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Barry was a student in my personal finance class at the University of Nebraska-Lincoln. He was less than enthused about college, it appeared. He showed up for class every day, but usually fell asleep sometime during the first half hour. Finally, I asked him to stick around after class to see if I could help...

Statistically, most middle-income individuals trade cars about every three or four years, on average. And cars can be a great expense. Sure, it’s fun to have a new car, and it’s also fun to have a great car! But it’s really expensive, especially if you haven’t started building your net worth (see my previous post...

There’s nothing better than the feeling of having the wind at your back. Imagine how a tailwind makes a brisk walk, running, or biking so much easier! For certain, it’s better than having stiff headwinds! The same is true in your financial life. Getting the financial wind at your back as soon as possible makes...

Students from the university class I teach and readers of my books and previous posts know the story of the Bookkeeper and the Surgeon. The thrifty Bookkeeper accumulates a significant sum and lives a comfortable life, while the highly paid Surgeon is short financially at retirement. The Surgeon is a really terrific professional. He’s high-earning,...

This story is an example of the value of investing before age 30. I don’t know a couple named Lucie and Charles (they, of course, lived during the French Revolution), but the math behind the numbers is reasonable and could represent the accumulation potential of a savings and investment plan today: Lucie is an industrious...