Tag Archives: personal finance

The Singularity is Near. How About Your Retirement?

My interest in artificial intelligence and its potential applications in investing and personal finance led me to people like Ray Kurzweil and the notion of a Technological Singularity.

Image courtesy Steve Fareham

At its most basic level, the definition of the Singularity is the point when machine intelligence reaches — and then quickly surpasses — human level intelligence. The Singularity also promises, at the least, to bring longevity (if not immortality), radical abundance, space travel, and more.

One of the research questions we’ve looked at is how can AI help individual investors.

Michael Nuschke, who blogs at Retirement Singularity, has been exploring a similar question on how the pending Singularity will change our retirement planning. Certainly, things like longevity and new production technology (like 3D printing technologies) will change both our careers and our retirement planning.

I brought Michael in for a conversation about the Singularity and retirement.

How is technological change affecting retirement investing and financial planning?

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What, Me Worry? What the New Generation Learned From the Recession


I read an article recently that the new generation is actually worried about money.

This group — who are now aged 13 to 20, or thereabouts — are worried about earning and spending money, which is a far cry from the previous generations.

According to the article:

“When asked about specific topics, 39% of Gen Z said they are concerned about affording college and having student loans, though the top concern was having their identity stolen, indicated by 40% of Gen Z respondents.”

As far as savings goes, there’s mixed results. Credit card habits are still problematic. In fact, I’m a little weirded out that kids have credit cards, but, in any event:

The most concerning survey results were Gen Z’s credit card habits, Braxdale says. While Gen Z kids are good savers — more than half have a savings account and 76% say it’s important to save money at this stage in their life — there isn’t the “same diligence” when it comes to credit cards, she says.

A little more than a quarter of Gen Z indicated having a credit card, but more than half of those carry a balance on the card for at least six months.

My question is: Should you worry about your finances?

I don’t think worry–which is predicting negative outcomes–is the right word for this headline. It seems that Generation Z is planning their financial future using some of the lessons of the past decade. Hopefully, they will learn to balance both the positive and negative outcomes of their financial decisions to arrive a the right strategies for their financial independence.


The Number One Most Incredible Money Secret That You Need to Know Today


Make sure there’s no one reading this over your shoulder. Is the coast clear? Cool.

So, here’s the number one most incredible money secret: there are no secrets.

People are continually using The Secret this, or The Secret that to make their information appear occult or specialized. Bloggers are notorious.

Hey, guilty as charged. Here’s my Money Secrets post. And the Financial Secrets of an Abundant Mind.

The thing is, these are open personal financial secrets. There’s nothing secret about handling your money astutely. It goes a little like this.

Save regularly.

Spend smartly.

Invest intelligently.

Those aren’t really what I consider secrets. They’re obvious. They’re the subjects of millions of books, articles, posts, and bull sessions.

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Weekly Wisdom: Endless Personal Finance Advice Summer

Summer is heading into the home stretch.

We’re going to keep the temperatures high here, though. Here are some great links on personal finance and self-improvement.

One of the struggles most investors face is taming their emotions. Free From Broke offers dollar cost averaging as one remedy to emotional investing.

Simple Trading System caught this: BP is selling assets to Apache.

It’s kind of like a McMansion for a hobbit. Man finds contentment in an 89 square foot house, courtesy of Faithful with a Few.

This could be a demographic time bomb. Finance Samurai points out that there are now more senior workers than teen workers.

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Weekly Wisdom: Happy Financial Independence Day

Pic from Flickr Creative Commons

It’s Independence Day.

We might think that the Declaration of Independence was signed because of tea and stamps, but, at the core of the fight was the desire to be economically free.

That’s a fight that continues everyday.

Here are a few posts that can help you stage your own personal financial independence day.

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Weekly Wisdom: Steering Your Personal Financial Decisions in Interesting Times

pic by mckaysavage @Flickr

May you live in interesting times.
–Chinese curse

We do live in interesting times, perhaps the most interesting times in the history of civilization.

That can be good.

And that can be bad.

We seem to be caught up in the eddies of a great transition. These economic, social, and technological forces can toss an individual around. It’s in these interesting times that we are fortunate to have some interesting voices who will help us steer our personal financial ships by offering us advice and issuing us warnings.

In this edition of Weekly Wisdom, we’ll review some of the best posts and articles on personal finance and improvement.

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Weekly Wisdom: The Most Important Financial Questions

Pic by walknboston @ Flickr

Answers don’t matter.

That seems to be heresy. But hear me out.

The fact is, unless you know the right questions to ask, answers don’t really help you. Knowing what’s wrong and then applying the right solution is the key to problem solving.

Personal finance is no difference.

In this edition, we”ll let some of the best and brightest minds of the blogosphere ask the most important questions.

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What Will You Do With The Other 8 Hours

I want to thank Financial Samurai for a heads-up on the book, “The Other 8 Hours.”

I picked it up after checking out Samurai’s post. (I never win those dang give-aways!)

The Other 8 Hours was written by Robert Pagliarini. He also wrote The Six-Day Financial Makeover.  Maybe you caught him on the Dr. Phil Show. I didn’t because I think Dr. Phil is a sham, but maybe you did.

Pagliarini’s philosophy on personal finance is a lot like one of my other favorite writers, Timothy Ferriss, who’s The 4-Hour Work-week is a classic. I’m just digging into the book, so I might be off, but I think one difference is this book’s personal financial freedom advice is more targeted to folks who are already embroiled in the 40-hour slog.

The premise is simple. You work eight hours, you sleep eight hours (ha!) and you have eight hours a day that can be spent on projects dedicated to financial freedom. Pagliarini mentions ten ways–or channels–that can help you turn those hours into serious steps toward wealth and purpose.

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Weekly Wisdom: The Best Personal Finance ‘How-to’s’

Personal finance looks simple: save money, invest it, repeat.

But we all know there’s more to it. There are thousands of ways to save money. There are thousands of ways to invest money. Not all of them are simple, not all of them are as effective as others.

That’s why I’m glad I have access to some of the brightest money minds in the world. This week, I spent some time noting the how-to, tutorials, and other advice posts on the web. Here’s the best of the best.


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Weekly Wisdom: The Contrarian Personal Finance Edition

The one thing I learned in the world of personal finance is that things aren’t often as they seem. Sure-fired strategies turn into half-baked schemes and bad ideas turn into revelations and revolutions.

Often, these strategies are counter-intuitive. Other times they’re so simple you wonder why you didn’t think about that first.

You have to keep an open mind and take care not to cloud your judgment.

This week, I’d like to pass on some posts that made me think. In a lot of cases, they made me think that I was wrong about personal finance issues, or, at least did not explore the issues deeply.

Here are a few of the best:

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