Three ways you can value your time for money decisions
I don't know what happened to me at that hypnotherapist and, I don't know, maybe it was just shock and it's wearing off now, but when I saw that fat man keel over and die - Michael, we don't have a lot of time on this earth! --Office Space Every one ...

Understanding how taxes affect personal finance
I like to pay taxes. It is purchasing civilization--Oliver Wendell Holmes Taxes are a big consideration in many financial decisions, including retirement accounts, tax-advantaged investments like municipal bonds, and renting versus buying a house. These financial decisions are so important that knowing basic tax information is critical. Here are four traits ...

Understanding the time value of money
A bird in the hand is worth two in the bush--Miguel de Cervantes The time value of money is fundamental to money management. It is the key to understanding stocks, bonds, financing your loans, and making good business investments. It's the reason why lottery winners often take lump-sum payments at a ...

Lifestyle funds make little sense for people who want the best
Simplify, simplify--Henry David Thoreau The chef Alice Waters promotes an elegant cooking philosophy in her book Chez Panisse Vegetables: "Good food depends almost entirely on good ingredients...Never cook slavishly, rigidly following a recipe and thoughtlessly adhering to measurements it gives." She really has been successful following this philosophy. As one story goes, ...

Understanding your risk tolerance
"Fortune favors the bold"--Virgil Do you buy a new laptop for $1,000 or reconditioned one for $900? The reconditioned product is $100 cheaper, but presumably more likely to fail. Do the savings make it worth taking a chance? Situations like this, where decisions are made under uncertainty, warrant risk analysis. The ...