Category: Retirement Planning
Pay Off Debt or Start Investing?
What is the scariest movie that you have ever watched? Mine was the Grudge (2004). I ask this because I am about to ask you to do something that is even scarier than watching the movie you picked. And that is… to write down all your debt. Yikes. Before we get into the details, like…
My Retirement 4-50 Update #4
My retirement 4-50 plan is our goal to be work-optional by age 50. It consists of 4 retirement income blocks. Retirement 4-50 is based on cash flow. My goal is to have a total of $6,000 a month cash flowing from each block (total $24,000). The blocks are retirement income, investment income, rental income, and…
Taxes 101: Understand the 3 Types of Income
Uncle Sam wants his cut. Part of being a functioning member of society is paying our tax bills. Taxes are very important to the operation of a successful nation. That being said, we still want to ensure we legally pay the least amount of taxes that are required. Lowering our tax bills will require financial…
How We Built 13 Streams of Income
Relying solely on earned income is risky. In layman’s terms; living solely off the money from your job can be dangerous. It is risky because one stream of income can dry up very quickly, especially in a recession or downturn. During a recession, companies start to lose profits. Because of these losses, the companies will…
Is Doing 20+ Years in the Military Right for You?
Let me start by saying this: I believe every able-bodied young person in American should serve at least 4 years in the US Military. The tangibles and intangibles of serving will provide a solid foundation and will last a lifetime. Some of the tangibles are learning a skill, travel, and getting access to both the…
My Retirement 4-50 Update #3
My retirement 4-50 plan is our goal to be work-optional by age 50. It consists of 4 retirement income blocks. Retirement 4-50 is based on cash flow. My goal is to have a total of $6,000 a month cash flowing from each block (total $24,000). The blocks are retirement income, investment income, rental income, and…
5 Takeaways from “The Passive Income Myth”
“The Passive Income Myth”, by Joseph Hogue, is my favorite pick for people who want to begin their passive income journeys. The book talks about 4 different passive income strategies, all strategies that I consistently preach about. In fact, if I were going to write a book about passive income strategies, this is the book…
Passive Income Ideas: $7,027 from $1,000
Wow! $7,027 from $1,000. That is a cool 700% return. Is it really possible? Of course it is. And you can have everything up and running by next weekend. The caveat is….you are not going to like what it entails. But you are not here to be comfortable, you are here to become rich! I…
Scenario #1: $8,000 a month Cash Flow Retirement
Scenario time. Brian is a 35 year old IT professional. He wants to retire 20 years from this date, which would make him 55 years old. He has enough savings for a downpayment on a house and nothing else. His job pays him $60,000 a year and he would like to retire with $8,000 a…
20 Books That Will Make You Rich
Check out part 2 of the Series Disclaimer: Reading in of itself will not make you rich. However, reading and creating actionable tasks WILL make you rich. I wanted to keep this page as simple as possible. I have attached my personal review of each of these books. These books together have helped me gain…
My Retirement 4-50 Update #2
My retirement 4-50 plan is our goal to be work-optional by age 50. It consists of 4 retirement income blocks. Retirement 4-50 is based on cash flow. My goal is to have a total of $6,000 a month cash flowing from each block (total $24,000). The blocks are residual work income, investment income, rental income,…
Are you Prepared for Retirement?
Whew, I am starting off with a very tough question for most people, including myself. There is a difference between being “ready for retirement” and “being prepared for retirement”. I think most of us tend to be ready for retirement when we realize that there is no “big” payoff at the end of a career…
My Retirement 4-50 Update #1
My retirement 4-50 plan is our goal to be work-optional by age 50. It consists of 4 retirement income blocks. Retirement 4-50 is based on cash flow. My goal is to have a total of $6,000 a month cash flowing from each block (total $24,000). The blocks are residual work income, investment income, rental income,…
Introducing Retirement 4-50
After about a year of investing and reading over 11 books in 3 months, I have finally come up with my solution to retirement. I have taken many things into consideration before presenting this idea to the general public, such as “Is it possible for most people?” “Is it achievable?” “Does it work?”. Those are…
5 Takeaways from “I Will Teach you to Be Rich”
“I Will Teach you to Be Rich” by Ramit Sethi. This was an amazing book. It will help almost anyone understand how to visualize their money plan and tendencies. It also gives step-by-step tips to begin a journey to financial independence. Here are my top 5 takeaways. 1) Most people do not have the mindset…
