Wallet Hacks

1 month ago | wallethacks.com | Jim Wang

This is how the travel hacking world works in a nutshell:Get a credit card with a huge welcome bonusScour reward ticket calendars for amazing deals, which are often last minuteTake advatange of transfer bonuses to get extra pointsAnd the hard part of all this, beyond the spending, is that it requires a lot of work. Or you pay for a service to help you find it.

1 month ago | wallethacks.com | Jim Wang

It's easy to tell people that they shouldn't react emotionally when they're investing. Don't sell when you're scared and don't buy when you're excited. Leave the emotion out of it. And I've written those same things over and over again because it's good advice. But knowing not to do something logically is not the same as knowing it when you're in the emotional soup that is daily life. One of my biggest investing mistakes was doing just that – reacting emotionally.

1 month ago | wallethacks.com | Jim Wang

Over the weekend, Warren Buffett announced that he was going to retire at the end of this year. After 60+ years of running Berkshire Hathaway, Buffett told everyone at the annual shareholder’s meeting that he was to retire at the end of the year and that Vice Chairman Greg Abel should take his place. Warren Buffett is 94 years old. Like many, I’ve been a fan of Warren Buffett for decades and have read the opening pages of his annual shareholder letters for just as long.

2 months ago | wallethacks.com | Jim Wang

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2 months ago | wallethacks.com | Jim Wang

Derek Sivers famously once said “If [more] information was the answer, then we’d all be billionaires with perfect abs.”But that’s not human beings work. It’s usually not about information but human behavior. And our lizard brains, as much as we don’t like to admit it, are in control. And that’s the big reason why financial advisors are able to charge a percentage of assets under management. If we know that 1% is too much to pay someone to manage our investments, why do so many people do it?