When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt. Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue. In this podcast episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback. The saga…
Today I’m answering your real estate questions! First up, Rich asks: What are your thoughts on real estate crowdfunding versus investing in a traditional REIT and non-retirement account? He doesn’t want to give up the time it takes to manage a rental property. He wants to spend more time with family and friends, and his…
Emma Pattee became a millionaire at age 26. But she hates it when I describe her like that. Here are other ways that Emma would prefer to be known: She’s thoughtful. She’s hilarious. She’s kind. Emma is the child of hippies. She grew up in a tent in Oregon, at least for a portion of…
How can a family of four shift from earning two incomes to one, while still pursuing financial independence? How would a 55-year-old couple with $2 million saved know if they’re ready to retire? Can parents use leftover money in their 529 plan to help their daughter with her college loans? If you start a job…
“I’ll get around to rolling over my 401k … next week.” “Eventually I’ll switch to a cheaper insurance plan.” “I really should move my portfolio into lower-fee funds.” “Yeah, yeah, I know I should create an estate plan. I’ll do it later.” We know how to improve our financial lives. We know what steps we…
Should you buy a rental property that mandates HOA payments? How do you adjust for cap rate over the years, as the property’s rent increases with inflation? Should you buy an $88,500 house that rents for $1,250 a month? And can you dive into detail about how you work with contractors and property managers? I…
Five years ago, at age 29, Kim E. started her first professional, salaried full-time job, working as a firefighter for the City of Austin, Texas. She received a starting salary of $42,000. Today, five years later, she has saved: one year’s salary ($40,000) in an emergency fund one year’s salary ($42,000) in a workplace retirement…
There’s a famous quote that’s attributed to Henry Ford. The quote says, “If I had asked people what they wanted, they would have said faster horses.” There’s no proof that Henry Ford actually said this. But whether or not that quote is historically accurate, the point remains. If Elon Musk had asked people what they…
Today’s episode is an annuity sandwich: we answer one question about family and relationships, three questions about annuities, and one question about time management. My friend and former financial planner Joe Saul-Sehy joins me to answer questions in what, I hope, is the most entertaining episode about annuities you’ll hear. Here are the five questions…
I once asked my friend Monica: “What would you do for a living, if you could do anything in the world?” I expected her to pause, but she knew the answer immediately. “I’d open my own clothing boutique,” she said. It was a fitting response (no pun intended). There’s a positive feedback loop between talent…