I was sitting around the campfire last weekend, enjoying the warmth of the flames and the comforting crackle of burning wood. My cousin, a financial advisor brimming with enthusiasm, leaned over and brought up a topic that’s been buzzing incessantly on social media: Roth IRA conversions. He insisted that I should convert my Traditional IRA…
I originally wrote this about fake financial gurus in Sept, 2021 a few weeks before I retired at age 42. I’ve made some updates to formatting, but left everything else the same. Oh no, not another fake guru talking about FIRE. I have never really paid attention to all the websites and YouTube videos around…
When people hear that I retired a few years ago at the age of 42, their reactions are often the same. They look at me with wide eyes and exclaim, “You’re living the dream!” They talk to me like I hit the jackpot as if my early retirement was a stroke of luck. They treat…
Imagine waking up tomorrow without a job—how long could you sustain your lifestyle before panic sets in? For many, the answer lies in their emergency fund, but determining the “right” amount isn’t always straightforward. An emergency fund is often touted as a financial necessity, but how much you need and what constitutes an emergency fund…
In my conversations with my kids, one topic that frequently comes up is the idea of knowing when enough is enough. It’s a lesson that, while simple, holds profound significance for our happiness. Understanding when we have enough is not just a practical consideration; it’s a powerful mindset that can transform our lives. It shifts…
When it comes to choosing a mortgage, one of the most significant decisions homeowners face is whether to opt for a fixed-rate mortgage or an adjustable-rate mortgage (ARM). While fixed-rate mortgages offer the comfort of predictability with a consistent interest rate throughout the loan term, ARMs provide flexibility that can be appealing, particularly for those…
Should you max out your 401k? It’s an intimidating idea. Before jumping into why you should max out your 401k, let’s step back. If you are under 50, you are allowed to contribute up to $22,500 to your 401k. This does not include employer contributions. It is also the 2023 limit. There are other nuances…
Every business, no matter how large or small, can be compared to a lemonade stand. This simple concept has been the foundation for teaching my son, who is now 7 years old, about money. Ever since he was 4, he has been setting up his lemonade stand, and over the years, it has grown more…
We love to read to our kids and teach them to read. (Admittedly, my wife does a much better job of it than I do, she’s great actually). There are several go-to books that I love to read them. Dr. Seuss’ “Oh The Places You’ll Go” is actually the first book I read to my…
Imagine a financial strategy that can lower your monthly mortgage payments, save you thousands in interest, and bring you closer to the dream of early retirement. Mortgage recasting is a powerful tool that can help you achieve financial independence faster. In this article, I’ll explain mortgage recasting, explaining what it is, when and why you…
Please teach your kid personal finance. The school system barely does. I have not dissected anything since high school. I have not used calculus. Trigonometry and Geometry have added no value to anything in my life. But I have borrowed money, saved money, made money, spent money, and invested money. We all do these things…
How much do you need to retire early is just a math problem. It’s a matter of understanding how much do/will you spend? How much income do you need to cover those expenses. You do not need a Financial Advisor or Financial Planner to solve this math problem. You just need to understand the basics…
I am a firm believer in spending the right amount of money. I focus on price per use to determine the right amount of money to spend on something. My style on the journey to Financial Independence Retire Early is not to be frugal or minimalist. Instead my style is to identify what something is…
