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The Best in Money is a bi-weekly series released on Monday which highlights the best pieces on money we’ve stumbled on over the past few weeks. Some of the pieces are recent and some we’ve just discovered for the first time -- but all of them have made us think and are worth checking out. We all know how Mondays can be a drag, so The Best in Money collection is designed to help you think, learn, and give you some inspiration for the week.
The Best in Money include blog posts, popular media articles, think pieces, videos, podcasts, and the occasional book that you should check out. We are always on the lookout for the good stuff. This list is curated by Grant from Millennial Money and Drew from GuyonFire.
The Best in Money (Volume 3)
1. The Tyranny of Convenience by Tim Wu
This is an exceptional opinion piece on what we are trading for convenience -- when we pay to have something made easier. I’ve thought a lot about the cost of convenience and even have a small section in my book about it, but Tim Wu has written almost everything I’ve been thinking in this piece. It’s well worth your time and will make you think twice the next time you call an Uber, order on GrubHub, or take the easy way.
2. I’m Scared of A Crash, Where Should I Put MyMoney? by Fritz at The Retirement Manifesto
In this great blog post, Fritz from The Retirement Manifesto lays out some very smart moves you can make right now with your investments instead of freaking out. It’s definitely been a wild few weeks for the stock market but stick with your investment strategy. I’ve heard from so many of you asking what you should do and the key is to remember that long-term investing is long-term investing. You should be investing for the next 10, 20, 30+ years, so keep investing and let it ride. Market shifts are inevitable and normal.
3. You Are More Than What You Earn by Taylor Milam
This is a post I first read last year, but I recently shared it with someone who was telling me about how they never feel like they never feel fulfilled at their job. How they never feel like they have “enough”. This post immediately popped into my mind and so I read it again and had to include it here. Taylor has a great perspective on this topic and shares her story of working at a digital marketing agency and feeling so unfulfilled that she knew she needed to make a big shift.
4. Here’s When You’ll Become A 401k Millionaire by Sam at Financial Samurai
I’m a big fan of Sam’s blog and have been a long time reader. When a lot of personal finance bloggers focus on cutting back, Sam has never shied away from trying to make as much money as he can (why not?). His posts have always challenged me and made me think and this one is no different. In this post, he outlines when you can realistically expect to reach $1 million within your 401k based on your target investment risk/asset allocation. It’s a pretty compelling case for keeping your money 100% invested in the stock market.
5. Does Money Buy Happiness? Instagram’s Most Ridiculous Playboy Shares the Truth by My Money Wizard
The connection, or lack thereof, between money and happiness, is always an intense topic of conversation. In this great post, My Money Wizard breaks out the philosophy of Dan Bilzerian, the famous Instagrammer and poker pro and what he thinks about the connection between money and happiness.
6. Berkshire Hathaway Shareholder Letter by Warren Buffett
Warren Buffett completely redefines what it means to be a legend. The has never been and probably will never be another investor like him. His mixture of keen insights and wise sayings make him a pure joy to listen to and read. One of the highlights of the year for Berkshire Hathaway shareholders (and many value stock investors) is the annual Berkshire Hathaway shareholder letter. Warren drops a lot of insight and wisdom that will teach you not only about the stock market but also about life. If you want to go really deep here is an archive of all of Warren’s shareholder letters going back to the 1960’s. Be careful, they are addicting but educating. I’ve spent a lot of time down that rabbit hole.
1. Mixed Up Blog -- 67 Great Frugal Tips
2. Personal Finance For Beginners -- Things To Do When You’re Bored
3. Real Money Robert -- How My Financial Mistakes Cost Me Over $300,000
4. Ninja Budgeter -- Why I Stopped Following Dave Ramsey
5. Invested Wallet -- Become Financially Literate
6. Peerless Money Mentor -- From Broke to Financially Woke
7. Millionaire Dojo -- What Sells on eBay
8. Millionaire Mob -- Free Stock Calculator
9. Wealthy Nickel -- Money Goals
10. Debt & Cupcakes -- Budgeting for Beginners
11. Eat Money -- Net Worth Isn’t Important
12. Fiintrovert -- 5 Alternatives to FI
13. Fred Lemenson -- Dealing With Addiction
14. Life For The Better -- What I Learned Going Tiny
15. Vital Dollar -- 40 Hobbies To Make Money
16. Making Momentum -- Make Money From Your Phone
17. Time In The Market -- Compound Interest Explained
The Best in Money -- Audio
I’ve gotta admit I’ve gotta a kind of weak spot for good commencement speeches and this is one of my all-time favorites -- “This is Water”. David Foster Wallace gave this speech at Kenyon College in 2005 and unfortunately, there isn’t a video of the speech, only this audio. While he covers a lot of ground in such a short time, his focus on what you are trading money for and the life you are expected to live are transcendent and profound. It’s worth 22 minutes of your time this week.
The Best in Money -- Book
Since I left the corporate world last October when I haven’t been working on my book, I’ve been reading a lot. I’m a big fan of Cait Flanders blog and writing, so I was excited to read her book The Year of Less: How I Stopped Shopping, Gave Away My Belongings, and Discovered Life Is Worth More Than Anything You Can Buy in a Store. She takes you on a journey as she unpacks her life and removes the need for money. What happens is remarkable. It’s the best book I’ve read so far in 2018 and will truly make you think -- it may even change your life.
The Best in Money -- Video
Sorry for the shameless plug here, last week I was on ABC Nightline talking about why you shouldn’t be investing in Bitcoin. I’m still surprised so many readers keep hitting me up asking for advice on Bitcoin. This is a pretty solid segment on Bitcoin that I hope convinced at least a few people not to invest in it!
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Have a good week. Peace. ✌️