Category: Retirement Planning
Time is Money #1: Debt is a Function of the Past
Most of us don’t understand the devious nature of debt until it’s too late. We believe debt helps us get what we want—when we want. In reality, debt is sucking life from our souls. The more debt we have, the more we are tied to our jobs, lifestyles, and cities. Today, I want to get…
Choose Between $100,000 Active Income and $50,000 Passive Income
I will ask you a question that will rattle you to your core. Do you really want to go to work every day? It’s okay to be truthful; I’ll go first. My job fulfilled me for the first 15 years after high school. At a random point, it became more of a chore than entertainment. …
Quiet Quitting vs Loud Rehiring: Time to Go Back to Work
Did you buy into all the hype surrounding the quiet quitting and great resignation movements? How did that work out for you? I agree with you on one thing—the workplace is terrible in its current form. There are two crucial elements missing: leadership and mentorship. However, you’ll need to go back to work until you…
Happy Cash Flow Retirement 9
There is nothing preventing us from retiring early except ourselves. We have all the tools to live a fulfilling life without working a day job. So what prevents 97% of the population from riding off into the sunset before age 50? The answer lies in our need for more information and action. Welcome back to…
Save (for) the Children: Series “I” Bonds vs Roth IRAs vs HSAs vs 529 Savings
Life is good when you understand your finances. There are many tools parents have to assist children in getting a head start. To prepare your children financially, YOU must be financially prepared. Therefore, getting your act together is a top priority before your children leave home. I spent many years struggling with my money until…
5 Takeaways from “The Everything Budgeting Book”
“The Everything Budgeting Book” by Tere Stouffer is a massive book covering everything about budgeting (as the title implies). You will find budgets from having a baby, saving for college, and growing a retirement fund. This is the book I should have read right before I joined the military in 1999. Many of the lessons…
I Love Paying Bills Because I Mastered the Process
I remember hating to pay my bills in my early 20s. I didn’t have a cell phone back then, but I had a car loan, insurance, and maintenance costs. I hated paying bills because I didn’t comprehend the process; I wasn’t serious about keeping tabs on my expenses. I got married in 2006, and my…
Position Yourself for the Next Bull Market
We are near the bottom of the bear market. Pessimism in the markets peaked, and we can begin to see optimism show its lovely face. But we still have time to make some life-changing moves while prices are excellent and everyone focuses on surviving. To invest wisely during a bear market and recession, we must…
Change Your Money Cycle: Your Spending Habits Determine Your Wealth
We hit the jackpot by being born in America. We have the chance to go from broke to rich in one lifetime. Heck, we can achieve incredible wealth in 20 years if we truly try. Unfortunately, most people will never seize this fantastic opportunity. Not because they didn’t work hard but because their money cycle…
Increase Your Savings Rate: It Determines When You Can Retire
How fast do you want to retire? Do you genuinely want to work until the full retirement age of 66? I know I don’t want to work for another 25 years. But what is the best way to retire early? We all hear terms like Financial Independence Retire Early (or F.I.R.E.), but what does that…
Two People, One Budget: Create a Budget and Start Income Investing
They say finances cause most marriages to fail, but what specifically is the disconnect between couples? More importantly, how can we prevent these issues from causing a division between the lovebirds? My wife, Kristina, and I have been married for 17 years, and we are on the same page financially. When we didn’t have “the…
What is Your Net Worth? How Long Can You Survive Without a Job?
Net worth has become a status symbol; apparently, if you are a net-worth millionaire, that is supposed to mean something. However, having a high net worth doesn’t necessarily mean you are wealthy. There is a massive difference between static and functional wealth. Today, let’s determine your net worth (and mine’s) and see how this money…
Inflation Ate My Paycheck 111: Ride the Recession with a High-Yield Savings Account
Interest rates are moving upwards, and they can affect us positively and negatively. As safe securities like treasury bonds and Series “I” Bonds increase their yields, prices for risk assets (like stocks and crypto) can decrease. That’s why it’s good to have exposure to many types of asset classes (real estate, bonds, stocks, cryptos, automated…
Build a $1,000 Emergency Fund in 10 Steps
Saving money is a process that most of us need help understanding. If you want to save a large amount of money, your system will need to operate like clockwork. You’ll need to visualize your money before you can save consistently. You can see your money best by using spreadsheets and following a budget. You…
Why Are You NOT in the Work Force?
Everywhere I look, it seems people are quitting their jobs. Whether it is quitting in place, also known as quiet quitting, or walking away completely (the Great Resignation), the world is turning upside down. However, this is a social media ploy to slow down the average American. Many reasons contribute to this mass exodus from…
How to Become Financially Independent in Your 20s
Being young grants you the gift of youth. Youth allows you to work as hard as possible and recover easily by the next morning—you are almost invincible. However, with youth comes hormones and pride. Indeed, fighting through your own mindset will be the biggest challenge of all. If you can get it together, you can…
The Magic of Having (Budgeted) Fun: Be Creative Within a Daily Budget
Yesterday was a great day. My mom is in town, and all five of us (wife, mom, and two boys) went to Ruby Tuesdays. We ate whatever we wanted and walked out the door, spending $150. That’s not bad for a family of five, especially during an inflationary and recessionary timeframe. But the best part…
Inflation Ate My Paycheck 110: Get Past the Middle Class
Life is interesting because there is no such thing as slowing down. Things start to fall apart when you take your eye off the prize. To have long-term success, whether financial, career, or relationships, you must constantly learn, grow, and build. Nowhere is this more evident than with the class system in America. Inflation will…
The American Dream is Passive Income
Can you begin life in the poor or working class and finish in the wealthy elite? You absolutely can achieve incredible wealth in one lifetime in America. Are you going to get there working hard at a job? Will you get there by directing your blood, sweat, and tears toward someone else’s ventures? The answer…
Wiping the Debt of Christmas Past
Christmas is when we overindulge, over-travel, and, worst of all, overspend. However, racking up credit card debt during the holidays can leave us in a challenging situation for years. We live in a consumer-focused nation that thrives on spending in the economy. I love the holidays as much as everyone else, but we have to…
