This is Wise Money Decisions, a personal finance blog.
Why the Blog?
I am writing this blog with the hope it might encourage others to think about personal finance and achieve their financial goals. I hope that I may be able to share some information, insights, and ideas that others will find valuable.
I have been reading personal finance (”PF”) blogs for a while. There are some fantastic personal finance blogs. A few favorites show up in my blogroll (look to the right). I have learned a lot from many of them. They are partly responsible for motivating me to start my own blog.
What Are My Financial Goals?
If I am to help others achieve their goals, you may wonder what are my goals. I have a series of smaller financial goals that are all designed to lead to one big goal:
Put into place a reliable stream of passive income that will allow me to retire with no financial worries by age 50. Passive income means dividends, capital gains, interest, rent, and royalties.
No matter what else is going on in my life, I never lose sight of this goal.
What Makes a Good Personal Finance Blog
A good PF blog covers topics that are interesting, perhaps not well understood, and help the reader make Wise Money Decisions. I hope I can provide a unique perspective that will be valuable to others, even on topics that have been covered elsewhere. I also plan to cover topics that I have not seen covered in other PF blogs.
About Me
When I read a new blog I like to know something about the author. A little about me:
Career. In the not-so-distant past I was a mathematician and engineer. I was even a rocket scientist for a short time. A few years back I decided on a career change. Now I spend most of my time as a corporate lawyer.
Family. I am married with a 2-year-old daughter. Of all the jobs I’ve had, dad is my favorite by far. Spending more time with my family is my biggest motivating factor to establish financial security.
Where. I live in the heart of Silicon Valley. It’s a truly amazing place. It’s hard not to have Silicon Fever (our version of Potomac Fever) when you drive down the freeway and see the worldwide headquarters of Google, Hewlett-Packard, Apple, Yahoo, Cisco, not to mention other just-as-important companies that are not household names. There is an energy and vibrancy, and it’s reflected in the people I meet here. But it comes with a price. The San Francisco-San Jose corridor consistently ranks as one of the country’s most expensive places to live. If you want to retire early here you either need a great start-up idea, or you better make Wise Money Decisions.
Numbers versus Emotions. As a mathematician I like numbers. As an engineer and tax lawyer I appreciate rigorous analysis. I combine both in my approach to money. I don’t make important money decisions until I analyze the numbers. I try not to let psychology trump the numbers. Whether it’s choosing a mortgage, buying a car, investing for retirement, or starting a business, I trust numbers.
Too Much Information (and much of it is bad). I believe the financial industry produces too much noise. There is some good advice out there. But there is also a lot of bad advice. Unfortunately, it can be difficult to discern the good from the bad.
Much of the advice that comes through TV, internet, magazines, newspapers, friends, relatives, and (sadly) even some financial planners is bad advice. In some cases it’s unintentional (e.g. well-meaning friends and relatives) and in some cases it’s intentional (e.g. planners that pad their income by steering you toward investments that aren’t right for you).
The financial industry is more interested in selling their services than providing sound financial advice.
The ubiquity of bad financial information is a big reason why I’m writing this blog.
Feedback
I hope you will provide comments and suggest topics. I hope to create a community where people can politely and competently discuss personal finance and investing.
I have never written a blog. I expect the look and feel and features of the site will change as I learn. I am open to comments and suggestions on the site, especially if you have some experience with blogging.
Disclaimer
As an attorney, I must make the standard disclaimer. Nothing on this blog is intended to be legal or financial advice. No communication between any reader and myself is intended to establish an attorney-client relationship or an adviser-client relationship unless specifically stated.