Category

Lifestyle

Lifestyle

Camp Mustache IV Roundup (Seattle)

The view from the top of Mt. Si.

There has never been a conference I didn’t learn something from. Camp Mustache IV in Seattle this past weekend was the best ever for learning. Others may have had a different experience. Where you are on your journey determines how valuable a conference like Camp Mustache is.

Two years ago I attended my first ever Camp Mustache. My goals were simple. I wanted to meet Pete, Mr. Money Mustache himself, and make a business proposition. It went better than expected which is why I am here and you are reading this.

Unfortunately, my mind was on business so I missed most learning opportunities save one: humility. I went into Camp overconfident in my abilities and had no clue how smart Mustachians are. My thought was to offer my services in a breakout session on taxes. This was the highlight of my first Camp Mustache. I achieved something I hadn’t planned on and it was a whopper. Mr. Money Mustache was now my client! How awesome is that?

Later I carried out my original goal and shared the business proposition with MMM. He didn’t care enough for the idea to take it on, but graciously offered to promote the idea on his site for me. Once again, how cool is that?




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
Manufactured Spending Without the Factory
June 14, 2017
New Tax Law Changes Dangerous to Your Wealth
June 7, 2017
Early Retirement, Frugal Living, Lifestyle, Taxes and Investing

Word is Out

Today The Wealthy Accountant has been exposed in his first ever podcast! (Why am I talking in third person about myself?) In January at Camp Mustache SE Jonathan asked me if I would do a podcast with ChooseFI. Brad loved the idea too. I agreed. A month ago the podcast was recorded. Then, through the magic of editing, Jonathan and Brad made me look good. Thanks guys!

Today is Memorial Day in the States and my intention was to take a day off from my publishing schedule, but with the podcast out I wanted my kind readers to have a chance to enjoy the podcast.

Enjoy, everyone. I’ll be back Wednesday with a Camp Mustache IV roundup.

P.S. I enjoyed doing the podcast and am open to doing more for other podcasters too. (Brad and Jonathan nailed me down for additional podcasts for ChooseFI.)



Related posts
Crowdsourcing Experience
June 23, 2017
$10 Million Isn’t What it Used to Be
June 19, 2017
Manufactured Spending Without the Factory
June 14, 2017
Lifestyle

Losing Touch with Reality

Just when you find someone really good word gets out and they get busy/popular/semi-famous or some other bullshit. A great tax guy stops taking new clients and is slow as hell because he has too much work to do. An awesome blogger is discovered by the world at large and is inundated with requests until she burns out. The story is repeated again and again. They get good, then discovered and then wore out.

The worst part is what fame and fortune does to these people. They lose touch with reality as the world builds a wall around them, built with bricks made from the flesh of living and breathing human beings. They get callous because it becomes impossible to respond to every request, none the less, honor the request.

Or maybe it isn’t them. It could be you! Maybe these people are seeing the world for what it really is for the first time. Maybe they have always had a firm grasp of reality. It might explain why they are where they are and why you are where you are. Think about it.




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
Manufactured Spending Without the Factory
June 14, 2017
Maximizing Retirement Investments with Multiple Plans
June 9, 2017
Early Retirement, Lifestyle

Smarticus

Dick Proenneke

There are two kinds of stories people like to read in the personal finance community: personal finance reports and “What am I doing” stories. Pete over at Mr. Money Mustache released his spending report for 2016 this past week and Jim at jlcollinsnh provided us with a report on life in the comfortable Wisconsin south woods.

Spending reports/progress reports toward financial independence interest me, too, even though my financial situation has been solid for a few decades. Spending reports motivate me, giving me ideas to cut consumption without sacrificing quality of life. Progress reports are always interesting. The writers of such reports usually express an emotion with where they are at on the scale of financial independence. From my viewpoint it seems so obvious they are in much better financial shape than they imagine. It is intoxicating watching these good people make their way to the Promised Land.

It’s been a while since I offered my own spending report. Sorry. Spending is so boring to me. God willing, I will get my 2016 report out before the end of 2017.

Kevin has started the redesign of this blog (I’ll pay him a soon as my new bonus credit card arrives).

Collins shared his life these past few weeks on his blog. I enjoyed his story and I was there part of the time! Such are the simple pleasures of life.

Your favorite accountant has a few interesting tidbits in his life you might find of value, too. Whereas, a lot of people in this community talk about their sedentary or retired life or world travels, I am busy acting like a mini Elon Musk. Call it a sickness.




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
$10 Million Isn’t What it Used to Be
June 19, 2017
Buy A Car at an Awesome Price (From the Dealer)!
June 17, 2017
Lifestyle

Increase Your Success at Anything with Warren Buffett’s “20-Slot” Rule

Charlie Munger

The best way to learn is by studying the best. Experience has value as long as it also has a foundation in knowledge. Reinventing the wheel again and again is a fool’s errand and not conducive to personal development.

Studying the best takes many forms. Working for someone at the top of their game is the best way to learn, but the opportunities to do so are limited. Formalized education communicates facts without always presenting the best in your selected field. The number one way to learn from the masters is to study them through intense research of their work. The greatest minds are available like never before. YouTube videos of their speeches and books and news articles on their practices give us massive quantities of material to learn from.

Today we will focus on a simple story shared by Charlie Munger, Warren Buffett’s friend and right-hand man at Berkshire Hathaway.




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
Investment Commercial Real Estate Profits and Pitfalls
June 21, 2017
Manufactured Spending Without the Factory
June 14, 2017
Frugal Living, Lifestyle, Small Business

The Knuckle Dragging Neanderthal Meets Uber and Airbnb

Tax Collector? They opened an office for me when I visited Florida!

Earlier this year Mrs. Accountant and I attended Camp Mustache in Gainesville, Florida. We were offered a ride to the Camp, but we also had several additional days planned around the event. Renting a car in such a situation is expensive since the car would just sit there for days while my wallet was financially abused.

My youngest daughter rolled her eyes when I mentioned I needed the phone number to the Gainesville taxi service. She grabbed my phone and started working on it. This is an unusual event for anyone who knows me. I use my phone as a phone. Period. I don’t care about, nor do I want to know about any of the other things smart phone can do. I make my own breakfast, thank you.

In a few minutes my daughter completed her assault on my virgin phone. She added an app to my phone. (To this day I have no idea what an app is. Whenever the kids talk about apps I joke that we are living on The Planet of the Apps.)

I told her it was nice of her to put an app on my phone, but I’ll never use it. Another eye roll. “Here, dad,” she said pointing to the Uber icon now conveniently located in the middle of my screen. “All you do is touch the icon and tell the phone where you want to go.”

Huh?

Well, my fingers don’t work well with all the small letters and stuff on a phone so I have made a habit of avoiding the issue. Now I find out I can talk to my phone and it responds. Awesome!

I know, I know. You readers are rolling your eyes like my daughter. This stuff has probably been around for a long time. Somehow I missed it. I refuse to blame my stubbornness on “missing it” even though it is probably the reason why.




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
Buy A Car at an Awesome Price (From the Dealer)!
June 17, 2017
Manufactured Spending Without the Factory
June 14, 2017
Early Retirement, Lifestyle, Small Business

Fighting the Profit Train

One of the mantras of the FIRE (financial independence, retire early) community is the owning of income property. With rare exception, investors do it all wrong, taking on extraordinary risk for no reason.

Side gigs are handled the same way. Whether you run a full-fledged business or a side gig, you probably make the same mistake real estate investor’s do.

Americans love to invest at home. There is a tendency for people from all countries to focus their investment dollars in the domestic market. The comfort of understanding the local business climate clouds the investor’s judgment. American’s are the worst. For decades I have recommended 70% S&P 500 index fund/ total market index fund and 30% international index funds for my American clients. This is still weighted heavily toward U.S. companies. The diversification in broad-based index funds with a third of the portfolio in international is a good mix in my opinion. Small business owners and real estate investors rarely make such a sound decision.




Continue reading

Related posts
Investment Commercial Real Estate Profits and Pitfalls
June 21, 2017
Get There Before You Arrive
June 12, 2017
New Tax Law Changes Dangerous to Your Wealth
June 7, 2017
Frugal Living, Lifestyle

Your Money or Your Wife

Divorce and money.

Warning: What you are about to read will be disturbing to many. Women and children should leave the room now. Men with a queasy stomach should also take a step back. It’s been two weeks since I dropped the f-bomb. The drought is over. I will use the f-bomb today in its correct dictionary definition to illustrate an important issue. This post is so volatile LinkedIn will not allow you to post this to their site even though your life depends on it. Facebook is good with it, however.

Money is the leading cause of divorce in the United States and in most Western countries. Marriages survive infidelity better than money problems. The worst part is how expensive divorce is and since money issues are the leading cause of divorce, it doesn’t solve the problem.

Then we need to think of the children. They suffer disproportionately. Adults have at least some control over their actions and the outcome. Children are helpless victims in the middle of elevated negative emotions. The damage is significant and lifelong.

Every marriage has its challenges. Forty-one percent of first marriages end in divorce. Abundant data on divorce exists, but there are large discrepancies in some of the data. It is also hard to put an exact number on the percentage of marriages that will end in divorce when the married couple are still alive. Using the number of divorces in a year compared to the number of marriages is useless. Still, many marriages end in divorce, statistics aside. Money is a large factor in divorce and divorce only exacerbates money problems.




Continue reading

Related posts
Crowdsourcing Experience
June 23, 2017
Buy A Car at an Awesome Price (From the Dealer)!
June 17, 2017
Manufactured Spending Without the Factory
June 14, 2017