Category: Behavioral Economics
Stumbling Toward Financial Independence: The Story of Mr. and Mrs. Groovy
Mrs. Groovy and I have been blogging for six months now. Hurray! And we realized that we never told our story of how we stumbled our way toward financial independence and how we decided to blog about it. So in honor of our six-month milestone, here is our story. Mrs. Groovy and I met in…
Financial Advice to Young People: Don’t Be DICKs
The best advice I can give young people is twofold. First, spend less than you earn. Second, systematically invest your savings for however long it takes you to accumulate twenty-five times your annual expenses. There you go, young people. In two simple sentences, I provided the secrets to getting rich. Now go freakin’ do it.…
4 Really Stupid Attempts at Frugality
I often make fun of myself about the lengths I will go to be frugal. I tell myself, “I wasn’t always like this!” But then I’ll remember an incident from long ago and the inner dialogue pipes in, “Hello-o-o, yes you were!” I must admit I’ve had some really asinine ideas to save money. Here…
The Housing Downsize Challenge
To paraphrase the immortal Chico Escuela, “Housing has been berry, berry good to me.” In 2006, at the height of the real estate boom, Mrs. Groovy and I sold our one-bedroom, one-bath condo on Long Island for $340K. Since I bought that condo eight years earlier for $70K, and since Mrs. Groovy and I didn’t…
The Groovy Investing Process (Don’t Chase Results!)
I’m a big fan of Barry Ritholtz. For those of you who are unfamiliar with him, he’s the Chief Investment Officer of an asset management firm he founded and a frequent contributor to Bloomberg View and the Washington Post. He also has a blog called, The Big Picture. In his most recent WaPo contribution, he discusses the difference…