03.31.08
Posted in Finance at 1:08 PM by Jeff
One reason that I enjoy technology is because it shares a common goal with me. That goal is to make life easier.
If a new technology is going to stick around and receive wide spread adoption it has to make life easier (or at least more interesting) for its user. For example, computers allow their users to do many things much faster than was originally possible. Sure there are some tech gadgets that are nothing more than a cool item to own, but they are only around until the next cool gadget arrives. An example of this is the calculator watch.
It is an ongoing goal of my own to make my life simpler. That means that if I think I can automate a task, make a task more efficient, or avoid doing a task all together I always give it a try. After all, I would much rather spend my life doing things that are enjoyable and exciting than the routine and tedious tasks.
In the next couple months, I intend to look into using technology to facilitate other aspects of my life. Of particular interest to me is whether or not a paperless personal finance system is feasible.
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03.24.08
Posted in Finance at 9:42 AM by Jeff
In a drastic move, I almost decided to cut my discretionary spending to zero for the next month. I don’t really need to cut my spending, but my rate of saving for my first house has been slowing recently. Maybe I can do something less drastic to kick the savings back into high gear.
Starting now, I will limit my discretionary spending to $300 per month. This includes things like: eating out, entertainment (movies, CDs, books, etc.), and other things that are not a necessity. However, this does not include things like: groceries, gasoline, bills, etc.
Wish me luck!
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01.14.08
Posted in Finance at 2:05 PM by Jeff
Even though the Christmas season has passed, the giving does not have to end. It seems like a good time to recap on 2007 and see what I have done for others. What difference did I make in the lives of others last year? To start that off, I found myself recounting the donations that I have made.
My giving for the year 2007 includes: tithing, a donation to Campus Crusade for Christ, donating my excess computer power to Folding@Home to do medical research, and donating my old clothes and belongings to various charities. By making these donations I am also receiving many things.
I receive so much joy by helping others. The people who received my old clothes and toys truly needed them. It gives me great joy to know that my money and computer power can positively affect the lives of strangers around the world.
A related blog post written by Penelope Trunk, “Education 2.0: What’s most important to do in college today?“.
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09.14.07
Posted in Finance at 2:07 PM by Jeff
In the world of equity investment there seems to be two major camps. One camp supports active fund management (called stock picking), while the other supports passive fund management (mainly index funds).
Those that believe in passive management believe that people cannot beat the market year after year. There are years of proof that an actively managed fund usually does not beat the performance of the index that it seeks to beat.
The benefits of index funds (which are highly recommended by the passive management camp) include lower management fees and instant diversification. Not to mention the long-term returns of index funds are impressive. The passive fund management camp says that inability of actively managed funds to beat their index, coupled with their high fees, mean inferior returns overtime.
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08.01.07
Posted in Career, Finance at 4:02 PM by Jeff
One of my co-workers is set to retire at the end of this week. After 30+ years working at the agency, he secretly gave his two week notice. During the last department meeting his retirement was announced publicly.
When asked at the department meeting for words of advice, he said “Delayed gratification is great.” We all knew what he meant. The delayed gratification of investing money over a long period of time. He talks about it all the time.
Later that day, I ran into him in the hallway and asked him a few questions. Here is how it went.
Q. Do you have any more advice for a young guy like me?
“Save. Max out your TSA.”
TSA stands for tax sheltered annuity, like a 401k or 403b. Most companies (with the exception of my own employer) match all or part of the employee’s contributions to their TSA. That is free money!
Q. I do save. What else should I do?
“Save more! You can never save too much. It’s all about delayed gratification. Spend less now so you can have a lot more later.”
Of course this is my abbreviated version of the conversation, but you get the point. Delay gratification by saving for the future. The last comment he said while walking away was classic.
“Oh, and don’t get married or have kids. That will help a lot!”
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