Thanksgiving 2024

This Thanksgiving season, I'm feeling a bit reflective.

While I frequently get irritated about injustices in the world, I'm also reminded of many things that have fallen to my benefit, and to the benefit of many - most - Americans. You can even extend that claim to most of the 'First World.' You know, nations like the U.S., Canada, many Western European nations, as well as Japan, Australia, and South Korea, among others.

Is everything always rosy in these countries? Certainly not! But people in these countries generally have the time and energy to worry about things other than farming to eke out a hand-to-mouth living. This extra 'bandwidth' is, in itself, a luxury.

Don't believe me? Just look at all non-human species. Or, if you prefer, look at the lot of most people throughout human history.

Things that have irked me recently include the abysmal CEO-worker pay ratio, conspicuous consumption (which has gotten a rocket boost from social media, though Thorsten Veblen coined the term in 1899, so the Internet is clearly not to blame!), and the elevated prices of what used to be called 'starter homes.' Oh, and avocado toast guy shooting off his big mouth again (though that was a while ago).

But it's important to remember the positive things too!

I'm thankful for numerous blessings in my life, which include:

• Family
• A stable job
• The easy availability of high-quality information
• A historically stable country (politically and economically)
• Luxuries that we normally take for granted, like air conditioning
• A healthy body and mind
• Financial security

And, last but not least, I'm thankful for my blog readers!

It's been a whopping 10 years since I began this blog in May 2024! Along the way, I've been published - academically as well as in personal finance books connected to this blog - gotten full-time employment, and learned a whole lot about various topics (primarily investing, business, and history).

Thanks for following along on this journey, and here's to another 10+ years!

Heavy metal financial education

Financial Education...in a Metal Song?!

This morning, when I was driving to work in my Honda, I flipped between local rock radio stations, and landed on a channel that was playing a song I didn't recognize.

Longtime readers will know that I grew up on rock, and while I've branched out in my old age, I still mostly listen to hard rock and metal.

So on this radio station, I could tell from the vocals that the song was performed by a metal band called Disturbed, though I hadn't heard this particular song before. The song wasn't bad, so I kept listening.

When I heard the chorus, I was taken aback! No, not because they were saying anything 'disturbing.' (See what I did there?) It's because I heard the following:

Guest post: Constructing a Solid Foundation for Your Thriving Home-Based Business Venture

Thinking about starting a work-from-home venture? Enjoy this guest post from David of NeighborhoodWeek.org! He's written a guest post for this blog before, regarding practical financial tips for surviving COVID. You can read that here. We're glad to have him back for another guest post.

Take it away, David:

Image: Freepik

Constructing a Solid Foundation for Your Thriving Home-Based Business Venture

Venturing into the creation of a home-based business marks the beginning of an exciting and demanding journey. With a strategic approach, transforming your passion into a profitable endeavor becomes a tangible reality. This guide explores the critical steps necessary to establish a robust foundation for your home-based business, ensuring its success and longevity.

Carve Out a Professional Space

In your home, dedicating a specific area exclusively for business activities is crucial for maintaining a healthy work-life balance. This space should be quiet and organized, equipped with all the necessary tools and resources to facilitate your work. It's about creating an environment that signals your brain it's time for business, thereby enhancing focus and efficiency. This separation not only boosts productivity but also helps in mentally transitioning from home to work mode, despite the physical space remaining unchanged.

Define Your Goals with Precision

Crafting SMART goals that mirror the aspirations of your business is essential. These goals act as a roadmap, providing clarity and direction. By setting objectives that are specific, measurable, achievable, relevant, and time-bound, you're more likely to stay motivated and on track. This methodical approach ensures that every effort is aligned with your ultimate business objectives, keeping you grounded and forward-moving even when challenges arise.

Engage Customers with Captivating Content

In the realm of marketing, the power of content cannot be overstated. Your ability to produce material that not only educates but also inspires your audience is paramount. It's about crafting stories that resonate, building a brand that speaks to the heart of your audience. This strategy not only establishes trust and credibility but also fosters a loyal customer base eager to engage with your brand. Through consistent and compelling content, you create a narrative that draws people in and keeps them coming back.

Design a Memorable Logo

Creating a logo for your home business is an essential step in building a brand identity that resonates with your target audience. A logo visually represents your business’s values, style, and mission, so it’s important to choose elements like colors, fonts, and symbols that align with your brand's message. Keeping the design simple yet distinctive will help it stand out and be memorable across various platforms, from websites to business cards. For those who are not design-savvy, an online logo generator can be a helpful tool, offering customizable templates and options to easily create a professional-looking logo.

Separate Business and Personal Finances

Keeping your personal and business finances in separate accounts is a non-negotiable practice for any home-based business. This distinction aids in the meticulous tracking of income and expenses, facilitating a smoother financial management process. It simplifies tax preparation, ensures compliance, and provides a clear view of your business’s financial health. This separation acts as a safeguard, protecting your personal finances from business liabilities and enabling more informed decision-making.

Craft a Financial Blueprint

The development of a detailed financial plan is a cornerstone of your business strategy. This blueprint should encompass all aspects of your financial landscape, from startup costs and ongoing expenses to revenue forecasts. Exploring diverse financing options, whether through loans, investments, or crowdfunding, can provide the necessary capital to support your business's growth. A well-thought-out financial plan not only secures your business’s future but also serves as a critical tool for navigating the financial complexities of entrepreneurship.

Set Firm Work-Life Boundaries

Establishing and maintaining clear boundaries between work and personal life, especially when sharing your home with others, is fundamental. Communicating the significance of these boundaries to family members, particularly children, helps minimize interruptions and maintains a professional atmosphere. By setting these boundaries, you ensure that your work time is respected and productive, allowing you to fully engage with your personal life outside of business hours.

Conclusion

Starting a business from home requires dedication, strategic planning, and a clear vision. By following these essential steps, you lay down a sturdy foundation for your home-based business, setting the stage for enduring success. It's a path marked by continuous learning, adaptability, and resilience. Remember, the essence of entrepreneurship lies not just in achieving success but in overcoming the hurdles along the way with grace and determination.

Discover practical financial tips and insights on how to manage your money effectively at The Froogal Stoodent. Ready to take control of your finances? Start by exploring the blog's simple strategies for saving, investing, and more.

2 Funds for Life: A Froogal Stoodent Review

2 Funds for Life: A Froogal Stoodent Review

2 Funds for Life: A Quest for Simple & Effective Investing Strategies by Chris Pedersen – Notes and Quotes

Tenth in a series of book reviews by The Froogal Stoodent

Every aspiring writer is told: “Know your audience.”

Exhibit A: Chris Pedersen’s 2 Funds for Life.

It’s very detailed, and definitely not for everybody. But for his intended audience, it works very well! Are you part of that audience? Let's find out!

Winning?

 They say 'he who dies with the most stuff wins.'

But maybe he who lives with the least stress is the real winner.

Links for January 2024

Links for January 2024

A nice explanation that encapsulates why I'm not buying a home right now: https://www.morningstar.com/portfolios/why-i-dont-own-home

• Also see: https://jlcollinsnh.com/2023/03/02/why-your-house-is-a-terrible-investment/ and https://froogalstoodent.blogspot.com/2018/04/want-to-be-rich-dont-buy-house.html

Are the markets stacked against the little guy? Depends on your investing style: https://awealthofcommonsense.com/2023/07/are-the-markets-stacked-against-the-little-guy/ 

Interesting food for thought: https://ritholtz.com/2023/07/contrarian-inflation/

This guy is really insightful, and has a great way of explaining things: https://www.joshuakennon.com/the-laffer-curve-for-beginners/

A good list! https://filledwithmoney.com/rich-mindset-vs-poor-mindset/

SECRET: how to invest like the 1%! [Spoiler alert: if you're a regular reader of this blog, or if you're at all involved in the online FIRE community, you probably already are, at least for the most part]: https://awealthofcommonsense.com/2023/07/how-to-invest-like-the-1/ 

Another high-income earner crying poverty (*eye roll*): https://www.joshuakennon.com/elie-mystal-says-250000-doesnt-make-him-rich/

Good take on what financial wellness means: https://www.annuity.org/personal-finance/financial-wellness/

Interesting ways to think about wealth: https://awealthofcommonsense.com/2023/07/some-other-forms-of-wealth/

An oft-ignored point (sometimes, even including yours truly): https://ritholtz.com/2020/01/bbrg-shunning-new-cars/

Interesting idea, and I think you could make a strong case for doing something like this (although I, personally, do not): https://awealthofcommonsense.com/2023/07/investing-100-of-your-portfolio-in-stocks/

Raises for me, but not for thee: https://www.mediaite.com/news/reporter-confronts-gm-ceo-about-her-growing-30-million-salary-why-should-your-workers-not-get-the-same-pay-increases/

This is 'avocado toast' guy, now saying we need unemployment to increase by 40-50% (in Australia, it's currently 3.7%; so he's calling for that figure to increase to about 5.2-5.5%) to remind people that employers are the ones calling the shots: 

• And it's very interesting to note how he got his money: https://www.afr.com/rear-window/gurner-got-his-start-with-loans-from-his-boss-grandfather-20230913-p5e48z

Another good one from Ben Carlson: https://awealthofcommonsense.com/2023/11/we-dont-understand-how-inflation-works/

Pathfinders

 Big news!

One of my blog posts has been chosen for the new JL Collins book, Pathfinders.

If you decide to use this Amazon link to purchase the book, I may get a small commission at no cost to you. It's a way to support this blog while educating yourself on how many others have handled their money, in both good ways and bad!

I'm excited for this opportunity to get my story out there, and potentially reach new audiences. It's also gratifying to see that an editorial team saw fit to put my words into their book! Good motivation to keep me writing :)

The publisher, Harriman House, shipped me an advance copy of the book as a thanks for using my writing (they didn't pay me any money for the rights to my writing, so in effect, I suppose the copy of the book is the payment).

Naturally, to fit the length requirements, I had to edit my blog post down a bit, so I can't recall exactly how much I cut out or rephrased myself, and how much was done by the editorial team. But if they did make any changes, they were subtle and well-done, because the segment does sound like my writing style.

So thanks to the Godfather of FI for including me in his latest book!

Now that I'm in it, guess I'll have to put this on the list of the money books you must read! ;)

Pathfinders is on sale now (released October 31, 2023).

Best Value Laptops 2023

 Best Value Laptops 2023

Hi everyone, it's that time again! Here's my roundup of the best value-oriented laptops, by manufacturers with good reputations for quality and reliability.

As usual, I focus mainly on the lower end of the market, with students and bloggers in mind. Also, please note that if you choose to click my links and then you buy something, I may get a small commission at no cost to you.

Lenovo IdeaPad, $370: https://amzn.to/44MO2PA

Lenovo appears to be the king of deals right now!

Even though the processor in this laptop isn't the strongest [nor that weak, for most uses], the SSD and 12GB of RAM should make up for it in everyday usage. If I needed a new laptop, this would definitely be in the running.

However, if you're planning to use this for processor-intensive tasks like compiling code, this may not be powerful enough for your needs.

Key specs: AMD Athlon Silver 3050U, 12 GB RAM, 512 GB solid-state drive, 15.6" screen

Lenovo IdeaPad 3i, $310: https://amzn.to/3OdfBuf

Good entry-level option for someone who needs a basic, lightweight laptop. At $310, that's a deal! Even at $350, that's still a really good price. I'm personally not fond of the lack of a separate number pad, but not everybody needs one.

Key specs: Intel i3-1115G4 processor, 12 GB RAM, 256 GB solid-state drive, 14" Full-HD screen

ASUS Vivobook 15, $600: https://amzn.to/3OipnLA

Need something bigger or more capable than the Lenovo above? Here's a good option, and one I'd strongly consider for myself. At $600, that's a fair price on a capable machine.

Key specs: Intel i5-1135G7, 8 GB RAM, 512 GB solid-state drive, 15.6" Full-HD screen

Lenovo IdeaPad 1i, $360: https://amzn.to/43MsFwq

Another good value play, although again, it's a 14-inch laptop and therefore does not have a separate number pad. Still, a good deal and lightweight, too.

Key specs: Intel i3-1215U, 8 GB RAM, 256 GB solid-state drive, 14" screen

ASUS VivoBook Go 15, $470: https://amzn.to/3OD0lZb

Solid price on a nicely-spec'ed new computer.

Key specs: AMD Ryzen 5 7520U, 8 GB RAM, 512 GB solid-state drive, 15.6" Full-HD screen

Update to add: ASUS VivoBook Go M515DA, $330: https://amzn.to/432o1Mb

Update (3/2/24) to add this one:

If you don't need a lot of storage, this is a great price on a well-built machine. The processor is okay but not overly strong, it has sufficient RAM and only 128 GB of hard-drive storage. 

I have long trusted ASUS machines, and they've mostly been pretty good to me. This is likely to be a reliable option, and a good choice for those who don't want to spend much on a laptop (either because they have a more capable desktop already, or because they don't plan to use a laptop often).

ASUS VivoBook 14 M413 (refurbished), $400 unavailable: https://amzn.to/3QmoMev

This is a solid entry-level option, especially for light users or students. Caveat emptor, though, quality depends on who refurbished this device and how knowledgeable that person is. I've had both good and bad experiences with refurbs.

Key specs: AMD Ryzen 5 3500U, 8 GB RAM, 256 GB solid-state drive, 14" Full HD screen

ASUS TUF F15, $700: https://amzn.to/3YcH3wK

Want to save some cash on a gaming laptop? Here's your solution: a well-reviewed device that's loved by users (77% five-star rating on almost 2000 Amazon reviews!) and plenty capable. The RTX 2050 is a solid graphics card, though you might have to fiddle with the settings to get things to run smoothly on a more graphics-intensive game. To ensure a game runs smoothly, I would use 1080p and wouldn't go higher than 1440p, since this laptop only has a 1080p screen anyway.

It doesn't have the very latest hardware, but if you want the absolute newest, you'll have to pay a premium for it. Might as well sacrifice some bragging rights in order to save the cash. There are other configurations available, but there's a large price jump involved for most of them. Need a deal? This is the one.

Key specs: Intel i5-11400H, 8 GB RAM, 512 GB solid-state drive, 15.6" Full-HD screen, nVidia GeForce RTX 2050

Student Loans Aren't the Real Issue

 Student Loan Forgiveness is Not the Issue

Today, student loan forgiveness is a political hot-button topic. Wade into the morass of comments on articles like this one if you don't believe me.

But that’s not the actual issue. Student loans aren’t the root cause of the economic malaise in which many young people are ensnared.

Rather, student loans are a symptom.

So what is the core issue, then?

Links for July 2023

 Links for July 2023

Happy Financial Independence! Here are some great links I've collected recently:

This is a fantastic breakdown! I'm not usually a fan of infographics, but this one is supremely well-done! https://www.visualcapitalist.com/chart-assets-make-wealth/

https://spintwig.com/fire-taxes/

A great reminder to consider before you invest: https://noahpinion.substack.com/p/on-bullshit-in-investing

This will make you think: https://thereformedbroker.com/2022/10/02/you-werent-supposed-to-see-that/

https://retireearlyhomepage.com/careeradv.html

http://www.realworlddivorce.com/Ohio

https://web.archive.org/web/20220717095628/https:/truecostofhealthcare.org/medicare-supplemental-insurance/

https://retireearlyhomepage.com/medicare2022.html

Vanguard is usually trotted out as the best possible brokerage firm. But are top management's interests really aligned with their fundholders? Note: this article is from 2002
https://www.forbes.com/forbes/2002/1028/058.html?sh=5d0cc9bf135b

I'm sure that John Bogle would have something to say about that if he were still alive...