Tag: retirement
Don’t Gamble Your Retirement Away
Let’s take your retirement nest egg and head down to Las Vegas. I am feeling lucky and there will be a full moon out tonight. Let’s let it ride, bet on black, and put it all on number 23. Does this sound like something that you would want to do? It sounds like a horrible…
Taxes 102: The Business Mindset
In Taxes 101 we talked about the three types of income. Now it is time to put ourselves in an even better financial situation. I want to briefly speak on the differences between an average individual and a business. Indeed, only people with the utmost financial education can leverage a business to the fullest extent.…
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…
My Grandkids: Why I Will Never Work for Anyone Ever Again
I will never ask another adult for permission to see my grandkids. I will never ask to take two weeks’ leave in order to go visit my kids and their children. I will never feel the burden of having to go back to work after visiting family. Those days are over before they began. Besides…
The Difference between Retirement Planning and Creating Passive Income
To put it bluntly, financial education in America sucks. There is truly no other way to put it. But, I can understand why. Most Americans cannot save or do not want to save. The few others, that make it a point to save, are investing diligently into their TSP or 401k retirement accounts. Even fewer…
Say this 3 times “My Job WILL NOT make me Rich”
No, seriously. Say this 3 times out loud, “My job will not make me rich”. Did you say it? It is very important that you say these words and heed this advice. The sooner that you believe this realization to be true, the better off you will be. I wish that someone would have grabbed…
Is Becoming Rich Something that is Right for You?
Of course, everyone wants to become rich. We all want to have the security of no longer having to worry about money. I do not think people wake up just to worry about money. But having financial security is a far different achievement than becoming rich. I would consider being becoming financially secure as having…
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…
The Importance of Cash Flow
Well, it is never fun getting a $2,000 bill out of nowhere. This just happened to me and Kris today. Apparently, hurricane Sally brought with it termites that decided to attack House #2. The good part is that Kris and I have diligently been working on increasing our cash flow throughout the months. This is…
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,…
Envision Your Dream Retirement, and Then Work Backwards
What is your dream life look like? Where would you be and who would you be with? I talk to so many people whose dream is to retire from the military, get another government job, and then retire fully at age 65. And then hope that they have enough money to survive between two pensions…
My 4 Retirement Blocks
Not too long ago, I was happily planning on retiring from the Marine Corps and starting a new job. But, lo and behold, I started reading. Oh no. So having only military retirement income is no longer the plan. I found out through reading that I can actually have my money do all the work…
How to Build a Couples’ Retirement
After almost 15 years of marriage, I understand how important personal finance is to maintaining a healthy relationship. Even though my wife and I plan on retiring together, it is still important that she has her own source of income. With that, we plan on building two separate yet almost identical retirement plans for us.…
My Wife’s plan to retire at 45 years old
My wife joined the US workforce back in 2008, and she has worked every year since then. I am so excited for her to be able to retire at age 45 if she so chooses. That would give her 21 years of working in America. My wife does not have a traditional defined pension plan…
Our investment portfolio goal when I retire from the Corps
Here is a simple goal that we are aiming for when I retire from the Marine Corps in 8.5 years. Join our Facebook group at: https://www.facebook.com/groups/231490384820780 Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that…
Can you become rich by only using earned income?
There are three types of income; earned, business, and investment. I want to take a look at how I can become rich from having only earned income. Earned income is the income we receive from a working job. We have been taught that working hard at our jobs will eventually pay off in the form…
My $35,000 a month retirement plan
Over the last 15 months, my wife and I have been optimizing our lifestyle and finances to prepare for our future lives. We have cut down on household and entertainment expenses. We have begun to generate income outside of our standard jobs. And finally, we have began to invest in a balanced investment portfolio. Now,…
My military retirement should be worth $5.5 million
Every once in awhile I like to look at the military retirement calculator. It has been a sort of hobby on mine since I hit my 8-year mark of military service. I would calculate what an E8 would retire with at 20 years and what an E9 would retire with at 30 years. Lo and…
What is your exit strategy (from job)?
Many of us love our day to day jobs. Many of us do not even remotely like our day to day jobs. But we are all in the same boat. At some point in our lives, we will have to stop working. But what will we do when we no longer work? That is why…
Our Retirement Plan as of June 2020?
As of today, this is our initial retirement plan. I say initial because this is just the plan for when I retire from the military in 2029 at age 48. I still plan on working for at least another 10-15 years. Heck, may as well make double-dip in the civilian workforce. Let’s take a look…
