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…
Rich Carey is a military millionaire. He’s spent his career in the U.S. Air Force; he’s currently stationed in Seoul, South Korea. He was stationed in Germany before this. He’ll retire after this. Most of his fellow servicemembers, upon taking a military retirement, start a second career. But Rich doesn’t need to. He’s financially independent,…
Time to talk about houses! I answer your questions about rental property investing in this week’s episode. Our first question comes from James, age 25. He lives in Florida, where he bought a $130,000, 3-bedroom, 2-bath condominium in the Class B range as his primary residence. He’d like to buy a second home and rent…
We often peek inside the world of business to look for lessons about how to simplify, optimize and innovate. But what can we learn when we examine world-class people who are hacking the system in any field — including sports, politics and music? What can we learn when we’re radically curious about everything? And how…