During my two-year round-the-world trip, Will and I spent hundreds of nights camping in Australia. We camped nonstop for about 7 months, or 210 consecutive nights. When we told friends that we were camping, they remarked, “Think of all the money you saved by not staying at a hotel!” Or not. We never would have…
Many people assume that if some health insurance is good, more health insurance is better. That’s not always true. Sometimes, having a little LESS coverage is the smarter move. To understand why, keep in mind that the purpose of health insurance is to safeguard you against risk. The purpose is NOT to pay your medical…
Money management can get really complicated — if you let it. People ask me all kinds of nuanced, nitty-gritty questions: “Should I invest in Company XYZ, given that their price-to-book ratio is not up to recommended standards?” “Which of these five developed-market small-cap value funds do you recommend?” “Should I pay an early-withdrawal penalty to…
Here’s the truth about houses: Unless you’re a landlord, your house will probably be the lousiest investment you ever make. The myth about home ownership is that it’s a great investment — a way to “build equity” rather than “throwing your money away on rent.” Hogwash. Here’s the truth: When you rent, you pay one…