Debt Archives - Route to Retire

Teaching Kids About Money – Valuable Lessons Instilled

14 Comments / Debt, Education, Financial Independence / Retire Early (FIRE), Investments, Kids, Saving, Spending / By Jim @ Route To Retire / March 30, 2021 March 31, 2021

Relying on schools to educate your kids about personal finance is generally not going to be a smart move… most schools don’t even have a curriculum to teach them the basics. When it comes to teaching kids about money, the onus falls on you. That’s good news because you have an opportunity to ensure that your children are learning the right information. Just as many parents haven’t been educated about personal finance, many teachers themselves haven’t been either. If you …

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Owning Rental Properties Is Smart, but I’m Out, Jack!

36 Comments / Debt, Investments, Real Estate, Saving, Taxes and Financial Planning / By Jim @ Route To Retire / February 9, 2021 February 3, 2021

That’s right, folks – after owning rental properties since 2003, I’m now completely out of the game! In 2018, I sold the house I had bought as an investment property in 2003. And just a couple of weeks ago, we closed on selling the duplex we had purchased in 2015. Here’s the weird part – if you’ve been following my blog over the years, you know that I’m a strong advocate of owning real estate rentals. Each property can provide …

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Is It a Smart Idea to Pay Off the Rental Property?

36 Comments / Debt, Investments, Real Estate / By Jim @ Route To Retire / August 11, 2020 August 11, 2020

I’ve been salivating over these insanely low mortgage rates out there right now. But I never even thought that another option might be to just pay off the rental property. Today I want to tell you about how I went from unsuccessfully trying to refinance to considering that maybe I just pay off the rental property. It even involves a discussion with the one and only Clark Howard! There’s always discussion in the real estate world about whether it makes …

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We Got Turned Down for a Credit Card… Ok, Four!

16 Comments / Debt, Spending, Travel and Vacation / By Jim @ Route To Retire / December 10, 2019 February 3, 2020

Yeah, getting turned down for a credit card isn’t a good feeling. It doesn’t matter that Lisa and I each have credit scores of over 800. It doesn’t matter that we have plenty of credit cards already and don’t really need another. We also have more of an unused credit line spanned across all our cards than we’ll never need. And then, of course, there’s that little piece of info that we’ve saved up enough money that we never have …

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This Bad-@#$ Expenses Spreadsheet is My Gift to You

14 Comments / Debt, Saving, Spending / By Jim @ Route To Retire / October 15, 2019 February 3, 2020

I’m super excited about a new expenses spreadsheet I’ve been working on that I think you’re gonna love. And this ain’t just any old expenses spreadsheet – it’s focused on your recurring expenses. If you’re like me, you’re familiar with those times when you make a big purchase and have buyer’s remorse shortly after. It happens. But those are the easy cases – it’s a one-time purchase and it’s staring you right in the face. The tougher problems to solve …

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Choose FI: Your Blueprint to Financial Independence

2 Comments / Debt, Education, Financial Independence / Retire Early (FIRE), Geoarbitrage, Investments, Product and Service Reviews, Real Estate, Saving, Self-Employment, Spending, Taxes and Financial Planning / By Jim @ Route To Retire / October 1, 2019 October 1, 2019

I don’t normally write book reviews on this blog, but I’m making an exception for the new Choose FI book. I was expecting my opinion to sway one way with the book but my impression after reading it went in a completely different direction. Chris Mamula is the author of Choose FI: Your Blueprint to Financial Independence (along with coauthors Brad Barrett and Jonathan Mendonsa). If you’re not familiar with Chris, he retired in 2017 at the young age of …

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My Credit Score Dropped – Should I Worry?

12 Comments / Consumer Protection, Debt / By Jim @ Route To Retire / March 26, 2019 March 9, 2020

Should I be concerned that my credit score dropped recently? I mean, after all, your credit score helps financial institutions define your reliability in the world of finance. It’s like your report card to see how you’re doing. A great score likely means you’ll get better rates when applying for a loan. A bad credit score usually equates to a higher rate – if you’re able to get approved at all. I’ve always maintained a good score, even when I …

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After 20 Years on Quicken, I’m All-In on Personal Capital

32 Comments / Debt, Product and Service Reviews, Saving / By Jim @ Route To Retire / February 26, 2019 March 9, 2020

I’ve been using the Personal Capital financial software now for the past few years. However, I’ve only been dipping my toes in with it… until now. Quicken’s been my go-to software for just over 20 years. I stumbled on it back in 1999 when I first started at the career I just retired from. I was hired in as an engineer to fight the scary Y2K bug and Intuit was giving away their Quicken 98 software for free as a fix to …

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Money Throughout My Life

17 Comments / Debt, Financial Independence / Retire Early (FIRE), General Thoughts, Saving / By Jim @ Route To Retire / October 16, 2018 September 24, 2019

Money. We all know its importance or you wouldn’t be reading this post. Whether you like it or not, it’s what the world runs on. You could opt out of playing the game and become a hobo, but there are very few of us that can live happily ever after in that position. You can’t let money rule your life, but it’s important to understand its role. Once you can control your capital instead of it controlling you, you’re one …

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There is a Secret Formula to FI, But It Ain’t No Secret!

18 Comments / Blogging, Debt, Financial Independence / Retire Early (FIRE), Investments, Motivation, Saving, Spending / By Jim @ Route To Retire / July 17, 2018 September 24, 2019

Everyone likes a secret, but a secret formula? Even better! Now that we’re only a few months out from me quitting my job, we’re starting to share the news more with friends and family. A lot of them seem to be a little confused, but then we talk about our planned move to Panama and it takes most folks to a level beyond comprehension. Eventually though, we tend to get past that initial shock. And then the “bold” ones out there …

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