets revealed by the Federal Reserve's 2013 Survey of Consumer Finances, I figured we'd zoom into a little segment of the population where more than a few politicians have made their careers: retirees. Okay, that's a big segment.  Regardless, let's look at the Net Worths of households led by … [Read more...]

An Ideal Savings Rate Calculator for Financial Independence and Retirement Planning

The other day we posted a long survey about how to determine what your ideal savings rate might be.  Today, we follow through on what we promised to you - a fully editable calculator which allows you to put the lessons you learned in our first post into action. The Ideal Savings Rate Calculator - When Can YOU Retire?   Disclaimer: … [Read more...]

What’s the Ideal Savings Rate for Retirement or Financial Independence?

I'm under no illusion that this is the first time a Personal Finance writer has ever undertaken this topic.  However, DQYDJ is probably the first who will follow up their initial treatment of this piece with a calculator for you to do the math on your own finances (hold your breath!).  Yes, we are gentlemen and scholars.  You're welcome. And … [Read more...]

Are You Evil? Were Your Parents? The Public School Dilemma.

I know, I know - the article was probably some form of self-referential mocking of the "#Slatepitches" meme and a unique combination of trolling and clickbait.  Well played, Allison Benedikt... you piqued my interest with your article "If You Send Your Kid to Private School, You Are a Bad Person." article. Combine Poe's Law with tons of social … [Read more...]

Should You Care About Income When You Choose a Major?

This site is no stranger to wandering into controversial topics like... well, anything college-related: We asked if you should get a degree or become a truck driver We discussed whether today's college graduates are better off than graduates of a generation ago We even asked if certain majors should cost more With all of those minefields … [Read more...]

Is Dave Ramsey’s Investment Advice Misguided?

Editor: We've since put our S&P 500 trailing returns calculations into a tool you can use. Dave Ramsey is a controversial figure in the Finance realm, at least in blogs (and blog comments), discussion boards, and other mediums where personal financial mathematics are discussed.  However, Ramsey's controversy doesn't generally come about from … [Read more...]