A blog for finding balance, satisfaction and excellence while living a frugal, physical, and financially independent life... or at least working towards it.
This may be the best book for someone in their twenties and possibly in their thirties to read. I have been reading a lot of books on early retirement, financial independence, and self-improvement lately and The Simple Path to Wealth by JL Collins might be one of the best.
Tony Robbins is not known as a financial master and he shouldn't be. He is a motivator and the self-help guru. That is his thing. With that in mind, I decided to read Money: Master the Game. Essentially, this book aggregates Tony's interviews with the world's smartest investors such as Dalio, Schwab, Bogle, and Buffet and then puts the information together to form a basic investment strategy for the mass population and provide a high level overview of investing.
During the summer, I am an eating machine. I indulge in brisket, pulled pork sandwiches, ribs, chicken tacos, burgers and anything else that I can cook on a grill. I enjoy craft beer and drink a few of those as well. I really just eat as much as I want and somehow I don't gain any weight. How is this possible?
Well as expected, this all depends on how much you plan on spending. As a frugal retiree you may need as little as $15,000. As a lavish spender, you may need over $100,000. Either way, there is a fairly simple way of calculating what you need saved up.
Numbers have a way of surprising you sometimes. Add a bit of time to them and they can blow your mind. Take for instance the Rule of 72. This is a formula to determine how long it takes for money to double depending on a certain interest rate.
Reactions and changes are caused by catalysts. In my case, the change was thinking differently about time and money and the catalyst was Mr. Money Mustache.
I will admit that Think and Grow Rich wasn’t at the top of my Reading List, but due to the fact that The Magic of Thinking Big wasn't available for digital download from my Library I checked it out. Before I started reading it, I went online searched for reviews for it. It has an average of nearly 5 stars with almost a thousand reviews on Amazon. It is one of the best selling books of all time. Sold.
I recently came up with a quick and easy way to increase my savings rate and put any new possible expenses under the radar. Now, I am sure this isn't an original idea, I haven't read anything about it. It is a very basic idea.
I have gone back and forth 1000 times. Some people are 100% certain, but I can't decide whether or not to invest my extra money or put it towards my house. My wife and I max out our IRAs every year and have been increasing our 401k contributions every raise/year. I will be close to maxing that out this year. So then what? Index funds? Mortage? FU Money?
I really can't stand Dave Ramsey. I am not sure what is. Possibly, his voice or just his demeanor, but he really just annoys the hell out of me, but I would like to thank him.
Be aware of your finances, but don't spend your time on them. That is the route I decided to take. Just like with investing: KISS. Keep it simple stupid. 99.9% of my purchases are by card. Keeping track of cash purchases would take a bit of time and I don't want to spend my hours looking at/for my paper receipts. So I rely on technology.
In 1896, the Italian economist Vilfredo Pareto published a paper that refers to the Pareto Principle. A principle that states that 20% of causes produce 80% of the effects. He developed this principle by noticing that about 20% of the peapods in his garden contained 80% of the peas. That is a pretty basic observation that would soon turn into a very significant one.
'Wait a minute... I am only making 5 bucks an hour?', says the average American after reading Your Money or Your Life. I just worked 3 hours to pay for that sh*tty meal at Burger King?
It is human nature to be lazy. It is so much easier. It is easier to drive to the grocery store than to ride a bike. It is easier to pay someone to mow your yard or shovel the driveway. It is easier to just skip going to the gym. Besides, you have more important things to do like watch that extra hour of TV or stay at work that extra hour accomplishing basically nothing while you half-assedly read through your emails. Right?
Never check your email again, outsource your daily tasks, refuse customers, work remotely, and increase your own company's revenue. Sounds crazy, but Tim Ferris created a book that explains how you can do all of it... and yeah, it was 10 years ago.
A review of the Stronglifts 5 X 5 Workout and what exercises it consists of and how I increased my bench by over 50 pounds in a matter of months.
I will start with the basics. I am a mid-thirty year-old with a wife, 2 kids, and my only debt is my mortgage. My wife and I currently work full-time, but are trying to embrace the ideology of FIRE and frugality.