Financial Independence / Retire Early (FIRE)

$1.3 Million Net Worth… Yet Scraping By Right Now

$1.3 Million Net Worth… Yet Scraping By Right Now

Anytime you can throw the words “million net worth” into a discussion, the words “scraping by” shouldn’t follow. It just doesn’t fit the bill. Now before I continue, let me say that we’re fine, but we ran into an interesting financial problem that has messed us up this year. And, of course, my job is to share that with you so you can make sure you don’t run into a similar small dilemma. I’m always very forthcoming regarding our money …

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The Financial Impact of Moving Back to the U.S.

The Financial Impact of Moving Back to the U.S.

2020 has been one helluva year, hasn’t it? For us, this pandemic could be the sole catalyst in our possibly moving back to the U.S. from Panama. Not only did our first year there get severely hindered by this mess, but it might also be the reason we don’t go back for a second year. That’s a tough enough pill to swallow considering how much we were enjoying our time there. But life happens and you just gotta adapt accordingly. …

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How I Got Over $181,000 of Free Money for Retirement

How I Got Over $181,000 of Free Money for Retirement

I had a thought recently that made me wonder how much free money for retirement was given to me during my last job. My former employer was always generous in taking care of employees through the 401(k) plan offered. So just how much of our net worth could be attributed to that facet of saving? I dug up my old 401(k) statements and expected the need to spend a lot of time breaking things down and then adding up all …

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Life Insurance in Early Retirement… Cancel or Keep It?

I just paid the $335 annual premium again for the term life insurance policy we have in place on Lisa… same as I do every June. Then every January we pay the $673 annual premium on the term life insurance policy on my head. We’ve paid $1,008 out of our pockets every year since 2010. That’s over $10,000 spent on something we haven’t gotten anything out of at all. Our 20-year policies expire in the year 2030 so that’s another …

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Is This Stay-at-Home Thing a Taste of Early Retirement?

Stay at home.  Those might end up being the most spoken words of 2020. This COVID-19/Coronavirus pandemic has caused a whirlwind of change in an instant.  Businesses have had to figure out how to adapt quickly or close, unemployment has reached record numbers, and social gatherings have all but disappeared. On top of all that, a large number of people have suddenly become telecommuting employees.  And many surprised parents became homeschooling teachers at the drop of a hat. Some people …

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Early Retirement with Kids Is Wonderful... but Frustrating

Early Retirement with Kids Is Wonderful… but Frustrating

Reaching early retirement in 2018 at 43 isn’t something that a lot of the population is interested in or trying to pull off.  But change that to being in early retirement with kids to raise and that puts us in even more of a niche. We have one child, our daughter Faith, who’s a great kid.  She’s 9 but acts like a really short adult most of the time.  That probably makes life a little easier for us and we …

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The Recession - The Ultimate Test for Early Retirees

The Recession – The Ultimate Test for Early Retirees

Well boys and girls, like it or not, we’re soon to be in a recession – if we’re not there already. The COVID-19/Coronavirus pandemic appears to be the black swan event that became the catalyst for the downfall of one heckuva long bull market. To try to contain the virus and flatten the curve, many businesses were ordered to shut down temporarily.  In many places, bars, wineries, breweries, and restaurants (sometimes with the exception of takeout or delivery) were forced …

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Only You Can Change Your Life… Seriously!

Only you can change your life.  Only you can change you. I was jogging back from the gym the other day and it reminded me of something.  I absolutely hate going to the gym.  I’ve talked about it before, but I do – I hate it. So then why do I do it? Because I want to be a better me. That’s it.  That’s the only reason.  It would be so much easier to sit on the couch and drink …

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Is FIRE the Finish Line or Just the Beginning?

Looking back on my own path to financial independence, I treated the whole thing like a race in my mind.  Reaching the finish line was the utmost important goal. As I continued to make more money every year through raises, I saved more and more.  But the other side of the equation is cutting expenses… and cut expenses we did! In my mind, if it wasn’t a necessity, I really had to think about if it made sense to spend …

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FI and Early Retirement… Could It All Come Crashing Down?

I’m not going to lie – being FI (financially independent) is a truly awesome feeling.  To realize that you don’t need to work again if you don’t want to takes such a massive weight off of your shoulders. But if you take it to the next level and throw in early retirement, you’re now solely depending on whatever you’ve put in place to sustain that financial independence. That’s scary.  No, I mean, that’s really scary. If you continue to work, you …

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