Posts filtered by tags: Financial Independence[x]


 

Starting Your Kids on a Financial Independence Path

Everyone is a product of where they focus their time and energy, right? As you can tell from this blog, much of my focus is on personal finance, especially financial independence. In my personal life, much of my focus is parenting two boys, ages 5 and 6. Getting them started on a path of financial independence is inevitable. Given their age, we are working with simple things like chore charts and saving money for special toys. One of my biggest concerns is the changes in the world. When I g...
Tags: Real Estate, Kids, Parenting, Marketing, Financial Independence, Teen Titans Go, Education Education, Right Grocery Store Being


How I Increased My Net Worth by $27,000 in Six Months

According to You Need a Budget (YNAB), my total net worth is currently $108,940.66.Read more...
Tags: Freelancing, Personal Finance, Savings, Budgeting, Income, Lifehacks, Financial Independence, Net Worth, Budget YNAB


How to Tell if Your 'Passive Income' Is Actually a Second Job

If you’re currently trying to set up a passive income stream—because you’re working towards financial independence, chasing that 4-hour workweek, or simply hoping to earn a little extra cash—you’ve probably figured out that earning passive income takes a lot of work.Read more...
Tags: Small Business, Sales, Lifehacks, Financial Independence, Passive Income


Want to Become a 'Super Saver?' Consider Your Housing Costs

What’s the one thing that separates the “super savers” from those of us who are simply trying to save whatever we can?Read more...
Tags: Renting, Saving Money, Housing, Lifehacks, Financial Independence, Super Saver


Good books to help you stay the course to Financial Independence – and beyond

I t’s been nearly three years since I last talked about financial independence (FI). I’ve been keeping my head down because The Investor threatened to send the boys round to give me a lesson in volatility if I missed another Monevator: The Book deadline. I was three years into a ten-year FI journey and feeling the pain. The launch party excitement lay in the past. The reality had become an endless trudge through mental Siberia. Much has changed I passed the halfway point on my calendar in 20...
Tags: David Brooks, Savings, Marketing, Fire, Bank Of England, Spending, Siberia, Steven Pinker, Brooks, Marcus Aurelius, John Robbins, Frankl, Jonathan Haidt, Financial Independence, Monevation, Viktor Frankl


How Do I Escape my Father’s Influence?

From the U.S.: My father is the most critical and hypocritical person I’ve ever met.  Everything must be his way even if his way is stress-inducing.  He does everything for a reason, but no one else thinks.  Everyone makes his life harder, but he never causes problems.  Everyone else causes themselves problems, but his problems are worse.  No one appreciates him, but it’s justified that he does not appreciate anyone else.  Etc. Everyone- myself, sister, mother, relatives, friends, acquaintances,...
Tags: Psychology, Family, General, Father, Therapy, Criticism, Parenting & Children, Abuse, Rejection, Young Adult, Family Argument, Financial Independence, Toxic Family


How Do I Assist My Son in Changing Habits to Get Work Done?

Through the time he finished high school, my son was considered to be very bright. We have never had to help him with school work, he was often the source of help to his friends in math, science and computers. His teachers loved the way he participated in class. He did well enough to get into a very elite school. At this elite school, expectations are high. Through 2 1/2 years he folds whenever faced with hard work and has had to repeat courses. He was even placed on academic probation for sever...
Tags: Habits, Parenting & Children, Financial Independence, Tough Love, Habit Change


Junk Drawer Personal Finance #1

There’s a lot of things going on in the personal finance blogosphere. I know I can’t follow it all, so I’m guessing you (unless you are a blogger) probably can’t either. For one, I’m not sure if there is much of a personal finance blogosphere anymore or if it is just the same as the FIRE (Financial Independent/Retire Early) blogosphere. I suppose you could say that FIRE is a subset of personal finance. However, there are blogs that I think consider them FIRE who deal with getting out debt, in...
Tags: Marketing, Fire, Depression, Suze Orman, Medicare, Justin, Financial Independence, Tako, Paula Pant, Bon Bons


Suze Orman hates the FIRE movement. She hates it, she hates it, she hates it.

Yesterday, my pal Paula Pant published a podcast interview with financial guru Suze Orman. Based on reader requests, Paula asked what Suze thought of the FIRE movement. (For those unfamiliar, FIRE is a a term used to talk about folks who have achieved financial independence or retired early.) As it turns out, Suze Orman does not like the financial independence movement. In fact, she hates it. She hates it, she hates it, she hates it. Take a listen to this one-minute teaser: ...
Tags: Marketing, Fire, Suze Orman, Sites, Clearwater, Paula, Financial Independence, Gurus, Early Retirement, Suze, Paula Pant, Suze Orman Based, Instagram Ho Lee Moly Listen


Are we FIRE, leanFIRE, or FatFIRE?

I was talking with someone in the FIRE (Financial Independent, Retire Early) community recently and they asked if we were FIRE. I didn’t know how to respond. Is there a “kind of” FIRE? What do I mean by that? I’ll get to that in a bit, but first we have to come up with a definition of FIRE. What’s the Definition of FIRE? Unfortunately, there’s a lot of subjective grey area in both the terms “financial independent” and “retire early.” Let’s start with “financial independence.” The most com...
Tags: Marketing, Fire, Spain, Financial Independence


What early retirement was like in 1957 (according to Life magazine)

Sometimes I hit the jackpot in my quest to find old material about retirement and early retirement. Last week, for instance, I was reading Early Retirement Dude’s history of the financial independence movement when he mentioned a Life magazine photo essay about early retirement from February 1957. Say what? Within minutes, I was reading the article via Google Books. Within an hour, I had ordered not just that issue of Life but three others with retirement articles. Within days, the magazines wer...
Tags: Google, Books, Florida, Cook, California, Washington, Life, Retirement, Marketing, Oxford, Warren Buffett, New Mexico, Santa Fe, Pittsburgh, Life Magazine, Phoenix


The FIRE MarketWatch Article You Didn’t Read

A few weeks ago, there was a great MarketWatch article about retiring early: How much does financial independence cost? It depends on your retirement philosophy The article profiles four bloggers, two of which regular readers will recognize: Justin from Root of Good and Tanja from Our Next Life. I’m not as familiar with Jillian from Montana Money Adventure or J from Millennial Boss who were also highlighted. I was interviewed for the article. I couldn’t connect with a phone call as the author ...
Tags: Montana, New York City, Marketing, Los Angeles, Brian, Marketwatch, Justin, Jillian, Financial Independence, Tanja, Jillian Johnsrud, Millennnial Boss


Calculate Your Financial Inflection Point

There are tons of math rules of thumb when it comes to personal finance. There’s the rule of 69/70/72 which helps you calculate when investments will double. There’s the rule of 4% that is used to estimate financial independence. Few people write about one of the most important numbers*: Your Financial Inflection Point If you aren’t familiar with the term inflection point, I was able to find two definitions from Google’s Dictionary search: Math – A point of a curve at which a change in the d...
Tags: Google, Marketing, Mcdonalds, Financial Independence, Inflection Point


How to retire young

I am both a money nerd and a book nerd. Naturally, I get a little giddy when I find old books about money I’ve never heard of before. While browsing Oregon’s best used bookstore earlier this year, I stumbled on a 1989 book called How to Retire Young by Edward M. Tauber. Tauber retired at the age of 43 from a tenured full professorship as Professor of Marketing at the University of Southern California. He’s written a number of marketing textbooks, but this was his first (and only?) foray into the...
Tags: Books, Oregon, Retirement, Marketing, Social Security, Young, University Of Southern California, Tauber, Financial Independence, Early Retirement, Paul Terhorst, Retire Young, Edward M Tauber Tauber


The four-percent rule for safe withdrawals during retirement: Theory versus reality

Last week, I wrote about the problem with retirement spending: How much should you spend during retirement? If you spend too much, you run the risk of depleting your savings. But if you spend too little, you’re sacrificing the opportunity to make the most of your money, to “drink life to the lees”. One of the guiding principles in retirement planning is that there’s a “safe withdrawal rate”, a pace at which you can access your investments so that your nest egg will last for thirty years (or long...
Tags: Retirement, Marketing, Social Security, Ira, Kim, Irs, Mark, Kris, Financial Independence, IRA Roth IRA, Tanja, Early Retirement, William Bengen, 4% Rule


The Serenity of My FIRE Journey

Last week, I read Why FIRE Is Such a Compelling Story on RetireBy40. The article compares Joe’s journey to FIRE (Financial Independence / Retire Early) with the classical hero’s journey blueprint that underscores many successful stories. To explain it, he goes step by step through Christopher Vogler’s book The Writers Journey. He contrasts his FIRE journey with a movie about a motley crew of space travelers who overthrow an all-powerful oppressive regime. It’s an old movie, so I doubt you h...
Tags: Europe, Hbo, John Oliver, India, Marketing, San Francisco, Earth, River, Silicon Valley, Darth Vader, Road, Gizmodo, Miranda, East Coast, George Lucas, Ftc


Downsizing: The FIRE Movie That Wasn’t

I don’t typically get the time to watch too many movies. Well, with a 4 and 5 year old, I’m on top of most of the “G” rated ones. Last week, I made it a point to hit my local Redbox and catch a movie I had wanted to see since Christmas, Downsizing. After a discount code they texted me, I had to shell out a little more than 50 cents. I won’t blame you if missed the movie. We’re all busy around the holidays. In any case, here’s the trailer: In this fictional world, scientists create a way...
Tags: Matt Damon, Marketing, Nebraska, Kristen Wiig, Damon, Payne, Alexander Payne, Financial Independence, Jim Taylor, Downsizing, Kerri Kenney


The stages of financial freedom: The road to financial independence

Today we’re going to explore the six stages of financial freedom. First, though, I want to introduce you to my friends Mac and Pam. Pam is a pathologist and an elite ultra-runner. Mac is a former high-school science teacher and current stay-at-home dad. Together, they form a formidable financial team. They’re also a couple of nerds. I mean, look at them! Maybe because they’re such nerds, Mac and Pam have always put an emphasis on saving. But they don’t just pinch pennies. They’ve optimized thei...
Tags: Mac, Marketing, Portland, Save, Don, Pam, Financial Freedom, Financial Independence, Pam Pam, Oregon Health Science University Mac, Joshua Sheats, Independence Financial


Why are we surprised when would be early retirees have second thoughts?

A bit of a kerfuffle has broken out at Retirement Investing Today. Author RIT says he’s considering stretching the “one more year” he’s already taken to another year… or possibly even an indefinite leave of extension on his early retirement plans. In the first post, RIT revealed that: I was just recently contacted by a very senior person in my organisation who proceeded to p*ss in my pocket for half an hour about how much of a contribution I make, how much they value that contribution, how es...
Tags: UK, Retirement, Marketing, US, Fire, RIT, Financial Independence, Monevation, Money Mustache, Jacob Fisker, Workaholic Tim Ferris


The crossover point: How to know when you’ve achieved financial independence

Today I want to introduce you to the Crossover Point, that magical place where you have enough saved that you can live off your investment returns. To start, let’s talk about one of my money heroes, billionaire Warren Buffett. Buffett wasn’t always a billionaire. He started from scratch, just like you and me. Here he is in 1948 — when he had less than $10,000 to his name: What a dork! Buffett began making money when he was six years old. He’d buy packs of chewing gum for three cents each, then ...
Tags: New York, Marketing, Iowa, Warren, Omaha, Warren Buffett, Columbia University, Coca Cola, Save, Buffett, GEICO, Benjamin Graham, Schroeder, Financial Independence, Money Mustache, Joe Dominguez


Remember: Use Whatever Motivates You Financially

I’m at Disney World this week. As a result, today’s thought is going to be shorter than usual. I want to save the deeper articles for a time when I can go into them in detail. It turns out that when you pay a lot of money to go to Disney, the desire to spend that time blogging greatly wanes. I probably wouldn’t be publishing this if I had a normal amount of sleep or active brain cells. Before I get to the personal finance thought though, I feel like I need to get some stuff out there… perhap...
Tags: Australia, Marketing, Disney, America, Stephen Hawking, Vacation, Bill Belichick, Tom Brady, Stephen, Patriots, Disney World, Dion Lewis, Benny Hill, Financial Independence, Malcolm Butler Nate Solder Danny Amendola, Yay Jason McCourty


Money story: “I’m 21 and pursuing the path to financial independence.”

This guest post from Cody is part of the “money stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success — or failure. These stories feature folks from all stages of financial maturity. In January, I attended Camp FI in Florida. While most of the attendees were thirty- or forty-somethings pursuing early retirement, one young man stood out. We were all amazed at the presence of Cody Berman, a 21-year-old hustler ...
Tags: Florida, New York City, Time, Marketing, Ap, Millennials, Stories, Bentley, James, Jim Collins, Ruth, Cody, Lauren, University of Massachusetts Amherst, UMass Amherst, Bentley University


Book Review: Meet the Frugalwoods

There are a lot of great personal-finance books out there — here are a few of my favorites — but despite the diversity of titles (and subject matter), they all share a remarkably similar format. These books are money manuals in which the author shares prescriptive advice. They tell the reader how to get from point A to point B. From time to time, somebody will publish a book like David Chilton’s The Wealthy Barber, which provides financial advice in the guise of a story, but these attempts are v...
Tags: Books, Washington, Boston, New York City, Book Reviews, Marketing, Brooklyn, Kansas, Frugality, Vermont, Liz, Forbes, Babylon, 288, University of Kansas, Nate


What is financial independence? The basics of FI explained in plain English

Note: During the month of March, I’m migrating old Money Boss material to Get Rich Slowly — including the articles that describe the “Money Boss method”. This is the first of those articles. Nearly everyone I know wants to become financially independent, to retire early. But most folks have no idea how to do so. The method I describe in this article is simple to understand, although it might be tough to implement. I call it the “Money Boss method”. With the Money Boss method, you manage your per...
Tags: Retirement, Marketing, Questions, Don, Vanguard, Financial Independence, Early Retirement, Money Boss method


Defining retirement: What does it mean to be retired?

Welcome to “retirement month” at Get Rich Slowly. During the month of March, we’ll explore all sorts of topics related to retirement and financial independence. To start, let’s look at the defintion of retirement. What does it mean to be retired? This question probably seems silly to some of you. After all, isn’t there a dictionary definition of retirement? There is: “The action or fact of leaving one’s job and ceasing to work.” As is sometimes the case, however, the dictionary definition is les...
Tags: Retirement, Boston, Uncategorized, Marketing, Weiss, Financial Independence, Robert S Weiss


Money story: Our financial 180

This guest post from Joel is part of the “money stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success — or failure. These stories feature folks from all stages of financial maturity. Today, Joel shares how he and his wife made a “financial 180”, going from extreme spenders to extreme savers. Hi, I’m Joel! Last November, I quit my job as a software engineer to retire early at the ripe old age of thirty-three. I...
Tags: Amazon, Florida, Relationships, Marketing, Honda, Joel, Vanguard, Financial Independence, Early Retirement, Saving Rate, Money Stories, Reader Story, Turnarounds


Why FI in RI?

The question of where to retire once you reach financial independence has come up several times in the last month. It started about a month ago when my big sister in spirit sent me an email. I’ll call her Buffy in keeping with a longstanding tradition of naming anonymous people after Buffy the Vampire Slayer characters. Her family’s location in Silicon Valley is high cost of living… perhaps the highest in the country. If you aren’t working for Big Tech, it probably doesn’t make sense to live...
Tags: Florida, Texas, California, Oregon, Boston, Marketing, Atlantic, New Hampshire, Silicon Valley, Nice, Buffy, Rhode Island, Vermont, New England, Ocean State, Northern California


The Ultimate Guide to Financial Freedom

Financial Freedom makes me want to kiss my money. This article about financial freedom originally appeared in some form on my other website Be Better Now. I’m starting to come to grips with the fact that I can’t write about all topics. Plus, since I already have a website that covers money, it makes sense to have this article here. I’ll have a talk with Be Better Now about endorsing Lazy Man and Money as it’s money partner (a mirror will be predominantly involved). Many of the links will take...
Tags: Marketing, United States, Social Security, Guide, Beginner, Joe, Don, Ronco, Financial Independence, Better Now


ReAble Wallet App Launch- Financial Independence for the Neglected 3% Special Needs Community

Having the privilege of growing up with a special needs sibling, I have experienced the huge gap between his often mindblowing talents and the bottlenecks preventing him from realizing his full potential to develop into an integrated member of society. After meeting my Co-founder Paul who is legally blind and witnessing first hand how technology has granted him independence, my fear turned to inspiration and ReAble was born. ReAble is a global social enterprise whose mission is to provide univ...
Tags: Health, Blog, United States, Infertility, PAUL, Financial Independence, Autistic, ReAble Wallet, Special Needs Community, ReAble


How Many Days of Financial Freedom Have You Accrued?

Welcome to September! Wait, it’s already the 8th? I haven’t written an article this month yet? As my friend Martin from Studenomics always says, “No one wants to hear your excuses!” So I won’t tell you how me and the two toddlers have been passing a stomach bug back and forth. I also won’t mention that my wife’s been able to avoid it as she’s been traveling for work. Instead I could tell you about how we’ve been preparing for her to get deployed for Hurricane Irma. That’s not too exciting, ...
Tags: Marketing, Martin, Brandeis, Financial Freedom, Robert Kiyosaki, Susan Lucci, Financial Independence, Sam Beckett, Plutus, Kiyosaki, Water Damage, Blog of the Year, Idina Menzel Kristin Chenoweth, Joel Grey MyWifeTheBroadwayFan