Category: Behavioral Economics
What Goody Are You Willing to Give Up?
Ask not what your country can do for you—ask what you can do for your country. —John F. Kennedy In twenty-one years of government employment, I contributed less than $10,000 to my pension. Starting last October, I began collecting that pension. Twenty thousand smackeroonies a year until Mrs. Groovy dies (Mrs. G decided she’s exiting…
Crap! Jacob Over at Early Retirement Extreme Stole My Thunder
Oh, crap! I went to Rockstar Finance the other day and saw a featured post called, “Man Saves Thousands of Dollars Just By Thinking.” The post was written by Jacob over at Early Retirement Extreme, and it’s a gem. Here, for example, is an excerpt from one of his post’s fledgling thinkers describing how transformative…
Paul McCartney Wrote Some Crappy Music: More Trash-Talking from Mr. Groovy
Someone’s knockin’ at the door Somebody’s ringin’ the bell Someone’s knockin’ at the door Somebody’s ringin’ the bell Do me a favor Open the door and let ’em in For the Millennials out there, these are the opening lyrics to a song written by Paul McCartney called Let ’em In. Mrs. Groovy and I heard…
There Is No Excuse for Being a Financial Moron
Prior to my fortieth birthday (I’m 55 now), I was a financial moron. I wasn’t good at making money, and I wasn’t good at saving money. My financial IQ was appalling. Rudimentary financial concepts such as “pay yourself first,” “build an emergency fund,” “automate your savings,” and “invest in low-cost index funds” were utterly alien.…
Nine Things Not To Do When Your Financial Margin Of Error Is Razor Thin
I’ll never forget this one particular revelation I had in college on a particular Saturday night. I was in a bar, but I wasn’t drunk. And everyone was going nuts. And I remember peering at the alcohol-fueled frenzy unfolding before me and asking, “Where are all the Asian college kids?” After all, Buffalo University was…