In posts like The Best Way to Maximize Your Investment Return and How a Side Hustle Business Can Get You to Financial Independence in 10 Years I use 8% as a long-term return percentage when doing investment growth projections for stock index funds. Many sites will use 10% since it's around the historical long-term return of the stock market. And, of course, Dave Ramsey uses … [Read more...]
Archives for August 2017
Millionaire Interview 17
Here’s our latest interview with a millionaire as we seek to learn from those who have grown their wealth to high heights. Today we are treated with an interview with Mr. 1500 from 1500 Days! If you've ever read his site you know that he has a GREAT sense of humor. Thankfully for us, he's brought it with him for this interview! My questions are in bold italics and his … [Read more...]
Ignore Money Critics
A while ago I published Millionaire Interview 6. As I often do, I shared the post on Facebook. One person made this comment: Honestly, not overly impressed. Yes, a millionaire with home equity and a good job, but keeping most of his money in cash the last three years??? If that was invested in the market his net worth would now be 1.75 to 2 million. Playing it way too … [Read more...]
A Great Example of Working the ESI Scale
Several months ago I wrote Working the ESI Scale to Financial Independence. In that post I rated my performance in each of the three categories we discuss here -- earning, saving, and investing. A couple weeks ago I had a reader send me an awesome email where he did the same thing. I just had to share it with you. Here goes: I am writing you today in great thanks … [Read more...]
Millionaire Interview 16
The following is a millionaire interview I first published on a previous site. But this one has a couple different twists. First of all, this is the first interview that's taken place with TWO millionaires -- a father and a son. I had contact with the son and he offered to answer the questions with his dad. I think the results are terrific! Second, the interviewee reached … [Read more...]
Personal Finance is Common Sense
This is a related post to Stop Making Money Excuses. Don't worry, it won't be as rant-y as that one. :) But it will address an objection that I come across all too often. Not Rocket Science Let's begin with the obvious: understanding personal finance is not rocket science. The concepts needed to become wealthy are few in number and easy to understand. In fact, I've … [Read more...]
How to Earn Extra Income: Side Hustle Ideas Worth Considering
Now that I've shared how a side hustle can get you to financial independence in 10 years, I wanted to offer some suggestions on side hustles for your consideration. Of course there are thousands of ways (maybe more) to earn some extra money on the side, so I took the approach of "what would I consider doing if I wanted to start a side hustle"? I figured that if I would be … [Read more...]
Three Steps to Determine if You Have Enough to Retire
I've posted a ton on retirement including: how to retire early, whether $1 million is too little to retire or not, and how $3 million is not enough to retire. But those posts tend to be "how to's" with general suggestions. Today I'd like to get more specific and provide a roadmap for those wondering if they can retire or not -- a way for them to calculate … [Read more...]
Help a Reader: Is Travel Hacking Worth It?
Here's an issue a reader needs help with. In this case, the "reader" is me. :) Now that we are close to 1) having both kids far away from where we live (we are in CO and will have one kid each in VA and LA) and 2) once we have no kids at home, we're going to travel a bit more, I've started to think about travel hacking. Between the four of us we'll be frequently jetting … [Read more...]
How a Side Hustle Business Can Get You to Financial Independence in 10 Years
I've been writing about financial independence (FI) for many years now. More recently as I've dived deeper into the subject (i.e. retired and started a new blog) I've been considering the impact of a side hustle on FI. The bottom line: it's pretty significant. I thought I'd detail just how important a side hustle is so those of you out there working towards FI can … [Read more...]
