Tips, insights and information on general finance topics for better financial plans.
My name is Greg Rice and I write this blog and started Sightful Software because I believe that enhanced financial literacy and thoughtfulness can have a huge positive impact on people's lives. I want to contribute to that. more.
The market's going to crash. I'm not playing financial oracle or being hysterical, and I'm sure I don't know exactly when, but I think it is an important thing to accept. The market IS going to crash....more.
Simplistic retirement calculators love to show forecasts with a set of assumptions before, then after retirement. Up go the assets, down go the assets in a nice peaked curve. I think this glosses over some of the most critical realities of retirement...more.
Sometimes spending is like an old school phone bill. Insignificant transaction after insignificant transaction, but the total…wow! How did that happen? Part of the answer is that there are lots of little psychological games...more.
Are bonds, even treasury bonds, always a no to low risk investment? Heck no. Not even close. Just like equities you can come out way ahead or lose your shirt and just like equities trying to time the market is a losing game...more.
Death and Taxes, two unpleasant things we can’t avoid but need to think about. Most of us think about taxes when we need to, the IRS makes sure we remember...more.
We all want to have insurance. Carefully selected coverage is an important part of any comprehensive financial plan and our budgets should include the money for premiums...more.
A lot of people don’t think they will ever collect any money from Social Security, 60% of all non-retired adults by some counts. That’s an enormous dollop of skepticism. I’m all for conservative planning and budgets...more.
Diversification across asset classes is part of any sensible portfolio strategy. This means that you don’t just invest in a wide variety of different stocks, but in a variety of different things...more.
It’s a very risky thing to try to “beat the market” and doing so likely makes you more of a gambler than an investor. That said, if you want to craft a sound plan, even using personal financial planning software...more.
If you have thought about retirement at all, and you should, then you’ve probably heard them. Those comforting authoritative generalizations that seem to provide a simple comprehensible...more.
If not for the relentless erosive force of inflation and Financial Planning Software that won’t let me overlook that consideration I’d probably consider stashing all of my money in a mattress (otherwise known as a savings account) and live happily ever...more.
A lot of people’s first reaction to this question will be “what’s the difference?” It’s a fair question. Both involve putting money on some metaphorical or literal “table”, awaiting an uncertain outcome completely beyond one’s control...more.
We all seem to have a basic understanding that there is something called inflation and that it means things get more expensive over time and that it is bad. Nonetheless very few people seem to really appreciate the impact of inflation on their financial plans...more.
As I discussed in my first post on this topic, the first step to being a conscious spender and ending up on the right side of the choice between slowly (or quickly) going broke and accumulating...more.
Good budgets should be Comprehensive in that they include all of your spending, and Organized in a way that helps you understand your spending better. Mostly this means having good Categories...more.
I thought about calling this post “The time value of money” or “The long term power of compounding” or “how to be a millionaire”, but the real thing I want to convey here is that for most people, one’s gut feel...more.
There seems to be a basic truth of human nature that anyone, no matter how talented and successful, will spend themselves broke unless it occurs to them to consciously decide not to...more.
OK so you have some money to invest and you are interested in learning about finance. Common sense suggests that given the huge range of investment products available to you, you should probably seek some advice...more.
Next to diets, following a budget is probably the top good idea that people set out to live by that ends up failing them, abandoned with a lingering bad taste. I believe that the reason for this is that Budgets are easy to do and just as easy to do wrong...more.
Financial Advisors can potentially offer you a great deal of value. Having someone expertly craft a portfolio of investments for you that reflects your risk tolerance and a forecast that supports your goals...more.