Everyone has heard the mantra: Buy low, sell high.

It’s brilliant, why wouldn’t you sell something when its value has peaked in price? Similarly, why wouldn’t you buy something when it’s as cheap as it can be? It’s like the financial equivalent of, “drive safe.”

In the perfect world, obviously we would buy low and sell high, but how do we know when the low’s the low and the high’s the high? Could the price get lower? Sure. Could the price get higher? Sure again. Should I buy now? Probably, especially if you’re thinking about buying a diversified index fund…

Let me start by saying that I am a huge Dave Ramsey fan. When I completed residency and began my current position, The Total Money Makeover was the first personal finance book I read, and pardon the cliché, but it changed my life. It instilled in me a strong foundation in money management and offered me a road map to handle the situation I was in: hundreds of thousands of dollar in student loan debt, starting my first real job at age 31, thinking about buying a home with a wife, three kids and no significant assets.

My first instinct…

Pop-quiz hotshot, fill out this chart:

If this was too easy for you, move along, this isn’t the post you’re looking for. If you’re slightly unsure, either follow along or skip to the end. *Spoiler alert, I’m going in order.

Retirement Accounts

There are so many to “choose” from it seems slightly overwhelming at first. You really don’t get that many choices, if you’re self-employed you can’t invest into a 403(b), if you’re in private practice, you can’t contribute to a 457(b).

So what do these numbers(and letters) mean and which ones can I contribute too? The former comes from IRS tax code, the latter is determined by…

“Ask not what your money will do for you-ask what you can do for your money” -Anonymous

I think what this Anonymous fellow is trying to say, isn’t “what will you do for money?” because frankly, we probably don’t want to know what you would do for money, but rather, “what will you do for your finances?”

We all want our money to grow and grow and be there for us when we ask for it, serve as our nest egg during retirement, eventually go to our kids, grandkids, charitable accounts when we leave this earth. But if we don’t take the necessary steps now, our money will not do this for us.

This is what you…

I love finding easy ways to save/earn money. The trick is when I come across an extra $5 in savings or a $10 check from a rewards site, I immediately invest the money. Truthfully, these small amounts don’t really mean much to me today, but if I develop the habit of always putting this “extra money” aside and letting it grow, it should become a nice little chunk of change down the road.

Let’s take for example the cash back I receive through Ebates. For those that are unfamiliar with this site, if you’re going to make an online purchase…

Hey everyone,

We are off and running! I still am figuring out how this site will go, maybe it will just turn into a page where I post funny videos and pictures. Hopefully it’ll become a place you’ll visit to get ideas, support, feedback, reassurance as you navigate this game of money.

I decided to start this site because I was all too often “coaching” our young partners to take advantage of the many resources available to us when it comes to money. The all too common pitfall was that since we make decent money, there is no need to…

Another Second Opinion

www.anothersecondopinion.com. You should have come to me first

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