Become a Patron! A lot of financial planning and advice can start to seem pretty routine over time: maximize contributions to tax-advantaged savings vehicles, invest in a basket of diversified, low-cost assets, and periodically (but not too often!) rebalance. I'm always interested in identifying places where that kind of routine advice breaks down, and the other day, I … [Read more...] about Are there 529 plans so bad they aren’t worth their state’s income tax benefits?
Become a Patron! Even though this blog is committed to promoting entrepreneurship, I often say I don't think everyone should become an entrepreneur, for the fundamental reason that not everyone wants to become an entrepreneur. Plenty of people want to go to work, do their job as well as they can (or as badly as they can get away with), and get paid a predictable amount on a … [Read more...] about Why workers should fight for entrepreneurs and entrepreneurship, too
Become a Patron! Last week, the nonprofit journalism enterprise ProPublica wrote a breathless expose about a number of wealthy Illinois families, and their law firm collaborator, who were able to secure generous financial aid awards for their children to attend certain Illinois public universities. The article served as a brilliant kind of Rorschach test for how readers … [Read more...] about The wealthy Illinois degenerates were good and right for getting their kids a free education
Become a Patron! I've noticed an interesting phenomenon, which I call "common knowledge about common knowledge" (doesn't exactly roll off the tongue, I know). It's when some piece of conventional wisdom becomes so banal that someone decides to refute it, and then the refutation becomes as widely known as the original factoid, if not more so. To give an easy example, … [Read more...] about The Fidelity “dead accounts” study is fake, not wrong
Become a Patron! When ignorant people want to sound serious, they start solemnly intoning about the Social Security funding crisis and the need for a "long-term" "fix" to the "problem." This serves three useful purposes: it allows the speaker to change the subject from any actual problems existing today, it provides the superficial cover of concern for vulnerable … [Read more...] about What will the Social Security funding “crisis” look like?