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Archives for September 2016

The First Million is the Hardest

September 30, 2016 By ESI 87 Comments

The first million dollars is the hardest

Summary: Some say that hitting your first million in net worth is harder than hitting subsequent million-dollar milestones. This post examines whether or not this is true. Ever hear the quote "the first million is the hardest" (meaning the first $1 million in net worth is the hardest to achieve)? Is it true? And if so, why? Today we'll discuss this topic and uncover … [Read more...]

Filed Under: Net Worth

My Jobs, Second Job a Winner

September 29, 2016 By ESI 7 Comments

How my second job turned out

I've now shared details on four of my jobs and what I've learned through each of them. If you'd like to re-read any, they are as follows: My Jobs, Pre-College My Jobs, College My Jobs, Graduate School My Jobs, Introduction to the Real World Today we'll continue this series by giving details on the second job I held after graduation. The second job I held … [Read more...]

Filed Under: About, Career

Retirement Math

September 27, 2016 By ESI 23 Comments

The math that goes into retirement planning

Summary: Retirement math is pretty simple. Get the formula right by using the ESI scale to hit financial independence. As I discussed in My Retirement Budget, Income Allocation, and How I Plan to Diversify, there's a basic retirement formula. We'll get into specifics in a minute, but first let's revisit what I've said. Here are the main parts of my comment: Retiring … [Read more...]

Filed Under: Invest, Retirement

My Properties Have Appreciated Over a Quarter of a Million Dollars (Over 45%)

September 26, 2016 By ESI 14 Comments

My real estate assets appreciated

A few weeks ago my property manager emailed me to ask if I'd be interested in selling any of my properties. I told him I wasn't but I would be interested in their estimated value. I had heard the market was "hot" for rental units and I assumed mine had gone up in value, but I wanted a better estimate than they had "gone up." He said he'd have his real estate department … [Read more...]

Filed Under: Invest, Real Estate

My Retirement Budget, Income Allocation, and How I Plan to Diversify

September 23, 2016 By ESI 15 Comments

My retirement budget and numbers

Today I wanted to give you some insight into the financial process I went through to decide I had enough to retire. We'll review the budget I set up (both income and expenses) and I'll give commentary on where I stand now and some steps I'm planning. We will cover them from a pretty high level (no one wants to go through a line-by-line budget) but give enough information … [Read more...]

Filed Under: Cash Flow, Retirement

Responses to My Retirement

September 22, 2016 By ESI 41 Comments

how people react to the news I'm retiring

As you might imagine, my retirement caught most people by surprise. I think it's because of a combination of three things: My age (only 52). Most people do not retire this young. My career. Most people who know me see me as a hard-charging executive. How could I stop working? My looks. Believe me, I look nothing like a "rich guy who could retire at 52." I look … [Read more...]

Filed Under: Retirement

Debt Costs a Fortune

September 20, 2016 By ESI 18 Comments

We've all heard the stories of people who have gotten out of debt and how wonderful it is. Dave Ramsey has made the "freeeeeedommmmmm" yell standard for his listeners who have eliminated all their debt. And yet the debate rages -- is it wise to pay off all your debt or not? There are arguments on both sides. This post is designed to address one aspect of the debt issue -- … [Read more...]

Filed Under: Debt

What Makes ESI Money Different

September 19, 2016 By ESI 22 Comments

What makes ESI Money different

As many of you know, you can subscribe to ESI Money by either using an RSS feed or being emailed a post summary each time I post. To do either you can visit my "subscribe" page. When someone subscribes to the email list, I get a note saying I have a new subscriber. Likewise, when someone unsubscribes I also get a notice. In addition, sometimes the unsubscriber leaves a … [Read more...]

Filed Under: About, Not Experts

How to Cut the Cost of Retirement in Half

September 16, 2016 By ESI 17 Comments

How you can retire for 50% less

How much do you need to retire? Even if you don't have an exact number in mind, just think of an amount you guess would be close. Maybe $1 million or so? Or a bit more or a bit less depending on other sources of income you may have? Whatever your number is, now take half of it. What if this was the amount you really needed to retire? Makes those golden years of rest and … [Read more...]

Filed Under: Retirement, Save

Update on My Fitness Efforts

September 15, 2016 By ESI 21 Comments

How I'm doing working out

It's been a few months since I wrote Physical Fitness and Financial Fitness. In the meantime I posted again on the link between health and wealth (see Being Healthy Can Grow Your Net Worth) and there are additional posts coming on this subject. Before we get to those I thought I'd give you an update on how my fitness plan is going. I'll assume you've read the first post … [Read more...]

Filed Under: About, Health

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