When used appropriately, debt can help provide for a better life and make us wealthier. When used indiscriminately, however, debt can destroy our financial lives. This post will rank debt types from worst to best in order to help you achieve financial freedom sooner. To start, let’s say where America stands compared to other countries regarding how much […]
Ranking Debt Types From Worst To Best Read More »
The key to financial freedom is generating enough passive income to cover your desired living expenses. Here is the Financial Samurai passive income journey. I’ll share with you how it all started and how I finally left finance in 2012. For background, in 2009, I kickstarted the modern-day FIRE movement, which stands for Financial Independence
Financial Samurai Passive Income Journey: The Key To Freedom Read More »
Your net worth composition will likely change the wealthier you get. The wealthier you get, the generally more conservative your net worth allocation. However, wealthier people also have more of their net worth in business equity as you’ll see below. For example, my net worth composition in my 40s looks nothing like it did when
Net Worth Composition By Levels Of Wealth: Build A Business Already Read More »
The NY Fed, Federal Reserve, Bureau of Economic Analysis, and Morgan Stanley put out a series of fascinating household debt charts we should all be aware of. The charts show the household debt composition mix over time. Excessive debt is what makes extremely rich people go broke. Leverage is what crushed the economy once the
Household Debt Composition Mix Over Time: Student Loans Way Up Read More »
Do Americans have an earnings problem or a savings problem? Unfortunately, I think we’ve got both. Take a look at the median income by age and sex from the latest Census Bureau data. The data always lags for a couple of years. The median income for 20-24-year-olds is $25,116 for women and $27,040 for men.
Median Income By Age And Sex In America Read More »
One of the most important things people overlook when they are about to buy a fancy European automobile is how much car insurance will cost. Auto insurance discounts can save you a lot of money over time. I should know. I’m a recovering car fanatic who has literally bought and sold 8 different cars in
Tips and Tricks to Getting Auto Insurance Discounts Read More »
Despite the typical American having less than $150,000 for retirement, the average spending amount in retirement is surprisingly high. According to the Bureau of Labor Statistics data, “older households” – defined as those run by someone 65 and older – spend an average of $45,756 a year, or roughly $3,800 a month. I don’t know
The Average Spending Amount In Retirement Is Surprisingly High Read More »
Most people make a lot more money than you think. This truth is why there’s no need to worry about the people’s finances. When you see headlines from the media about people making poor financial decisions, this is just media schadenfreude. The reality is, people not only make more money than you think, people are
Most People Make A Lot More Money Than You Think Read More »
Are your spending habits out of control? You’re not alone. We are constantly tempted to spend money and splurge on things we don’t need. Clever marketing tactics, FOMO, the YOLO economy, and the desire for more have become a common part of daily life. But it doesn’t have to stay that way. If you care
Control The Urge To Splurge: How To Save More Money Read More »
One of the biggest peculiarities for hard working folks who want to achieve financial freedom is that we often don’t know when to stop grinding. In other words, when is it OK to forsake Stealth Wealth and start spending more on a better life? After all, you don’t want to die with too much money. Even
When Is It OK To Forsake Stealth Wealth And Spend Up? Read More »
