I hate cash. I try my best not to carry it. My children will soon be 16 and 13, and I would like them to experience the freedom of spending their money however they want. If their friends want to stop and get food after a game, they should be able to pull out their… Continue reading Cash for Kids
The main reasons for moving to the Illinois side of Saint Louis were the cost of living and proximity to friendships and family. What I never expected was the possibility that our location would allow for a significantly cheaper college experience for our children. Illinois is home to a few of the top universities in… Continue reading Surprise Benefit of FIRE in Southern Illinois
One of the reasons for FIRE is a desire to have total control over your finances. But, when it comes to paying for college, your hands become tied by colleges deciding how much money you are “able to spend.” We have saved a lot of money to live the rest of our lives comfortably, but… Continue reading 2024 Financial Aid & FIRE
I have been obsessed with tracking my finances since I moved out of my parent’s house. If you do not know how much money is coming in and how much money is going out, you are going to keep your financial situation the same. Personal finance is about understanding your purchases and not blaming yourself… Continue reading The Death of Mint
My early retirement decision was made based on The 4% Rule. If you have a million dollars and you can safely live on $40,000, then you can retire. You can think of it as the 25x rule as well. If you need $100,000 a year, then you should have $2.5 Million at your disposal. The… Continue reading Interest Rates, Inflation, and the Market
I love movies. I want to watch as many movies as I can. I watch a fair amount while running on the treadmill, but most deserve to be watched with your full attention in a large theater. After the pandemic, the only concern is cost. But I am retired with plenty of time in my… Continue reading AMC A-List Math
I’ve made it to 41. On average, more than half of my life is over. The government gives me another 38 years, four less than if I was a female. After my tingles, I spent a little more time thinking about what the rest of my life will look like. You assume that if you’ve… Continue reading Forty-One
As a self-employed person, the one tax you can’t run from is the self-employment tax. Your first $147,000 in wages and net earnings are taxed at 15.3%. This is separate from the income tax you also have to pay annually. Net earnings are the key here. I’m sure many people find made-up expenses to make… Continue reading The Self-Employment Tax
It’s a played-out reference, but retiring is taking the red pill. You question all your previous beliefs and realize you were trying to accumulate money for the illusion of happiness. You can’t hide behind the guise of being a good person by working for your family. You now understand to be a valuable member of… Continue reading The Endgame
The worst point to retire is before a stock market crash. Ok, things are different for me. I’m young enough to start working again if I want, and my wife still has a job that pays well. I’m not looking for sympathy, just insight into the mind of someone managing their money in capitalist America.… Continue reading Losing Your Savings