Pomodoro Technique

The Pomodoro Technique is a time management that uses a timer to break down work into intervals, traditionally 25 minutes in length, separated by short breaks. The method is based on the idea that frequent breaks can improve mental agility.

For many people, time is an enemy. We race against the clock to finish assignments and meet deadlines. The Pomodoro Technique teaches you to work with time, instead of struggling against it. A revolutionary time management system, it is at once deceptively simple to learn and life-changing to use. Link

Term Life Insurance

Anybody who has dependents (and is not independently wealthy enough to be self insured) should have life insurance.  In its simplest form, life insurance comes in two types; Term and Whole Life.

Think of Term as similar to car insurance. You pay an annual premium for a set term (years) and if you don’t die before the term expires (10, 20 or 30 years typically) you don’t get paid (i.e. the death benefit (e.g. $500k)).

Whole Life is a glorified savings account with much higher annual premiums (think 10x of term) and huge commissions/fees.  When you die (no matter whether it is 10 years or 60 years from now) you get the death benefit (e.g. $500k) which includes all of the money you have put in over the years.

A good approach is to buy a Term policy and invest the difference each year.  You’ll avoid the large fees and become self insured eventually.

A good explanation of term vs whole life can be found on Khan Academy here.  Take a look around Khan Academy – you can learn anything on that site in interesting, easy to follow videos.

Networthify

This is a great calculator showing you the impact of your savings rate and how many years until you are financially independent.  You can keep it simple and enter high level assumptions or go nuts and enter a bunch of details.  It is very eye opening. Link

Quote: “Never attribute to malice that which can be adequately explained by stupidity”