13 12, 2018

Who are HENRYs?

By |2018-12-13T11:36:23+00:00December 13th, 2018|Random|0 Comments

I heard a term for the first time the other day, that I had never heard before and I found interesting.  Most people have heard the term, DINKs (dual income no kids), but I think HENRYs is a bit less popular. What Does HENRYs Stand For? When it comes to personal finance HENRYs is a an acronym that stands for: High Earners Not Rich Yet Apparently, and despite my unawareness of the term, the HENRYs acronym has been around for a while, The term HENRYs was coined in a 2003 Fortune Magazine article to refer to a segment of families earning between $250,000 [...]

4 12, 2018

Net Worth Update December 2018

By |2018-12-04T10:43:48+00:00December 4th, 2018|Personal Situation|0 Comments

I first started tracking my net worth and then sharing my gains and loses way back in January 2013.  I absolutely regret not starting earlier, especially when this site was started a few years prior! I believe that every adult would benefit from seeing how their short term personal finance decisions are playing out over the course of a month, months or years, and the easiest way to do that is with a net worth statement. Thoughts before calculating: I usually have a feeling of how my net worth has performed for the prior month.  Usually it is based on market performance [...]

29 11, 2018

5 Things to Consider Before Resorting to Bankruptcy

By |2018-11-29T09:17:17+00:00November 29th, 2018|Debt|1 Comment

No one wants to file for bankruptcy. Yet, there were almost 800,000 total bankruptcy filings in 2016 alone—the vast majority of them by individuals. Even though this process is fairly normalized, it’s not something that you should take lightly. Here are five things you should consider before resorting to bankruptcy. Do You Understand What Bankruptcy Means? There are two main types of bankruptcy for individuals: Chapter 7 and Chapter 13. These two types of filings work a bit differently: Chapter 7 bankruptcy is the most common form of bankruptcy. In this situation, a person’s non-exempt assets are liquidated for cash in order [...]

23 11, 2018

Do You Know What Your REAL Risk Tolerance Is?

By |2018-11-23T16:09:53+00:00November 23rd, 2018|Investments|0 Comments

To say that the markets of the past 2 months have been rough would be an understatement.  In fact it is so much of an "understatement" that I have mentioned it as such for 2 net worth updates in a row, and probably will continue to do so for the upcoming months to come! I know personally my net worth is down tens of thousands of dollars based solely on the winds of the market.  I am very correlated to the market and it has recently made me think about the old saying from Mike Tyson: What is your REAL Risk Tolerance? Investopedia has a [...]

21 11, 2018

Is a College Savings Plan Worth It?

By |2018-11-21T08:49:41+00:00November 21st, 2018|Personal Finance|0 Comments

A 529 plan is a tax-advantaged college savings plan designed to encourage saving for future education costs. These plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.The question most people have is, are college savings plans worth it? Benefits of a 529 Plan The reasons many families choose to invest in college funds for their education savings is because of its benefits. The first one is basically that this investment tool was literally made for the purpose of saving for education and for children. [...]