According to Fidelity, one of the largest 401k providers in the world with over 12 million accounts, the average 401k balance is now around $120,000 as of 2Q2021. Among employees participating in a 401k for at least 10 years, the average balance hit $251,600, up 12% from a year ago. Separately, Vanguard reported that the […]
The Average 401k Balance And Why It’s Too Low Read More »
Who needs a job when you have a private school degree? If you are rich enough to attend private school, then you may be so rich you don’t really have to work for a living. That, or you can just work for your parents. Pick any private school. The cost is about $220,000 in tuition
Who Needs A Job When You Have A Private School Degree Read More »
When you book a hotel reservation the representative will ask for single, double, or multiple occupancy and charge accordingly. It’s the same idea when you rent out your property to prospective tenants. Those who plan to rent your property are written in the lease predominantly for legal purposes. Those who plan to stay in your
How To Prevent Tenants From Abusing The Lease With Multiple Long Term Guests Read More »
In the past, I used to be perturbed by how long it took to refinance a mortgage. The whole process almost got derailed on its 97th day due to a bad credit report unbeknownst to me. Luckily, the refinance eventually went through. I want to share the upside to a long drawn out mortgage refinance. What used
The Upside To A Long Drawn Out Mortgage Refinance Read More »
The more productive you are, generally, the richer and happier you will be. Let’s discuss how we can all improve productivity quite easily with an extra seven hours a week. I’ve been a little more active on Twitter recently and I noticed something quite interesting. Starting at around 10pm PST, the chatter goes silent. I tend
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The best money market rate I’ve found online depends on timing. If you want to get better rates and higher services from banks, you need to develop a relationship and concentrate your assets. Weeks before Lehman Brothers went bust on September 15, 2008, I decided to spread my savings out to various banks to hedge
How To Get Better Rates And Higher Service From Banks Read More »
I almost bought a Bentley Continental. Let me share how I almost wasted six figures on a car I didn’t need. After going down to City Hall to get my reconveyance letter (proof of ownership) for a property I paid off in 2015, I decided to pop into the Range Rover dealer several blocks away for
The Time I Almost Bought A Bentley: The Crazy Ways We Justify Our Spending Read More »
The rich tend to always get ahead, no matter the economic environment. Even during a global pandemic, the rich have gotten richer. This article will discuss why the rich should pay higher rents. No matter how hard I try, it’s impossible to convince everybody to adopt the Stealth Wealth mantra. Rich people should never share how
Why The Rich Should Pay Higher Rents: An Airbnb Employee Explains Read More »
Every now and again, I stumble across something that makes me wonder, “Are you a financial dumb ass?” Someone forwarded me a post from a year ago where a PF blogger spent $60,000 on a luxury car right after revealing his net worth was only $55,000! He clearly violated my 1/10th rule for car buying everyone
Are You A Financial Dumb Ass? Be Honest With Yourself To Get Rich Read More »
Years ago, I once knew someone who was unhappy with her husband. Let’s call her Nancy. To fill her void, Nancy went on dates with various men while her husband stayed late at work. At the cafeteria one day, Nancy mentioned she was falling in love with one of her men named Jack. Jack was handsome, single, charming, and
Why Tough Love Is Important When It Comes To Your Finances Read More »
