What I’m Doing With My Money Right Now

What I’m Doing With My Money Right Now

I’m pretty excited to see that our net worth has grown over $70,000 in just three months since I wrote the post $1 Million Net Worth… Now What?.  It’s great to see my money continuing to grow, but there’s still a downside to it. Most of the money is tied up in the stock market right now and it’s a bull market right now. No one has a crystal ball to tell us if this is only the beginning.  The gains could just keep rolling in for years to come.  It’s also possible, however, that we’re at the top of the market and a recession is just around the corner. I don’t know what’s going to take place in the

Financial Regrets That Slowed My Path to FIRE

Financial Regrets That Slowed My Path to FIRE

Financial regrets, I’ve had a few… As I guy in my early forties, I sometimes take a moment here and there to reflect on how my path in life has gone.  I don’t dwell – I just try to look back at my mistakes and learn from them to make for a better future. And maybe the “regrets” part of “financial regrets” is a little excessive.  If you’re a regular follower of my blog, you know that we’ve recently surpassed the million-dollar net worth mark. We’re in good financial shape right now and now we’re just continuing down the path we’ve been going to expedite our mission and reach financial independence as soon as possible. However, there are some things that, if done differently, could have put

The Secret Ingredient to Making Money With Real Estate Rentals

The Secret Ingredient to Making Money With Real Estate Rentals

Let’s be honest, the idea of making money with real estate is intriguing.  Even if you haven’t gotten into the real estate game, you likely know or have heard that rental properties can be a great investment. There are some great advantages to owning rental property, but is there really a secret ingredient to making money with real estate rentals? There’s definitely an essential secret sauce, but here’s the deal – it’s not really that much of a secret.  In fact, you’ve probably heard it before… You make your money when you buy your rental property. And by that I mean, if your end game is to be making money with real estate rentals, your calculations need to be correct out of the chute or you’re probably

Protecting Your Assets

Protecting Your Assets

So, you’re going down the right path on the road to financial freedom slowly but surely, but you want to make sure that you’re protecting your assets in the meantime?  Well, hopefully, this post will help you with some ideas! I’ve noticed that as I’ve started to build up my assets, my needs have started to morph as well. I now have rental properties, multiple LLCs, and growing and expanding savings, investment, and retirement accounts.  And, as the accounts continue to grow, a lot of the money is starting to work more for me instead of the other way around. But, I now have a lot more to lose than when I first started down this journey.  Making sure that I don’t

2017 Personal and Financial Goals

2017 Personal and Financial Goals

Well, it’s 2017, which means it’s time to take stock of how your previous year went, but more importantly, you should set your sights to the future and get your personal and financial goals put in place for the year. Here are my plans for the year… My 2017 Financial Goals   Buy another rental property Buying rental property is an important stream of passive income that I’m working on building.  Currently, we own a couple of rental properties – a single-family house and a duplex.  They’re both filled and the duplex brings in a much better cash flow, but either way, I’m happy with the direction things are going. But now it’s time to expand.  One of my financial goals in the long-run is

Year-End Review

Year-End Review

Well, this is it – the last post of the year.  I hope all of you had a great holiday and are looking forward to the new year!  I thought this would be a good time to do a year-end review and look back at what I got accomplished throughout the year (and what I didn’t!). Let’s start with the 8 Financial Goals we had set at the beginning of the year for ourselves… 1) Build back up our online savings After the 25% we put down on the duplex we bought at the end of last year, our savings we had was pretty much depleted.  We don’t have any consumer debt, so other than contributing to investments, paying regular bills