By early 2017, we had finally built our net worth up to over a million dollars. It was a great feeling to reach that milestone, but it didn’t really change things for us – we just continued to follow our plan. When I left my job at the end of 2018, we had a net worth of about $1.1 million and, thanks to the bull market still pushing ahead, it’s roughly $1.2 million right now. I’ve written a few posts talking about the relevance of the infamous $1 million number: $1 Million Net Worth… Now What? Is One Million Dollars Enough to Retire On? Being a FIRE Millionaire Doesn’t Mean You’re Rich Some folks look at that as an amazing
My nephew recently started reading this blog and it got me thinking. What would be valuable information for him as a reader? What do I wish I knew when I was younger? He’s almost 20 years old and he just started a career in construction probably close to a couple of years ago. At his age, I know I wasn’t very smart financially. Don’t get me wrong – I thought I was, but looking back, I made some stupid decisions. So, like any old man, I almost feel obligated to pass along some of the knowledge I wish I knew back then to help him out. And yeah, 43’s not that old, but I’m not getting any younger! Do you
Selling a house. Selling our house. It sounded easy enough and we needed to consider doing that as part of our plan to move to Panama next summer. We thought about keeping it and renting it out, but after discussing the options with our financial advisor, it actually made more sense to sell it. We have a lot of equity in it and we’ll need that money to cover our first five years during our Roth IRA conversion ladder. That said, we’re not moving to Panama until next summer so we can let our daughter finish out the school year. So why not wait and just sell the house in the spring? That was initially the plan, but with the real
3 years. That’s what this blog post marks… three years of blogging on Route to Retire. For new bloggers, this might sound like a long time. However, I look at some of the others out there who have been doing this for over a decade – like J.D. Roth at Get Rich Slowly or J. Money at Budgets Are Sexy. It’s then that I realize I’m still somewhat of a rookie in the blogosphere. I’ve consistently posted a minimum of once a week (haven’t missed a week yet!) and I’ve seen a steady increase in both readers and blog income. On last year’s anniversary, I talked about what I’ve learned about blogging. That seemed to help a lot of newer bloggers out.
Buying an investment property might be one of the smartest things you can do… if you do it right. Most of my money is in the stock market because of the ease of investing in it, the company match offered, and other incentives. However, I don’t fully trust it. The biggest reason why is that you don’t really have control over what happens. Sure, you can choose your specific investments, but it’s not up to you to determine if that stock will go up or down. When you’re buying an investment property, though, you have the ability to determine your own path. If you understand the numbers, you can put yourself in a position where you’ll likely be successful. We
Ah, property management companies – the answer to anyone wanting to get into real estate without the headaches, right? The thought makes sense. Rental properties are a great way to help diversify your investment portfolio and earn a solid cash flow. The only problem… managing the properties. Now, some folks like the idea of running the operation and handling any repairs themselves. The good news is that they tend to make more money on their properties every month since they’re doing all the work. However, not all of us want to do this. The other side of the coin has the masses that just want the investment for the returns it can provide. These folks want someone else to handle