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Profitable Ideas: Millionaire Regrets, Avoiding a Guaranteed Way to Overspend, and More

Weekly roundup of some of the best personal finance articles from around the web.

The five biggest millionaire regrets (ESI Money). When people look back on a long life or the accomplishment of a goal, their insights can help those who are still on the journey.

4 reasons parents don’t discuss money (and why they should) (NY Times). Families that had preserved their wealth past the third generation “talked early and often about it with their children.”

Doing this one thing almost guarantees you’ll spend more money than you want to (CNBC). Parents profit when screen time is reduced — their own screen time, that is.

Are you taking the false first step (Break the Twitch). You can’t buy the accomplishment of your goals.

Why you need a home fix-it fund (Clark Howard). I recommend allocating even more for home maintenance and repairs—at least $200 per month. 

Feeling the burn rate (The Simple Dollar). …and the importance of keeping your burn rate low.

Unexpected benefits of downsizing your home to save money (Educator FI). It’s a big, expensive, inconvenient step, but it sure can pay off.

Don’t assume the default 401(k) contribution is enough (Life Hacker). Automation can be helpful, but this article highlights one of its more important dangers.

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