With interest rates rising and housing prices up, it’s no surprise that home affordability is in the headlines. I thought I’d share these two charts that highlight trends in the ‘starter home’ market … First, this US Census chart is making the rounds as evidence that young people can’t afford homes … You can see that the gap between 35 & 65 year olds has … Continue reading Starting Out or Waiting – Homeownership
It’s pothole season and good friend and regular reader, “Bowmanifesto”, commented about the “financial potholes” that prevent people from reaching FIRE (financial independence & retiring early). Just like the potholes in the road, there are hundreds of financial hazards that we all need to dodge each year. Just like the holes in the road, financial potholes aren’t catastrophic, they are just annoying costs that add … Continue reading Financial Potholes – Ten To Dodge!
I really hate writing articles about political issues, but here I am again. The Biden administration’s student debt cancellation policy – which seeks to erase $430 billion in college student loan debt – is in the headlines again. We’re awaiting a Supreme Court’s decision on its Constitutionality, likely this June. It caused me to look a little into the scope of the “CRISIS” as it … Continue reading Stop Calling Student Loan Debt A “Crisis”
The failure of the Silicon Valley Bank – and subsequent other banks – garnered all of the headlines this week. Like many of you, I’m sure, my simple response was to double-check that none of our bank accounts had more than the FDIC $250K in them. I didn’t expect we had that much parked anywhere, but worth double-checking, I figured. We were, as expected, good. … Continue reading Banking Mess Involvement
I’m turning 57 this year, which certainly means I’m on the downhill side of the mountain. Not just in age / likely lifespan, but also in annual spending. This JP Morgan chart shows ‘the other side of the mountain’ in spending. The average American household slows spending quite a bit as they age … more than I would have guessed. I’m seeing a pretty steady … Continue reading Heading Down The Hill …
It’s been about three years since the start of the pandemic. I’m not sure if it’s officially over yet, but Americans have returned to their old financial behavior: save little & charge much. Here are two charts I came across recently that paint the ugly picture. First, the US Savings rate fell to 4.7% in December (well below the 8.8% pre-pandemic average) … Second, it’s … Continue reading Americans Less Financially Resilient Than Ever?
(This is NOT a sales pitch / associate link article) I’m back to trying the travel hacking again. I started rotating credit cards and banking miles before the pandemic interrupted everything, but quit when everything shut down. A few friends suggested I start again, and I just signed up for a new Delta/American Express Reserve Card. This is the first card I’ve had where I … Continue reading Taking Flight
The headlines are full of celebrities & athletes who blow through their millions and often end up broke. They live an indulgent & colorful lifestyle that quickly catches up with them. That’s why it’s great to see a colorful character like Chad “Ochocinco” Johnson, who managed to save 80% of his NFL career earnings. To save money he even lived at the Cincinnati Bengals’ stadium … Continue reading Staying In The Pocket
My wife was appointed executor of her father’s Will after his passing earlier this month. It’s a daunting role that starts immediately and lasts until all bills are paid and assets distributed. For us, there is a lot to learn, but she is approaching it as her last opportunity to honor her father’s wishes. Here are seven key things we’ve learned that an executor of … Continue reading Executor Role Overview
Mr. FireStation has been tied up with a family emergency over the last week. Coincidentally, regular reader, “Klaus” Wentzel offered to step in with a post, which was great. Klaus and I have never actually met in real life, but he often shares very insightful comments. This post is based on one of his observations from a couple years ago that is relevant today. Thanks, … Continue reading What is Your Household’s Largest Budget Item?
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