A few dumb ideas I've seen: A House is a Liability The next time the CPAs I work with need a good laugh, I should bring this up. Houses are assets (they can be sold for cash), mortgages are liabilities, and repairs and maintenance are expenses. These are important differences if you're trying to put together some personal financial statements to see how you're doing. How to Succeed without Really Trying No, this can actually make you poor. A coworker and I figured what this advice would cost us--to eat out, hire a cleaning service, hire someone to mow the lawn, and hire out every little repair on the house. I came up with $13,000; she came up with $17,000. That's just for one person for one year. The long-term cost of fluffing off your chores: let's assume $15,000 per year to start. Invested in the stock market at 8% per year, that adds up to $1.76 million in 30 years. Even if you're spending your time reading, meditating, and writin
I got a lovely housewarming gift from my parents: a pot that cooks entire meals in minutes instead of hours. It saves time, it saves energy, doesn't heat up the whole kitchen in the summer, and it's perfect for someone like me with no patience. It was kind of neat being the only person I knew, besides, my mother, who used one. But I wondered why more people didn't use one--that pot was (and is) great, even after over 20 years' use. Of course I'm talking about a pressure cooker. Evidently, they needed more doo-dads and a new name (Instant Pot) to become popular again. And popular they are, even though they're two to three times the price, or more, of a plain old pressure cooker and they take up counter space. Instant pots also function as slow cookers and warmers, but it's the instant part that's appealing to people. If what you want is a pot that will cook your food in a jiffy, a pressure cooker will work. Put it on the stove, add your food with su
I used to like Reason magazine. It was a watchdog for government overreach like eminent domain abuse (think forcing out homeowners to build a shopping center) and government silliness (like cities disallowing cucumber plants in the front yard). Even the comments were clever. Then they started harping on pot, hookers and Bitcoin a few years ago. OK, you can make a case against the drug war, but hookers and Bitcoin are (I hope) rather fringe issues that aren't going to ensnare ordinary Americans going about their lawful business in a web of fines and legal proceedings. Lately, though, they've followed other media lemmings into the Sea of Perpetual Outrage. Progressive outlets see Nazis everywhere; conservative outlets see murdered babies everywhere; Reason wants anarchy for all. Maybe this makes sense when you constantly report about police officers who shoot family dogs. (Of course, Reason didn't cover this one or this one .) Living in Indianapolis, where quite a
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