A friend of mine just admitted to me a big money problem… She has a little over $200,000 in CASH sitting in her checking account! 😳 Hot dang! That’s a lot of moolah!!! Some of you might be thinking, “What’s the problem? That’s awesome! I wish I had that much in savings!”... Well, the problem is, her money isn’t actually invested in anything. It has wicked
Net Worth Report #6 – “Half a Dozen!”
My wife and I made a pretty big investment change last month … We withdrew $35,000 from our brokerage account, took another $15,000 in cash, and invested it all into a new real estate project. You’re probably thinking we’ve lost our marbles, since I just wrote a whole saga about how rental properties are weighing me down and why we’re moving AWAY from them ... But, this new
J. Money Is Alive! And He Launched a New Curation Site… All-Star Money!
He’s back! The infamous J. Money who started this sexy blog over a decade ago has emerged! And he’s here today to tell us all about his new project that launched last week — All-Star Money — as well as what the heck he’s been up to the past nine months! Below is my Q&A with J. Money which covers some work stuff, personal stuff, and other random things. But if you’ve
Can You Sell Your Poop for Money?
Did you know you can actually sell your poop for money?! I know, it sounds gross. OK, it is gross. But it’s actually part of a pretty cool advanced medical process called fecal microbiota transplantation (FMT). Being a stool donor can earn you thousands of dollars each year while also helping sick people! Now before we get bogged down in the details, let’s get
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
Is It a Mistake to Pay Off Your Mortgage Early?
My friend Christine just reached a pretty huge financial milestone… She and her husband have paid off their mortgage and now own their home free and clear! Woohoo! This is a life goal many of us strive for, so you’d think everyone would be helping her celebrate. But instead, she’s been receiving some interesting and discouraging feedback! Here’s her story ... ***** My
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%
1 in 10 People in the U.S. Have Missing Money. Here’s How to Claim Yours.
Hey money lovers!!! I just learned about an AWESOME website that helps you find unclaimed money that is owed to you! Maybe this is old news for some of you, but this is the first time I’d ever heard of it. Searching last night I found more than four hundred dollars in missing funds and payments for some of my friends and family!!! (Sorry for all the exclamation marks, I’m
How Big Should an Emergency Fund for a Rental Property Be?
I got the following note from a reader the other day... “Joel, I noticed you keep a big emergency fund for your rental property. 2 questions for you... 1) It seems like you have too much cash because shouldn’t you only need 3-6 months of mortgage payments as a cash reserve? 2) Also why do you keep this emergency fund separate from your personal emergency fund?” Great
Net Worth Report #5 – “Man Alive!”
"Most millionaires measure their success by their net worth, not by their realized income. For the purposes of wealth building, income doesn’t matter that much. Once you’re in a high-income bracket, say $100,000 or $ 200,000 or more, it matters less how much more you make than what you do with what you already have." This snip is from one of my all time fav books, The
