I LIVE IN CENTRAL New Jersey. Within walking distance of my house are some McMansions—huge homes clustered together in new developments. I look at them and think, “Who cleans these things?”
I live in a three-bedroom ranch-style house with an unfinished basement and a two-car garage. My garage is filled with two cars and my tools. The basement is filled with my wife’s stuff. We bought the house when my wife was pregnant. Thirty-three years later,

HAVE YOU HEARD THE parable of the white elephant? In southeast Asia, possessing a white elephant was symbolic of power and prestige. It was a good omen to find one in the wild, signifying peace and prosperity for the kingdom. They were considered sacred and could not be used in war or for labor. To receive a white elephant from the king was a great honor. Who would turn down such a special and unique gift?

THE MOST FRUGAL person I’ve ever known was my Great Aunt Beatrice. To all the family, she was just Aunt Bea. Never married, she was the sister of my paternal grandfather, a man who passed away 14 years before I was born. She was a dignified lady, proper and pleasant, and not given to bursts of laughter. Still, I felt closer to her than to any of my living grandparents or other relatives from that generation.

WHEN I WAS IN COLLEGE, working toward a bachelor’s degree in music education, a friend’s dad told me about Vanguard Group. I’d never heard of Vanguard, and I had no idea what a mutual fund was.
I did some research on the firm and its founder, John Bogle, and read his book Bogle on Mutual Funds. Soon after, at age 19, I opened an IRA at Vanguard and thereafter contributed the maximum allowed every year.

MY FIRST PET WAS a timid pup called Precious, a moniker inspired by the cartoon character of the same name. My four-year-old self felt an affinity for the runt of the litter, so I quickly picked him out. That sweet, little dog had a nature true to his name. I don’t remember his fate but, in those days, pets ranged free in our little town, and I fear he may have met with some mishap.

WITH DECEMBER FAST approaching, it’s a good time to think about end-of-the-year financial planning. What steps might you take?
A popular strategy is to make charitable gifts, both to support good causes and reap a tax benefit. But before you start writing checks, take a moment to better understand your tax picture. Because of the complexity of tax forms, that’s often easier said than done. Still, you don’t need to decipher every number. Instead,

I HAD MY SIGHTS SET on retiring at age 59. Not exactly FIRE—financial independence-retire early—but certainly a bit earlier than my peers, close friends and family. I wanted to seek new challenges after spending more than 25 years in academic research. Our financial plan was solid. My wife and I calculated we’d have more than enough retirement income.
But my plans were upended, first by the COVID-19 pandemic and then by two life-threatening health issues.

WE FLEW BACK TO the U.S. last week from Madrid, and were reunited with our car of 12 years. After selling our house in late 2022 and going nomadic, we had headed to Europe six months ago, opting to have our 2008 Lexus SUV professionally stored.
In an earlier article, I recounted the thought process behind this decision. Suffice it to say, we chose this option largely because we had no firm plans for when we’d need our car again,

AN UNPLEASANT PRICE shock awaits those who grew up in a low-cost-of-living nation and then relocate to a high-cost country. Coming from India, I experienced it firsthand, as I routinely converted prices into Indian rupees and compared them to the cost of similar items back home. In my initial years abroad, this made it challenging to open my wallet. Everything appeared overpriced.
It took time to come to terms with the fact that, despite higher living costs,

THERE ARE CERTAIN expressions I’ve heard during my lifetime which, for one reason or another, have stayed with me. In a previous article, I related how a coworker encouraged me to “keep on keeping on” when confronted with a challenge, and how Napoleon Hill’s expression “burning desire” struck me as a great way to describe a goal worth seeking.
Here’s another expression I’ve never forgotten: “The other side sucks.”
I’ve been a race car fan ever since my older brother introduced me to automobile racing in my youth.

ARE WE ANY GOOD at correctly analyzing simple financial situations involving probabilities? Kenyon, my brother and fellow HumbleDollar contributor, introduced me to a 2016 study that suggests that many of us are shockingly poor at doing so.
Sixty-one business students and young professionals at financial firms were presented with the following scenario: At a website, you’ll be given $25 and allowed to bet on a computer-generated coin flip. You may bet on either heads or tails.

I HAVE LONG ADMIRED my grandfather, John H. Watson, for chronicling the contributions to criminology made by his close friend, Sherlock Holmes, Esq. Since retiring from my psychiatry practice, I have similarly had the pleasure, if not the duty, to record the efforts of his grandson Sherwood to expose wrongdoing in the financial industry.
The more informed among you are no doubt familiar with my latest study, The Disappearance of the Load Fund.

I SAID GOODBYE TO my career in the retail industry nearly five years ago, at age 39. I’d had my eye on early retirement as soon as I entered the workforce.
My first job out of college was with an upstart retailer, where I worked 80-hour weeks for many years as I sought to improve my skills, knowledge and reputation. I did well, earned multiple promotions, and had high hopes for a life-changing payout from the company’s planned initial stock offering.

I USED TO GET PARADE magazine with the Sunday newspaper. On Sept. 28, 1997, it published an article by Andrew Tobias entitled, “Want to Amass a Fortune? No Problem!” I tore out the article and filed it away with others I’ve kept, because I thought Tobias made some points that would be worth periodically revisiting.
Early in the article, Tobias—who’s perhaps best known as the author of The Only Investment Guide You’ll Ever Need—addresses the question in the title.

I LIKE TO THINK OF myself as frugal, not cheap. The difference between these two is admittedly subtle—and, indeed, my wife insists that I straddle the line between them.
That brings me to my lifelong do-it-yourself approach to all things home-related. I abhor paying for services that I can do myself. But sometimes, I wish I were a little less frugal.
When we first moved to Texas, I tried saving money by doing my own yard work.