I bought my first house in April 2012. We paid $185,000. Our loan was for $177k at 3% for 15 years. We hated debt, made decent money, and at some point set a goal to pay this mortgage off in about 5.5 years. It was an FHA loan, which required dreaded Mortgage Insurance (MI) payments, … Continue reading The Mortgage Paydown Dilemma
investing
Being Rich vs Looking Rich
When you think about the richest people you know, you likely imagine those living in huge homes, driving expensive new cars, and spending big money on vacations/entertainment. Isn't it funny how we associate spending money with having money? But how else are you supposed to know the wealthy from the broke from the outside looking … Continue reading Being Rich vs Looking Rich
My quick plan for financial independence
My goal for FI is $1.2 mil net worth. I'll call $1.2 mil my "number". My primary residence is excluded from my number, since it doesn't produce cashflow while living in it. I'm also not including any stock we hold from old privately-held employers. I hope we can cash those out someday but have no … Continue reading My quick plan for financial independence
Why I hate trading stocks
Over the last few years, I've occasionally wished that I had bought big into Amazon, Apple, Bitcoin, or something else with explosive growth. I keep most of my money in cheap index funds like VFIAX, VFWAX, and VTSAX. VFIAX is the S&P 500 fund. Here's how the results of $10k purchases 2 years ago compares for … Continue reading Why I hate trading stocks
How much should I contribute to my 401k?
One of the more frequent questions I get from friends is "how much should I contribute to my 401k?" While there is not 1 right answer for everyone, there are a few things everyone should consider. Also consider that 401ks are still relatively new in the investment world. They've only been around since about 1980, … Continue reading How much should I contribute to my 401k?
How fees can ruin your retirement
The banking and investment worlds are full of fees. I really learned this while working at Wells Fargo. Boy did they charge fees! Some avoidable, some inevitable. Just want a checking account (no savings or credit card)? $10/month fee. Sending a wire transfer? $35 fee. Receiving a wire? $15 fee. Want your credit card to … Continue reading How fees can ruin your retirement
What I wish I knew about money 10 years ago
I'm 31 years old. Still pretty young to consider "retiring" in 5 years, right? Well, if I understood money at age 21 like I do now, I suspect I would be hitting my retirement number in 1-2 years. Reaching financial independence can be simple if you start young. I don't think I made a lot of … Continue reading What I wish I knew about money 10 years ago
Don’t be scared to invest
My goal of this post is to give readers confidence that their money is safe by investing long-term in the stock market. I think we've all heard someone say "My {insert relative or acquaintance} invested in the stock market and lost everything, so they refuse to buy stocks again." Some of those people will say … Continue reading Don’t be scared to invest
A Realtor’s take on Real Estate Investing
I am a Realtor by profession. Most of my business is in helping people buy and sell a primary residence. I work with a few investors and a few companies with their commercial office spaces. When I talk about "investing" or personal finance, a lot of friends and associates immediately think I'm pushing product and … Continue reading A Realtor’s take on Real Estate Investing
When to stop saving and start investing
I've said before that I've always been a saver, but only recently I've started become an investor outside of retirement accounts (IRAs and 401ks). Saving and investing are often used interchangeably, but I get a lot of questions from inexperienced investors on how the two should fit into their lives. Whether or not you hope … Continue reading When to stop saving and start investing
Salary Optional 