Bob Lotich was stranded. He was 20 years old, living alone in a strange city. He didn’t know anyone. He was broke. His checking account was empty. His savings account was nonexistent. His credit card was only $264 shy of hitting its limit. He had a glimmer of hope, a faint light on the horizon:…
You’re trapped by debt. You want to quit your suffocating job. You feel stuck. Or not? Maybe you love your job. You’re debt-free. And you’re just trying to figure out how stay awesome. Regardless of your situation, there’s a basic formula for taking control of your money. This is a simple, three-step formula, ideal for people who want to keep it…
After I graduated from college and accepted an entry-level job, I received a starting salary of $21,000 per year. Adjusted for inflation, that’s $24,100 in today’s dollars. I was a diligent saver, even then. I directed 15 percent of my pre-tax income into my 401k and another 5 percent into a Health Savings Account. I…
This article is Part 2 of The Airbnb Series. Start by reading Part 1 here, and when you’re done, visit Part 3 and Part 4. Three months ago, I launched The AirBnb Experiment. I’m trying to satisfy a long-held curiosity: How much more (or less) could I earn by running an Airbnb vacation rental, as compared with…
One Afford Anything reader recently asked: “How do you stay motivated? I feel like all I ever do is work. “I don’t know how many hours exactly, but between my job and my real estate investments, I wouldn’t be surprised if I am pushing over 60 hours a week. “It sucks to see all of my friends…
Shortly after Martin and Sierra Black married, they bought a beautiful 2,200-square-foot Victorian home near Boston. From the outside, the couple looked like they had it all. But something was wrong. They were drowning in bills. They forked over $2,200 each month on mortgage payments, and another $600 per month on gasoline for their long…
What’s the purpose of money? That’s not a rhetorical question. I’m inviting you to sit with this question for a moment. Ponder it. Pray / meditate / reflect on it. Why do you want to create wealth on your life? What’s the ultimate purpose? I’ve thought about this on a near-daily basis for the past…
Ready to rumble? There’s a fight brewing. Two contenders have climbed into the ring. Both are clawing for victory. Only one will survive. In one corner: Crush Your Mortgage, and his team of anti-debt advocates. In the other corner: Keep Your Mortgage, and his cheering crowd of leveraged investors. Who will take home the title?
This article is Part 1 of The Airbnb Series. When you’re done, check out Part 2, Part 3, and Part 4. “I wonder if …” The greatest adventures of my life usually begin with that phrase. When I say “greatest,” I don’t necessarily mean “best.” Sometimes I mean “weirdest-smelling” or “insanely-profitable” or “almost-gave-me-malaria.” “I wonder…
At first glance, Forest doesn’t seem to fit the profile of a successful entrepreneur and world traveler. He grew up in a working-class neighborhood. He dropped out of school at age 16. He endured a tragedy in his early 20’s. But our early life doesn’t determine our future. Forest is living proof. He’s been traveling…