Few Minute Finance

07/15/2021

Some reflections as we wrap up a year’s worth of columns with the Enumclaw Courier-Herald newspaper. What’s your “why” for getting your finances in order? The tools to do so have never been more accessible, easy, or free than right now.

Take responsibility, don’t stop learning, and remember: The goal is not worrying about the money

06/07/2021

Success in personal money management is very much related to how well we manage our time, our events, and other priorities and to-do’s. Check out our latest article in the Courier-Herald on money, time, productivity, and the importance of having a simple system to get it all done.

Making a to-do list and keeping up on a calendar really helped me put my life together.

05/10/2021

I once again had the privilege of joining Keegan Harris of Wise Wealth Builder for another podcast episode: we discuss the popular 50/30/20 Rule, why creating a monthly budget is likely the most critical aspect of personal finance, and other ways to win. Check it out!

Pay off your debt, grow your investments, and take meaningful steps to becoming a wealth builder.

05/09/2021

Read. This. Article.
In the age of Dogecoin and GameStop, very few folks understand how the stock market really works, especially over time. This author nails it:

“Year-to-year, the S&P 500 can fluctuate wildly, from gains one year to losses the next. With time, that choppiness evens out — and the chance of losing money over longer stretches diminishes...If none of this is new, then why do so many well-intentioned investors continue to lose money in the stock market? The answer often boils down to a lack of patience.”

It's simple to make money in the stock market. That doesn't mean it's easy.

05/06/2021

Hot off the Courier-Herald press today! We discuss high-deductible health insurance plans, why you should give them some serious consideration, and some awesome life hacks for your HSA (health savings account), if you have one.

You may pay more money upfront for healthcare costs, but the long-term savings can be immense.

04/19/2021

There's a lot of noise in the investing world currently, and many people have a "fear of missing out" (FOMO). One of our favorite authors, Bill Schultheis, addresses that here.

Are you stricken with the dreaded disease called FOMO?  This is a common affliction of many investors, who have a “Fear Of Missing Out” on companies and trends that are unfolding in the financial media at the moment.  You know them as well as I do; blockchain and bitcoin, SPACs, artificial Int...

04/08/2021

Recently had the privilege of speaking with Keegan Harris of Wise Wealth Builder (wisewealthbuilder.com) on his podcast. We cover specific ways to win financially, life experiences, mistakes made, and more. Give it a listen here!

‎Show Wise Wealth Builder, Ep Luke Miller - Commercial Pilot and Wealth Builder - Jan 16, 2021

04/07/2021

Is college a necessity in 2021? How do you pay for it? Common sense prevails in the latest column, hot off the Enumclaw press today.

Is college worth going into debt over? The short answer is no.

03/15/2021

Part of nailing your financial goals is having the properly-sized income to do so. And in today's world, hiring for your target career field can be extremely competitive. If you ever plan to apply/interview anywhere again, give this Dave Ramsey episode 9 minutes of your time!

‎Show Ramsey Call of the Day, Ep How Do I Make Myself Stand Out From Other Job Applicants? - Mar 10, 2021

03/03/2021

Taxes 101 just published. 🔍💵

Welcome to Taxes 101.

03/01/2021

Completed our 2020 taxes last night. Have officially concluded operating a 737 is more straightforward than US tax law. 😂
Watch for a new article on taxes coming out in the next several days.

02/17/2021

How long does it take for invested money to double in value? Less time than you think: enter the Rule of 72. 🕰💵

Properly-invested money should take about 7-10 years to double. Money in a bank savings account could take over 300 YEARS to double. That’s the power of wise investing. Check it out below.

It’s easy math: [72] divided by [percent return your money will earn per year] = approximately how many years it takes your money to double.

EXAMPLE 1: You invest $3,000 in a low-cost index mutual fund mirroring performance of the S&P 500 stock index, earning 7.2% return per year. 72 divided by 7.2 = 10 years. In 10 years, your $3,000 grows to $6,000 without you doing anything but watching. Assuming the same rate of return, 10 years later, your $6,000 has become $12,000, and so forth. (The S&P 500 has returned an average of 10.2% since the index was established in 1926.)

EXAMPLE 2: You stick $3,000 into a savings account at the bank you’ve used for years, who pays 0.2% interest. 72 divided by 0.2 = 360 years. At that rate, it would take you 360 years to turn your $3,000 into $6,000.

This doesn’t account for regular contributions to your investments, which can cause them to double in value even faster, and then some. It’s staggering. Get with a professional who can help you invest, seek advice, don’t invest in anything you don’t understand, and start now.