​

Financial Samurai

Slicing Through Money's Mysteries

How To Make Six Figures A Year At Almost Any Age

Updated: by 412 Comments

How to make six figures at any age

If you want to make six-figures, know that you can if you want to. Nothing in this world is stopping you with the right money mindset to get rich. I’ll teach you how to make six figures a year at almost any age.

I believe $250,000 is the ideal six-figure income for an individual for maximum happiness. $350,000 is the ideal household income for a family of up to four. Inflation is really forcing households to earn more money just to run in place.

At these income levels, you’re earning a healthy six figures to buy a lot of what you want. But you’re not earning a super-high six figure income that takes a lot of work and gets taxed like crazy.

Further, taxes might be increased for individuals making over $400,000 and married couples making over $450,000. If you’re already working 60+ hours a week and miserable, paying even more taxes won’t feel great.

I’ve been making six figures since my second year in investment banking in 2000. Earning a six figure income helped me achieve financial independence at age 34 in 2012. Today, my passive investment income generates roughly $340,000 a year to take care of my wife and two children.

If you want to learn how to earn a six figure income at almost any age, you’ve come to the right place! After earning six-figures at work for 12 years, I now earn six-figures online.



Read More…

Following Your Dreams To New York City: A Tenant Story

Updated: by 33 Comments

Following your dreams can take a big leap of faith. As exciting as it may be, it takes a lot of courage to break out on your own. Yet, every now and again, people surprise me. One of the greatest feelings is when you want to laugh and cry at the same time. For years I’ve had the most wonderful tenant. And his story of following his dreams to NYC made me so proud.

Timothy was always courteous and kind, and never more than 10 days late on rent. When he told me in January of his plans to move back East, he did so in a hand written letter that was so kind.

Saddened by his impending departure, I wrote a post about it. I wrote, “Is It Better to Rent To Males or Females?” to help deal with the preparation ahead. Most of you mentioned you prefer females. However, all of my past five tenants have been males.

Who Comes Hither?



Read More…

A Little Inspiration Means So Much

Updated: by 35 Comments

inspiration

A little inspiration can go along way. Inspiration is what can help someone keep on going during the most difficult situations. As I’ve said before, the secret to your success is 10 years of unwavering commitment. Let me share a little inspiration I came across.

The Inspiring Boy

I was driving home from grocery shopping one day when I saw this little boy in the picture holding a clipboard and smiling. 

It was your typical, chilly 58 degree San Francisco day and the boy stood so patiently in his parka, saying “hello” to every passerby.  His presence filled my heart and I zipped Moose around the corner to park so I could see what he was selling.  Whatever he was selling, I was going to buy!

Little Henry was selling $1 raffle tickets to support his school choir so they could take a trip down to Los Angeles and perform. Oh my goodness Henry, you are a star! I pulled out my wallet and gave him my only bill and told him I’ll take 10.  His smile got even bigger as he gave me the clipboard and asked me to fill out my contact info.

“Thank you Mr!“, Henry said gleefully.  I smiled back at him asking if I could take his picture.  Of course he said yes to one of his best customers.

Henry, it is I who thanks you.  You’ve given me perhaps years of mental smiles and motivation that I so dearly need all the time.  Why do I love to blog so much?  It’s partly because of memories like this where I can capture, record, and come back to any time in the future.

The Difference Maker

Everything about Henry made me want to open my wallet and support him.  As I think further, it was simply his smile that allowed every single passerby to at least acknowledge Henry and say ‘hello’ back.  I’m sure at the end of the day, Henry walked away with hundreds of dollars!

When I got back home, I began to really go through a myriad of emotions.  I remembered all the times I couldn’t go outside to play with friends because I hadn’t finished my homework yet.  I remember thinking as a kid how I never had enough money buy anything the other kids had, such as a camera or a Nintendo. 

I’d sulk in my room like a spoiled brat. I then recalled a change in attitude in the 9th grade where I started taking responsibility for myself.  I got a job at McDonald’s for $3 an hour, opening up the store at 6am to bleary-eyed customers just so I could buy what I wanted.

Big Government Bailouts

The reason why I don’t believe in handouts and big government is because of kids like Henry who are out there working hard for what they want.  Someone had to tell Henry that if he wants to go to LA and sing in the choir that he would have to help his team raise some money.  It was apparent to me that Henry loves to sing and would do anything to make his trip a reality.

The reason why I’m so bullish on all of us is that we all have the power to make something happen.  We live in a free world where nobody is inhibiting us to go out there and achieve our goals.  I don’t have pity parties, and I certainly don’t pity anybody who complains about this problem or that problem.  Every time I hear a complaint, in my mind I think to myself, “Just try harder.”  Sometimes the thoughts get nastier such as, “STFU, you baby“, but essentially it always comes back to “just try harder“.

Thank You For You Inspiration

Inspiring boy

Sometimes trying harder gets a little tiring, I admit it.  Burnout is an inevitable part of life.  What we need to do is try hard at something we enjoy.  We’ve also got to realize our strengths and weaknesses so we don’t go down a never ending path of failures.

The next time you feel like complaining, think about the Chilean Miners, or Henry.  These people are out there making the most of their situation and doing something about it.  They aren’t just whining about how life is unfair, or how somebody treated them poorly, or how another is gaming the system at their expense.  No.  They are focused on controlling what they can control, which are their own actions.

If you don’t want be broke, know that you can become rich.  If you don’t want to be out of shape, know that you can get in shape.  If love is what you want, know that there are millions of people out there looking for the same thing.  There is nothing we can’t do.  Thank you Henry for your inspiration!

Related: The Secret To Your Success: 10 Years Of Unwavering Commitment

Readers, share with us any little inspirations you might have come across.  Why do people complain so much instead of do something to improve their situation?  Does low self-esteem play a part in not allowing people to take action?  If not, what is it?

If you enjoy this post, sign up for my free private newsletter. Check out the top financial products that may help you achieve financial freedom sooner.

Regards,

Sam

The $300 Million Dollar “A” Yacht Owned By A Russian Billionaire

Updated: by 64 Comments

Well, well, well.  Not everyday does a $300 million dollar mega yacht stop by the San Francisco Bay Area!  The creatively named “A” yacht is owned by 38 year old Russian billionaire Andrey Melnichenko and his lovely supermodel wife Aleksandra!  Andrey made his money in fertilizer, banking, and energy and is worth a reported $4.4 billion dollars.  Interest alone on $4.4 billion at 4% is over $178 million a year!

The “A” looks like something out of a James Bond movie.  Can you imagine all the crazy parties on this bad boy?  Wow!  I rode my bike to the very north end of San Francisco to take a look and boy oh boy is it big.

Some nice mouth watering yacht stats for all you billionaire wannabes out there!

* 25,000 square feet of total living space

* 2,500 square foot master bedroom suite

* 160 foot long main hallway

* 62 feet wide

* 6 cabins in addition to the owner’s master bedroom suite

* 3 speed boats

* 3 mini swimming pools

* A crew of 37 and staff of 5

* Can outrun pirates (or the Russian IRS) with a top speed of 24 knots

* Costs $500,000 to fill up the tank of gas

* Costs $20 million a year to operate

* A secret escape pod to outrun the pirates or the Russian IRS

* A secret “nookie” room for indiscretions with other super models

TOTAL INSPIRATION

Some people might say this $300 million yacht is an absolute monstrosity and that $300 million could have been spent helping save the world.  Yes, Andrey could have spent the $300 million on someone else, but shouldn’t he have the right to occasionally indulge?  Andrey already donates millions of dollars a year to charity and he’s living the dream because he can.

I used to drive to the toniest of neighborhoods in San Francisco and walk around the neighborhood just admiring the mansions.  Whenever I felt down and out, these mansions would pick me up.  If you happen to be in San Francisco, tell the cab driver to drop you off at Broadway St. and Lyon.  Bring your running shoes too as you’ll arrive at one of San Francisco’s most popular workout routine.

The street is littered with $25-50 million houses and I just gawk in amazement.  Do I envy these mega millionaires?  Not at all.  They give me inspiration to work harder and make it on my own.

YOU KNOW YOU WOULD TO

I don’t know about you, but if I was worth $4.4 billion dollars I’d happily own this mega yacht as well.  Furthermore, I’d probably own 20 different properties around the world where I’d sail to for 6 months of the year.  Of course, for the other 6 months of the year I’d be building my online blogging endeavors so I can diversify my income stream (I kid)!

Oh yeah, I forgot one thing.  If I were a billionaire and owned this mega yacht, I’d immediately fly over all the members of The Yakezie Network and party it up all weekend long!  OK, all month long!

Readers, if you were a billionaire, what kind of indulgences would you splurge on?  What are some of the things the rich do to inspire you?  To look at more pictures of the “A” yacht, check out the WSJ’s feature!

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: A Super Skill

Updated: by 23 Comments

If you can master the ability to stay calm under pressure, you can excel in a lot of situations. Keeping your cool is vital at work, raising kids, driving, and especially in emergencies. It’s like a super skill. My father is exceptionally good at staying calm under pressure. I learned this one evening during a family dinnner.

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. He tries to swallow and lets 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. What?!

Staying Calm Under Pressure



Read More…

The Carrot That Makes You Jump Through Hoops

Updated: by 46 Comments

Needs the carrot that makes you jump through hoops. Otherwise, it’s too easy to get lazy, get out of shape, and do nothing.

I started Financial Samurai in 2009, and I’ve been writing 3-4X a week since. I’m constantly looking for motivation to continue because life is too good in America. If you’re wondering, the secret to success is being competing for 10+-years in a row!

It’s crazy to revisit this post I wrote in 2010, more than 10 years later. However, it is absolutely clear to me now that people are successful stick with things.

The Carrot To Make You Motivated

One of my best friends is blessed with skinny genes.  At 5′ 3″ tall, she weighs all of 105 pounds.  When we go out to eat, she doesn’t just order a glass of iced tea and salad with dressing on the side.

She goes all out with mash potatoes, creamed spinach, BBQ oysters and then a nice juicy ribeye for a main course!  I gawk in amazement at her appetite while secretly groaning at trying to keep up towards the end.  After all, shouldn’t she eat 40% less than me if she weighs 40% less?  Guess not!

Despite my friend’s envious genetics, she isn’t exactly iron woman when it comes to sports and outdoor activities.  After three miles on a 10 mile bike ride, she’s pooped and waves at me to take a break.

Meanwhile, I’m going “lah, lah, lah” in my head, not even breaking a sweat as I soak in the glorious views of the Bay.  I let her catch up and we take a five minute pit-stop where she catches her breath as I go do some stretches and sit-ups.

The Gimmick



Read More…

Nick Vujicic Shows Us How to Get Up And Never Quit

Updated: by 16 Comments

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. Nick Vujicic inspires us to keep on going.

Just the other day, someone forwarded me an article about a 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. It shocks me how many people work just 40 hours or less a week and complain they can’t get ahead.

Nick Vujicic Is An Inspiration: Get Back Up, Never Quit!

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!

I hope this video of Nick Vujicic will inspire you to try harder every day. You have more than you think. Carpe diem!

Get Inspired And Improve Your Future

I hope you enjoyed the video on Nick Vujicic. Here are some other articles that I hope will inspire you to improve your future.

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.

Samurai’s Alexa Ranking Challenge Update: Progress Through Adversity

Updated: by 83 Comments

Financial Samurai

It’s been just over a month since the Samurai Alexa Ranking Challenge was announced, and I’m pleased to report we’ve made tremendous progress! With 35+ members strong, we are actively helping each other achieve our respective goals. I’d like to use this opportunity to recognize several Yakezie members for their achievements and initiatives in helping the team.

* Daniel-San from Sweating The Big Stuff took the initiative to compile the list and keep track. His efforts have in turn created a home for us members to visit once a week and get pumped.

* @Elle_CM from Couple Money has been amazingly selfless in retweeting my posts and many other posts. She is exactly the type of member the Yakezie Group seeks.  @FinEngr created a Yakezie Twitter Group to keep track of us and follow.  Pls follow so the group can follow you back.

* Monevator, The Amateur Financier, Evolution Of Wealth created weekly wraps to specifically highlight posts from the Yakezie Group. Meanwhile, Money Funk wrote a derivative post on how to increase your Alexa ranking.

* Eliminate The Muda and Planting Dollars have busted through their 200,000 goal and should obviously now shoot for top 100,000!

THE RULES HAVE CHANGED AND WE WILL ADAPT

At some point over the past several weeks, all of us got dinged by 2 spots on Wise Bread’s Top 100 PF list because of the addition of two new blogs in the #1 and #2 spots. Congrats to those two blogs for being able to piggy back off their respective major platforms. The Atlanta Journal and The Star Tribune of Minneapolis and rocket straight to the top.

I liken the scenario to a situation at work where you struggle for a long period of time to get promoted, only to find out your manager hires someone laterally or from outside the firm to fill the spot! 

Others have mentioned it’s like some who get into prestigious schools simply due to their connections, while the rest of us just make due with what we have. Guess what team? Life isn’t fair, and Wise Bread can do whatever they want. We are not going to complain. Instead, we will simply try harder!

It’s important to realize that in 5 months, to get on Wise Bread’s first page, reaching 200,000 will no longer be enough. The 100th ranked blog will probably be ranked around 165,000 by then. 

Furthermore, Wise Bread might start adding other piggy back blogs from major publications which will impede our progress further. Once again, we must do as much as we can to help each other out. Never surrender!

New Initiatives

* Guest Posting UP: I ask that all those in the Top 100,000 allow others who are outside the Top 200,000 to guest post if they want to. There is a mutual benefit to guest posting where the guest writer gets to reach out to the host’s readers, while getting a link back to their own site. 

Meanwhile, the host blog receives content.  The guest writer really benefits most, because many of the bigger sites already have a ton of content in the pipeline already.  The host blog will actively promote the guest post on Twitter and elsewhere.

* A Playful Dance: One of the great ways to get to know each other better is to write a post in response to a post from one of your members. You see Ryan and Planting Dollars and Wojo at Fiscal Fizzle plays this out with the topic on “Is There Really Such Thing As Passive Income”. That exchange has created a fantastic amount of insight for the readers, and I’m sure Ryan and Wojo’s relationship is better because of it.

* Carnival: Another major initiative is to create an ongoing Samurai Alexa Challenge Carnival each week or two.  We are small enough where we can highlight a post from each challenger, thereby helping promote their content, while promoting yourself since everybody will visit your site and read your content as well. 

You don’t have to highlight a post from every site, however, please do your best to highlight as many as possible.  Just check out the comments at Evolution of Wealth’s Rodeo.  We’ve already got three lined up!

Other Updates From The Alexa Ranking Challenge

* Ranking Host Rotation: Daniel-san has benefited by keeping track of the group’s progress, as he should.  What we are proposing is to allow a new member to host and update the rankings for every month of the challenge. 

I think we should discuss this proposal below, and get an idea of whether people like this idea, and would want to host the ranking as well. With two things in motion (weekly wrap and ranking), we can share the wealth further.  Or, we can keep the ranking at Daniel-San’s site since it’s already there. 

The host’s duty is to obviously update the rankings, check back on the original challenge post to see if new members would like to join, and add, while highlighting any big changes.

* A New Go To Ranking: Finally, at the end of the 5 month period, I plan to either bring the ranking back home to Financial Samurai or let the ranking float forever once a month. The plan is to morph Samurai’s Alexa Ranking Challenge into the go to personal finance ranking page. This will purely consist of individually run personal finance blogs that do not piggy back off other major publications. 

We will create a entirely apples-to-apples comparison of the best PF sites in the world. If anybody has any programming skills to create a page where entries will be automatically updated, please let me know. When the rules change on us, we have the power to make our own rules!

The Alexa Ranking Challenge Is For Everyone

You may think this challenge is just dedicated to a community of bloggers.  In reality, the Samurai Alexa Ranking Challenge is a case study on how to improve all our lives, readers and writers alike! 

Our personal real-life goals can range from finding love to early retirement. What we want to show is that through the selfless promotion of others, continuous teamwork, and an unwavering commitment, we will succeed despite setbacks. This is The Yakezie Way.

** Update Feb 25th: The Atlanta Journal and Star Tribune blogs which took up the top 2 spaces in WB’s rankings are no longer there.  Maybe this post made a different, maybe not. Regardless, this is a positive for all of us, and should serve as a reminder that the rules can and will change. We need to continue being diligent in our efforts.

Further Reading

Here’s some further reading for the week.

START A MONEY MAKING BLOG TODAY

It’s been over eight years since I started Financial Samurai and I’m actually earning a good multiple six figure income stream online now.

I never thought I’d be able to quit my job in 2012 just three years after starting Financial Samurai. But by starting one financial crisis day in 2009, Financial Samurai actually makes more than my entire passive income total that took 15 years to build.

If you enjoy writing, creating, connecting with people online, and enjoying more freedom in your life, see how you can set up a WordPress blog in 15 minutes.

The actions you take today help create your future. You never know where the journey will take you!

Pro Blogging Income Statement
You can start your site for next to nothing and potentially make a lot of extra income. This is a real example.

The People Asked To Get ROCKED & A Boulder Drops On Their Heads

Updated: by 30 Comments

Feel The Pain And Like It
The Rock Of Gibraltar, Only Backwards

Anybody want to guess what happened on Wed, January 19, 2010 right before the market fell off a cliff? The people got rocked.

If you guessed Obama delivered a politically charged speech to rally for his own support and crucify others, you’re right! 

On Wed, January 19th, Obama went on national TV to tell the world, “we want our money back” and “if they want a fight, a fight is what they’ll get.” The “they” of course, are “greedy rich” people.  The markets immediately started to sell-off and the S&P 500 is now down about 6% since.

Good old fashion class warfare is never good for the economy, neither is continuous political jibber jabber. Do you ever remember a president being on TV as much as our current president? 

The risk of overexposure is very real, and the record low approval rating for any president at this point in his term shows this.  The State of The Union address is supposed to be an opportunity to unify the people.  Besides the typical feel-good rhetoric, what I heard was a continued attack on others, protecting personal interest groups, and maintaining giant silos.

YOU SO CRAFTY NEBRASKA

Did you know that Nebraska is the only state in America that won”t have to pay for new Medicaid recipients if the bill passes?  What makes Nebraskans more special than other Americans? 

The answer lies in a special deal the president brokered with Senator Ben Nelson to buy his vote!  If Nebraska did have to pay for new medicaid recipients, Senator Ben Nelson wouldn’t have voted for the bill!  Good for Senator Nelson for looking out for his people. 

But tell me honorable readers, how is this legal, and not frowned upon by the rest of the country?

I am absolutely for health care reform.  We have an expensive system with 40 million + people who don’t have insurance for whatever reason.  We live in a society where if there’s a drug that costs $100,000 to extend your life by 6 months, everybody feels they deserve to take it, but nobody is willing to pay for it.  Fine. 

Since everybody wants the best and most expensive health care, let’s spread the burden among everybody, and not just to the non-Nebraskans!

THE PEOPLE ASK FOR THEIR MONEY BACK AND LOSE BILLIONS MORE INSTEAD

I wonder if the angry mob knows that the more the government is against capitalism, the more we all suffer.  With the market down 6% in a week, the people have lost over $40 billion in equity from their 401Ks, IRAs, and general stock investments.  Essentially, anybody with anything to invest just got a nice black eye.

The funny thing is, the angry mob got what they deserved.  They asked for our president to come down hard on every financial institution, instead of just targeting particular people in power, and the mob is sharing in the pain.

CONCLUSION

What used to be an absolute certainty about Obama’s second term now looks tenuous at best.  The “wealthy” were instrumental in his candidacy, and now their support is gone.   If the unemployment figures do not improve over the next 12 months, there’s no doubt Obama will also start losing the middle class.

It’s sad, because I along with millions of Americans really wanted Obama to succeed.  He has fantastic oratory skills and knows how to galvanize people into action. 

Obama was going to change dirty politics and turn our ship around.  What we’ve learned from the Massachusetts Senate change (which was consistently left for 30 years until Ed died) and the low approval ratings is that the public aren’t mindless idiots.

The people realize that buying votes is wrong and that punishing innocent people at non-TARP banks while protecting AIG and the auto industry who haven’t’ paid back anything is a double standard.  The people of America are speaking.  The question is, are the people in charge of America listening?

Related: The Best Time To Retire Is Under A Democratic President Like Joe Biden

Readers, please read more about the deal Obama struck with the Senator of Nebraska regarding the health care bill.  It sickens me to my stomach that he talks about doing the right thing when he’s doing something else.

Do you think Obama knows what he did was wrong?  If so, is he thinking that the means justify the ends?

If the employment picture doesn’t improve, do you think Obama will get re-elected?

Why does the government want to punish everybody making over $200,000 and not encourage and reward them instead?

If you were forwarded this newsletter, you can subscribe by clicking here. 

Be Yourself, It’s Always The Best Way To Go

Updated: by 19 Comments

Was there ever a time when you thought you had to do more just to get noticed? You’d put on antics, pretend to be someone you’re not, and self praise one too many times when all you had to do was just be yourself.

I recently saw a scene in the show Glee that really emphasized how important it is to be yourself. It begins just after the Glee cast performed an obnoxious hair waving routine for the opposing team. The scene reminds me that simplicity, accompanied by genuineness triumphs always.

This site won’t be all things to all people. If it was, we’d lose our authenticity. You’d be surprised how much backlash I get just for writing a post intended to help others. Some people get especially nasty when it comes to investing. They seem to think that their way is the only way, and that every other way is wrong. Sigh.

Forget About Everyone Else. Just Be Yourself!

People are complex. And over the years I’ve discovered that the people who lash out the most are the most insecure. In addition, they tend to be the most unhappy and are suffering with mental or medical demons. I think they struggle the most with being happy with who they are.

If you want to get far in life, you need a positive mindset. And you have to be true to yourself in the process. But, please be civil! It’s okay to have differing opinions and beliefs. Just be gracious, respectful, and courteous of others.

Never Stop Learning About Yourself

It’s really true that you are never too old to learn something knew. And this also applies to yourself! Even as well as you may think you know yourself, there could be a lot more to discover. For example, my wife discovered as a grown adult that she is autistic.

We’ve learned so much about neurodiversity since her self-discovery. Not only has it improved our relationship, it’s also expanded our network, and made us more understanding and accepting of the growing neurodiverse community.

We certainly hope our children will grow up in an ever more diverse, accepting, and harmonious world. And a large part of that is education, awareness, and exposure.

I hope you will stick around and explore the site. There’s a wealth of content right at your fingertips.

Thanks for joining our community!

Further Reading

Here’s some further reading to help you on your journey.

For more resources check out my:

Financial Samurai has been online since 2009 and is one of the most trusted and largest independently-run personal finances today.

Readers, ever catch yourself doing something that wasn’t you?  Why do you think you were doing that unusual thing, and why is it so hard to just be ourselves sometimes?

Note: The Yakezie Scholarship essays are now live!

If you were forwarded this newsletter, you can subscribe by clicking here. 

Keigu,

Sam  – “Slicing Through Money’s Mysteries”

Buy this not that WSJ bestseller 728