Tag: retirement
Renting Rooms to Family Members
Do you own a big single-family home with only a single family living inside? Well, congratulations, that’s a fantastic feat. The follow-up question is, how is your financial situation looking? Chances are, it is not looking too good. The bait and switch. Who told Americans we all deserve to live in 2,000-square-foot, 4-bedroom, 3-bathroom homes?…
How to Create, Buy, And Build Assets: Start the Journey to Set Yourself Free
My favorite author Robert Kiyosaki says it best, “An asset puts money in your pocket, and a liability takes money from you.” Understanding this simple truth has allowed me to become debt free and financially independent over the last four years. I simply focus my efforts on obtaining assets and not accumulating liabilities. Collecting assets…
Why Rents Will Continue to Rise: And How You Can Get Ahead of the Rental Curve
Are you waiting for a housing crash before jumping into the market? Well, you may be waiting for a very long time. The rental market will continue to rise for the foreseeable future for one main reason—investors. There are simply too many individual and foreign investors, institutions, syndications, and real estate investment trusts (REITs) for…
Turn a Reverse Mortgage into an Income-Investing Portfolio
At some point, our parents may need to use their primary residence as a retirement plan. We, as their kids, need to remove the emotion from these decisions. Each generation’s retirement years are getting longer, so it could be tough to generate income for 30 to 40 years. This is especially true if they liquid…
Being Mediocre is Not Okay
The world wants you to be mediocre. The best way to sell products, enforce taxes, and inflate prices is to have a society of losers. We should all strive to be our best selves; this prevents us from being average. The new world order uses new catchphrases to keep us at the bottom. Some of…
The Six Types of Income Investing: Sorted by Risk
Income investing is my favorite type of passive income by far. However, it’s not for most people, and it takes an above-average knowledge of financial systems. If you are up for the challenge, I can briefly tour this wonderful “hobby.” Income investing can help you free yourself from the chains of employment much earlier than…
Are You Drowning in Debt? Try Building a Relationship with Money
Our parents and teachers train us to be good employees. Unfortunately, this mindset leads to terrible interactions with money. The first step to getting out of debt is understanding the language of money and then learning how we should spend it. The root cause of debt. We live in a consumption-based, spend-first society. However, that…
Dividend ETFs vs. Bonds 2: The Tax Edition
After writing “Dividend ETFs vs. Bonds,” I got to thinking about taxes. As we head into retirement, taxes will play a significant role in our decision-making. Let’s rerun the $500,000-401K scenario, but this time with a perspective focusing on taxes. Let’s assume we are 66 years old and drawing social security. What are qualified dividends?…
Getting Rich is a Team Sport: The Individual American Dream is Dead
They really did a number on us. They will have us believe that in one lifetime, we can get a college education, climb the corporate ladder, get married, stay married, have children, raise children, fund our children’s education, and save for retirement. Yeah right. The American Dream is much more than $5 million today. With…
Don’t Gamble with Retirement 10
A lot has changed since I started blogging about personal finance in July 2020. At the time, retirement planning was something you could do on the side. Why spend all of your time planning for something 30 to 40 years away, right? Wrong! After a crazy turn of events, the only way to retire is…
Retirement Planning for the Average Person 5
Sometimes we must admit when we are wrong. I find myself in this position today—humbled. There was one core truth I believed, but it has changed recently. I believed you could stay in the workforce long enough to create a truly passive income retirement. For example, you could work until you earned $5,000/month in dividends.…
Dating with Dividends: Find Your True Love through Budgeting
Budgeting together is my definition of true love. Yes, it doesn’t sound sexy or romantic, but it’s practical and successful. My wife and I met in a far-off foreign land in 2004; I was 23, and she was 20. It was love at first sight. I told her I loved her in three days. Now,…
Retiring to a Small City and Living on Passive Income
Are you living in a big city attempting to fulfill the American Dream? How’s that working out for you? Even in small remote towns, the American Dream can cost upwards of $5 million. Actually, it’s more than that, just from last year’s inflation. If you are seriously considering retiring before 50, you must be extreme…
The Information: Passive Income is Your Only Chance at Happiness
Perhaps the title is slightly over the top, but I’ll explain my reasoning. I am writing this article for one reason: to quickly quote “the information.” Over my years of writing, I have begun to write “the information” as a quick reference to passive income, business, and entrepreneurship. For example, I say things like, “I…
Time is Money #3: Invest by Creating Infinite Returns for the Future
Most of us understand that we should be investing in our futures. The general media teaches us that putting money into a 401K is investing; however, it is more akin to saving. Yes, the money goes into the stock market, but you still “think” like a saver. Today, let’s discuss how to “create” money like…
The $5 per Week Dividend Investor: Time to Get Started
No more excuses. Let’s try something different today. I want to start you off as a dividend investor at the lowest level. Most people believe you need a ton of money to become a dividend investor. This theory is partially true. If you want to retire on dividends alone, you will need millions of dollars—true.…
Generation Quit: Being a Leader in the New Workplace
I’ve been in the military for 24 years and have seen a lot of change. If you consider yourself a leader, you will need to understand the new generation to navigate your team to success effectively. Yes, I used the word leader, not manager or supervisor. Very few consider themselves leaders because it is challenging…
Hustle Culture: How to Replace the Pension and 401K Mindset
The new shift to an entrepreneurial mindset is leaving most people behind. America was once a land of pioneers, innovators, and business people. However, the industrial revolution brought us out of the farms and small towns and into the city. Then, corporations and governments introduced the pension system. The pensions were lavish. Defined benefits, or…
There is No Work-Life Balance Until You Are Wealthy
If you hear a successful person tell you to reduce your grind, take it with a grain of salt. Your chances of becoming successful without grinding are slim-to-none. Why are these successful business people, entrepreneurs, leaders, and content creators telling you to slow down? They say things like “work-life balance” and “mental health” because these…
Envision Your Life Without a Paycheck: Start Building Your Income Today
Boy, does it feel good to get a paycheck, especially when you can spend most of your money on yourself. This fantastic feeling is a trap that takes years or even lifetimes to overcome. Two years ago, I wrote, “How Would Your Life Look Without a Paycheck.” I have spent the last two years asking…
