math

How much math skills do you need to be good with money?

Fear or distaste for math doesn’t need to prevent you from being good with money, because you don’t need that much in the way of math skills. … Read More

Is it really better to wait to claim Social Security until you turn 70?

I challenge the conventional wisdom that you should wait until age 70 to claim Social Security benefits in order to get the most out of it. According to US News, the average monthly Social Security benefit as of 2022 is … Read MoreRead More

How a children’s TV show taught me about compound interest

I discuss a skit from Square One Television involving a doubling allowance to show how our brains can’t grasp how compound interest works. There are some random things that stick in a kid’s brain. I remember a movie called The … Read MoreRead More

Queue ticket

How do you figure out how much money you need in retirement?

I had a little fun with our fictitious shopping trip on the luxury eBay. While I enjoy toys as much as anyone, I think the desire for ultra-rich luxuries seems less about desire for luxuries and more of a need … Read MoreRead More

72

Why I love the Rule of 72

WARNING: This post contains math. (But you knew this with a title like that.) How long will it take an investment to double? It’s a good question. And while doubling itself isn’t the most important aspect of an investment, it’s a … Read MoreRead More

Plant Spiral

Is there someone at the IRS who’s a math lover?

WARNING: This post contains math. I love math. You know this. I think math is one of our world’s ways of expressing beauty. To me, there are few things more pleasing to the eye than a elegant mathematical statement. (People … Read MoreRead More

Diving board

How to calculate your true account balance at the end of the month

WARNING: This post contains math. How much float do you need? Well, optimally you’d have enough float such that you could cover your entire month’s expenses on day 1, just to be safe. But in general you want to have … Read MoreRead More

15 ball

Why to use the 15% rule for saving for retirement

WARNING: This post contains math. Last time, when I talked about saving for retirement, I mentioned that I put away at least 15% of my income away in retirement. It occurred to me that some readers may feel like I’ve … Read MoreRead More

Man lying down

Just making sure: Mortgage interest isn’t a reason to hold on to a mortgage

WARNING: This post contains math. “When you have a mortgage, you get a tax deduction for all the mortgage interest you pay. So you shouldn’t pay down your mortgage early, because you’ll lose the tax deduction.” This is one of the … Read MoreRead More

Which is better, a tax credit or a tax deduction?

  WARNING: This post contains math. This is one of those posts that is a challenge to write. Since everyone is in different places and with different levels of financial literacy, I can’t expect everyone to have the same level … Read MoreRead More