One key retirement question revolves around housing. Where will you live? Will you stay where you are or move? If moving, within the same city or elsewhere? And what type of house? We have been considering these questions as it seems absurd to have two of us and a cat live in a 3,600 square foot house. As of now, our two kids, my son-in-law, and my daughter's four cats … [Read more...]
How to Save Big on Buying a Tesla
I am LOVING the Millionaire Money Mentors forums!!! I am learning so much as well as connecting with some really great, like-minded people. Even if no one else would ever join, I'd keep it going for just me! But people are joining and the site is now getting almost as many monthly pageviews as ESI Money. It's pretty phenomenal. We discuss everything there from the … [Read more...]
Savings Tips for the Top Five Housing-Related Costs
I have heard a couple philosophies on the best ways to save money. One school of thought is that you need to focus on the "big three" expenses -- housing, transportation, and food. The proponents of this line of thinking say that if you get these right, the rest of your spending takes care of itself. Another school of thought says watching "small spending" is just as … [Read more...]
The Good Old Emergency Fund
If there's one thing that's the forgotten step-child in personal finance, it's the emergency fund. Those just starting out on their financial journey hate it because it's a killjoy -- something they have to save for that has zero perceived value (at least in many people's minds). Those of us further down the road don't really think much of it as it's simply "there" -- … [Read more...]
The Financial Implications of Owning a Cat
One of my favorite songs of all time is "The Long and Winding Road" by the Beatles. This post is likely to resemble that song and could be named "The Long and Winding Post". So if you're not into the backstory of my history with pets/cats, you can jump to the money stuff below where I "get to the point." On the other hand, if you're interested in how we came to own a … [Read more...]
My Latte Factor
Anyone love coffee? ;) For most of my life, I was not a coffee drinker. I preferred my caffeine cold in the form of Diet Coke. And then fate stepped in... But before we get to that, let me say that the following is a guest post I originally wrote for Get Rich Slowly. It was written over a year ago and since then, I have had to change my coffee-making methods. So at the … [Read more...]
Eight Areas Where I Could Easily Spend a Fortune
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...]
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