A 529 is an educational savings plan operated by a state to help families save money for college expenses. Before digging into the pros and cons of a 529, I knew very little about this type of savings plan. My ultimate goal is to provide a reasonable sum of money for my children when they......
Thomas J. Stanley and William D. Danko wrote the book The Millionaire Next Door in 1996. Dr. Stanley conducted interviews with millionaires between 1982 and 1996 to understand the wealth building traits these people possess: discipline, sacrifice, and hard work. Over the next seven days, I will analyze each of the seven factors....
What is a health savings account (HSA) and why should you use it? A health savings account is a tax-exempt account to pay or reimburse certain medical expenses. I contribute to a health savings account because my employer only offers a high-deductible-health plan (HDHP), and this plan offers significant advantages to cover medical expenses versus......
Last year I tried to understand how all of this tax stuff worked, and I couldn’t determine why I couldn’t get the same number as my accountant when I calculated my tax liability. In this post, I will discuss how to calculate the taxes you owe, which is based on how you file and the......
I have struggled to determine which life insurance option is better:  permanent life insurance or term life insurance. I am constantly reading different blog posts and seeking advice from financial planners to determine which policy is best for my family. I recently finished the book Tax-Free Retirement by Patrick Kelly, which brought up some interesting points I want to......
  • Get your finances under control
Do you have your finances under control? In this post, I will review how you can get your finances under control. This may sound naïve but before I became interested in personal finance I didn’t recognize the amount of money from my paycheck each month that was going toward debt. I kept a simple Excel......
One decision you need to make when looking at life insurance to protect you and your family is choosing between permanent or term coverage. Each person’s situation is different. I will cover important aspects for each type of coverage to enable you to make the decision that is best for your situation....
Welcome to THEGROUNDEDENGINEER.COM! My name is Taylor:  Technical Sales Engineer by day, student of personal finance and entrepreneurship by night, and above all – family man that strives to provide the best for my family and friends. The purpose for creating this website is to write on areas I am passionate about:  personal finance, technology/entrepreneurship, and......