Charlie Munger and his principle of inversion tells us that sometimes the easiest way to achieve something is to flip it and consider the best ways to accomplish exactly what you are trying to avoid. Accordingly, check out this slide deck about Avoiding Financial Disasters by Barry Ritholtz (full 1-hour video presentation here). If you would like to destroy your wealth, here are the top 10 ways to do so: This may sound overly simple, but nearly every single wealthy person who has gone broke has used one of these methods. Obviously some of these are harder to avoid than others, but most are clearly identifiable and avoidable. Give them a wide berth. For example, if you had most of your net worth in shares of Silicon Valley… [Read More...]
Stocks Are Not an Inflation Hedge (But Own Them Anyway)
Per Wikipedia, a financial “hedge” is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. Wouldn’t be nice if for every Investment A, there was another Investment B that would always move in the opposite direction? Unfortunately, things aren’t so easy. A common question: Should we own stocks as a hedge against inflation? The Institutional Investor article Here’s Proof That Stocks Were Never an Inflation Hedge provides a little of clarification: “Equities are not an inflation hedge. When inflation is high, they tend to do poorly. But in the long run, they have beaten inflation, so a lot of people claim they’re an inflation hedge, but [that claim is the result of confusion]. In the … [Read More...]
Chase Ink Business Cash Card Review: $900 Bonus (Highest Ever), 5% Back Categories, No Annual Fee
Highest bonus ever on this no annual fee card is ending soon as well. If you have one, go for the other. Got a small business? The Ink Business Cash Card has improved their sign-up promotion to a $900 cash bonus (90,000 Ultimate Rewards points) for new cardholders, along with 5% cash back and 2% cash back on select small business categories, all with no annual fee. Here are the details: OFFER ENDING SOON: Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. 5% cash back (or 5X Ultimate Rewards per dollar) on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. 2% cash… [Read More...]
Top 10 Best Small Business Credit Card Bonus Offers – March 2023
Updated March 2023. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, Amazon, eBay, Etsy, Airbnb? A small business credit card separates your personal and business expenses and can build up your business credit profile. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. These are the top 10 credit card offers that I would personally apply for right now (or have already). Recent changes: Added Marriott 125k, Alaska 70k, Hilton 165k, Ink Cash 90k w/ No AF, Ink Unlimited 90k w/ No AF, Ink Preferred 100k/$1250. Removed Hawaiian 90k, Barc AA 80k+$95, JetBlue 80k+$99, United 150k, Marriott 125k, … [Read More...]
Marriott Bonvoy Business® American Express® Card Review – 125,000 Bonus Points + Free Annual Award Night
New limited-time offer. The Marriott Bonvoy Business® American Express® Card is the re-branded business credit card of the Marriott Bonvoy program (formed after the merger of Marriott Rewards and Starwood Preferred Guest). This card offers unique perks for Marriott customers. Here are the highlights: Limited Time Offer: Earn 125,000 Bonus Marriott Bonvoy Points after you use your new Card to make $5,000 in purchases within the first 3 months of Card Membership. Offer ends 5/3/23. Receive a 7% discount off standard rates for reservations of standard guest rooms at hotels that participate in the Marriott Bonvoy program when you book directly. Terms and Conditions Apply. 6x Marriott Bonvoy Points on each dollar of eligible purchases at hotels participating in the Marriott Bonvoy(R) program. 4x points for purchases made … [Read More...]
Health Care Sharing Ministries: Understanding the Risks and Bankruptcy Examples
Back in 2020, I wrote a post Do Not Buy List: Healthcare Sharing Ministry As Health Insurance Alternative. Although they may present a lower-cost option that even aligns with your faith, they can also contain hidden and unpredictable risks. Since then, membership has grown but many have also found themselves stuck with large and unexpected unpaid bills. Sharity Ministries, also formerly known as Trinity HealthShare, went into bankruptcy in 2021 and left their 40,000+ members with over $300 million in unpaid healthcare claims. A 2022 lawsuit by the State of California alleged that Sharity Ministries paid out as little as 16 cents of every dollar it took in. Medical Cost Sharing Inc. of Missouri was shut down by the FBI and Dept. of Justice in early 2023 after allegedly taking in… [Read More...]
Capital One VentureOne Rewards Card: 40,000 Bonus Miles (Best Offer) w/ No Annual Fee
The Capital One VentureOne Rewards card is their no-annual-fee travel rewards card with a flat 1.25x miles per dollar on all purchases. I haven’t really discussed this card previously as I prefer the bigger rewards and bonuses from the premium Capital One Venture and ultra-premium Capital One Venture X cards, but the welcome bonus amount has just been increased significantly to 40,000 miles after $1,000 in purchases within the first 3 months. This is the best offer that I’ve seen for this card. 40,000 miles can be redeemed for $400 in travel, offsetting any travel purchase made with the card (any airline, any hotel, AirBNB stays, Uber rides, no blackout dates), which is very high for any no-annual-fee card in general along with… [Read More...]
Vanguard: 401(k) Balances Dropped by 20% in 2022, But Few Panicked
Vanguard has released some preview numbers from its 2023 America Saves report, which covers the nearly 5 million 401k, 403b, and other retirement plans that Vanguard administrates. More stats in this CNBC article. Even though the average balance dropped by 20% in 2022, there wasn’t widespread panic or account changes. In fact, nearly 40% increased their deferral rate: While average account balances decreased by 20% in 2022, primarily driven by negative market performance, participant behaviors mostly remained positive. Nearly 4 in 10 participants increased their deferral rate (either on their own or as part of an automatic annual increase), in line with previous years. […] And against a challenging market environment with increased volatility, only 6% of nonadvised participants traded, the lowest point in 20 years. The table below goes into more… [Read More...]
Sports Betting vs. Investing: Slight Edges Adding Up in Very Different Ways
According to CNBC, over 100 million bets were placed over Super Bowl weekend. Sports gambling is becoming more and more accepted as a casual part of the entertainment, but right now people are hiding from their spouses and partners the fact that they lost hundreds, thousands, or more. They are already planning their next bets to “just break even” and “just get back to zero” whereupon they promise themselves they will stop. But the more they bet, the deeper the hole gets. A quick lesson on sports gambling odds. The standard odds on a basic spread bet are -110. Let’s take Super Bowl 54 as an example, where the betting line is Chiefs favored to win by 1.5 points over the 49ers. You can either bet on the… [Read More...]
Top 10 Best Small Business Credit Card Bonus Offers – February 2023
Updated February 2023. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, Amazon, eBay, Etsy, Airbnb? A small business credit card separates your personal and business expenses and can build up your business credit profile. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. These are the top 10 credit card offers that I would personally apply for right now (or have already). Recent changes: Added Hilton 165k, Ink Cash 90k w/ No AF, Ink Preferred 100k/$1250, Hawaiian 90k, Citi AA 65k. Removed Barc AA 80k+$95, JetBlue 80k+$99, United 150k, Alaska 70k, Marriott 125k, Delta 75k This is a … [Read More...]
Marriott Bonvoy Boundless Card Review: 100,000 Bonus Points Limited-Time Offer
100k limited-time offer is back. The Marriott Bonvoy Boundless credit card is one of the co-branded rewards card for Marriott hotels (including hotels from the merger of Starwood Preferred Guest and Marriott). Here are the highlights: Limited Time Offer! Earn 100,000 Bonus Points after you spend $3,000 on purchases in the first 3 months from account opening. Earn 3X points per $1 on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining. 1 Free Night Award (valued up to 35,000 points) every year after account anniversary. 1 Elite Night Credit towards Elite Status for every $5,000 you spend. Earn up to 17X total points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy(R) with the Marriott Bonvoy Boundless(R) Card. 2X points for… [Read More...]
Top 10 Best Credit Card Bonus Offers – February 2023 (Updated)
Updated and checked February 2023. That space in your wallet or purse is valuable, and you should be the one to get that value. By being smart and picky, you can find offers worth $500+ for a single card, all to encourage you to apply and try it out. This adds up to thousands of dollars in extra income (over $5,000 in 2021). These are the top 10 credit card offers that I would personally apply for right now (or have already). Notable recent changes: Added Southwest CP+30k, Marriott 100k, Hilton 100k, Aeroplan 100k, Delta 70k, IHG 120k w/ no AF, Alaska 70k+$100 Removed Premier 80k, JetBlue 80k. This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even … [Read More...]
Delta SkyMiles® American Express Cards – Up to 100,000 Bonus Miles (Limited-Time Offers)
(Update: Limited-time boost to welcome offers announced. Also, the entire line-up of cards now offer a new perk of 15% off award travel when redeeming miles for Delta flights on delta.com. Details below.) Delta Airlines American Express cards offer various special perks like free checked bags, priority boarding, and the ability to earn Delta Skymiles with card purchases. As you can only get the welcome offers once on each of these cards per person per lifetime (each card is considered different), I recommend waiting until a limited-time offer to maximize your benefit. Here are the current offers: Delta SkyMiles® Gold American Express Card Earn 70,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 6 months. $100 Delta … [Read More...]
Capital One 360: 11-Month CD at 5.00% APY
Capital One 360 has a new special 11-month CD at 5.00% APY. Note that unlike many other 11-month CDs, this one does have an early withdrawal penalty of 3 months of interest, and it looks like they will eat into principal if you withdraw in the first 3 months. There are also no partial withdrawals: Can I withdraw my money before the CD term is over? You can always decide to withdraw your money early. However, like with any CD account, there is a penalty for withdrawal prior to the end of your CD term. For 12 month CD accounts (or less), the penalty for withdrawing early is 3 months of interest. For CD accounts longer than 12 months, the penalty for withdrawing early is 6 months of interest. You also cannot make a … [Read More...]
Chase IHG Rewards Club Premier Card Review: 175,000 Bonus Points (Best Offer Ever)
(New limited-time offer, highest bonus ever. Boosted this bonus as well; Compared with the no-annual-fee Traveler, this card has higher upfront bonus, higher purchase rewards, and $100 Global EntryTSA PreCheck fee credit but also a $99 annual fee.) The Chase IHG Rewards Club Premier credit card is the IHG hotel co-branded card that includes special IHG perks like a free night award every year you keep the card, Elite status, and every 4th award night free. Here are the highlights: Earn 175,000 Bonus Points after spending $3,000 on purchases in the first 3 months from account opening. Free Award Night after each account anniversary year at eligible IHG hotels worldwide. Valid at IHG Hotels with a current point redemption cap of 40,000 points. NEW: You … [Read More...]
Top 10 Best Credit Card Bonus Offers – January 2023 (Updated)
Updated and checked January 2023. That space in your wallet or purse is valuable, and you should be the one to get that value. By being smart and picky, you can find offers worth $500+ for a single card, all to encourage you to apply and try it out. This adds up to thousands of dollars in extra income (over $5,000 in 2021). These are the top 10 credit card offers that I would personally apply for right now (or have already). Notable recent changes: Added IHG 120k w/ no AF, Alaska 70k+$100, Barc AA 60k, Venture 75k Removed Premier 80k, JetBlue 80k, Delta 70k. This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even higher than those on … [Read More...]
Chase Bank $900 Bonus w/ Coupon Code: Total Checking + Savings
Chase Bank has a Total Checking + Savings account promotion offering up to $900 total for new customers that open both a checking and savings account with them along with additional specific requirements. This is a limited-time offer and significantly bigger than their usual bonus amounts. I recommend the e-mail option where you get an e-mail with confirmation subject “Your $900 coupon from Chase is here!” along with a unique 16-character coupon code. Otherwise, make sure you click on the correct online link on the $900 page to apply the proper code to your application. Current shown expiration is 4/19/2023, but it may end earlier. The notable requirements are that you must switch over a “real” direct deposit to the checking and… [Read More...]
Marcus Bank: $100 Bonus on $10,000 Deposit (New and Existing Customers)
Marcus by Goldman Sachs is offering a $100 bonus if you deposit $10,000+ in new funds into their online savings account within 10 days of enrollment at this special offer page. Valid for both new and existing customers. You must enroll by 2/15/2023 and maintain the new $10,000+ deposit for 90 days (after the end of the 10-day funding period). You then get the $100 after another 14 days. No offer or promo code required. They have done a similar promotion in past years (and it’s nice that you can keep doing it). After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the “Funding Period”). The Account balance plus a minimum of $10,000 in… [Read More...]
Chase Aeroplan World Elite Mastercard Review: 70,000 Bonus Aeroplan Points (Redeem For Travel at 1.25 Cents/Point)
Update 1/13/23: You can now redeem Aeroplan points for a statement credit to cover travel purchases made with your Chase Aeroplan card, including airline flights, hotels, cruises, car rentals, rideshares, parking lots, and more. The redemption ratio is 1.25 cents per point. That means the 70,000 point new cardholder bonus below is worth at least $875 towards travel. This provides a nice minimum floor on the value of an Aeroplan point. You can redeem unlimited points for 2023 as an introductory offer; in the future it will be capped at 50,000 points redeemed per year in this way. Redeem points for a statement credit to cover travel purchases made with your Card, such as hotels, car rentals, ride-shares, flights, and more. There is no limit to the amount of points you … [Read More...]
Public App Treasury Account Review: 6-Month T-Bill Interest With The Ease of a Savings Account?
Investing app Public just announced a Treasury Account which basically lets you buy and hold 6-month US Treasury Bills in a more convenient wrapper (press release). You can invest as little as $100 and they will buy the T-Bills for you (and sell them for you if you choose to withdraw). This is done via a partnership with Jiko. From their site: Investments in T-bills are made in $100 increments. […] T-bills are held in custody at The Bank of New York Mellon. Proceeds are automatically reinvested (i.e., T-bills are “rolled”) at maturity. When funds are needed, T-bills are liquidated on-demand. Right now, T-Bills yield more than most online savings accounts, and their interest is also exempt from … [Read More...]
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