Fun question today for our Friday episode...comes in from Chris:
Looking to see if you have any insight on emotional/psychological decisions versus logical decisions when it comes to finance.
Back story -
I have a paid for 20 year old Harley. I have not ridden it in three years, I spend $200/year on an insurance policy, each spring I do maintenance on it which costs about $30, and living in Minnesota, we only really have 6 months or so of decent riding weather. I have a big garage so storage is not an issue, apart from each winter when I have to move it around in and tell myself I'll sell it in the spring.
I can make the logical argument to myself that I need to sell this. It is a depreciating asset, costs money to maintain and insure, and it really brings no value to my life.
However, I can not bring myself to sell it. I have no pressing financial obligations so the $5-6k that I would get from selling it would really not do much to improve my life. About the only thing...
I thought about simply calling today's show, "On Hammers."
You pick the title you prefer...but recognize the truth: tools are tools and their usefulness depends not on their inherent attributes but on their appropriate application.
Today's show rounds out a special series of live Q&A shows. Today we cover:
Enjoy the show!
I've been doing a live Q&A series...today we cover these:
As we all watch and process the mass shooting in Las Vegas this weekend, I thought it would be appropriate to share a few lessons learned.
I always try to process an event like this with an eye towards the lessons I can learn.
The tactical situation in Las Vegas was impossible. I don't think you could imagine a worse situation to be in as a concert-goer. An absolute nightmare.
But, I do have a few thoughts that I think can help. And since I don't hear anyone sharing anything practical, here are my suggestions.
If you have additional practical, actionable ideas, I'd love to hear them.
I'm hosting a special Q&A series this week which is open to the entire listening audience.
Today we tackle:
If you'd like to call in for tomorrow's show, here are the details you need to know.
On Friday's, we do Q&A for our Patrons! Today, we cover:
I feel like I owe it to you to keep you semi-current on the state of tax policy in the USA. But, it's too early to have any serious details about the current Republican proposals.
I thought instead we could have a useful philosophical discussion about taxation. My challenge to you today is to answer these questions, for yourself.
Today's question involves a generous financial gift from an in-law. How should this listener handle it to make sure it's a blessing and not a curse?