Here’s What to Do After you Crush it and Retire Early

Way to go!! You buckled down and are able to retire early! Now what? Here - we paint 2 great pictures of the best possible outcomes - then leave it to you! #retireearly #finance #travel #homestead #snarky

Well, congratulations… You did it! You called on all the great frugal tips, created the perfect family budget, and took advantage of all the best tax credits. And because of all your hard work, you achieved the dream – you earned the right to retire early! Congrats!! …But now what?   If you’re one of the prominent FIRE (Financial Independence Retire Early) bloggers/proponents, you’ll then go on to travel the world, live in either a sailboat or an RV, and blog about all the highs and lows of “living the dream!”   Or maybe you won’t…   You could go the other route of being “debt free including the mortgage”, plant some routes, and set up a co-op workspace for all the local entrepreneurs in your activity-rich town of choice.   But – you’ve worked so hard to reach FIRE and now have to completely evaluate all the pros and […]

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Eliminate ‘bad debt’ (financial pillar #4)

Check out the complete list of Financial Pillars Here   Excessive use, or misuse, of debt is 1 of the top 5 reasons people go bankrupt. Bad debt can also be the harsh instrument by which your paycheck’s take-home, for example, goes from $1,200 to $500 (car payment, credit card balance, a monthly payment on furniture, …). The #1 way to fix your problems with bad debt is to NEVER, under any circumstances, let it into your life.   For some of us, unfortunately, bad debt is already in and roaming around our homes, apartments, and vehicles. What we’ll do here then, is this:   -Review how to distinguish bad debt from good (yes, there is such a thing), -Evaluate ways to eliminate any bad debt already accumulated, and -Make certain we have a plan in place to keep bad debt out of our lives for good.   What separates bad […]

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We Had a Huge Financial Crisis, Now What?

  The 2007-‘09 housing market collapse sent our economy into a tail-spin. People lost jobs, companies went out of business, and many nest eggs got cracked. CNN reported that from 2007-’09 American households lost a net of $16.40 Trillion (With a ’T’), or an average of 25% of a family’s net worth.   The effects were terrible and wide-reaching. Although the stock market did make a more-than-full recovery within the next few years, many were still left behind. People were unemployed, under-employed, or just terrified to invest again. So, although the economy was ‘recovering,’ many individuals didn’t (and still don’t) see or feel those improvements.   Personally, by mid-2007 we had saved close to $30,000 for a down payment on our house. In ’09 that got cut to about $15,000. We were young and invested aggressively so the crash hit us HARD (50% hard…).   After gradually dipping a toe at-a-time […]

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