Leveraging equity compensation is one of the potential avenues we previously highlighted for use on the road to building wealth. But to enjoy the rewards, you have to know how to manage the risks along the way. Many industries offer a piece of ownership to company employees through equity compensation packages. If you receive equity,…
How to Build a Bulletproof Balance Sheet
Too often, we equate being conservative or risk-averse with missing opportunities, or missing chances to grow wealth. While there is such a thing as being too hesitant or too cautious, there’s a good reason to lean toward less risk when doing long-term planning. Even if you feel highly comfortable with risk or actively seek it…
Wealth Management Is an Infinite Game. Are You a Good Player?
Despite the recent popularity of people playing day trader, trading stocks using gamified apps designed to hook your attention and keep you engaged is a risky proposition. Playing on trading apps is a great way to gamble while casinos operate in limited capacity due to the ongoing coronavirus pandemic, but it’s a poor strategy for…
Is Your Financial Plan Missing This X Factor?
We originally wrote this this piece for Kiplinger, where it was first published. We’ve provided an updated version for the BYH blog here. There is no shortage of great content available for those who want to build a sound financial plan that considers how you may want to retire someday (especially if you want to…
Managing Money as a Couple: Tips and Tricks to Get It Right
If you ask 10 different couples how they manage their money, you’ll probably get 10 different answers… including something along the lines of “We don’t. Budget? What budget?” Let me go ahead and say that might be the only wrong answer here. Some couples keep separate finances, both before and after marriage. Others combine everything…
Beyond Finances Podcast #41: So You Want to Make a Speculative Investment
A broad-based, globally diversified portfolio is hands-down the right answer when it comes to growing wealth for the long term. But that doesn’t mean other, more speculative and risky investments are always a bad move… They’re just not a great idea most of the time. Today, we’re looking at some alternative ways to invest outside…
Have Equity Comp? Make Sure It Doesn’t Put Your Wealth at Risk
A version of this article was originally written for and published on Kiplinger. Equity compensation can be an extremely useful tool when it comes to building wealth. And just like any other tool you may use, you can leverage your equity comp to build something great — in this case, significant wealth — or, you…
Beyond Finances Podcast #39: We Bought a House (in a Pandemic). AMA.
Buying a house is an intensive (and stressful) process in the best of times. Throw in a crashing economy and global pandemic — and the fact we don’t do anything the “normal” way — and our recent experience got pretty interesting. Okay, to be fair, the pandemic didn’t dramatically change much about the process of…
The Truth About Financial Advice Most Experts Won’t Tell You
If you go and seek out financial advice, you will find a lot of people ready to give you their opinion on the best thing to do with your money. And they might actually have great advice that is sound, reasonable, and wise. The problem, however, is that it may or may not apply to…
How to Manage Your Personal Finances Through Tough Times
Figuring out how to manage your personal finances is never easy. Most of us didn’t get a formal education in money, and even majoring in something like business or finance doesn’t help much when it comes to personal finance. If we learn anything, it usually comes from our parents — and that might not be…