In this particular article, I was indeed evaluating the Whole Life policy as an investment tool. As I said in the article, I was interested to see if using the Whole Life policy as a hedge against market down turns would end up with more money. To keep all things equal, I made the assumption of "forfeiting the death benefit".

I agree that if you have a significant cash value in a Whole Life policy and your dividends can sustain the policy payments, it's probably best to keep the policy in effect.

But with the estimates I was provided, it…


I’ve written a lot on how to save money. After all, in order to build wealth you have to spend less than you earn and invest the rest. But often times, as we progress in our careers our expenses rise with our incomes. This is a phenomenon known as lifestyle inflation. Check out my most recent article for more details on lifestyle inflation.

So how do you avoid spending more as you make more? Below are 3 ways to help you keep your costs in check.

Know your costs

When I was in college, one of my professors said “You can’t improve what…


I want you to do a thought experiment with me. Imagine you’ve entered a race. You can’t leave the race until you finish it and the course is 500 miles long. It’s going to take you at least a few weeks since you’ll be starting on foot. It doesn’t matter if you finish first or last, as long as you finish you get a prize.

Since the race is going to take so long and you can’t leave until you’re finished, there are various food and supply vendors for you all along the course. …


I have a secret to share with you. I’m part of a group of people all over the world using this secret and I’m going to let you in on it. People outside of our group might think we’re a little weird but if you wholeheartedly join us, I guarantee it’ll change your life.

Let me introduce you to FIRE.

FIRE

Oxford dictionary defines a cult as “a relatively small group of people having religious beliefs or practices regarded by others as strange.” Using that definition, we kind of are a cult (minus the religious beliefs). …


I’ve taken up the habit of listening to audio books during my commutes and morning walks with my dog. It’s been a great way for me to be productive and continue to learn outside of my full time job. If you’re looking for an easy way to learn more, I highly recommend audio books.

Anyway, I’ve been focusing on personal finance books and one of the major themes is that getting rich isn’t about how much you make. It’s about how much you save. Or, put another way, how little you spend.

Real Life Millionaires

If you had the money, why wouldn’t you…


This past June, Kelsey’s sister, Kacey, gave birth to John Louis III A.K.A. JJ. Although I already have four nieces and nephews, he is Kelsey’s first nephew and we were so excited to meet him! I started thinking about how he’s going to grow up and what I could do to help him succeed. One of the biggest struggles for anyone with children is how to pay for education. In celebration of his birth, let’s see what the best way to save for his future would be.

529 Plans

Up to this point, I’ve written mostly about retirement savings. One of the…


Last time, I took a look at what life insurance is, the different options available, and what makes sense. After doing the math, I found that paying for term life insurance and investing the difference provides a much larger nest egg in retirement than whole life insurance could. So as I said at the end of the article, I called my insurance company to tell them I was cancelling my whole life policy.

As expected, my insurance agent tried to get me to keep my policy. But I was steadfast in my conviction to cancel and make the most of…


As I’ve continued to write about finance, I’ve put even more effort into my own personal finances. One of the areas that I’ve been neglecting is our insurance setup. We currently have whole life insurance for both Kelsey and myself. Our whole life insurance was always something that I wasn’t quite sure we needed but I never sat down to actually do the research until now. Boy, am I glad I did.

Life Insurance Basics

First, let’s talk about what life insurance is and what kinds are out there.

Life insurance is essentially money to be paid if you were to pass away…


I recently started working out again. Back in high school and college, I was pretty athletic. I ran track and played soccer in high school. During college, I got involved with Parkour and was working out for 2 hours a day, 4 days a week.

After I graduated though, that stopped. I didn’t work out and I could feel my body suffering because of it. Now, not all of my workout habits disappeared. I continue to take the stairs when at all possible. I still have better posture and am more conscious of the foods that I eat. …


After my last article on traditional and Roth IRAs, one of my friends asked me what I thought about the traditional 401(k) compared to the Roth 401(k) options. At that point, I wasn’t as familiar with what a Roth 401(k) was but I was vaguely aware that it works similarly to how Roth IRAs work. I decided to do some research.

Roth 401(k)s

401(k)s are employer-sponsored retirement plans. Like IRAs, they can be used to put money away for retirement in tax-advantaged accounts. Traditional 401(k)s are funded with pre-tax dollars, meaning you get a tax break in the same year that you…

Quan Truong

Eternally striving to live the best life possible

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