Money Mindset

My wife and I are celebrating our 35th wedding anniversary this year (and 38 years of being a couple). While on a public ferry in Luxor, Egypt we quizzed each other on the many other ferry boats we had ridden together. We each remembered examples the other hadn’t. It was a fun walk down memory … Continue reading Cashing In On Memory Dividends

Having an emergency fund is foundational to healthy finances and our pursuit of financial independence. From an unexpected car repair to the loss of a job, the primary job of an emergency fund is to help you weather unexpected financial challenges that could derail your financial progress. Depending on your situation, you may have anywhere … Continue reading Self-Insurance: The Second Important Job For My Emergency Fund

I frequently hear on Financial Independence and Retire Early (FIRE) podcasts and read in FIRE blogs that the RE (Retire Early) part of the FIRE acronym should be dropped. They can’t imagine not working, they say, and besides, they enjoy working. I know what they mean. I had my dream job, and I worked it … Continue reading Why You Should Quit Your Dream Job

I’m featured in this article by Noah Sheidlower, Business Insider, Sep 1, 2024 “Not all millionaires have big houses, boats, or fancy cars. In fact, six of them told BI their strategies to grow wealth — and keep it — are the exact opposite. ‘We aren’t flashy with our wealth because money isn’t our ultimate goal,’ … Continue reading Business Insider: Meet the millionaires next door who grew their wealth without a superstar job or get-rich-quick tricks

I was recently interviewed on the EverydayFI podcast where I shared my FI story, how I fully embraced minimalism, became a full-time nomad, and some philosophy on the FI movement and choosing contentment over happiness. Cheers! Link to episode: https://podcasts.apple.com/us/podcast/everydayfi/id1747124575 To learn more about my story check out my About page and my Taking the … Continue reading My FI Story and Why FI Needs the RE

“I want to be happy” was how I replied when asked as a youth what I wanted to be in life. Likely inspired by our country’s Declaration of Independence, I bought into the enticing desire of achieving full happiness. It doesn’t work that way. In the pursuit of a life of bliss, I read several books … Continue reading The Pursuit of Contentment

The (ability to) retire early part is the primary thing that makes the Financial Independence Retire Early (FIRE) community different from all the other personal finance approaches. We CAN retire early, and we as a community should own it. The following chart illustrates how FIRE principles compare to that of other, non-FIRE personal finance voices: … Continue reading FI Needs the RE!

And as a corollary, frugality does not mean deprivation, suffering, or unhappiness. Spending more does not equal more happiness just as spending less does not equal less happiness. While frugality is core to how we achieve FIRE, it does not have to mean a life of deprivation. The FIRE community is too creative for that. Setting … Continue reading Frugality Increases Happiness

The convergence of the widespread use of 401k and similar retirement accounts coupled with the rise in index fund investing has created a Ponzi scheme-like dynamic with the stock market over the past 30+ years.. What is a Ponzi scheme?  From Wikipedia, a Ponzi scheme “is a form of fraud that lures investors and pays … Continue reading Is The Stock Market Becoming a Ponzi Scheme?

Accounting helps businesses track and organize financial information so business leaders can make informed decisions. Similarly in personal finance we all implement some level of accounting to help manage our finances to track, budget, spend, save, invest and file taxes. In a past life I managed multi-million dollar businesses with complex financial statements and taught … Continue reading My Top 10 Accounting Principles for Everyday Life

In a recent episode of ChooseFI podcast (a favorite of mine), a visiting host (Katie, from MoneyWithKatie.com) talked about buying “a very nice car [a pre-owned Porsche Macan with 8,000 miles].” She was quick to acknowledge that this decision was “breaking the cardinal sin of FI/RE” but the main ChooseFI host, Brad, quickly said that … Continue reading Has the FIRE movement lost its way?

Net worth is a key measure of building wealth. I have been calculating my net worth since 2011 so I can see my progress over time, and it’s a really useful tool. Many people are familiar with calculating their net worth: you add up the value of all of your assets (e.g., stocks, bonds, real … Continue reading Calculating Functional Net Worth

When host Regis Philbin asked his game show contestants and audience “who wants to be a millionaire?,” he tapped into a belief many of us learned as children, that a million dollars was the pinnacle of financial success.  I grew up on the rural eastern side of Washington State, and many people I knew were … Continue reading The Meaning of “Millionaire”

On August 28, 2020 at 5:47 pm, at age 52, I declared my financial independence (FI), packed up my personal belongings and left my GS-15 job at the Department of Defense after 9 years of civil service and 20 years of active duty. How was I feeling? As you can see from the below video, … Continue reading Taking the Leap — Living The FIgh Life