Several months ago I wrote about the Secret Millionaires Club, a website that teaches kids about how to start a business and how to handle money. Warren Buffett helped create the site and his character, actually voiced by Buffett, stars in the animated videos on the site. It is a great resource for teaching kids…
The Hindu holy man Swami Gnanmuni is the administrator of the magnificent Swaminarayan Akshardham temple in New Delhi, India. As such, he has taken a vow of absolute poverty. His material possessions consist solely of two robes, some prayer beads, and a wooden bowl. Gnanmuni took a rather unconventional path to reach this position.…
I recently wrote about “The Four Laws of Success and Probability.” The third law states, “If…the odds are not in your favor, avoid the game – if it is impossible to avoid the game, play with great caution.” Insurance is a game where the odds are never in your favor. The expected value of any…
I recently wrote about how life is a game of probability, not luck. Money, like life, is also a game of probability. While there is nothing you can do to guarantee financial success, you can do things that will greatly increase your chances. Before getting into the strategies that will swing the odds in your…
After you get your own finances in order, teaching your children basic financial skills is one of the most important things you can do. I agree with Andrew Tobias, who stated the following in his book The Only Investment Guide You’ll Ever Need: “I’m keenly aware that they are your kids, not mine, so I…
Of course I believe in luck. How otherwise to explain the success of those you dislike? – Jean Cocteau, French writer and artist The most important questions of life are, for the most part, really only problems of probability. – Pierre-Simon Maquis de Laplace, French mathematician & pioneer in the field of statistics Meeting Phil…
My youngest child, Savannah, graduated from high school last week, and I found out recently that my oldest daughter, Kelsey, is expecting our first grandchild. One chapter of my life is ending and another just beginning. These events have prompted me to reminisce about when my children were small. As they were growing up one…
Here are links to my top 10 posts for 2014. If you are a regular reader, thanks for your support and I hope I was able to help you improve your personal financial situation in 2014. If you are not a regular reader, take a look at what you missed and join us for 2015. There…
My father, Kent Esplin, was an entrepreneur. The word wasn’t much in style in his day, and I never heard him refer to himself as an entrepreneur, or even say the word. Nevertheless, my father was an entrepreneur. He grew up in Southern Utah during the Great Depression. His family lost their sheep ranch near…
Men do not desire to be rich, only to be richer than other men. – John Stuart Mills (1806-1873) There is a great old Jewish folktale in Rabbi Harold Kushner’s book When Bad Things Happen to Good People. The story is about two competing shopkeepers in a small town. Their shops were right across the street…
