Being wealthy doesn't mean having all the money in the world, just not having to worry about it.

Seven Steps to Financial Peace of Mind

Before addressing specialized areas, I’d like to offer my thoughts on basic financial advice for do-it-yourselfers: Spend less than you earn Be an owner, not a loaner Commit to your service Locate yourself Adopt pay-as-you-go Protect against major threats Focus on relationships 1. Spend less than you earn. You want your life to point up rather Read more »

I’m Back!

Happy Reboot Day! For the past year-plus I’ve had to put the website on hold while I focused on various professional and personal matters, the most important being the final illness and passing of my beloved wife of 30 years. I’m doing great, thanks, and Diane said she’ll kill me if I keep using her Read more »

How Would Less’s Retirement Approach Have Worked from 1966-1982?

Question: Been loving your site since the “old days” when you had the message board, etc…. I’ve never read your “take” on that tired canard of the sideways US stock market of 1966 to 1982…. I know dividends were greater, no international funds, no gold funds, etc., and the most positive data I have seen Read more »

Lesson 27: Deciding Whether to Get Long-Term-Care Insurance

Ironically, while many people allow their lives to be exposed to the risk of an income-destroying disability, they are far more aware of a far less useful protection, long-term-care (LTC) insurance. It isn’t that the need for LTC is less likely than long-term disability. Almost by definition, the former is much more likely, since anyone Read more »

Lesson 26 – Disability Income Protection

Now that tax season is over, I have a little more time to blog. A new lesson is overdue: my last one on life insurance was a cakewalk compared to disability income protection. It’s not because it is difficult to determine whether or not you need disability income protection: if you aren’t yet financially independent, Read more »

Choosing between 529 Plan Contributions and Municipal Bonds

Question: We’re hoping to get your advice on an investment we’re considering outside of our retirement accounts. I’ll try to keep this brief. My wife and I have paid off the mortgage on our primary residence, and the only debt we have is a rental home that we plan to sell eventually (it currently covers Read more »

Is This a Reasonable Allocation for a Working-Age Investor?

Question: I’m considering changing our retirement portfolio allocations as indicated below. Would you mind commenting on this? Nearly all is in tax sheltered retirement accounts and we probably will begin easing into retirement in 12 years at age 60. I read your blog and think it makes sense for us to maintain separate asset classes Read more »

Why Pay an Adviser a Quarterly Fee Just to Invest in Index Funds?

Question: As an investor, I have always tried to invest in very low-cost index funds, since costs are one of the few things in my control other than the asset mix. Paying a percentage of my assets every quarter for management (even very good management) somehow feels “wrong” to me. What am I missing? Answer: Read more »