Many people assume I was able to accumulate a large net worth simply because I made a lot of money coupled with a natural tendency to be frugal. No. That's not how it happened. First of all, I didn't make a lot from the get-go. Like most millionaires, I had to work long and hard, delivering lots of value to my employers until my salary steadily grew. Second, I was … [Read more...]
How to Get Free or Low-Cost Health Insurance in Retirement Even if You Have a High Net Worth
With open enrollment right around the corner, I've been thinking quite a bit about health insurance. And since I get a TON of questions on the issue, I know many of you are thinking of it too. That's why I've already posted ideas on how to save money on medical costs. It's also the reason for this post, which discusses how people can get low-cost or even free health … [Read more...]
How to Save Money On Medical Costs
The number one question I get BY FAR about retirement after "How did you do it so young?" is "What do you do about health insurance/medical expenses?" It's a big issue for many in America because our medical system is so messed up. Look at it this way: millionaires are worried about health care costs in retirement. If it's an issue for them with all their assets, how does … [Read more...]
How to Save on a Wedding
On my first blog I posted money saving tips frequently. That was back in my wealth-building days when I was trying to reach financial independence and saving was a big part of our plans. Naturally I wrote about it since that's what we were focused on. I covered almost everything possible when it came to saving money, but one topic that I loved to rail on back then was the … [Read more...]
The Case for Spending More
I've been considering the topic of spending lately. But not in the usual "you're spending too much" line of thinking I've written about for so many years in posts like It’s the Spending, Stupid. These days I'm actually pondering how I can spend MORE money. Yep, you read that correctly. I'm considering spending more, which falls within the spirit of my post titled If … [Read more...]
Did Being a Country Boy Help Make Me Wealthy?
When I work out, I always listen to music. I've tried listening to books or podcasts when exercising, but it just doesn't work. I have to count (reps) or strain (lifting or cardio) and my attention on anything anyone says is gone. When I've tried a podcast or book I end up constantly rewinding which makes for a very frustrating experience. So music it is. I listen … [Read more...]
Spending Less Versus Earning More
If you've been reading personal finance articles for more than ten seconds it's likely you've heard that you need to "spend less than you earn." But it goes way beyond that. That's just the soundbite. A bit deeper there is a lot of online discussion about which is more important to financial success: spending less or earning more? It's an age-old money debate, similar … [Read more...]
Five Great Money Saving Tips People Hate
A couple observations... First, people love to save money. They like a deal. If they can get something for $50, that's better than paying $75. Paying $30 is even better. Second, people don't like to be told how to save money. Especially when those suggestions deal with strongly held personal preferences. It's also well-established that people hate having to change … [Read more...]
Are Solar Panels Worth It?
I have always been interested in alternative forms of energy. It's not that I'm a "tree hugger" on a social crusade for the environment. But if I could find a natural, cheaper (or even neutral) way to provide energy for our home, why wouldn't I? It would be a win-win. I've especially been interested in solar energy since we moved to Colorado, a place where there's more … [Read more...]
Frugalwoods: Finding Fun and Fulfillment in Frugality
I have shared several times that I walk a lot every day (it's one of the perks of retirement!). Last year I averaged just under 17k steps a day. I want to do the same (or better) this year. To get this many steps I usually walk several times a day including: After my workout, I take the long way home. By the time I reach our house I have about 10k steps for the … [Read more...]
