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As featured in The Wall Street Journal, Money Magazine, and more!

Transaction Account Guarantee Program

by Luke Landes

The typical FDIC protection is quite limited. Until the financial crisis, most types of bank accounts were covered up to a balance of $100,000. If a bank were to go bankrupt, the FDIC would ensure you would receive your cash up to that limit. The maximum was increased to $250,000 until December 31, 2013, at ... Continue reading this article…

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Obama’s Proposed Investment in American Infrastructure

by Luke Landes

President Obama proposed yesterday spending more than $50 billion over the next six years to modernize the transportation infrastructure in the United States. He is calling for renovations to or creation of 150,000 miles of roads, 4,000 miles of rail, and 150 miles of airport runways. The $50 billion would be an up-front cost, paid ... Continue reading this article…

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Qualifying for a Mortgage as a Self-Employed Individual

by Luke Landes

I mentioned recently that I’m considering buying a multifamily home in the area close to the local Ivy League university and renting out the units, and perhaps living in one unit myself. A quick search on Yahoo Real Estate reveals two are available, priced a $665,000 and $420,000. My current lease isn’t finished until July ... Continue reading this article…

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Podcast 72: How Rich People Think, Steve Siebold

by Luke Landes

On today’s episode of the Consumerism Commentary Podcast, Tom Dziubek talks to Steve Siebold, professional speaker, mental toughness expert and author of the book How Rich People Think. In the interview, Steve discusses his definitions of “middle class” and “world class,” and how members of these two classifications differ when it comes to making financial ... Continue reading this article…

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Size of Lottery Doesn’t Matter, Winners Declare Bankruptcy

by Luke Landes

A new study by researchers as University of Kentucky, the University of Pittsburgh and the Vanderbilt University Law School shows that people who win $150,000 from a lottery are just as likely as those who win $10,000 to declare bankruptcy within five years. I’ve often seen statistics that show that lottery winners often blow their ... Continue reading this article…

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Don’t Like That Political Ad? Click On It.

by Smithee

I recently learned of a sort of fun game that you can play with the political establishment, regardless of whose ideas you want to be represented in Government. Maybe it’s the websites I frequent, but it seems like I’ve been seeing advertisements on many of them on a regular basis for more than two years. ... Continue reading this article…

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Personal Balance Sheet, August 2010 ($382,103, +3.4%)

by Luke Landes

If you follow the endless financial news, you might have heard that the stock market ended August on a sour note. My investments suffered like those of many investors around the world. The only investment I’ve been adding to for the last few months has been my 401(k) at regular intervals. I’ve been holding off ... Continue reading this article…

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Ten Tips for Entrepreneurs

by Luke Landes

I don’t like the term “entrepreneur.” It’s not because it comes from French, though the word does have an interesting etymology. The first time the word was used in English, borrowed from Old French, it meant a “manager or promoter of a theatrical production” (source). The word has a different meaning now. Anyone who runs ... Continue reading this article…

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Considering Buying a Multifamily House

by Luke Landes
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I’m still a fan of the mobility and flexibility offered by renting a place to live rather than buying. I don’t know where I’ll be living in the next few years, and I wouldn’t want to deal with the expense and hassle of selling a house so soon after purchasing. Perhaps my evaluation of my ... Continue reading this article…

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When Does It Make Sense to Pay More For Quality?

by Smithee

My brain is slowly re-wiring itself now that I’m finally free of credit card debt, and I’m wondering about things that I never seriously considered before. I remember many years ago talking with a friend who tried explaining to me that it made sense to spend $600 on a pair of shoes, if they were ... Continue reading this article…

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