Dave Ramsey is Right. Pay Off that Stupid Debt Before Chasing that 401(k) Match
When it comes to paying off debt, there’s only one name that comes to mind: Dave Ramsey. For decades, he has taught millions of people through his podcast and radio show, a process for getting out of debt and building wealth, which he calls the “Baby Steps.” He has helped …
Introducing… MB50 Financial Independence Calculator
How can you tell if you’re Financially Independent? There are a lot of misconceptions about this subject. Your 21-year-old who left the house for good is nowhere near F.I.— He simply transferred his dependence from you to his employer. Being a multi-millionaire won’t necessarily make you financially independent either. Financially …
Net Worth Update: Seven Years Later
Seven years ago, in August, I launched this blog with a net worth shy of $1M. On Labor Day the following year, I posted our very first net worth update. I thought sharing our net worth was a motivational boost to myself and other financial voyeurs who are on a …
Net Worth Update: Six Years Later
Once again, it’s Labor Day– the day I “brag” about the fruits of my labor. Except there’s nothing to brag about this year. Our investments have been hammered like cryogenically frozen horse meat you badly want to barbecue. As a result, our household net worth is down for the first …
How to Survive and Thrive from a Bear Market Attack
Imagine you’re hiking in the Alaskan wilderness with a friend, and not far away, you spot two little cubs heading toward you both. Your heart starts pounding, wondering where momma bear is until you get startled by the sight of an angry grizzly ready to pounce the two of you …
How to Calculate Your Savings Rate the Right Way
I recently got interviewed by the FI community on Instagram, and one of the questions the content curator asked was, “How much is your savings rate?” to which I responded with 40%. But in all honesty, I grabbed the number out of thin air. I’ve been religiously tracking my annual …
Net Worth Update: Five Years Later
If you’re one of the smart ones who follow my blog, you’re probably aware I share our household net worth, for the past four or five years, on Labor Day. This tradition has symbolic importance. Never mind if you have a desk job sitting comfortably in front of a computer. …
How to Protect Yourself from Rising Inflation
Talks about inflation have been the rage across news outlets and social media lately. Biden’s $1.9 trillion coronavirus stimulus package is freaking out too many stock-market pundits faster than the vaccine rollout. Some are probably on drugs to even suggest it could reach hyperinflation levels. This fearmongering has led people …
Don’t Make a New Year’s Resolution, Start a Plan
One of my proudest accomplishments is being able to finish our basement with my own hands. It now comes with a full bath, laundry room, home theater, and a mini gym. I did most of the labor myself, including the electrical and plumbing, working mostly weekends with occasional help from …
The Shortest Path to Wealth is Not Necessarily the Best Route to Take
What is the shortest path to wealth? Frankly, I have three words for you: “Marry for money.” Either that or “Win the lottery.” Neither is realistic nor practical unless you happen to be extremely attractive or incredibly lucky. If you ask a few personal finance gurus, however, you’ll get differing …