Tag

lifestyle

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.




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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.




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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.




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Credit Cards, Taxes and Investing

The Ultimate Credit Card Rewards Hack

Living your dream vacation is easier than ever with credit card rewards. A litany of cards offer massive miles, hotel rooms or cash for spending a certain amount within a short period of time. And there’s the rub. How can the average person spend $3,000 and more to get bonuses of 50,000 points and up within a few months?

Enter manufactured spending. Reaching a level of required spending either requires owning a business with significant purchases, over spending your budget to get the rewards (why bother, it’s cheaper to buy the darn airline tickets) or manufactured spending. Manufactured spending takes time and requires jumping through hoops. There are also additional fees using many manufactured spending methods. And the time! Oh my god, the time to get it done. There has to be a better way.

Meeting spending requirements always required some fancy footwork. But for you, my friend, those days are over. Today I will show you how to reach nearly any spending goal you need for the vacation of your dreams at virtually no cost to you. In fact, you will probably get paid to engage my way of manufacture spending. The time requirements are nil and the whole process is easily handled from the easy chair in your living room.

If you want free vacations from now on, keep reading. The travel hack/credit card hack I am about to reveal is something I have not seen anywhere else. Even if you don’t care to travel, this strategy can drop $10,000 or more a year in your lap tax free.




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Frugal Living, Lifestyle

Your Garbage is Killing Me

Dreams are what make life worth living. As the years stack up we can look back at our lives and see the progression as life moves toward where we are today. Mistakes of yesteryear lose the edge of anxiety while still providing plenty of experience to draw from. What seemed like a good idea back then is painfully obvious today.

And then there are the things which blindside us. A perfect plan executed with precision yields the results we want before life throws one of the curve balls we hear so much about. Today’s story is about a man, me, who did everything right in this instance and still took a swift foot to the crotch.

So the record is straight, it’s your fault. Well, not exactly your fault unless you live in NE Wisconsin, but still your fault because you did it in your own community. Shame on you for acting the way you do. The worst part is you hurt neighbors and friends and now it will be your turn to stand still with feet slightly apart as the community takes a running start as they drive their foot home.

You’re not going to like what I have to say, but you must hear it. This is important. Your happiness is at stake.




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Lifestyle

Conclave

JL Collins is more photogenic than he lets on.

The wealthy, well-connected and powerful have controlled the masses by colluding in secret meetings as long as civilization has existed. The powerful retain and expand their hold on governments and common folk as a result.

Power works best when it plans and executed from the darkness, far away from hidden eyes. Some secret societies have become well known. The Illuminati is now a household word, even if their actions are still closely guarded. Other groups are known, but details are completely missing.

The wealthy have a habit of meeting around the world. These gatherings are media events. News outlets are eager for any droppings they can publish. All the good stuff never leaves the room

You probably heard of some of these groups. People in finance are well aware of the meetings in Davos and Geneva every year. The Bilderberg Group is less known, but no less powerful.

The wealthy and powerful control the masses by controlling the economy and determining which nations face war. Until now these secret societies and loosely formed groups of powerbrokers had no competition. Today that has all changed.




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Lifestyle, Taxes and Investing

Thinking Like an Accountant

The only serious accountant around here.

Things have been looking up at The Wealthy Accountant. Traffic is increasing and the audience is expanding. Even better, the original demographic attracted to the site has expanded, bringing in more people to benefit from the information provided.

The newfound success also causes problems. People unfamiliar with the FI (financial independence) community are frequently shocked at the way I present information. It’s an easy thing to do. Right up there in the title is the word accountant. The blog ought to be about taxes and similar stuff found in a CPAs office. Then you open the cover and find me standing there. Don’t worry! It would scare me too.

There is a major misunderstanding on what this blog is about. Yes, the word “accountant” is in the title. There are a few reasons for that. First, it’s getting hard to find an unused url in the dot com universe anymore. Second, I don’t want you to be an accountant (unless you want to be), but I want you to THINK like an accountant. There is a difference.

Thinking like an accountant allows you to make better decisions in all areas of your life: working, investments, taxes, even relationships and raising the kiddos. Accountants think in a logical fashion. They plan. They also look before they jump.




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Lifestyle

Sleep Yourself Rich

Tax season is over. The long days and endless weeks are finally at an end. It’s time for a nap.

In my younger days I also ran long stretches with limited sleep. Farming is intense during spring planting and autumn harvesting; college was late night studying or visiting with friends; and now taxes provide me with twelve weeks of unrelenting work each year.

Society idolizes people who run with limited amounts of sleep. It is a badge of honor to pound your mind and body mercilessly and do it with lack of sleep.

As tax season clawed toward the finish line my performance was no longer acceptable. The amount of work I completed was down and concerns over accuracy started to pop up. Nobody can perform at peak while fighting fatigue and lack of sleep. Nobody.

I call these bursts of hyper activity “marathon runs”. Tax season is my current annual marathon run. It appeals to me because I have manic depression and I learned a long time ago autumn is a bad time and springtime is power time. It was a natural fit. The disease doesn’t always cooperate, but I have learned to control it enough to use it to my benefit.

Yet, the risks of long hours without sleep are a real problem. Lack of sleep is a leading cause of transportation accidents. Even if you read the news poorly you have heard stories of airline pilots, ship captains, train conductors and barges in catastrophic disasters due to lack of sleep. Doctors frequently perform surgery in the morning for a reason. Only emergency surgery is performed later in the day.




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