Why I Like Overdrawing My Checking Account

Why I Like Overdrawing My Checking Account

Once upon I time, a young man we’ll randomly call “Jim” was in college and barely had a dollar to his name… Ok, fine – that young man was me – dang it, you ruin everything!  Anyway, like a good number of college students, overdrawing my checking account wasn’t too uncommon. In fact, it actually wasn’t uncommon for me to blow out my balance on a periodic basis for a year or so after graduating college as well. Eventually, though, I started to make some good progress on my finances over the years and overdrawing my checking account became a pretty rare occurrence, if it happened at all. Over the past year or so though, I’m back to overdrawing the account again.  And

2017 Personal and Financial Goals

2017 Personal and Financial Goals

Disclosure: This post contains affiliate links and we may receive a referral fee (at no extra cost to you) if you sign up or purchase products or services mentioned.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

Saving for Kids – Thoughts to Consider

Saving for Kids – Thoughts to Consider

Disclosure: This post contains affiliate links and we may receive a referral fee (at no extra cost to you) if you sign up or purchase products or services mentioned.When it comes to saving for kids, there are a ton of different options out there.  Should you start a separate account for them somewhere and if so where? Mrs. R2R and I have a 6-year-old daughter and we’re starting to think through this whole problem right now. Here’s what we’ve figured out so far…   First things first Before you do anything for your kids, you need to make sure to get your own finances in order.  If you have any hanging debt (other than maybe your mortgage), you need to address

Year-End Review

Year-End Review

Disclosure: This post contains affiliate links and we may receive a referral fee (at no extra cost to you) if you sign up or purchase products or services mentioned.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

What’s Your Post-Retirement Multiplier?

What’s Your Post-Retirement Multiplier?

You’re reading this article, so you obviously care about your finances.  Hopefully, you’re on track with your money or working toward that goal.  Getting out of debt, saving and investing have been beaten into you by every financial outlet in the world. Maybe you’re even on the path to financial independence or early retirement.  But have you taken the time to figure out what you need by looking at your post-retirement multiplier?   What is a Post-Retirement Multiplier? When I talk about your post-retirement multiplier, I’m referring specifically to a number – the amount of your current expenses as compared to your post-retirement expenses. It might be 0.75 or it might be 1.5, but it’s an important number to be aware of when planning

It’s All About the Expenses…

It’s All About the Expenses…

You’re doing your best to get yourself on the right track with your finances.  You’re working your way out of debt and have turned your eye toward reaching financial independence.  But the media wants you to focus on the money you have coming in.  I want you to focus on your expenses instead. First of all, know that your income is important – no doubt about it.  In my article The Steps to Wealth, the first thing I talk about is getting a high-paying job.  Is that the end-all and be-all in reaching financial independence?  Certainly not, but bringing in a higher salary can make the steps of the journey much easier. However, even if you do have a lot of money coming