2015 - Page 3 of 4 - The Art of Thinking SMART

The True Purpose of Investing: Creating Income for Life

June 23, 2015
David S. Chang

When I ask people what they are investing for, I often get answers such as “growth” “high returns” or “to make money.” I rarely hear the right answer, which is: Income! During the 2008 financial crisis there were many people that had quite a bit of assets (namely in real estate) but couldn’t pay their […]

June 18, 2015
David S. Chang

The famous phrase “A penny saved is a penny earned” is attributed to Benjamin Franklin. A version of it does appear in his 1737 book Poor Richard’s Almanack, but it actually first appeared about 100 years earlier in a book called Outlandish Proverbs by George Herbert. Regardless of who said it first, wise people have […]

June 16, 2015
David S. Chang

Life is full of regrets. One of the most common phrases I hear is “if only” followed by what they wish they did or didn’t do. Most of the time it’s not investing early enough or making a bad investment decision. Successful people are no different. They too have made mistakes or decisions when it […]

Use This Simple Mental Trick To Save More Money

May 22, 2015
David S. Chang

Americans like to spend. Nearly half of us are saving no more than 5 percent of our incomes, while 18 percent are saving nothing at all, according to a new report. The average American family savings account balance is $3,950, 40% of working Americans are not saving at all for retirement and 25% have no […]

May 10, 2015
David S. Chang

You’re a travel enthusiast who’s fond of exploring the world at the best levels. Now that you’ve covered some small countries, you look forward to Great Britain as your next travel destination. A great choice, folks. Great Britain is a popular tourist and immigration destination. The country has a lot to see. You’re all packed […]

March 28, 2015
David S. Chang

Life expectancy is increasing, but as a result many people are living longer in poor health. Coupled with rising medical costs and the potential cutbacks on programs like Medicaid, it is extremely important that everyone, especially those in their 50s, begin to address the major components of long-term care (LTC). In this article and video […]

March 26, 2015
David S. Chang

Activities of Daily Living (ADLs)The “activities of daily living,” or ADLs, are the basic tasks of everyday life, such as bathing, continence, dressing, eating, toileting, and transferring (such as moving from bed to wheelchair). Long-term care provides assistance for the these tasks to maintain quality of life. Adult Day ServicesAdult Day Services are designed especially […]

March 25, 2015
David S. Chang

With the average life expectancy of Americans at 77.8 years, the likelihood that we will need long-term care (LTC) has increased dramatically. In fact, more than half of us will spend part of our lives in situations that require some sort of LTC. Americans who reach age 65 will have a 70 percent chance of […]

Should You Do Your Own Taxes?

March 20, 2015
David S. Chang

[tp widget=”select2/tpw_select2.php”] By now, most of you should have received your 1099s or W2s from your employer to start your taxes. According to a recent survey, 49 percent of respondents said they would pay someone to do their taxes, 38 percent would do it themselves with tax preparation software, 10 percent would do it themselves […]

20 Things and Habits the Rich Do Every Day

March 16, 2015
David S. Chang

[tp widget=”select2/tpw_select2.php”] In previous articles I have talked about how almost 95% of the decisions we make everyday are habits, not conscious choices. This is why our habits largely dictate our level of success in life. Here is one habit that separates the rich from the poor. We all want to have more money, get to our […]