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Home Budget
Tracker-
Home Budget Tracker - helps you manage day to day spending. Use it to input receipts, track account balances, stick to your budget, and reconcile statements. Designed to be used by individuals and couples on the go at any stage of life.
Coming soon!
Syncs across all devices.
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Net Worth
Dashboard-
Net Worth Dashboard - where you organize your overall investment portfolio across all your accounts. It computes your current asset allocation (% stocks, % bonds) and compares that to your goals. Assets with publicly traded ticker symbols (stocks, ETFs, and mutual funds) get automatic price updates. Also supports "off line" assets like private funds, individual bonds, and even collectibles.
Works on mobile, tablet and desktop.
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Income/Spending
Simulator-
Income Spending Simulator - projects the course of your financial life. It is useful when considering career changes, major lifestyle choices and retirement (how soon and how wealthy). For numbers oriented people it can be fun to play with as it is designed to be open-ended. The compare mode shows you what a specific change would have on cash flow, asset appreciation, and ending net worth.
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Michael
Denver, CO
Grew up in the 70's, worked in finance for 15 years, dabbled in economic theory in school a little too much.
Here to share my insights on economics and finance!
Blog Posts by Michael:
- April 30, 2021
- by Michael
Real Estate Investing: What You Should Know
If you find real estate investments confusing or are yet to begin your investment journey, here’s a guide to help you get a head start! I was a landlord for several years, including during the …
- April 22, 2021
- by Michael
ETFs for Bitcoin and Other Cryptocurrencies
There are several ETFs available for investing in crypto currencies. See the list below and a discussion of the pros and cons of investing in cryptocurrency this way.
- April 14, 2021
- by Michael
How Alcohol Impacts Your Budget
When you think about your household budget, do you consider how much you will spend on alcohol each month? Do you think about how alcohol affects your health - both physically and mentally?
- February 20, 2021
- by Michael
Currency Brokerages 101: How to Use and What to Avoid
Currency brokerages are, in essence, wholesalers who deal with currency. As this industry is relatively new and not well-regulated yet, you need to be careful when choosing a currency broker.
- January 11, 2021
- by Michael
Are Electric and Hybrid Vehicles Worth It?
Hybrid and electric vehicles are often more expensive than their gas-exclusive counterparts. At the same time their operating cost is lower. With federal and state tax incentives in the mix it can be difficult to …
- December 28, 2020
- by Michael
What is a Target Date Fund?
A target date fund is a retirement fund that automatically reduces risk the closer you are to retirement.
- December 4, 2020
- by Michael
Is It Time to Refinance Your Mortgage
Low interest rates have led many people to wonder if it is time to refinance their mortgage. Low interest rates, as well as several other scenarios, might mean that it is a good time to …
- October 23, 2020
- by Michael
What to Do About Low Interest Rates
Record low interest rates have left people wondering what they should do and what will happen in the future. Here are are several things you can do about the current situation of low interest rates.
- October 2, 2020
- by Michael
What If Your Parents Are Not Able to Retire
Studies have shown that a third of boomers and seniors have no retirement savings. Read on to discover how to start the conversation and help get your parents to the best position possible as they …
- September 25, 2020
- by Michael
How Marriage Will Impact Your Taxes
Everyone wants to maximize their tax returns, and married couples are no exception. In fact, you might have specific goals as a couple for how you want to use your tax return to set yourselves …
- August 15, 2020
- by Michael
Ways to Limit Risk for Ordinary People
The following concepts will help you look at investment risk as well as expected return, and some basic and free ways to limit your risk.
- July 24, 2020
- by Michael
How to Budget to Free Up Your Time
Similar to a financial budget, we all have time budget (whether we know it or not). We budget our time in many ways. The financial budget and the time budget are related. As they say …
- July 15, 2020
- by Michael
Giving to Charity as a Budget Item
As you create your budget, a nice "feel good" line item is giving to charity. Many people donate when they can or when they are asked. Others have charitable donations built into their budgets and …
- June 30, 2020
- by Michael
Budget Like a Hero - 8 Do's and 2 Gotcha’s
Maximizing utility is essential to staying on budget, meeting your financial goals, and growing your net worth. Anybody can do it. Here are nine tips you can use to save money.
- May 4, 2020
- by Michael
How to Save Money During A Crisis
The United States, along with most of the world, is in a recession caused by the outbreak of the Coronavirus. However, there are plenty of ways to save money during the crisis. Additionally, creating good …
- April 21, 2020
- by Michael
The Catch With Tax Deferred Retirement - RMDs
If you want to minimize your tax burden in retirement you need to know about the dreaded RMDs (required minimum distributions). Starting at age 72 RMDs begin to siphon off whatever you have saved in …
- April 3, 2020
- by Michael
Is It Better to Pay Off Your Mortgage or Invest?
It is important to strike a balance between paying off debt and investing. However, it can be difficult to discern what the best option is. In this post I will discuss the tradeoffs between paying …
- March 23, 2020
- by Michael
Being a Lawyer vs Being an Electrician: Net Worth Simulations
Here's what you can learn about electricians, lawyers (and other career paths) by running some comparisons with the Wealth Meta Income and Spending Simulator.
- January 30, 2020
- by Michael
The Cost to Raise a Child - 3 Scenarios
Children are expensive! My estimates range from $42,650 to $916,600 depending on lifestyle. And that is just to get them to age 18. More importantly 40-60% of the cost comes in the first five years! …
- November 30, 2019
- by Michael
How to Create A Budget
A budget is a plan for allocating your financial resources. For some it is about managing month to month, for others it is a roadmap to build the life of their dreams. A budget allows …
- October 7, 2019
- by Michael
How My Wife and I Were Able to Start Maxing out Our Retirement
Here’s how my wife and I got to a place where we could max out our annual retirement contributions. By doing so we gave ourselves a nice raise in the form of a tax cut.
- September 17, 2019
- by Michael
Is it a Hobby or a Business - Tax Implications and Perks
Do you have a hobby that creates a bit of cash flow? In this post we explore the gray area between a hobby and business and the tax considerations both situations.
- August 21, 2019
- by Michael
The Inverted Yield Curve and How Well It Predicts a Recession
A description of yield curves, what it means when they invert, and a table of historical yield curve inversions with associated market tops and recessions.
- July 23, 2019
- by Michael
How to Drop the Financial Baggage Your Parents Gave You
Your parents may have taught you how to ride a bike or drive a car but did they teach you how to properly manage your finances? Many parents are guilty of loading up their kids …
- July 11, 2019
- by Michael
How Much to Save for College?
Our approach is a) college savings is a monthly budget item, b) our kids will be aware of two cost savings routes that make a degree 25% cheaper.
- June 28, 2019
- by Michael
Is Lump Sum Versus Dollar Cost Averaging Better?
Let’s say you have $12,000 cash to invest in the markets. What is the best way to deploy that money - all at once or spread out over time? It depends on your risk tolerance. …
- June 5, 2019
- by Michael
Home Improvements That Give a Return on Investment
If you want to add value to your property, here are a few renovations that will help you increase your bottom line, both for resale value and when staying put.
- April 5, 2019
- by Michael
Will Social Security Run Out of Money? Graphs and Stats Here
Many Americans are doubtful of ever getting their Social Security benefits. They have good reason to be worried. The system is already running a deficit and is on schedule to be depleted in 2034. We …
- March 19, 2019
- by Michael
Are Flexible Spending Accounts Killing Your Retirement Benefits?
Flexible spending accounts give you a tax break in the short term but come with some drawbacks, including the fact that they reduce your social security benefits. We ran the numbers and went in depth …
- February 23, 2019
- by Michael
Climbing the Economic Ladder and Why It Gets Easier as You Go
The myth is true - the more wealth a person has the easier it is for them to get even more. This post breaks down the reasons why and shows you how to get a …
- February 13, 2019
- by Michael
Understanding Total Cost of Ownership - Ignore and Pay the Price
The other day a light bulb in my office burned out. Even though LEDs bulbs were more expensive up front I analyzed the available options and ended up saving $192.06 over 5 years!
- December 31, 2018
- by Michael
Give Yourself a Raise by Deferring Your Income
One on the neatest things you can do for yourself financially is to give yourself a raise courtesy of the IRS. Contributing to a tax deferred retirement account is a special form of saving money …
- December 15, 2018
- by Michael
How to See Through an Investment Sales Pitch
A friendly voice offers to sell you an investment that will make you rich, smart and good looking. It doesn’t matter what it is - an annuity, a mutual fund, a stock, some sort of …
- November 29, 2018
- by Michael
The Rent Spiral - Why Rent Goes Up So Much
Rents always seem to be going up. Why can’t rents stay the same? This painful phenomenon has a name - the rent spiral. If you are renting you are riding it. Let’s explore the reasons …
- October 16, 2018
- by Michael
Asset Allocation Categories - What You Can Bet On
This post explains the investment categories that are commonly found in funds and prospectuses. These asset classes come with complex risk/benefit calculations and can be used to tailor a portfolio to the nth degree.
- September 25, 2018
- by Michael
8 Ways to Win at Budgeting - Like A Boss
Ever wonder where all the money goes, live paycheck to paycheck or find yourself running low on cash? Here are some ideas for getting your finances where you want them.
- September 18, 2018
- by Michael
Rural vs Urban Living - Budgets and Net Worth
Thinking of moving someplace far away? Here are the differences between rural and urban living in terms of budget, housing, net worth and lifestyle.
- September 10, 2018
- by Michael
The Best Timing for a Remodel May Be Opposite What You Think
Let’s test the theory that waiting for a recession is the best time to pay for that $60k kitchen remodel. Sure the price will be cheaper but what about losing out on gains that come …
- August 20, 2018
- by Michael
Does Putting Money Down on a House Make Sense?
It seems like good financial sense to put at least 20% down when you buy a house… right? That is what many banks require to get a loan. But is that a good thing for …
- July 6, 2018
- by Michael
What a Legal Expert Has to Say About Popular Scams and Con Games
When it comes to money, if it seems unusual or too good to be true, it means you are being targeted by a scammer. This post explains a few scams relying on financial ignorance that …
- June 24, 2018
- by Michael
What Is Special About Net Worth and Why Winners Track Theirs
Net worth isn’t just for rich people to “keep score” in an endless game of getting more. It is a key indicator of everyone’s financial health. Income, job title, and especially what car a person …
- June 14, 2018
- by Michael
What Is Asset Allocation?
Knowing your asset allocation is essential to being a successful investor. It tells what percentage of your overall portfolio is in stocks, bonds, and other investment vehicles like real estate, precious metals, etc.
- April 30, 2018
- by Michael
Everything You Need To Know To Retire At 30 - FIRE
Retiring at age 65 sounds nice—but doesn’t retirement at age 30 sound even better? That’s the idea behind FIRE, which stands for Financial Independence Retire Early. The concepts that go into it will help you …
- April 14, 2018
- by Michael
Net Worth Defined With Precision
Net worth, the yard stick for comparing financial success is a loosely defined term (irritatingly so to our brains). See our diagram for the break down of "total" vs "investable" net worth. After you read …
- March 30, 2018
- by Michael
Five Ways to Protect Yourself from Identity Theft
Identity thieves are out to steal your personal information so they can borrow in your name, access your benefits, or drain your accounts before you notice. There are a few simple steps you can take …
- March 8, 2018
- by Michael
The Idea of Utility and Why It Matters for Budgeting
Utility is the overall usefulness you get from something. Everyone instinctively makes decisions based on utility all the time, but do you consider it when you make a big purchase or setup a budget?
- February 19, 2018
- by Michael
Twelve Reasons I Sleep Well at Night While Investing
When I was in my early 20’s I was adverse to the idea of putting money into retirement accounts. I knew on a basic level that my money was “safe” at my credit union and …
- February 7, 2018
- by Michael
Is It Better to Be Hourly or Salary?
In terms of raw take home pay, hourly can be much better compared to a salaried job with long hours. Salaried people should know their equivalent hourly wage especially when working more than 40 hours …
- January 9, 2018
- by Michael
Understanding Net Worth
Net worth is a way of measuring your progress towards financial goals. It is calculated by adding up the net market value of your assets and subtracting all your debts. If you want to build …
- October 17, 2017
- by Michael
TD Ameritrade Commission Free ETF Shake Up
TD Ameritrade has decided to change out its entire commission free ETF lineup. They are dropping almost all the Vanguard and iShares ETFs. The list used to have 100 commission free ETFs and now it …
- September 18, 2017
- by Michael
Overdraft Protection - What Banks and Thieves Love
If a thief gets into your checking account, they can drain your checking account plus your savings account if overdraft is turned on. Overdraft may not be worth the risk if you have even a …
- August 9, 2017
- by Michael
Don't Plan Your Retirement Saving, Automate It
The best day in my financial life was the day I started automating my retirement contributions. I recall a lot of stress in past years centered around market conditions, getting the ‘best deal’, and second …
- May 23, 2017
- by Michael
Inflation - Why Prices Usually Go Up
Have you ever noticed that prices are slowly rising all the time? That effect is called inflation. We’ll discuss where it comes from and how to make it work in your favor, or at least …