Family Finances

How To Develop A Better Personality To Get Into An Elite University

51 Comments / Education, Family Finances, Relationships / By

Want to get into an elite university? Develop a better personality so you can receive a higher personality score during the admissions process. In the Supreme Court case regarding using race-conscious admissions (affirmative action) at Harvard University and UNC, we learn Harvard assigns a personality score to every applicant. By assigning a lower personality score …

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Where Are All The Adult Athletes? Sports And Your Career

39 Comments / Career & Employment, Family Finances, Health & Fitness / By

For over 20 years, I’ve been a tennis club member. Player levels range from beginner to ex-professionals. Everybody gets along and rallies around a sport they enjoy, no matter their level of wealth. But I just realized something odd. And the realization wouldn’t have come had I not become a father. After three years of …

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When To Play The Status Game Again: Money, Fame, And Impact

48 Comments / Family Finances, Relationships / By

Since 2012, I have tried hard to stop playing the status game. After all, leaving my job in banking meant losing status at age 34 when folks are usually coming into their own. After my career was over, I turned down multiple TV show appearances, podcast interviews, and speaking gigs. To be able to just …

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Conduct A Regret Minimization Exercise To Help You Move Forward

32 Comments / Career & Employment, Entrepreneurship, Family Finances, Investments, Motivation / By

One of the main reasons why I wrote Buy This, Not That was to help readers feel less regret by making wiser choices. Regret is one of the worst feelings, especially if it is a type of regret that could have been prevented through knowledge. The easiest way to stop saying, “If I knew then …

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Overcoming The Trough Of Sorrow: Defeating An Emptiness Inside

50 Comments / Entrepreneurship, Family Finances, Motivation / By

Here in the San Francisco tech startup scene, we have a term called “the trough of sorrow.” The trough of sorrow refers to the sadness that comes after a setback or a big win. After a setback, you’re tasked with finding product-market fit to survive given your company has a limited runway of cash. You …

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Vacation Property Comparison: Single-Family Mansion Vs. Resort Condo

33 Comments / Family Finances, Real Estate / By

If you’re in the market for a vacation property you will likely have to decide between purchasing a single-family home or a condo. However, what if you have enough money to buy a single-family mansion for $10+ million versus a condo at a luxury resort for $500,000+? I used to think a single-family mansion for …

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How To Get Life Insurance For Free: Make More Money

17 Comments / Family Finances, Insurance / By

Have you ever wondered how you can get life insurance for free? I’m not talking about getting free life insurance from work. The life insurance amount usually isn’t enough. I’m talking about how to get free life insurance outside of work. My wife and I have life insurance because with have two young children, a …

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The Unexpected Financial Benefits Of Having Children

32 Comments / Family Finances / By

One of the main reasons why people delay having children is its cost. Rising prices for daycare, preschool tuition, and shelter plus the opportunity cost of not working, partially explains why our population replacement rate is declining.  The cost of raising children worried me so much that I actually had a $1 million net worth …

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The Age Children Begin Loving Their Fathers As Much As Their Mothers

6 Comments / Family Finances / By

Are you a stay-at-home father or father who spends a lot of time with his children? If so, you may be second-guessing your decision to spend so much time with them during their early years. Without some reciprocating love, you might be wondering whether your effort is worth it. You see, the more time and …

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Lending Money To Friends And Family: How To Determine When It’s OK

17 Comments / Debt, Family Finances / By

One of my tennis buddies told me a funny story about borrowing money from his parents. He was 28 at the time and asked for a $30,000 loan to buy a condominium. Since his parents had the spare cash and weren’t making much from interest, they figured lending money to him was a win-win situation. …

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