Financial Samurai » Motivation

Buying Blogs, Selling Blogs: How I Built My Blogging Business

admin — Wed, 21 Jul 2010 09:00:54 +0000

This is a guest post written by Mike, a financial planner / web entrepreneur who is pursuing his dream of running his online business. You can follow his progress at The Financial Blogger (RSS Feed) and read his other financial blogs at Green Panda Treehouse (RSS Feed) and Intelligent Speculator (RSS Feed).

3 years ago, I was told by many bloggers: “You will never make money blogging. And if you do, $200/month will be your highest peak ever”.

Three year ago, The Financial Blogger was averaging 500 visits per month and I was ecstatic when I made my first deal of $10 for a link.

Three years later, I now run three financial websites, bought 2 of them and flipped a blog within a year. I am now able to work 1 full day per week on my online business (while I still have to keep my “day job” in the meantime). I really like buying and managing finance blogs as I think it is currently one of the best investing opportunities we can find.

When I asked Sam if I could write a guest post for Financial Samurai, he asked me to include more details on how I appraised blogs and how do I decide or not to send $10K over the wire (or more!) simply to buy a “.com”.

Look at Blogs as a Real Estate Investing Opportunity

When I first started my blog, I went into a partnership with one of my friends (who is the co-founder of our company). He has been in the website industry since the 90s, well before the .com bubble. He told me to picture a rental property in order to understand how a website can generate income and how it should be valued. He actually wrote an interesting piece about the difference between real estate investing and website investing recently.

His main point is the following:

When you value a rental property, you will most likely pay between 10 to 15 times the yearly revenue. Therefore, if the property generates about $40,000 in rental income, you will pay between $400,000 to $600,000 to purchase it.

When you value a website, you will most likely pay 18 to 24 times the monthly income. Therefore, your investment return can easily reach 50% the very first year!

While both type of properties will generate monthly income, the first one will be paid over 20 years (if not more) and the latter will take less than 2 years to be reimbursed. So now that I have proven that there is a great investing opportunity, how do you value a website?

A few months ago, we purchased Green Panda Treehouse. This is a great personal finance blog aimed at young college graduates to help them manage their personal finances. Since I am still in my 20s, I thought it would be great to add my financial expertise and write more about topics such as asset allocation for beginners or tips for first home buyers (since I have a banker background). So let’s take this example:

How Did We Value Green Panda Treehouse:

There are several metrics when we are about to purchase a website. So before we even start with the calculations, we are looking at minimum requirements. The site must be:

- At least 1 year old (in order to have valid traffic data and to have it recognized by Google).

- Minimum of 10,000 visits per month (it’s easy to build a blog with 3,000 visits/month, since we are looking to save time, we need a good visitors base).

- Minimum of 50% of visits coming from search engines (we don’t want to have boosted traffic from social media since those readers don’t stay long on your site, don’t click on ads, don’t comment and don’t register to any of your RSS feeds).

- Minimum of 300 RSS readers (just to make sure you have a community following you).

- Must not be a Page Rank 0. PR0 websites means that Google doesn’t like them. While I don’t give very much weight to PR, I just want to make sure it’s not 0 because I don’t want my blogs to be penalized by the search engine.

- Must be under monetized. While I am not the biggest pro in monetization, I like to find blogs that are under monetized according to my knowledge. It gives me confidence that I will be able to get my investment returns faster than 24 months.

Green Panda Treehouse met all those pre-requisites. Therefore, we went ahead and did some calculations. Since the site was big (around 10,000 visit/month) but not huge (over 35,000 visits per month), we were able to apply the 18 to 24 months of income rule. For bigger websites, you certainly have to add a premium for the brand, size of community and future income potential.

How do you assess income?

Before putting a number on a website, I like to look in-depth at the different sources of income. I don’t like blogs that are dependant on just one source of income (commonly Adsense or Text links). This makes the business risk greater than well diversified income sources.

In fact, there are a lot of income sources for a blog and I would like to see all of them (in various proportion) such as:

- Adsense

- Text Link

- Banners

- Affiliates

- Products (ebooks, services, paid newletters, etc.).

The more diversified the sources of income, the more I will be willing to give 24 to 36 months of income (since you can really consider it as a business and not a small sideline).

You can have additional weight if you have been monetizing your blog for several months. If you can show an uptrend for more than 6 months, you can definitely talk about potential future growth. If not, I think the word potential is overrated in the internet world. Everybody talks about “potential” but nobody develops it because “they don’t have the time”… right!

Other particulars

There are a few particulars to look at before buying a website. This is more looking towards what you are looking for and what you want to buy as a blog. You can look at the following points before you start shopping:

Niche Content

Do you want to talk about personal finance in general or a specific aspect such as frugality or investments? Obviously, an investment blog will be worth a lot more because advertisers will pay more to show investing products versus coupons.

Popular posts

I’ve seen some blogs getting 30 to 40% of their traffic from only 2 or 3 articles. You want to make sure that you have several popular articles in Google so you can count on a steady traffic base. If most of your pages viewed depend on 1 or 2 keywords, chances are that most of your income depends on the very same words. Therefore, it adds to the risk.

Restrictions

Some blogs are very personal and related to its author. While this can be the purpose of a blog, there are some blogs where readers are less attached to its author than others. While you want to have a strong community, you don’t want it to be too strong either. A lot of readers may leave if you don’t have the same writing style or train of thought of the previous owner.

Some also consider offering a writer’s position to the previous owner to make sure they keep their readership (We kept Stew who was writing 3 times a week on Gather Little by Little for example). It’s not a bad idea at first since it gives you the time to “break-in” your new readers.

Does buying/selling blogs constitute a good business model?

I personally believe that there is a huge investment opportunity in the blog management business since we are currently in a very inefficient market. Since there are not a lot of buyers and that blog valuation is still complex and a standard method has not yet been determined, there are several gems available for a very small price. Our most recent purchase; Green Panda Treehouse was a perfect example.

On that note, if you ever consider selling your blog or if you have any questions regarding blog valuation, don’t forget to shoot me an email at thefinancialblogger (at) gmail (dot) com!

Other resources:

I’ve written a few other articles about how to value and to buy another blog, you can read them here:

How To Buy A Blog in 3 Easy Steps

How To Buy A Blog Step 2: Assess the value of a Blog

How To Buy A Blog Step 2: Assess the value of a Blog Part 2

How To Buy A Blog Step 3: Finalizing the Transaction and Integrating the community

Also, if you want to learn more about how to buy, build and sell a blog, I suggest you register to my free newsletter where I discuss how I am building my online company one blog at a time!

Three Keys To Motivation And It Has Little To Do With Money

admin — Mon, 05 Jul 2010 09:00:41 +0000

Here’s a short 10 minute video I stumbled upon which eerily highlights several things I do and why (ie play guitar), as well as touch upon reasons why some people are willing to do things for free, and others strongly consider giving up big salaries to just work on a hobby.

NODDING MY HEAD

I find myself agreeing with pretty much everything the video has to say. Money has become a secondary motivational factor for me over the past several years. Something just happened where I’ve become satisfied in making what I make, oh my! Sure, I have a “make $1 million bucks” goal for 2010, but that’s really just one of those fun, see if I can do it goals. Autonomy, mastery, and purpose are things I look forward to now.

Progress is a wonderful feeling, which is why I try and play a musical instrument and sing in my free time. Music also helps fill the void when I’m injured due to sports. Going from not knowing the chords and the words of a song, to mastering a tune from memory that’s good enough to record is an unbelievable sense of accomplishment. I’ve been working on getting the finger picking of Pearl Jam’s “Just Breathe” for the past month, and I can’t seem to get it right. But dammit, I’m going to keep practicing because it’s such a beautiful song!

After you have a certain amount of money and experience, you definitely want autonomy. You’re no longer a fresh college grad that is constantly micro-managed by senior colleagues. A sure fire way for a company to lose a star employee is to restrict their freedom and ignore their good work. Blogging is an incredible example of autonomy. Nobody is going to tell me what to write and that’s so liberating. I’ll thrive and fade with my decisions alone.

Purpose is something that can either be questioned before you start your journey or after. You can be a high school or college student who has no freaking idea what you’re supposed to do in life. Or, you can be a 20 year veteran in the workforce who has built a great resume, as well as financial security, but realize you’re middle aged now and wonder if there’s more to life since you’ve already conquered insecurity, be it financial or otherwise.

The purpose of this site was never to make money. The purpose was to just create something tangible that serves as a creative outlet for someone who was once creative. I want to be that kid in pottery class again, molding that wet clay on a rapidly rotating swivel stick.

Readers, what are several motivating factors for you in your life or in your job? Have you noticed money increase or decrease in importance as a motivational factor?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

Isner vs. Mahut: The Greatest Match In Tennis History

admin — Mon, 28 Jun 2010 09:00:18 +0000

As a tennis fanatic, it would be remiss of me not to mention the greatest match in tennis history when American John Isner beat Frenchman Nicolas Mahut 70 to 68 in the 5th set last week. That’s right 70 games to 68 games in the fifth set because one must win by two in the fifth set at Wimbledon. The 11 hour, 5 minute match spanned over 3 days and finished when John Isner hit a solid down the line two-handed backhand to seal the deal.

The previous record for longest match was at the 2004 French open, lasting now just a paltry 6 hours and 33 minutes. It is completely unfathomable that a match could last so long, simply because it is unconscionable how Nicolas Mahut could hold serve over 60 games in a row to survive! The physical endurance is one thing, but what’s most impressive is the mental fortitude both players had to never give up.

LESSONS LEARNED

1) Anything is Possible. If someone were to say that a match would go 30 all in a 5th set, I would say “NO WAY” and probably confidently bet my life savings and my lucky underwear! Even if someone asked for 20-to-1 odds ($10 to win $200) to bet that it could happen, I’d still call them crazy and happily take the other side. I’d probably bet up to $1,000 and then proceed to lose $20,000! Now I’ll think carefully when I hear impossible sounding feats. Anything is possible!

2) Standards Always Go Higher. When Roger Federer defeated Andy Roddick 5-7, 7-6 (6), 7-6 (5), 3-6, 16-14 in the 2009 Wimbledon final, we all thought that was one of the greatest finals in history and that a 16-14 score would never be breached. Fast forward to 2010, and Roger and Andy’s match sounds downright mediocre. The same goes for anything we do, be it creating a product, or being a solid employee. Standards don’t go backwards, they go forward. We’ve got to continuously innovate and try harder.

3) Everything is Mental. At some point, you know that the bodies of John and Nicolas were screaming to stop and give up. But, with the crowd of thousands cheering them on, they started to zone and battled away cramps and fatigue to last a marathon. Personal finance, physical fitness, blogging, work performance and everything is all mental. If you have the right mindset, you will likely succeed in anything you try. If for a second your mental fortitude breaks down, it’s game over. You’ve got to want it like no other.

4) Consistency is Key. John won because he hit one more ball in than Nicolas. If you workout three times a week for 52 weeks in a row, it’s pretty much a sure thing you’re going to be much more toned than if you maintained an erratic schedule. If you post 2-4 times a week on your site and get to know one new person online a week, there’s no doubt your blog will grow. If you get into the office first, and leave last every single work day, you will move ahead in your career. The list is endless. Stay consistent, and watch everything start going your way!

5) Pace Yourself For Long Term Success. A day after John’s match, he lost in just 72 minutes 0-6, 3-6, 2-6 to unknown Thiemo de Bakker. John’s serve was 20 mph slower than average, and he just didn’t have any energy left understandably. You don’t want to go from playing the longest match to the shortest match. Volatility is generally not good for your career or any venture you take. The biggest risk we can take is taking no risk at all. If we burn out before reaching our potential (See “The Dark Side Of Early Retirement“), it’ll be just one darn shame. Balance out your work and your life, but at the same time stay consistent as well.

CONCLUSION

Chances are high that we’ll never be world class athletes or CEOs of mega-cap companies. That said, we should always learn from people at the top of their game to boost our own. In “The Mental To Physical Connection For A Healthier Lifestyle“, the article recommends we use sports or general physical activity to balance out work and our creative sides. It’s important to be tethered to a counter force so that we don’t burn out. If we can stay consistent with whatever it is we are hoping to achieve, there’s no doubt progress will be made!

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

Staying Calm Under Pressure

admin — Sun, 20 Jun 2010 13:41:50 +0000

Even at 7:30pm the night is hot. That’s what happens when you go barbecuing somewhere in the South Pacific in the middle of summer. You can almost taste the grilled chicken from the remnant fumes simmering off the grill. Dinner is served!

The family gathers around the picnic table. We take a deep breath and begin to eat. In just the first bite, my father freezes, tries to swallow and let’s out a little gag. We ask him what’s wrong, and he shakes his head not knowing. One of us gives him a glass of water, and still, no change. My father raises up his hand, excuses himself and says that he has to go to the emergency room.

DOUBT AND CONFUSION

Is it really that bad I think to myself? It’s not like he was convulsing or anything. “Shall I drive Dad?” I ask.

“Nahh,” he responds and tells me to enjoy my meal. Dad lumbers to the car and drives his usual slow self away, careful not to run any stop signs.

Five hours later at about 12:30am I hear a car pull up to the driveway with a loud car door thud seconds later. The brakes, oh how those brakes squeak, reminding us to replace. I rush downstairs and ask Dad if everything is OK. He pulls out a little plastic vile, starts to jiggle it back and forth, and reveals a prideful grin.

“What’s that Dad?” I ask incredulously.

“This son, is a site to see!” as he opens up the vile and pulls out a piece of gauze. “Come look closer.” As I inched my way closer to the vile I noticed something long and grey. “This son is a once inch steel bristle from the steel brush we used to clean the grill! It was lodged in my throat!”

“Holy sh*t Dad! You weren’t kidding when you said you needed to go to the ER.”

“Nope.” My dad then proceeded to carefully lay the metal bristle back on the cotton gauze, and back into the vile. Like saving a bullet from a bullet wound, Dad will always save this thorn.

INDEPENDENCE

Many of us really thought he was faking his injury because of his demeanor. It was almost surreal how calmly he excused himself from the picnic table. If you had an inch long metal bristle piercing the front side of your throat, and couldn’t swallow, what would you do? I’ve had contact lenses disappear into the back or the bottom of my eye sockets and I’m in a frenzy.

Dad would be the perfect candidate to shoot a real life Animal Planet commercial on what TO DO when a grizzly bear attacks. Without witnessing countless examples of his Zen-like responses, I’d be less balanced. My face would probably contort more when people are late, and I’d probably panic more at things outside of my control. For this, I’m thankful.

Of all things, independence is what I’ve learned most from my father. He gave me the leeway to do whatever I wanted in life, all the while exposing me to a myriad of his interests, so that perhaps some would rub off on me one day. He never forced me to choose, but instead gave me the freedom to make the right choices. He showed me not to count on handouts and to believe in myself. When he drove himself to the emergency room and waved us off, I was reminded of independence once again.

Thanks Dad and Happy Father’s Day!

Readers, what are some of the things your father have taught you in a direct or indirect way?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

Overcoming The Wall

admin — Mon, 14 Jun 2010 09:00:46 +0000

If I’ve learned anything in the work place, it’s that most people simply want recognition for a good day’s work. Pay and promotion are secondary to a simple gesture of a pat on the back or a “well done.“ Yet, why is it that praise is so often lost in the shuffle? When just saying “thank you” is so easy and cost effective, silence often replaces.

I remember going through a rough stage in my career where I felt invisible. Like Ralph Ellison’s protagonist in the Invisible Man, even with 1,369 light bulbs shining brightly around his basement room, he still felt like nobody noticed.

“I am a man of substance, of flesh and bone, fiber and liquids – and I might even be said to possess a mind. I am invisible, understand, simply because people refuse to see me.” This quote has stuck with me for well over two decades since first reading Mr. Ellison’s 1952 classic in high school.

THE MYSTERY

The conundrum is that even during my most dejected times, when all I wanted to do was give up, I got promoted like clockwork. One would argue that everything is in the mind, and that if the company is promoting me then by default, they are recognizing my work. Yes, to a large extent this is very true. What people don’t realize is that with each promotion comes a higher and higher hurdle to achieve until one day, the hurdle stands 20 feet tall and becomes physically impossible to clear anymore.

The pace of progress has slowed, and I’m left wondering how to continue improving. It’s like making money. Even a multi-millionaire can make an extra buck. It never ends. The pull of other people’s success draws me to create my own. Again, a comparative issue which is hard to avoid. Once you become the manager of the first floor, you begin to wonder what it’s like to be the manager of all ten floors. Pretty soon everybody expects you to keep succeeding and peers no longer praise you because you are expected to win. Here’s when things begin to unravel.

LOOK OUT FOR OTHERS

The solution is to never stop giving. At some point in our careers we have the duty and the power to nurture others. It’s like waking up one day at 35, realizing you’re not the youngest person in the crowd anymore. There’s no novelty or glee in telling others how far you’ve come at such a young age, because you’re just not that young anymore. There’s always a new crop of people coming in, and it’s up to you as the senior person to recognize other people’s efforts openly with no concern of your own. Stop thinking about yourself.

Refuse to not see someone and all their talents. Don’t let them be invisible. Allow them to turn off all their light bulbs except one. All anyone needs is just one.

Readers, have you ever felt invisible in your career, with your friends, or family? What about in the online world if you have a website? If so, how do you cope and make sure you don’t let the feeling of irrelevance keep you down?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

The NBA Finals Proves Location Matters For Success

admin — Mon, 07 Jun 2010 09:00:03 +0000

The LA Lakers and Boston Celtics have met 11 times in the finals. Combined, the two teams have won an incredible 32 championships in the NBA’s 63 seasons. Purists will note that only 10 of LA’s 15 championships came in LA, while the other 5 were in Minneapolis from 1949-954. Either way, there’s no doubt that the Lakers are one of the best teams in NBA history.

How is it that two teams alone combine for about half of all championships in league history? The answer is simply superstar cities which offer high wages, a huge fan base, and enough diversity in all things to keep one entertained. Let’s be frank. There’s no way the Cleveland Cavaliers, Dallas Mavericks, Charlotte Bobcats, and Utah Jazz will ever win an NBA championship. Not to say any of these cities aren’t nice, they just don’t match the star power of places such as New York, LA, and Boston. Eventually, the best players and staff all gravitate towards one of the major metropolitan areas to really compete for a championship.

MOVE IF YOU WANT TO RAISE YOUR STANDARDS

There’s a reason why the best and brightest flock to the big coastal cities of America. It’s where the best jobs, and therefore the best pay reside. The networking opportunities are amazing, and if you have New York City on your resume for example, it’s like a stamp of approval that you can handle anything.

Some will say that big city living is expensive. True. But, that’s because you are making so much more money it evens out in the beginning. As you progress in your career, your income starts to completely outstrip your basic living costs and real wealth starts to build. The upper limits of the income band are much higher, which is one of the key competitive advantages. A big city provides you the platform to make things happen.

CONCLUSION

By the time you retire from a superstar city, you can practically move to any other city in the world, and your living expenses will be cheaper. Whereas if you start off in Altoona, Kansas, you’re pretty much stuck. It makes sense that if you want to be the best, you should compete with, and surround yourself with the best. The Lakers have the marquee player in the West with Kobe Bryant and the best coach in Phil Jackson. Boston’s Doc Rivers and the big three aren’t too bad either. The A players want to be in the best locations, and so should you.

Readers, for the younger readers especially, what’s holding you back from moving to a bigger city if you’re looking to build greater wealth?

Do you believe superstar cities offer more career and wealth building opportunities? Or do you believe bigger cities just cause you to go broke?

Who do you think will win the NBA championship?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

The Katana: 200th Post And A Thank You To All Readers!

admin — Mon, 24 May 2010 09:00:00 +0000

Dear Readers,

It’s been a wonderful journey so far and I want to thank you for visiting my tiny slice of the matrix. We may not always agree, but that’s the beauty of it all. Through differences of opinion, we’re allowed to learn from each other and flourish mentally, and hopefully financially as well. Besides, it’s not like I’m going to hold your puppy hostage or something if you challenge my opinion! Hope you feel the same.

Sometimes it’s hard to to respond to all of your wonderful comments (7,100+ so far), yet I will always try. I wish there was an easy way to tag all of the most interesting comments and show case them. Perhaps I still will! It’s so fun to visit other sites, comment, and interact, I want you to experience the same here.

Each blog has a different personality and tone to it. I’d like to think that Financial Samurai is unique with a flavor that challenges conventional thinking. We can go back to basics regarding budgeting, savings, and retirement planning. Or, we can continue blazing new trails. It’s really up to you frankly. What would you like to read more of going forward? Generally we should enjoy writing what we’d enjoy reading.

Finally, I thought it would be fun to dedicate this song to all the female readers who helped share their viewpoints. Five String Serenade was composed by Mazzy Star in her 1993 album, So Tonight That I Might See. The original plan when I learned Five String Serenade 12 years ago was to sing to a girl after an evening picnic on a beach somewhere. I never got the chance until recently, and now it’s been recorded, in my own version for you. Funny how things never turn out quite like you plan.

Here’s to another 200 posts! Thank you again!

5 POSTS THAT COME TO MIND

Diamond Engagement Rings Bling Bling! - A comprehensive guide to getting the right stone and understanding what women really want. Furthermore, you’ll find a new rule on how much to spend. It makes perfect sense!

Everything Is Rational – The Answer To All Things Irrational – There’s no need to question anybody for their choices ever again. It’s good to mind our own business and not force our will on others.

The Curse Of Making Too Much Money And Not Pursuing Your Dreams – A story about someone who makes multiple six figures, but is thinking about giving it all up for his hobby.

If A Panda Didn’t Look Like A Panda, Would The World Still Care? – A look into how we’re fooled by attraction, and why it’s necessary to floss and brush your teeth.

Don’t Have Children If You Can’t Take Care Of Yourself - A discussion about the cost of kids and why we have so many when there are so many orphans who need our help.

SOME MEMORABLE POSTS FROM AROUND THE WEB THIS MONTH

Thank You To The Militant Who Stole My Car by Wandering Earl. One of the best personal adventures I’ve read in a long time. Furthermore, it’s personal finance related!

Living On One Income by Centsible Life. A nice story about going from multiple jobs to just one, and making more than all combined. Hope you can show us more on the how for your next post!

Low Interest Rate Savings: Beating The Odds By Investing In Your Mortgage by Money Funk. A logical solution in this low interest rate environment. Great mortgage calculator widget find!

How I Survived Two Armed Robberies And So Can You by Len Penzo. Another great story. Don’t be a hero and look away while keeping your hands visible!

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

“The Happy Loser” Archetype By Clotaire Rapaille

admin — Wed, 19 May 2010 13:54:50 +0000

While waiting at the dentist, I picked up the April issue of Inc. Magazine and stumbled upon an article entitled, “The Secret Of Their Success.“ The article discusses what really drives salespeople to succeed. We are all salespeople, whether we know it or not, which is why being a happy loser helps bring out the best in everyone.

Clotaire Rapaille, a psychoanalyst and ethnographer describes a happy loser as someone who sees rejection as a challenge. The first “no” stimulates their brains to want to try harder and not give up. Clotaire highlights one example where a firm defines success not by how many wins a salesperson achieves, but by how many rejections instead.

In other words, until the happy loser receives a “no” from a perspective client, he or she has not succeeded. The Happy Loser archetype is similar to one who loses a tough tennis match. Instead of making excuses, the happy loser goes and runs 10 miles, hires a coach, hits 1000 serves and does everything possible to prepare to win the next time around.

I’ve always believed that the most intimidating opponent is the one whose been rejected all throughout high school. Those are the guys who’ve experienced enough rejection to last a lifetime. With a large chip on their shoulders, they have an unwavering desire to prove people wrong and so happen to often be the biggest successes. All that anger is bottled up into a cannon used to blow away the competition.

Some may wonder whether being a happy loser can be taught. The answer is yes! By shifting your mindset to look for NO’s you will gradually start experiencing the thrill of rejection. In “You’re Rejected! How I Use Rejection To Motivate Me Every Single Day“, I touch upon the concept of seeking rejection from those at the top. Once you do, your motivation will sky rocket.

Readers, are you a happy loser or a sad loser? Do you get motivated after a rejection or depressed?

How were you perceived in high school? And have you ever had a desire so great to prove your detractors wrong?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

An Extra Seven Hours A Week

admin — Mon, 17 May 2010 09:00:34 +0000

I’ve been a little more active on Twitter recently and I noticed something quit interesting. Starting at around 10pm PST, the chatter goes silent. I tend to stay up until midnight to 1am, and because nothing is happening on Twitter, I focus my attention elsewhere. I usually wake up sometime between 5:30am-6am and spend time checking e-mail, responding to comments, stretching and seeing what’s going on online. Again, absolute silence until about 7am PST when things start coming alive. Where is everybody during the silent times? Sleeping?

There was a time where I’d sleep 7 or more hours a day, but no more. For the past 10 years, my body automatically gets up after 6 hours of sleep and never later than 6:30am on the weekdays, and 7:30am on the weekends no matter when I go to bed! Poker until 3am? Good morning sunshine at 7:30am! Actually, I wish I could sleep in until 9am, but I just can’t. Part of the reason for my automatic clock is that I eat regularly, and therefore have the desire to use the restroom regularly. Time to go, my body says and I get up. Unconsciously, there must also be a strong feeling of guilt that I’m wasting my life away sleeping.

7 HOURS A WEEK LEADS TO 30+ HOURS MORE A MONTH

Imagine if you had 30 hours more a month to do what you wish. What could you accomplish? I bet you could accomplish a whole lot of amazing things. If you read 60 pages an hour, you could read six, 300 page books a month! If it takes you one hour to burn off 500 calories, you could lose 15,000 calories or 6-8 pounds a month! Whether it’s mastering a musical instrument or building a business, an extra 30 hours a week is an incredible competitive advantage. This is where drive comes in.

It’s a ridiculous fact that we spend 1/3rd of our lives sleeping. If you live until 90 years old, doesn’t it make you sick that 30 of those years were spent sleeping? It makes me sick, because I’m so conscience about the brevity of life. To put it another way, let’s say you want to “increase” the length of your life by extending the conscience portion. By sleeping one hour less every day, you increase your conscience life by 15% (60 years to 69 years), assuming you sleep 7 hours a day! Suddenly, it’s as if the 90 year old is living until 104 years old (104 X 66% = 69 years old)! Perfect.

CONCLUSION – WORK WHEN OTHERS ARE AT PLAY

Small changes (wake up one hour earlier) leads to great changes over time (a 9 year longer conscience life span). It may be tough to wake up earlier and sleep only 5-6 hours a day at first, but trust me when I tell you that your body will get used to it and start wanting to wake up. Maybe you’ll have to cut down your late night drinking and partying, but it’ll be worth it in the end.

My mother used to tell me growing up, “Use your summer vacation wisely and work when others are playing.“ At the time, all I really wanted to do was hang out with my buddies and go skateboarding. She was right of course, because as soon as I started buckling down and focusing, I was able to exceed expectations. Yes, you might find me corresponding at 6am PST on certain days, don’t worry. It’s me, and not an automated robotic sending something out. In fact, I can’t wait to wake up every single morning and check my messages and see what’s going on in the world. There’s so much activity, I wish I didn’t have to sleep at all!

Readers, how many hours a night do you sleep?

What is the minimum amount of hours you think you can sleep and still be functionable?

What would you do with an extra 30 hours a week?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

The List of Jobs I’d Do For Free Baby!

admin — Wed, 12 May 2010 09:15:48 +0000

If you feel like debating, head over to “The Dark Side Of Early Retirement” and get your fix. I stand by my main thesis that nobody quits a job they love to do. Someone who is able to find a fulfilling job is one of the luckiest people on Earth. We shouldn’t make fun of them for being a “loser” as one commenter put it. Instead, we should figure out what makes them tick!

Everybody gets bored at something after enough repetition. That’s why it’s key to have many different interests which straddle both the mental and the physical aspects of your life. No surprise that interesting people have a plethora of interests. These people also probably have a higher than normal level of commitment to their activities which make them that much more intriguing.

THE TOP 5 “I CAN’T BELIEVE THEY’RE PAYING ME TO DO THIS!” JOBS

1) Tennis instructor at the 4 Seasons in Bora Bora. Crystal blue waters and sunshine, two of the best things, which also so happen to be free in life! You can be dirt poor, but if you’re living in a place like Bora Bora, I venture to guess you can compete with any rich person in a downtrodden, polluted land. I think it’d be great to meet new travelers through tennis and keep in touch online.

2) Snowboard instructor for The Lodge at the base of Vail, Colorado. Nothing beats the back bowls of Vail! We’re talking 10 minute wide open, steep, tree-less, and massive powder runs! The Lodge is a quaint resort, and every time I go to Vail I meet some very interesting people.

3) TV sportscaster for college football and basketball. I literally could watch college football and basketball all day and night long, to the dismay of some! That said, I don’t and pick and choose so as to not over indulge. When college football and basketball season start, my excitement literally goes up a notch.

4) Food critic for Michelin. Yes, for starters I would like the Black Truffle Salad and Yellow-fin Tuna Carpaccio. Please pair with a bottle of 1974 Chateau Montelena Chardonnay. For the main course, I’ll have the Butter Poached Maine Lobster with a cup of extra melted butter on the side. I’ll pass on your selection of caviar and artisan cheeses and go straight for the Mandarin Souffle. Oh, and here’s my business card.

5) President of The United States. There’s no amount of money in the world enough to match the stress of being the Commander in Chief. Hence, I’d rather not take a salary and serve my country for free. One of the first steps as President? Institute a flat tax so we no longer have to discriminate against hard working American citizens who’ve struggled to get to where they are! I’d also reduce military spending to fund education. It’d be awesome to take Airforce I and a bunch of family and friends to Hawaii like the President does every December. Meanwhile, winning the Noble Peace Prize for being in office after one year ain’t too shabby either!

THE NEXT TOP 5 JOBS THAT COME TO MIND

6) Masseuse guinea pig. Rub me baby!

7) Blogger. Financial Samurai is so fun, thinking about monetizing just isn’t on my mind for this site. It’s just a blast learning from y’all meeting new people and gaining perspective. If someone wants to pay to advertise, great! Someone else who needs the money more will receive it. If not, that’s OK too. The next project will come out by mid August, and I’m working hard behind the scenes to make sure it gets executed.

8} Late Stage Film Critic (Academy Awards). I say late stage because I’m specifying the desire to critique only the best movies that have already passed the gauntlet! You know, movies such as Shawshank Redemption, The Matrix, The Usual Suspects, Hot Tub Time Machine and many more, which only a late stage film critic would get to review. What joy!

9) Travel writer and photographer. I don’t know how to take wonderful photographs like our friend Lyndon, but I do love to travel and write on occasion. Send me to Barcelona or Rio de Janeiro to write about their favorite foods and secret gems I’m there! Put me on a train towards Amsterdam to write about whether locals really eat special brownies after lunch, no problem!

10) English teacher in a non English speaking country. If we can’t communicate properly, we’re wasting our potential. Given English continues to become the global language standard, teaching English to those who wish to speak English is very important. Let me go see if the Maldives or somewhere in the South Pacific needs an instructor.

CONCLUSION

So there you have it. I love travel, sports, eating, and writing. Many of these jobs provide free lodging (White House anybody?) and food (4 Seasons) can literally be done for free. When it comes time to retire at 45, I’m prepared to incorporate these elements into the next stage of my life. Perhaps I can be a travel writer in Bora Bora in the morning while teaching tennis in the afternoon? Perhaps I can be a traveling food and luxury resort critic on my site, while letting the new spa staff give me full body massages before they work on paying customers. At any rate, I look forward to early retirement by 45, because I’ve got a full docket of things planned!

Readers, what are some of the jobs you’d be willing to do for free?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

The White Cloud of Happiness

admin — Sat, 08 May 2010 09:00:20 +0000

My mother is a white cloud. Every time I see her, she smiles even bigger than I can ever smile. She loves to talk stories about any of life’s teachings she’s discovered, and I generally just keep quiet and listen. Sometimes I don’t understand everything she says, but that’s OK. It makes me happy just knowing she’s happy imparting wisdom onto me.

One of the holiday presents I got my father was a signed copy of Andre Agassi’s autobiography, “OPEN.” To me, the book was gold, because Andre is my idol. It was my only copy, and I decided to give it to my father because I remember him loving to read and enjoying the game long ago.

When my father opened his present, he did thank me and showed his appreciation. However, a week later, the book still lay on the coffee table unread. Somewhat dismayed that Agassi was being ignored, I spoke to mom about perhaps taking the book back since I cherished it so much. She mentioned her unused Barnes & Nobles gift card and had an idea.

Later that evening, my parents went to the Mall for date night without us. Apparently, Carl’s Junior had a two-for-one special and my father was just dying to go! When they returned, my mother brought me over to the kitchen and told me, “Shhhhhh, take a look at the book. I bought another copy of “OPEN” and swapped it with your signed copy, so you can take it home! Dad will never know!” We laughed so hard it hurt and gave each other high fives! My mom was right, dad never found out. Mom, who knows very little about tennis, was encouraged by my enthusiasm she even read “OPEN” before dad!

LESSON LEARNED

What you think is an amazing gift, may be quite uninteresting to the recipient. There is a recent study saying that on average, the recipient derives only 80% of the value of the gift, which is largely the gift givers fault for not getting them exactly what they want and need. My father was probably thinking he could just get the book at the library.

We can choose to be a black cloud, or a white cloud in every situation we face. The way we carry ourselves makes all the difference. When an ambulance screams by, white clouds part so the sun can beam through. Thanks mom for being a white cloud and supporting me in so many ways. Thanks dad for teaching me tennis. Now go read the book already!

Happy Mother’s Day Weekend Mom!

Readers, what are you doing for Mother’s Day? What is the one thing your mother taught you that you will always appreciate? Can you choose to be a white cloud, or is it just all predetermined? For those whose mothers are no longer here, may they be blessed forever.

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Pretend You Have Arrived So You Can Become

admin — Wed, 05 May 2010 09:00:43 +0000

Samurai Nadal

Before every tennis match, I watch a short video on Youtube of a favorite tennis pro to get inspired. All that goes through my mind are beautiful strokes and luscious sounding *thwacks* each time the ball leaves my strings. I prepare my tennis bag with the right equipment: grip, Advil, Gatorade, a change of clothes, flip flops, hat, and sunglasses. My outfit matches, down to my shoes and I say a little prayer. Essentially, I go through a routine that any pro would go through, pretending to be one myself, in order to get ready for battle.

Pretending you have arrived, so you can become is a way for us to get in the right frame of mind so we can tackle many of your challenges with full vigor. If you are not mentally tough on the court, you will defeat yourself before even giving your opponent a chance to defeat you! In essence, you are your own worst enemy if not properly trained.

Some may think that if you are a pretender, you have a risk of becoming delusional. There’s no doubt we often over estimate our own abilities, however, I encourage all of us to increase the belief in ourselves. If you don’t believe in yourself, nobody else will.

PRO BLOGGER

Anybody who has a blog knows that it’s a lot of work. There’s a statistic that says most bloggers don’t make it after six months. I don’t know exactly what “not making it” means, but suffice it to say many quit due to burn out.

Every time I sit down to write an article, I pretend like I blog for a living. It doesn’t matter I work ~50 hours a week at my day job. What matters is that in order to successfully compete, I must realize there are those who are able to spend 50 hours a week just on their sites! As a result, I’m constantly in search for new marketing ideas and thinking of ways to write better content.

I often envy journalists and columnists of large publications. They are in a field they probably aspired to be in since college, and they have editors to make their writing perfect! As a blogger, I am the editor, writer, content director, marketer, and tech help. I don’t have a multi-million dollar marketing campaign behind me, and it takes a long time to get noticed. Oh well! I’m just going to have to try that much harder.

Because I’m motivated to compete with professionals, I don’t mind the the challenge. Besides, creating this site is simply one of the funnest things ever! If Financial Samurai can rank higher, or be recognized by some mainstream publication like it did on The LA Times a couple weeks ago over a professional blogger, that makes the time spent all the sweeter.

The beauty of the Internet is that anybody can start a website and compete against anybody in any field. Every single big site started small, so keep the faith you will one day get there.

NBA BALLER

Samurai Jordan

Basketball is actually my first true love. There’s no more beautiful a sport than basketball, where you actually have to use your entire body to play. The problem is that injuries rack up in a hurry, and if I want to be able to walk when I’m 50, I better tone it down. I’ve got the sleeveless jersey, loose fitting shorts, and Jordan retros as a point forward. In my mind, all I think about is “making it rain” from beyond the three point line.

Basketball culture is very strong. If you don’t look the part, you won’t be taken seriously in my local gym. People from all over the city come to compete, and you will get hooted and hollered all night long if you look out of place. Ballers travel in packs, and it’s showboat central sometimes. Showboating is showing off to the crowd, while trying to make your opponents look bad in the process. We never showboat, because we aren’t idiots.

We play fundamental basketball, always moving, swinging, setting picks, and taking high percentage shots. And guess what? We are 80% winners. When we don’t win it’s because our opponents simply outsize with 6′ 6″ point guards who can take one jab step, fake me out, and end at the rim with a dunk. Remember, this is my local gym, not the NBA! Our tallest guy is 6′ 4″ and plays center.

By getting into the mindset that you are an NBA player, you start believing your shots will go in upon release. Without the proper mindset, you’re going to brick it every single time. When the last buzzer sounds, if you’re the winner, you’ll get respect no matter what you look like. It’s all about respect in the end, but not so much in the beginning.

MUSICIAN

Samurai Johnson

My 10 year old acoustic guitar has given me more pleasure than I could have ever imagined. With a beautiful cherry wood top, and a lemon oil smell emanating from the fret board, just touching the guitar brings an instant smile. Unfortunately, I’m quite mediocre at musical instruments. I’ve tried them all, including the violin, trumpet, saxophone, and drums and I’m not very good at any of them.

Despite my lack of musical talents, I still try to play the guitar until my finger tips turn purple from one too many slides. I lock myself in the back room of my house pretending to be Jack Johnson playing his latest songs. Whoever I pretend to be, I realize they are gifted because of practice. And so, I practice and practice and sing as if no one is listening.

The guitar has been my outlet when my body is too sore from tennis and basketball. After a 2 hour long singles match, my feet blister and my knees ache. It takes me at least three days to fully heal now from just one or two before. It actually pains me more to have to rest and not play, but that’s where my guitar comes in. When the time comes when my fingers are just too raw to continue, I’m ready to play sports again.

CONCLUSION

A positive attitude is tantamount towards progress. When we were kids, we wore costumes and turned into our favorite superheroes and fairy tale characters. Sometime during adulthood, we forget what it’s like to pretend. That joyful feeling of being someone else eludes us as we grow up. How sad.

If you’re going to do something, you might as well aspire to do your best. Pretend you have arrived, so you can one day become. I guarantee that if you do, you’ll have a grand old time in the process!

Readers, what are your favorite hobbies you could do all day long?

Any strategies you employ to motivate yourself to do better?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

Where Did All The Time Go?

admin — Mon, 03 May 2010 09:45:20 +0000

Looking back at history brings mixed emotions of happiness and fear. How can it be that 20 years have passed since Pearl Jam was huge and mullets were still in? It can’t be, can it? The 90′s don’t seem too long ago, yet so much has happened since.

People say that we’ve just experienced the lost decade, given the lack of returns in the stock market. I disagree completely. What’s more important here is ironically nominal increases not “real”. If you compare what you have now to what you had 10 years ago, I’m pretty sure you have lots more. Heck, some of you may have still been in school or had absolutely nothing but a tit to suckle. You may have developed a business, or found someone over the past 10 years. Rest assured you’ve made a lot of progress.

The one thing we have less of is time. 10 years past means 10 years less of life to go. I think about what I’ve done and what I’m doing in 5 to 10 year blocks all the time. If I plant the seed now, will the project be worth something in 5 years? If I slave away at business school part-time, will I be able to leverage the degree and the relationships 10 years down the road? If I master one guitar song a month, will I be able to play 6 albums worth of songs in 5 years? The idea is to just start now and stay consistent. You ignore the short-term tribulations and just focus long term.

The problem is that eventually, we all run out of rope. That’s when we can only look back and hopefully smile at all the things we’ve accomplished.

A SONG THAT CAPTURES THE QUESTION IN THE TITLE

“Name” by The Goo Goo Dolls

And even though the moment passed me by
I still can’t turn away
Cause all the dreams you never thought you’d lose
Got tossed along the way
And letters that you never meant to send
Get lost or thrown away

And now we’re grown up orphans
That never knew their names
We don’t belong to no one
That’s a shame
But if you could hide beside me
Maybe for a while
And I won’t tell no one your name

Scars are souvenirs you never lose
The past is never far
Did you lose yourself somewhere out there
Did you get to be a star
And don’t it make you sad to know that life
Is more than who we are

You grew up way too fast
And now there’s nothing to believe
And reruns all become our history
A tired song keeps playing on a tired radio
And I won’t tell no one your name
And I won’t tell em your name

I think about you all the time
But I don’t need the same
It’s lonely where you are come back down
And I won’t tell em your name

If “Name” was introduced today, I’m sure it would be a smash hit. Perhaps that’s the idea, to create something that’ll be great, no matter what time period it’s introduced.

Click the below link if you dare hear my attempt to sing “Name” with Mags, my acoustic guitar. Part of my new year’s resolutions is to play, sing, and record 10 favorite songs. I’m not quitting my day job don’t worry, but here’s #1! Thanks Shane Mac for suggesting what mic to buy, and inspiring me to go practice. Mad respect for those trying to make it as musicians.

“Name” by The Goo Goo Dolls sung by Sam

Readers, what’s your song? Any acoustic guitar players out there?

For those who are singers, musicians, and visual artists, how do you get over your fear of performance and display?

Any clever ways to make time seem like its slowing down?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

The Dark Side Of Early Retirement

admin — Fri, 30 Apr 2010 09:08:45 +0000

If you look carefully around the web, you’ll read scores of articles about the desire to retire early. Yours truly wishes to finish up no later than 45, as I believe working for 20 or so years is a long enough time. I’ve done the math with various living and return scenarios and it can be done. But the question is whether it’s a good idea? Perhaps not.

Now that the economy is in recovery mode, it’ll be interesting to see how attitudes change towards early retirement. Will those who’ve short circuited their careers feel the pull to return to full time work and maximize their earnings potential again? I believe so. What about all our “lifestyle design” and “digital nomad” friends who had a rough time landing something stable they truly love? Possibly they’ll come back too.

Those who are able to retire early are often cherished. I certainly admire those who are able to cut down their desires to the bare bones and live a very frugal lifestyle. I also admire those who’ve been able to strike it rich very early! That said, perhaps early retirement isn’t a good idea for the large majority of people. Let’s explore several reasons as to why people want to retire early, why they exist, as well as understand why it may not be a good idea. Someone has to argue the other side, so it might as well be me.

WHY PEOPLE WANT TO RETIRE EARLY (IT ISN’T THAT OBVIOUS!)

1) Haven’t found the right job. The number one reason why people want to retire early is because people haven’t found a job that gives them enough fulfillment to do for the rest of their lives. Nobody quits a job they like. If there was a job paying $80,000 a year to hike in the mornings and get massages in the afternoon, I’d do that forever!

2) Easier way out. People give up or are sub-optimal performers at what they are doing now. Let’s say you are a research scientist who after 10 years never produces any relevant research, and finds no cures. Instead of going on with your failure, you decide to give up, and get out of the game. Early retirement is kind of like the cowards way of not having to be the best any more. Some even liken it to suicide.

3) People are lazy and want things now. Society has shifted our ideals from hard work and thinking long term, to instant gratification. Nobody has the patience to work for decades before being eligible for a pension. We all think we know more than we do, and deserve to be the rich boss now. When we don’t get our way, we quit, rather than letting people know we couldn’t reach our potential.

4) A feeling of hopelessness. During the downturn, a tremendous amount of people began writing about a location independent lifestyle, and breaking free from the 9-5 and really doing what you want. It’s because of this downturn, that many people were displaced, and had nowhere to go. If they did, perhaps they’d think differently. In an economy where everybody is losing money left and right, what’s the point of working?

5) Realization that time is precious. With the median lifespan hovering around 80 years old, you only have 15 years of retirement to enjoy your life if you retire at 65. People in this camp have a heightened awareness of time, and therefore do everything possible to make sure they are financially stable sooner, rather than later. I’m a strong believer in this thought process, but at the same time, I don’t want to cut short my potential.

THE DANGERS OF EARLY RETIREMENT

1) Oops, you change your mind. Imagine retiring at 37 after 15 years of work after undergrad. You spend the next 3 years traveling the world, living a leisure lifestyle and experiencing new things. At age 40, you realize the reason why travel and play is so fun is because of work! You have the urge to get back into the game, but who’s going to risk hiring a 40 year old with a 3 year employment gap? The employer will suspect you are rusty, and may just bolt after a year.

2) You run out of money. No matter how conservative we are in our retirement money needs, something unforeseen may happen. Maybe you have a medical disaster, or your house blows down. Maybe your investments tank due to a massive economic downturn. Who knows what the future holds. But if you partake in “normal” early retirement, without the mega-millions windfall, you may find yourself needing more one day. Again, a large employment gap is perceived as riskier by the employer and you may be un-hireable.

3) You lose touch with friends and family. It’s nice to have all the time in the world to do whatever you want. But, if your friends and loved ones are busy working all day, they can’t join you on your midday hike or adventure to Bora Bora. They may also have a family to attend to during the evenings and on weekends.

4) You may find it difficult to start your own family. Unless you have a tremendous amount of money, raising a child may be too expensive an endeavor to undertake as early retirees. If you never wanted to start a family, chances are you haven’t been saving for a family. Let’s say you’re a woman who turns 35 and suddenly realizes the safety window for having a baby is closing rapidly. May be tough to even get pregnant, let alone support a new born without the right support network.

5) You lose your own self-respect, and the respect of others. Unless you’re out there saving the world, you might start getting depressed you are contributing very little to society. Others will stop respecting you because you aren’t doing anything productive either. A great many rich early retiree friends from the Dotcom bubble have mentioned they wish they didn’t get rich so quicky work a little harder for their money.

CAREFUL WHO YOU LISTEN TO

Early retirees will croon about how great their lifestyles are. I’m sure, in some ways they are spot on. But notice how they seldom write about the hardships they face. They can’t, because it’s important they continue highlighting how awesome everything is, to justify their decision to no longer work. Can you imagine spending 16 years going to school (grade school + four years of college) only to work for 10 years? Some would surely say that’s a waste, would they not?

The worst that could happen is some aspiring scientist, musician, lawyer, or teacher decides to give up their careers because they believe traveling around the world on a shoe-string budget is so glamorous. Years later, they realize their fingers don’t remember the notes anymore and the chemical formulas are one big haze. Maybe they would have made it as a concert pianist, or helped discover the cure for seasonal allergies, ACHOO! What a shame they never reach their full potential.

EARLY RETIREMENT IS SELFISH

As I strive to fulfill my goal of retiring by 45, I’ve come to the realization there’s an unhealthy focus on self. “What do I need to amass to be comfortable?” should be replaced with “How much do I need to be comfortable while helping others?”

It’s absolutely selfish for me to even consider working less than the number of years I went to school. I think back upon my childhood years and how much effort my parents put into raising me. My mother would spend hours a week sitting down with me after dinner to explain mathematical equations. My father would read all my essays and fix all the punctuations and grammatical mistakes. I would feel like a disgrace not to at least try and do great things.

45 is just an age goal. If I haven’t achieved my potential by then, I don’t plan on retiring even if I have the money to do so. The point of having an earlier-than-normal retirement goal is to help keep someone focused to achieve whatever it is they set out to achieve. Like an exam that’s 3 months away, we don’t study until the week before. Hence, better to believe the exam is only a week away so that we are better prepared.

CONCLUSION

Early retirees sometimes like to pity those who have to work. Yet perhaps we should empathize with those who are lost and haven’t found something they truly love to do (point #1). It’s impossible to all be great humanitarians working tirelessly until the age of 65. It’s easier just to give up and tell the world how fabulous your life is, and how you’ve retired on your “own” terms.

As the economy recovers, perhaps we’ll be able to bring back our lifestyle design friends to their home countries to work again. Our early retiree friends will stop fearing failure as employers open their arms wide open and allow them to succeed. Entrepreneurial ideas flourish once again due to an abundance of capital. The more the wealth gap widens, the more the early retiree crowd will want to get back to work, and realize their full potential.

There comes a point when working isn’t about money anymore since we have enough. If we all reach this point, we’ll no longer be focusing just on ourselves, but on helping others as well. We’ll be doing something we love, that provides a sense of purpose. Here’s hoping we all get there!

Readers, do you agree or disagree that early retirement is a selfish proposition? Are we all just inherently selfish to begin with?

What is your ideal age of retirement and how do you know when is the right time?

Do you think once we’re back to a raging bull market, there will be less people who want to retire early?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

Nick Vujicic Shows Us How to Get Up And Never Quit

admin — Thu, 29 Apr 2010 09:00:31 +0000

Nick Vujicic was born with no arms and no legs. He admits to us there were plenty of times when all he wanted to do was give up. Nick didn’t understand the point to his life and therefore wanted to end it. Thank goodness he’s alive because he’s shared his story with millions of people around the world, inspiring them to keep on going.

Just the other day, someone forwarded me an article about this young woman venting because everybody is a workaholic at her office. She tells us how incredibly amazing it is that she gets in at 8am and works until 6:30pm everyday. In other words, she’s asking for praise and sympathy for working normal hours. The kicker? She was unemployed for over half a year and just started this job!

Whenever I feel like complaining about how unfair life is, I stop and think about people like Nick who have it just a little bit harder. Is he complaining? No. He is trying harder, and so shall I. Perhaps so shall we all! Let’s eradicate the sense of entitlement that lingers among everyone of us; some more than others. We shall not whine about our jobs or complain why our love lives crumble. Let’s take ownership of our own actions. If you are a complainer, please go somewhere else!

Readers, who inspires you to keep on going?

Regards,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Follow on Twitter @FinancialSamura and subscribe to our RSS or E-mail feed.

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