Many of us use OPM on a daily basis without even realizing it. For instance, each time you go to the store and use your credit card to make a purchase, you are using OPM. When you lease or finance your car, you are using OPM. When you take a mortgage to purchase your…

What Is Estate Planning? Estate Planning is the process of determining the distribution of your assets upon your death. But proper estate planning also covers the management of your personal affairs in the event of your incapacitation. Only a few people think about…

Benjamin Franklin said the two things that are most certain in life are death and paying taxes. Everyone must die one day, and everyone who earns money must pay taxes. You don’t have to be a tax expert to know how to reduce the amount of taxes you pay to keep more…

Many of us have heard the saying, “Time is money”. But most of us just accepted it and have never really reflected on the meaning of the statement and its truthfulness. The statement “Time is money” can be explained using multiple scenarios in different contexts, but…

What Is Dollar-Cost Averaging? Dollar Cost Averaging is a strategy that is used to systematically purchase an amount of stocks or shares of securities products, such as a mutual fund or a portfolio fund, to offset investment risk in a market that is fluctuating. Put…

What Does “Bank on Yourself ” Mean? In the book Bank On Yourself by Pamela Yellen, she explains the “Bank On Yourself” concept as buying a whole life insurance policy on yourself, funding the insurance cash value using paid up additions (overfunding the cash value),…