Category: Behavioral Economics
Another Great Benefit of Financial Independence: Having a Large Margin of Error
If having money to pay for your needs and wants is the only measure of your well-being, the coronavirus pandemic currently roiling the world’s economy has done nothing to damage me and Mrs. Groovy. That’s the beauty of financial independence. Not being dependent on a job, business, or government check for your livelihood leaves you…
We “Lost” Roughly $60,000 Yesterday and We Just Shrugged
I knew yesterday was bad. So I logged onto my Fidelity account to see just how bad. Here’s a screenshot of the bloodletting. Ouch. Since our Vanguard account mirrors our Fidelity account in size, funds, and allocation, I’m assuming that our total “loss” for yesterday was right around $60,000. No one ever said investing was…
Golly Gee, Cars Are Expensive
Last June, Mrs. Groovy and I got a new-to-us car, a 2016 Honda CRV for $21,035.91. We christened our new Honda, “Penny,” and she came to us with 32,635 miles on her odometer. Now, because I run a personal finance blog, I decided to follow the prescribed maintenance schedule of the manufacturer to the tee.…
The Louie De Palma Presidency
Check out the below YouTube clip. It’s a classic clip from the sitcom Taxi and it should remind you of someone. Who does this remind you of? Does it remind you of the current White House occupant? It certainly reminds me of President Trump. Here’s Louie’s resounding defense of his stock-broker stint: What you call…
The Superpower of Appreciating Simple Joys
When Mrs. Groovy and I lived on Long Island, we would have dinner at the Valley Stream White Castle on Valentine’s Day. At first, we did our frugal Valentine’s Day out of necessity. For the first couple of years of our relationship, we were very mediocre at earning and managing money. But as our incomes…