When I worked on Wall Street, there would always be a large investment bank that had two strategists. One was bullish, and one was bearish. The idea was that the firm could always put one of their strategists in front of clients no matter what the market did. Competitors who did not deploy this strategy poked fun at the ridiculousness of the situation. But the reality is that … [Read more...]
How To Negotiate Like A Pro
If you want to know how to get the best deal possible and learn how to negotiate like a pro, remember this simple acronym: BATNA. Imagine yelling "BATNA!" in excitement as you bat a home run out of the park to help you remember the acronym. BATNA stands for Best Alternative To a Negotiated Agreement. I've used BATNA to save a couple hundred thousand dollars in the purchase … [Read more...]
What’s Wrong With Subsidizing People Who Don’t Want To Work?
Jeff Bezos' article in The Washington Post recently lit a firestorm discussing how two people were able to quit their jobs thanks to Obamacare. One of the first things I thought about when Obamacare passed was how awesome it will be for early retirees and folks who must work at miserable jobs just for the health care to be able to break free more easily. Thankfully, my … [Read more...]
The Secret To Never Being Frustrated, Disappointed, Or Offended Again
I've recently discovered the downside of caring. When you care about making something a success or helping someone get out of their rut, it becomes incredibly frustrating when they don't take your advice. After being ignored one too many times, I give up. I will happily go with whatever you say and my words now consistent of, "Yes sir!" "Yes ma'am!" "I'm happy to do whatever … [Read more...]
When Should I Buy Property? When You Can Afford It
Your return on rent is always -100% every month, forever. Some will say that rent is not an investment, but an expense, and they are absolutely right! Rent is never an investment because you will never get a return on it, no matter how hard you try. At the end of 10 years, your $2,000 a month rental "investment" will net you negative $240,000 in after tax dollars, which equates … [Read more...]