PJFP.com

Tag: Financial planning

  • What You Wish You’d Known Sooner

    As we navigate through the different stages of life, we all encounter epiphanies—profound realizations that fundamentally change the way we view the world, ourselves, and our relationships. These moments of clarity often come too late to influence earlier decisions but provide valuable lessons for the years ahead. Let’s dive into the key epiphanies that many…

  • $2.2 Million is the New Benchmark for Wealth in 2023 – Modern Wealth Survey Insights

    In the complex and ever-changing financial landscape of America, understanding the intricate web of demographic and social dynamics is more than just a necessity—it’s an imperative. A recent report from Charles Schwab & Co., Inc. and Logica Research, aptly titled “The Modern Wealth Survey,” provides a comprehensive and insightful snapshot of these dynamics. It unveils…

  • Busting Financial Fears: Unmasking the Rare Disaster Theory

    If you’ve ever found yourself going through lengths to protect your assets from an unlikely catastrophe, you’ve likely encountered what economists call the ‘Rare Disaster Theory.’ But what is it, and how does it impact our financial decision-making? What is the Rare Disaster Theory? The Rare Disaster Theory is an economic principle that suggests individuals…

  • Redefining Wealth and Success: Unconventional Wisdom from Morgan Housel

    Renowned financial writer and partner at Collaborative Fund, Morgan Housel, has shared some insightful observations in his recent blog post “Some Things I Think,” published on April 26, 2023. While delving into a range of subjects, he primarily focuses on our perceptions of wealth, success, and personal growth, offering thought-provoking perspectives that challenge conventional wisdom.…

  • The Richest Man in Babylon: A Classic Guide to Building and Managing Wealth

    The Richest Man in Babylon is a classic personal finance book written by George S. Clason. The book is a collection of parables set in ancient Babylon, with each story offering valuable lessons on how to build and manage wealth. The main character in the book is Arkad, a poor scribe who becomes the richest…

  • Planning for Sequence of Return Risk

    Sequence of return risk is an important factor to consider when planning for retirement. It is the risk of a downturn in the stock market or other investments at the beginning of your retirement. This can result in a lower-than-expected return on investment, which can make it difficult to meet your retirement goals. Fortunately, there…

  • The Importance of Personal Responsibility and the Spotlight Effect

    Personal responsibility and the spotlight effect are two important concepts to consider when striving to be prepared for anything in life. Taking personal responsibility means owning your actions and decisions, and not being afraid to admit when you’re wrong. The spotlight effect refers to the tendency to overestimate the attention others pay to us and…

  • 6 Steps to Build Wealth Slowly and Steadily

    There are many ways to get rich slowly, but some strategies that may be effective include: Remember that getting rich slowly takes time and discipline. It’s important to be patient and to stick with a long-term financial plan.

  • 50 Ways to Grow Your Wealth and Minimize Risk