cash-value life insurance is for suckers

Cash-Value Life Insurance Is For Suckers, Buy Term Instead

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Being properly insured is part of having your finances in order. Insurance will protect you and your family far better than an emergency fund in the event of a disability, critical illness, or death. Nevertheless, it’s something many young people neglect. In recent weeks, a handful of readers have approached me with questions about cash-value life insurance. I’m not sure if it’s increasing in popularity, or you simply don’t become a target of insurance salespeople until your late-20’s and early-30’s. Regardless, there seems to be an increasing trend of insurance policies being pushed on millennials. As you might already know, I’m highly mistrustful of financial salespeople and products. I am wary of financial advisors that push high-fee investments. I loathe mortgage brokers that get people into debt in order to come up with their down-payments. And I deeply dislike insurance agents that wrangle people into expensive policies. If you want to know what […]

Build a Better Budget is here!

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It’s been a full-year since I launched the Master Class Money investing program, so I’m really excited to bring my second product to market: The Build a Better Budget program This is a 4-week daily eCourse that will help you create a budget that makes you rich. If you’ve been feeling constrained and deprived when you try to reign in your spending, this is the course you need to give you more money for your day-to-day expenses and your long-term financial goals. If you want to see a detailed breakdown of the curriculum, visit the course page here. The course is priced at $35 USD and contains all the tools & resources you need to build the best budget you’ve ever had (promise!). There are downloadable spreadsheets, checklists, examples, and more than 20-videos of yours truly giving you instructions every step of the way. I can’t wait for you to […]

shortcut to put more money in the budget

One Simple Shortcut To Put More Money in Your Budget

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I know I’ve shared before how dismal the economy is where I live. It’s now been nearly two years since the price of oil fell from over $100 per barrel, and with it my city has shed morale even faster than it shed jobs. On the upside (for some), the bad economy is taking its toll on real estate and driving prices down. This is affecting both housing prices and rents. With our lease due for renewal in July, my husband and I asked our landlords for a lower rent. We had a lot of bargaining power — we even sent a listing for a similar unit in our building for $250/mo less than ours. Additionally, we found a half-dozen comparable apartments nearby, with cheaper rents that we could move into if our offer was refused. Thankfully, it wasn’t. We succeeded in lowering our rent by 20%, saving us hundreds of dollars per month […]

what should your net worth be by age

What Should Your Net Worth Be By Age?

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What should your net worth be by age XX? Good question. This is probably one of the most common inquiries I get, but I’m always hesitant to answer. Mainly because there really is no good answer. A lot of the targets are arbitrary, including the ones in this post. There really is no right number to set as your net worth target. Personal finance is personal, and this is one of the most personal numbers of all. What will be “enough” depends on you and factors your don’t know yet. Some people cannot live on less than $100,000 per year, others struggle to spend as much as $25,000. These people do not need the same net worth at every age milestone. Knowing how much wealth you personally need to accumulate in order to live comfortably is far more important than knowing what everyone else has. For that reason, I would encourage you […]