Buying New Clothes And Jewelry Before Sukkot
The cornerstone of personal finance is to live within your means. Buying something you can’t afford goes against this dictum and will set you up for financial ruin.
ParkBridge’s Outlook For 2024: Seven Mistakes To Avoid In The New Year
As I say every year, it’s important to keep in mind that these predictions are nothing more than educated guesses, wishful thinking, and marketing.
V’nahafoch Hu And The Dangers Of “The Kiddush Club Portfolio”
The KCP is often the result of social pressure from one’s community and circle of friends. It’s quite common for people to exhibit conformity bias, where they behave according to, and make decisions based on, what others around them deem acceptable.
My Commencement Address: 7 Ways to Build Your Human Capital
An open letter to recent college graduates.
The Golden Calf, Vanderbilts, And Touro Synagogue: Money Lessons From The Parsha
When I meet with affluent families, I endeavor to frame money as a tool and not a scorecard. Communicating this viewpoint is often even more impactful than the investment recommendations or tax mitigation strategies I implement on their behalf.
The New Pharaoh & Planning For Change
The best way to manage the inevitability of changing market dynamics is to plan ahead.
Buying A Home: A Bad Investment, But (Usually) A Great Financial Decision
My personal view on homeownership has evolved over time. Instead of focusing on the subpar returns that most homes will generate, I have come to appreciate why a house may be an excellent financial decision for many families.
Affording College: Important Considerations For Every Parent
Any college-bound person should fill out the FAFSA a year prior to matriculation. Remember, your family doesn’t need to have a low income to qualify for assistance.
Money Advice Every Parent Should Give Their Children
Financial planning is not only about the accumulation of wealth, it is also about the transmission of values to the next generation.
Spending On Purim: A Blueprint For How To Have A More Meaningful Chag
With Purim rapidly approaching, below is a blueprint of how to prudently spend your money to enhance the holiday instead of just trying to one up your friends.
Should I Pay For The Young Couple’s Shana Rishona In Israel?
While you seem less enthusiastic about your son’s plans, your in-laws may be ecstatic about the idea. They may be more than willing to pick up the tab.
Enjoy Your Herring And Retirement Too
Besides mortgage and insurance payments, there is a myriad of costs associated with maintaining a home. It’s important to factor in these annual upkeep costs to ensure you are purchasing a home that you can actually afford.
Seven Ways To Invest In Israel Today Given The War In Gaza
There are also other ways of advocating for Israel. This may include peaceful rallies and writing letters to your local politicians. While it may feel like our elected officials have their own agenda, the reality is they like their jobs and can’t totally ignore their constituents.
Is It Wrong To Go On A Lavish Pesach Program?
I don’t oppose lavish vacations. In fact, as long as someone is living within their means, saving for their future, and giving to tzedakah, they should be able to go on the most extravagant and over the top vacation that they want.
Spending Money On Things Vs. Experiences
The importance of creating meaningful experiences is especially relevant as we approach the chagim.
Confirmation Bias And What The Media Can Teach Us About Personal Finance
The question I constantly find myself asking is why does this intellectual dishonesty occur? The answer, at least partially, is due to confirmation bias.
Remembering Daniel Kahneman: The ‘Zeidy’ of Behavioral Economics
The biggest stumbling block for many investors is themselves. The tendency for people to get in their own way is usually what prevents folks from achieving success in the markets.
Is College Still A Good Investment?
When I discuss college planning strategies with clients, I typically focus on how to afford these steep tuition costs.
Affording A Frum Lifestyle: Increase Your Household Income
You may be surprised how many companies would be open to having the right candidate work remotely regardless of their location.
Mid-Year Financial Checklist
Freeing up cash from unnecessary expenses can give you the flexibility to spend more on areas that are more meaningful for you, like family, vacation, or making necessary home improvements.
The Thirteen Principles Of Wealth
Successful investing does not mean perfection. There is no perfect portfolio or time to invest in the market.
Reflecting On The Past Year: 6 Lessons For Investing And Life
One of the biggest determinants of financial success is the ability to stick with a strategy through many different environments.
Financial Planning Checklist: 20 Ideas To Consider Before Year-End
The end of the secular year typically coincides with certain deadlines. It is also a great opportunity to set the stage for a financially successful new year.
The Great New York Earthquake Of 2024: Lessons For Financial Preparedness
Unpleasant surprises that induce feelings of helplessness can also strike our personal finances. In fact, the likelihood of adverse financial events impacting our nest eggs is far higher than experiencing an earthquake.
What Should I Do With My 401(k) From A Previous Employer?
If you spent many years working for a company, it is possible that this pool of money is one of your most significant assets. Therefore, proper management of these funds is foundational to a successful retirement.
Paying For A Wedding: When Machatanim Disagree
A caveat on my perspectives. My kids are not yet of marriageable age. My only wedding planning experience comes from my own nuptials. Although beyond showing up with a suit and kittel, and selecting a stellar mesader kedushin, my involvement was modest, and that’s being generous. My opinions, therefore, don’t stem from the details of planning.
Is Spending Yeshiva Break In Florida Financially Prudent?
The rule of thumb is to have three to six months’ worth of expense money in your account as a cushion in case a need arises.
Shenkman’s 2023 Personal Finance Outlook
Investors should remember that despite what is happening in the world, the markets and humankind have always prevailed.
New Research On The Finances Of Orthodox Jewish Life: Lessons For All
One of my most interesting observations is that the folks who accumulated the most assets were often not the ones with the highest incomes.
Should We Be Concerned About Inflation?
If you are a few years from retirement or in retirement, inflation becomes a bigger concern. You may no longer have a paycheck, can’t take as much risk with your portfolio, and don’t necessarily have the luxury of waiting out a long inflationary cycle.
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