Hello friends! How are you this fine morning? Have you ever left an employer and accidentally forgotten about your old 401(k) account? Maybe you intended to roll it over to a new retirement plan, but the paperwork felt daunting so you never got around to it ... (About 30% of you should be nodding your heads right now, according to studies.) Then after years of the
Early Retirement
Retired at 43: “No Gambling, No Lotteries, No Bitcoin”
Hey, everyone! We got a comment on the million dollar club page a while back that I thought was pretty interesting … so I dug a little deeper and found a cool story to share. Below is the original note, followed by my nosy questions and the replies (with edits for length and clarity). Great tips and information here that might help you on your own path to hitting
How Covid Is Changing Americans’ Retirement Plans
Happy Monday! Who’s ready for kick-ass week? 🙋🏼♀️🙋🏽🙋♂️ I’ve been reading a survey conducted by our friends over at Personal Capital that reveals some interesting info about how covid has affected people’s retirement plans. Some of the results are a little scary (like ~30% of people tapped
Why My FIRE Number Keeps Changing
My wife and I discovered the FIRE movement about three years ago. We’ve always been decent budgeters, savers, etc., but three years ago was when it really clicked for us… “We can retire early!” It all came down to us figuring out our “FI number” and realizing it was reachable in our 40s. Why the 4% Rule for Retirement Doesn’t Always Work Most FIRE enthusiasts follow the 4%
Sequence Of Returns Risk – Why You Should Care
Sequence of returns risk? Sounds like something only old, rich, retired people have to worry about... As long as I save up 25X my annual expenses and hit my FI number, I never have to worry about money ever again, right? Wrong. Sequence of returns risk is the No. 1 risk that can cause early retirees to run out of money. So pay attention my young FIRE friends... this stuff
Bustin’ a Few Myths About the FIRE Movement
For every “movement” where a group of people band together and try to improve their lives, there will always be a handful of nay-sayers trying to discredit the cause. The financial independence FIRE movement has a bunch of these haters. And while some concerns about early retirement might be legitimate, the most common objections I usually hear are myths (or personal limiting
Budgeting for Healthcare in Early Retirement
[Many FIRE walkers (including myself!) underestimate the cost of healthcare in retirement. It could be because we don’t track our costs accurately, don’t monitor our employer contributions, or forget to account for healthcare completely! Guest authors The Dragons on FIRE explain in today’s post the importance of tracking, budgeting, and planning for healthcare, as well as how
Living a Stealth Wealth Lifestyle
A few years ago, I went into my local bank branch to do a wire transfer. I wrote my name on the check-in sheet and helped myself to a free cup of coffee in the waiting area. After a few minutes, a well-groomed young fellow in a suit and tie came over to greet me. As he reached to shake my hand, I noticed his eyes looking me up and down, studying my old t-shirt, dirty jeans,
You Don’t Have to Be Good at Math to Be Good at Personal Finance
Happy Friday! Who’s looking forward to an awesome weekend!? 🙋♂️🙋♀️ Today I’m gonna share something a little embarrassing… It’s the final report card from my graduating year at high school. Check this out: As you can see, Math was my worst subject. 29 out of 100... I’ve never scored lower than 29% on anything
6 Ways My Parents Taught Me Financial Independence
Want to teach your kids financial independence? Here's how mine did! “Hey Mum, this is my friend Daniel from school.” “Nice to meet you, Daniel, and welcome to our home! Joel, do you want to wash the dishes, hang the laundry, or vacuum the house?” “Ah, Mum... Daniel came over to play. Can I pleeeeease skip my chores today?” “Nope. If you live in this house, you must do
