People sometimes make fun of me for getting up at 5am... But I tell them it’s part of my “pay myself first” rule. “Paying yourself first? Isn’t that an old money rule from one of those finance books? What’s that got to do with getting up at 5am?” Well, as you probably know, the pay yourself first rule exists because most people are bad at money management. When
How to File an Insurance Claim on a Rental Property
Bugger! I just found out my rental property in Texas needs a new roof! There was a nasty hail storm last month that ripped through the area and smashed a bunch of cars and houses — unfortunately, my rental property was one of them. 🤦🏻♂️ The good news is that nobody was hurt, and insurance will cover the replacement roof cost (~$10k).
10 Financial Statistics of the Average American
Good morning, money nerds! Today I thought we could play a little game called “How do your finances compare to the average American’s?” Below I’ve gathered 10 money statistics about the average U.S. household’s finances. And while this data has no actual effect on your personal situation or trajectory, it’s still fun to see how you stack up. I’ve also showed my own
Net Worth Report #8 “Garden Gate”
Buenos dias, amigos! This week I’m in Oaxaca, Mexico, hanging out with some new friends and eating the world’s best mole! It’s my first international trip since COVID, and although it’s a little scary being around so many people, it’s great to be traveling and exploring again. We had another killer month of investment growth in April -- adding $22,972 to our investment
401(k) Rollover to IRA: Why Bother?
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
$11.20 to Fly to Hawaii and Other Vacation Hacks
Happy Aloha Friday, everyone! Earlier this month my wife and I got back from a 10 day Hawaii trip, and I’m just sitting down to tally up all the travel expenses. This being a personal finance blog and all, I thought I’d share the numbers and costs. It’s not like we’re extreme frugal travelers or anything, but we’re also not big spenders. We found a few ways to cut corners
What’s a Real Estate Syndication? A Hypothetical Example…
Hey you. Do you want to invest in a real estate project with me? Let’s say I find a massive apartment complex for sale for $50 million. If we get a bank loan with 80% financing (borrowing $40 million), this makes our down payment only $10 million. To get the $10 million cash down payment, we just need to find 200 people to put in $50,000 each. To keep things fair,
How I Started a Quarantini 🍸 Business During the Covid Pandemic
[Morning everyone! HAPPY FRIDAY!!! Got a fun story for y’all today... My buddy Alise, aka the "Pandemic Gift Fairy," is sharing how she started a quarantini business last year -- it’s called StirCrazi! What I love most about Alise’s story is the combination of GRIT + trial and error. If you're interested in starting an online business or want to jump on a growing trend,
How to Budget for Unplanned Expenses (‘Cuz You’re Not “Even Steven”)
Do you guys remember that episode of Seinfeld where Jerry learns he is “Even Steven”? One of Jerry’s work gigs was cancelled, then another one popped up shortly afterward for the same night and same pay. He lost a $20 bill, then later found $20. A girl broke up with him, and he met another one right around the corner. Everything always evens out for him. via
Volunteering Sucks. But It’s Also Kind of Awesome.
Happy Friday, lovely people! Today I’m going to talk to you about volunteering and how awesome it is. And by awesome, I really mean ... Inconvenient, thankless, frustrating, gritty, and a total pain in the ass! (But then somehow if you grit through all of this, that’s when the awesome and wickedly satisfying bits come in 😀.) I’ve been volunteering for
