Category: Saving

More vs. Enough: The Principle of Financial Finish Lines

“Wealth is like seawater: the more you drink, the thirstier you become.”  – Arthur Schopenhauer, German philosopher John D. Rockefeller, widely considered to be the richest person in history, when asked how much more he needed to earn until he had enough famously replied, “Just a little bit more.”  Author Mitch Anthony reports, “A friend…

The Handful of Pennies Savings Plan

  “‘Save’ – the sum of all financial planning wisdom in one word.”  – Phil DeMuth In a recent survey the Federal Reserve board asked Americans how they would pay for a $400 emergency.  47% responded that they would either have to borrow the money, sell something, or they didn’t know what they would do. …

Back to the Future: Money and Time Travel

“The essence of finance is time travel. Saving is about moving resources from the present into the future. Financing is about moving resources from the future into the present.” – Matt Levine, Financial Journalist   One of my favorite movies is Back to the Future. The movie is about Marty McFly (Michael J. Fox), an average American…