As I work with people one-on-one as a high-performance coach, I have found that the most important aspect to their wealth accumulation, is their habits. Good habits create good results, and bad habits create bad results. The good news is, habits are learned. You were not born with any of your habits; you learned them somewhere along the way. That means you can unlearn your bad habits and learn some new ...

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When my children each finished Montessori school, my wife and I researched a bit before choosing the local public option.  My area has extraordinary private schools.  Although high cost, many of these alternatives provide unique and worthwhile twists on traditional education.  We talked extensively with the kids, and after much research, we came to the budgetary friendly decision.  The public school, with somewhat fewer bells and whistles, provided an education on ...

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We all know that life is unpredictable. In fact, the only thing that’s certain is that things will be uncertain. Despite this, or perhaps because of it, I think the majority of people are risk-averse. We’re concerned about future and its potential for unfortunate circumstances. If we weren’t, there would be no such thing as insurance–and there’s insurance for just about everything. While it’s important to think optimistically, knowing you have ...

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The telephone rang. Why would he be calling? Must be a misdial, I figured. I  hadn’t worked with him in several years, and we were never known to make social calls back when we did work together. That call was no mistake. What he had to say made me simultaneously queasy, fearful, and angry. It felt like the first couple loops on a rollercoaster ride I didn’t sign up for. I ...

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We can control most of the variables that will affect our financial futures. We can control our income by choosing to work more hours or in a less desirable location. We can control our spending by buying a smaller house or a less nice car. However, one thing that we cannot fully control is our investment returns. And the problem is that our investment returns can ...

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Brian Canes sent me a question via Twitter, and I couldn’t quite answer it in 140 characters, so I decided to do a blog post about it since I thought it illustrated some important points. His question was: "How do you calculate a % funded for a 529 account given an account balance and projected college tuition assuming no future contributions?" In essence, Brian is asking “Am I done saving for college?” ...

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I am the one obsessed about finances in our house. Updating our monthly net worth spreadsheet and ensuring we are not paying mindless monthly fees for things we don’t use (i.e., magazines, Netflix, etc.). I allocate our investment portfolios and ensure that we have paid into our IRAs and 529s annually. It is not that my wife is not interested, it is more that I am very interested. So why would ...

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As a personal finance coach, I have learned that the most important aspect to wealth accumulation is having good money habits. Good habits create good results, and good results are what everyone wants. We were not born with any of our habits; we learned them somewhere along the way. That’s good news, because that means we can easily learn new habits. After all, we didn’t have any trouble learning the habits ...

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I truly believe that the business asset class is important in supercharging the race to financial independence.  While many dream of starting their own Google or Amazon, I find myself much more interested in the small, less scalable business.  The kind that spins off some revenue, builds experience and know how, and is fun. Although I have owned multiple small businesses (mostly medical practices and real estate), the one that I ...

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I am so excited to write this post. It’s been a long time coming, but in fact, it’s come years sooner than I had even dared to hope. Now, I can finally say that I am truly financially free from medicine and I wholeheartedly believe that anyone can achieve this. Setting the scene First, a little background. My wife and I are both physicians, and we’re both about six years out of training. We’ve ...

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