I normally don't do a post on Tuesdays, but there are several miscellaneous announcements I want to share. If you're not interested in knowing what's going on here at ESI Money, another money-related post will be available tomorrow. But if you are, here are some things you'll want to be aware of... New Interview Series My Millionaire Interviews series is very popular … [Read more...]
Where Does Giving Fit with Financial Independence?
I read a hundred blogs on a regular basis, many of them in the FIRE (financial independence retire early) movement. As you might imagine, they cover a broad spectrum of money topics. I enjoy reading so many because they have such different and interesting perspectives. But even though I consume hundreds of posts each week, I rarely find one on giving. And I'm not … [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...]
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...]
Stop Making Money Excuses
Well, it's been awhile since I've had a good rant here, so let's fire one up today. ;) I've been blogging on one site or another for over 12 years now. It doesn't take nearly that long -- in fact it takes about two minutes -- to realize that people like to make excuses about why they aren't wealthy. No matter how simple the topic or suggestion might be, there's someone … [Read more...]
What Are Your Three Money Truths?
I listen to a ton of podcasts over the course of a week. Most of my listening is done when I walk (I try to get in 14,000 steps a day, 7,000 minimum). Podcasts are great at making walking more interesting when my wife is not walking with me. I listen to a lot of personal finance podcasts (of course), but also have a good number of "self-improvement" ones as well. One … [Read more...]
Make Small Progress Every Day
How would you like to achieve your wildest dreams? How would you like to accomplish anything? No matter how large... Ok, perhaps that's an exaggeration. After all, I might want to "be richer than Warren Buffet" but that's very unlikely to happen no matter what I do. But I'm talking big goals that are reasonable, though tough: Becoming a c-level executive of a … [Read more...]
Is the Cost of a Financial Advisor Worth It?
A couple months ago I was having lunch with a friend. He's a financial advisor/planner and we talked about his job since he just started with a new company. He told me that their intro financial planning product was a "comprehensive financial plan" that they did for clients to see where they were financially and what help they might need. He said his company offers a … [Read more...]
How to Pass Wealth to Your Kids
Have you ever heard the phrase "shirtsleeves to shirtsleeves in three generations"? This site notes that other cultures have similar sayings (Japan: “Rice paddies to rice paddies in three generations.” Scotland: “The father buys, the son builds, the grandchild sells, and his son begs.” China: “Wealth never survives three generations.”) and here's how it explains them … [Read more...]
Help ESI Money Move to the Caribbean
That headline got you, didn't it? :) Well, the truth is I do need some advice and thought you would be the perfect ones to ask. Here's our situation: The cold gets to us every winter. It's just too cold for too long. We used to take cruises for 7-10 days in the winter when we lived in Michigan. But with our kids' crazy work schedules, that was not realistic this … [Read more...]
