Category: Personal Finance
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How to get rich, the lessons behind Netflix’s new hit show
AJ and I were chatting the other day when we realized that both of us are currently watching Netflix’s ‘How to Get Rich‘ with our spouses. This hot new show, hosted by Ramit Sethi, follows the path of six individuals/couples as they struggle with bad (mostly) financial habits in their quest to get rich. There’sRead…
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Pay off mortgage vs. investing; which will make you rich?
This is a question we see posted all the time, and honestly, it seems like people are more divided on this issue than they are politics (so much so that Dave Ramsey even has a calculator to convince you!). Today, we plan on ending the mortgage vs. investing debate once and for all. AJ hasRead…
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Saving money isn’t enough, you have to invest it!
Recently, AJ came across a TikTok video where a woman was explaining this in depth. In essence, investing is a 2-step process. Without the second step, you might as well stash the money under the good ole sleep number mattress. Either way, make sure you’re not just saving, but INVESTING! Accounts you can invest inRead…
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Top 5 Money Mistakes to Avoid in 2023
A lot of my writing is aimed at what you should do when it comes to personal finance, rather than what you shouldn’t do. Well, today I’m going to give you the top 5 money mistakes that will inevitably be made by millions of people in 2023. You don’t want to miss this! Money MistakeRead…
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My 4 personal finance tips of the week
It has been a busy week, and over the past several days I’ve had several reminders of how many different ways there are for consumers to get fleeced. As expected, I thought it would be a good idea to share some personal finance tips that will hopefully increase our readers financial acuity. Personal Finance TipRead…
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Save big in 2023 by shopping insurance companies
While AJ Sheff is helping you avoid Indexed Universal Life Insurance (IUL), I can help save you money by shopping for better home, auto, and umbrella insurance. It’s insurance week at Wealthy Idiots! Gather quotes annually It’s 2023, and car insurance rates have sky-rocketed. Heck, pretty much everything has sky-rocketed since the start of 2021.Read…
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Asset Allocation: don’t miss out on the investing fundamentals
An often overlooked financial principle is that of asset allocation or ‘AA’ as it’s commonly referred. No, it’s not the same as alcoholics anonymous. Although, if you ignore your AA for long enough you may be pushed to drink a little too much. If you’ve already bolstered your savings rate, you’ll certainly want to readRead…