Opinion
Shaun Melby, CFP®
You Are Not A Lottery Ticket

I recently finished “Zero to One” by Peter Thiel. I’m a few years late to it being released, but it has left quite an impact on my outlook. While the book delves into the mindset necessary to build a successful startup, there is one specific chapter in the book that struck a chord with me.

Chapter 6 is titled “You Are Not A Lottery Ticket” and the entire time I was reading it I could not stop thinking about how applicable this notion is to personal finances. I don’t want this post to turn into a full on book report, so I will briefly summarize what Peter states.

You Are Not A Lottery Ticket
Finance 101
Shaun Melby, CFP®
What A Stock Market Index Is And Why You Need ...

You may hear on the nightly news “The Dow was down 1.3% today” or “The NASDAQ was up 50 points today.” Have you ever wondered what they were talking about or what it meant? You are not alone in those thoughts.

What A Stock Market Index Is And Why You Need To Know
Finance 101
Shaun Melby, CFP®
Why Not Knowing Your Risk Tolerance Is One Of ...

Investing for first-time investors can be pretty overwhelming. There are so many variables out there and they can be pretty confusing. There are different retirement accounts, investment accounts, some account let you invest in different things, etc. But perhaps the most overlooked item is not knowing what your tolerance for risk is. And not only that, making sure your investments actually reflect how much risk you are willing to take on.

Why Not Knowing Your Risk Tolerance Is One Of The Biggest Investing Mistakes You Can Make
Sports & Entertainment
Shaun Melby, CFP®
I Wrote An eBook - Turning Your Music Hobby ...

Before starting Melby Wealth Management, I was a business manager for 10 years. I helped those in the entertainment industry do everything from paying their water bill to getting a mortgage to creating budgets for arena tours. I saw how an artist’s business impacts their personal life and how their personal life can impact their business. In those 10 years, I learned a thing or two on what works and what doesn’t. I wanted help put that knowledge into some sort of guide to help those artists who are starting out. They know where they want to go, but aren’t quite sure how to get there. This eBook is meant to help them out.

I Wrote An eBook - Turning Your Music Hobby Into A Music Business
Finance 101
Shaun Melby, CFP®
15-year mortgage vs. 30-year mortgage - How ...

The purchase of your home could easily be one of the largest transactions you will make in your life.  Buying a home can be an emotional process-- one where you are tempted to think more about what you want right now and therefore lose sight of what is best for you and your family in the long run.  The decision to choose a 15 year mortgage or a 30 year mortgage may end up affecting your personal finances more than any other decision you'll make. Unfortunately, many people don’t look much further than the larger monthly payment of the 15 year mortgage, so they instinctively choose the 30-year mortgage.  This is a decision that can cost them hundreds of thousands of dollars.

15-year mortgage vs. 30-year mortgage - How They Affect Your Bottom Line

You Are Not A Lottery Ticket

You Are Not A Lottery Ticket

I recently finished “Zero to One” by Peter Thiel. I’m a few years late to it being released, but it has left quite an impact on my outlook. While the book delves into the mindset necessary to build a successful startup, there is one specific chapter in the book that struck a chord with me.

Chapter 6 is titled “You Are Not A Lottery Ticket” and the entire time I was reading it I could not stop thinking about how applicable this notion is to personal finances. I don’t want this post to turn into a full on book report, so I will briefly summarize what Peter states.

Why Not Knowing Your Risk Tolerance Is One Of The Biggest Investing Mistakes You Can Make

Why Not Knowing Your Risk Tolerance Is One Of The Biggest Investing Mistakes You Can Make

Investing for first-time investors can be pretty overwhelming. There are so many variables out there and they can be pretty confusing. There are different retirement accounts, investment accounts, some account let you invest in different things, etc. But perhaps the most overlooked item is not knowing what your tolerance for risk is. And not only that, making sure your investments actually reflect how much risk you are willing to take on.

What Is The Difference Between A Stock And A Bond?

What Is The Difference Between A Stock And A Bond?

When it comes to your own personal finances there are no dumb questions; however, many people are intimidated by the industry jargon, or things they don’t know much about, and thus are very self-conscious to not ask questions for the fear they may come off as unintelligent. I’ve made it my mission to make my company as inviting as possible because I understand how complicated many of these topics can be. So, today’s post is about one of the fundamental building blocks for personal finance. To make this as simple as possible, this post is part dictionary, part examples. The concept is the difference between a stock and a bond.

I Wrote An eBook - Turning Your Music Hobby Into A Music Business

I Wrote An eBook - Turning Your Music Hobby Into A Music Business

Before starting Melby Wealth Management, I was a business manager for 10 years. I helped those in the entertainment industry do everything from paying their water bill to getting a mortgage to creating budgets for arena tours. I saw how an artist’s business impacts their personal life and how their personal life can impact their business. In those 10 years, I learned a thing or two on what works and what doesn’t. I wanted help put that knowledge into some sort of guide to help those artists who are starting out. They know where they want to go, but aren’t quite sure how to get there. This eBook is meant to help them out.

15-year mortgage vs. 30-year mortgage - How They Affect Your Bottom Line

15-year mortgage vs. 30-year mortgage - How They Affect Your Bottom Line

The purchase of your home could easily be one of the largest transactions you will make in your life.  Buying a home can be an emotional process-- one where you are tempted to think more about what you want right now and therefore lose sight of what is best for you and your family in the long run.  The decision to choose a 15 year mortgage or a 30 year mortgage may end up affecting your personal finances more than any other decision you'll make. Unfortunately, many people don’t look much further than the larger monthly payment of the 15 year mortgage, so they instinctively choose the 30-year mortgage.  This is a decision that can cost them hundreds of thousands of dollars.

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The Uber IPO – Should You Invest In Uber?

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The Uber IPO – Should You Invest In Uber?

As you likely have heard, Uber is having its IPO (Initial Public Offering) on Friday, May 10th in what is being hailed as the largest IPO in history. There is a ton of excitement and hype surrounding the IPO. It’s even likely that you have bought into some of this excitement. After all, you have probably used the service and heard of the people who are going to make a killing because they invested in Uber during the early stages. But is this something you should invest in?

What To Do With Your Old 401(k) When You Change Jobs

What To Do With Your Old 401(k) When You Change Jobs

One of the easiest things to overlook during changing of employers is what to do with your old 401(k). And sometimes you get another 401(k) when your company is acquired or merged with another company. And in today’s job market, it’s likely at some point in your working years you are going to have more than a single 401(k). It’s rare an employee spends their entire career at a single company anymore.

How Much Does An NFL Rookie Make After They Are Drafted?

How Much Does An NFL Rookie Make After They Are Drafted?

The 2019 NFL Draft is going to be in Nashville this year and I couldn’t be more excited.  The NFL Draft is one of my favorite sporting events.  I love seeing a team’s strategy play out like a real-life chess board and I love seeing player’s dreams come true even more.  What comes with these dreams is a contract and one that will pay out a lot of money.  For many of these players, they become instant millionaires.  But for others drafted in the later rounds, they won’t be instant millionaires.  They will earn a great income, but they are going to be fighting for a roster spot every year to do so.