Have you ever heard the phrase "shirtsleeves to shirtsleeves in three generations"? This site notes that other cultures have similar sayings (Japan: “Rice paddies to rice paddies in three generations.” Scotland: “The father buys, the son builds, the grandchild sells, and his son begs.” China: “Wealth never survives three generations.”) and here's how it explains them … [Read more...]
Help ESI Money Move to the Caribbean
That headline got you, didn't it? :) Well, the truth is I do need some advice and thought you would be the perfect ones to ask. Here's our situation: The cold gets to us every winter. It's just too cold for too long. We used to take cruises for 7-10 days in the winter when we lived in Michigan. But with our kids' crazy work schedules, that was not realistic this … [Read more...]
Help a Reader with Housing Advice
I recently had a reader email me and ask about buying a house. I suggested he write something up, I'd post it, and we'd let the ESI Money community weigh in on the subject. Here's his background/questions: I know home ownership is more than an investment but I am trying to ensure my first time purchase in the near future is not a money pit and something that can … [Read more...]
Reader Question: How to Invest
I recently received an email from a reader asking for some thoughts from the ESI Money community. Here is her note: My husband and I are 32 years old, and currently both have employer and individual retirement accounts. I have based my asset allocation largely from this article back in 2008 (ancient history!). We currently have $130K in our combined Vanguard accounts … [Read more...]
