Here are some of the best personal finance and fintech posts from July 2019.
Podcasts
Naval Ravikant – How To Get Rich
More insight here than you would expect from the simple yet achievable title! One you will likely want to listen to more than just once and might even suggest setting your calendar to listen to once per year!
Credit & Debt
10 Hard-To-Swallow Student Loan Debt Statistics – Millennial Money Man
No secret that college debt is out of control! We argue that a large reason college costs have become so out of control is because the federal government guarantees these loans and a higher interest rate and students are not allowed to offload this debt in bankruptcy. Therefore, if you are the colleges you are getting a guaranteed high rate of return with zero risk with every incentive to increase tuition so long as demand remains high. Therefore, the government should get out of this business. Until then – these statistics will, unfortunately, continue to climb.
Investing
Paradigm Shifts – Ray Dalio
Ray Dalio does a wonderful job explaining where he believes we currently sit in the economic cycle. (By the way, Ray also has a great video on how the economic machine works.) In short, he believes we are at the end of the current growth cycle and includes compelling data and arguments. His ultimate recommendation is to buy gold. Which, I can’t say I completely agree with. However, his analysis of where we currently sit is quite compelling.
Here is a highlight “Extended periods of cheap money resulting in debt levels never seen before, stock buybacks, M&A, private equity, and venture capital is partly the result of cheap money in a cash-flush system. That’s raised equity prices, hampered future returns, and made cash “nearly worthless.” Since the financial crisis, central banks have kept interest rates low to stoke risk-taking. That’s driven up corporate, government and personal debt.
Meanwhile, there is a “wave of liabilities,” including Medicare and Social Security payouts, about to smack the U.S.”
Another similar warning post comes from Fundrise with a similar analysis.
Opposite of Conventional Wisdom – The Irrelevant Investor
Great article backed by data on some unconventional investing wisdom.
Real Estate
Another Housing Update – I Am Now a Landlord! – My Journey To Millions
One of the more honest and likely most relevant takeaways from the post was…“Our first inclination was to put it on Zillow’s “Make me Move.” We didn’t get the traction or responses we thought. Side note: I don’t think the market is there yet, but realtors hear me now, this service and others like it are your future. Being a real estate agent in 2028 years is going to be the equivalent of a taxi driver in 2018” I agree, if you are in the field now is the time to think about how you might want to make a transition.
Miscellaneous Links I Liked
This Is What Death Cleaning Taught Me About Life – Becoming Minimalist
A topic that nearly nobody wants to talk about or face yet we all need to! In order to prepare be sure to check out the ultimate guide to estate planning in the digital age.
Safe Internet Browsing – Credit Donkey
Some great tips on how best to protect yourself online.
Cyber Security Statistics – Credit Donkey
A number of mind-blowing statistics on cybersecurity.
5 Bible Verses About Contentment – Debt Free Doctor
A wonderful article highlighting why it is so important to be content citing 5 Bible verses.
How to Financially Survive the First Year: Tips for Budgeting for a New Baby – Mint
With our first baby due to be born in the next few weeks, I was relieved to see that we have already completed all of the recommendations. A great list for anyone in similar shoes expecting their first baby!
To see previous months top picks click here.
