Category: Retirement Planning
5 Steps to (Financially) Running a Household
Today I want to lay out everything I know about running a household. I will focus on the finance aspect of household operations, as my lovely wife Kristina runs the personnel side of the house. So, what are my qualifications to speak about running a household? My wife and I have been married for 15…
Net Worth vs. Passive Income
Everyone is fascinated by someone’s net worth because most people use it to define wealth. Net worth is simple to determine, but it’s hard to figure out its value. Saying you are worth a certain amount of money doesn’t mean you are necessarily rich. Net worth is a by-product of static wealth. Passive income is…
Your Income Should Increase Every Year
Being an employee has many perks, like not worrying about anyone other than yourself. People become used to life as an employee, often choosing this over starting a business or creating content. But three things being an employee strips you off: freedom of time, money, and location. Today, I will talk specifically about freedom of…
HOW to Use Credit Cards
I just finished an article where I asked you NOT to use credit cards unless you were debt-free and had multiple income streams. Today, I present the counterargument to using credit cards. Please read “When NOT to Use Credit Cards” first. Credit cards can be a boon to your financial success if used properly. They…
When NOT to Use Credit Cards
Credit cards can actually be of great use in our wealth-building journey; if we use them correctly. However, before we can effectively use credit cards, we need to establish control of our finances and create passive income. Typical use of credit cards. In America, the common use of credit cards is buying liabilities that we…
Merry Debt-Free Christmas
How’s your holiday season going? Hopefully well. How about your finances? Again, hopefully well. If you are already debt-free, then I have some guidance for you on that front. If you are eager to reach that zero balance, this is the article for you. It’s hard to fully appreciate the finer things in life when…
Living Overseas Passively 107: Cryptocurrencies
Retiring overseas on cryptocurrency income will be very interesting because crypto has only been around for 10-12 years. We have no idea how crypto will fare over the next 20 years, so all we can do is hazard a guess. If I had to guess, crypto would be even stronger tomorrow than it is today.…
Inflation vs. Passive Income 2: 5 Steps to Beat Inflation
Inflation is upon us. We are entering an inflationary time that the US hasn’t seen since the 1970s. We need to understand what inflation is and how we can combat it with sources of passive income. Luckily, I have been writing about inflation for the last 6-8 months, so I have some prior works you…
The Average Millionaire has 7 Streams of Income
The average millionaire has seven streams of income—how many do you have? My wife and I will reach $1 million in our dividend portfolio in roughly five more years. However, we are not obsessed with becoming millionaires. You see, we are just following the steps that I laid out in my book “4 Steps to…
Choose Your Passive Income Adventure 2
Life offers us many choices—some are hard, some are easy. Finding the right person to marry is a difficult decision. Deciding what house to buy can be more manageable—trying to determine what passive income stream to build is tricky. We should all know that we need passive income in our lives. There is no other…
How to Create Passive Income 104: For The Average Person
Passive Income is a word that most average people are not familiar with in America and other countries. It’s not our fault because our parents taught us to “work for money.” Indeed, our parents, education system, and society taught us how to become great employees. The problem with being a good employee is we start…
How to Create Passive Income 103: For Advanced
There is a vast world of passive income, and now we are traveling deeper into the abyss. If you haven’t already, please read the first articles in the How to Create Passive Income series here (101, 102). Let’s jump right into the mix. Advanced Investing. Building wealth over time in the stock market doesn’t take…
How to Create Passive Income 102: For Intermediates
Today, we are going to get into some more advanced topics concerning passive income. If you haven’t read “How to Create Passive Income 101: For Beginners,” please do so before reading further. I am jumping right into the fire. Intermediate Investing. Last time we talked about building a dividend growth portfolio. I love DGI portfolios,…
How to Create Passive Income 101: For Beginners
Are you new to the world of passive income? I’m sure you have heard all the talk about how cool it is to have passive income flowing while you sleep. You probably haven’t heard how difficult it is to start building streams of passive income, right? When I say difficult, I don’t mean complex. I…
From $28/mo to $700/mo in Passive Income in 2 Years
What a difference a year makes. How about two years? We started our journey on the path to financial independence in June 2019, roughly 27 months ago. In October 2021, my wife and I reached $700 from various passive income sources. This is an incredible number, especially since it doesn’t include the rental income from…
5 Takeaways from “An Expat’s Experiences of Living in Turkey”
“An Expat’s Experiences of Living in Turkey” by Colin Guest is an extraordinary true story of love and loss. I’ve been writing articles about moving overseas and living on passive income, and I needed more details of the expatriate experience. This book is precisely what I was looking to find. My wife’s sister lives in…
How to Retire in California
Sometimes we ask to achieve difficult things in life—it’s human nature. We could be living somewhere perfectly affordable, but then we ask for the near-impossible. Don’t worry; I’m not mad at you. I wrote an exquisite collection of articles called the Living Overseas Passively 101 series, where I give suggestions on how to move somewhere…
How Would You Spend $5,000?
Today is your lucky day because you just won $5,000 in a raffle at work. Wow! What a fantastic feeling to get this much money free of charge. Now comes the tricky question—what do you do with the cash? I wrote an article a couple of months ago titled “How Would You Invest $300,000?” which…
Living Overseas Passively 106: Royalty Income
The next stop on our journey may be the most difficult because royalties are not known to produce consistent income. In conjunction with our other sources of passive income, they will be a great supplement. But the fun of this exercise is building our models only using royalty income. Welcome back to the Living Overseas…
We Make $650/Month in Passive Income
Things are starting to heat up, and the money is beginning to become real. Last month, which was September 2021, my wife and I crossed a new milestone. We made $650 in passive income this month. Why is that number so impressive to us? First, it doesn’t include money from rental income. As I wrote…
