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Early Retirement, Frugal Living, Lifestyle

You Can Do Anything . . . Just Not Everything

Paula Pant of Afford Anything

As I surf around the internet I sometimes run across people commenting on me and this blog. A common refrain goes something like this: “The Wealthy Accountant blog isn’t really about accounting or taxes.”

I know!

This blog is written by a wealthy accountant. My goal is to get you to think like an accountant (a wealthy one) so you can improve your life. Sometimes that means I talk about things that don’t seem tax related on the surface.

My next blog post is on fasting: intermittent versus long-term. (Get ready for it.) I’ll get a few complaints, a few pats on the back and plenty of eye rolls. What does fasting have to do with wealth, accounting, taxes, or personal finance? Simple. Financial independence has little value if you don’t have health to enjoy it.

Sometimes the connection is hard to see. When I started this blog I wanted to show the world what it is like from my side of the desk. It’s the first post of this blog. I was still searching for the voice I wanted to use for this blog, but the tenor was there.

As time went on I wanted to step out from behind my desk and was hoping you would join me. I make no claim to being better than anyone else or have higher quality life experiences. In addition to standing behind me while I run my practice and visit with clients I want to share many of my personal life experiences. Call it a form of legal stalking.

Each story has a goal. First, I have to entertain to keep you reading. The second goal is to show how I solve problems. Everybody runs into a buzz saw now and again. The real issue is how you deal with the slice and dice.

Some messages hit you square in the face. Others are more subtle. The facts and circumstances determine the method of delivery.



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Intelligentsia: The Other 1%

Future professor.

Plenty has been written about income and wealth inequality over the last decade. There is another inequality gap expanding even faster than that of income and wealth. The gap between the top 1% and the rest is growing rapidly in this area and it had a direct effect on income and wealth.

I call it intelligentsia. These people are the most educated or learned (there is a difference) and therefore control their ability to grow income and wealth at will. These hyper intelligent people also have greater political influence.

The intelligentsia are the other 1%. Nobody is complaining about their growing gap of knowledge. The reason for this is clear. Anybody who wants to grow their level of knowledge can with few barriers. Because personal responsibility is involved we will never see a rally or protest claiming people are not allowed to learn.

Do not confuse this with formal education. Formal education is expensive which is a serious barrier many people cannot overcome. The intelligentsia know a formal education is only a small part of knowledge and the influence it brings. Most colleges teach nothing about sound investing. As the owner of a tax practice I can assure you colleges are not churning out highly qualified tax professionals. These and other forms of knowledge require a personal commitment to learning.




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Lifestyle, Small Business

Steal My Stuff, Please, Part 2

Previously our discussion started with a review of Ryan Holiday’s book Perennial Seller. We covered most of the book and I provided enough information for you decide if purchasing the book was worth your hard earned money.

We skipped lightly over the marketing section of the book for a reason. I wanted to share an observation from the book I’ve been making to my clients for years and to encourage you to steal my work. You read that right. Before this post is over I’ll have you feeling good about plagiarizing me into infinity and beyond.

In Perennial Seller Holiday covers marketing well. One area stuck out for me however. Holiday states almost everyone overestimates the value of traditional PR. Not only is it expensive, it doesn’t work. I agree.

For years I have advised business owners about advertising opportunities that come their way. It is rare for these offers to have any real value and in many cases drive zero clients your way while emptying your wallet.

It is so bad that I blanket state all promotions that walk in your door are worthless while promotional idea you personally have enjoy a fighting chance of generating at least a modest profit. The stuff walking in the door comes via a salesperson. Of course they have the best deal ever. I have been warned numerous times over the last three decades I would soon be out of business if I didn’t use their offer. After all these years I am starting to hope they are right. Man’s gotta retire sometime.

What has worked? Well, a lot of my promotional ideas have worked well while costing nothing or nearly so. I walked flyers I printed in my office in the early years of my firm. Gained a large number of individual tax returns in the process and became profitable too.




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Perennial Seller, Part 1

Have you ever wondered why Gone with the Wind and The Wizard of Oz continue to thrill audiences nearly a century later while the box office leader three years ago over Christmas weekend can’t be sold by Wal-Mart for less than a dollar from the remainder bin? Why does The Shawshank Redemption still perform well after more than two decades?

Closer to home, why do some personal finance blogs find a massive and growing audience while others languish? Mr. Money Mustache publishes a few times a month and still generates 5 million pageviews or more per month. What characteristics do perennial sellers have? More important, can we replicate their success?

Last week one of my all-time favorite authors, Ryan Holiday, published Perennial Seller: The Art of Making and Marketing Work that Lasts answering the above questions. Holiday has ample experience to draw from in his work with companies such as Google and cultural icons like Tim Ferris.

You can reinvent the wheel or you can learn from the best. Perennial Seller breaks the process of creating long-term success into four parts: The Creative Process, Positioning, Marketing and Platform. We will touch on each of these before we end with a real world example from our personal finance (PF) community.





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Lifestyle

They’re All Dead

OH NO! Look what happened to the Accountant family! Notice the cat at the right edge starting to chew on a carcass. Don't blame the butler this time; it was the cat!

Recently a post card came in the mail inviting me to attend my 35-year class reunion. The years certainly got behind me fast. My only excuse is that I am having too much fun.

Between the office and home is my gym. Three days a week I lift weights (normally Monday, Wednesday and Friday). Outside the gym I hike, jog, work on the farm, et cetera to keep myself in shape.

A few months ago a high school classmate, Doug Zastrow, joined my gym. It has been a long time since we saw each other and talk fairly regular now, catching up on life in our humble community.

Doug mentioned receiving the class reunion postcard, stating he had no intention of going. I nodded agreement. My argument was I didn’t want to pay $60 for a meal and a few drinks at a country tavern. Doug had a different reason.

Doug named two classmates he chummed with over the years. Both are dead now. We both started counting the number of classmates who had already died. The first victim was a girl who died from a genetic disease followed by a guy from my clique. He died spear fishing on Lake Winnebago with his son. He didn’t vent his ice shanty correctly and died of CO^2 asphyxiation. We kept tallying the numbers. Another died of a genetic disorder, one from cancer, a few accidents, a few heart attacks and even one suicide.

By the time we added all the classmates we know were dead we had reached 20 souls out of a class of 120. There is no doubt we missed a few. People move and word of a death doesn’t always reach my ears. It’s not what I focus on in life.




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How Milking Cows Taught Me to Respect Women

It all went wrong before I ever started. Mrs. Accountant and the junior accountants (I have daughters so I guess they are junettes) carpooled with me to take care of a variety of errands in town. When the family gathers in a confined place the situation turns strange very fast as I start with crazy talk.

For the record I consider myself a bit of a comedian. Not in any professional sense, but I fashion myself as a funny guy. Give me an espresso or two, wait fifteen minutes and watch the fun begin. Once on a roll it is hard to stop the train.

The clan sees me writing a blog so a lot of blog writing is going on around the house. Before long I was coming up with what I considered powerhouse titles to posts when the title of this post popped into my head. Groans echoed around the cabin of the car. I stood my ground. It was funny and I knew it. (It was also clickbait and I knew that too!)

The girls of the household don’t always hold my level of humor in high esteem. It hurts. My feelings are tender. The lack of enthusiasm for my blog title only encouraged me to step up the game a level. I started to flesh out the details of the obvious humor piece. The jokes came fast and furious while I skirted around the implication of the title.

No matter how hard I milked the situation I was cowed. My udderly fantastic jokes fell on deaf ears! How could that be?




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I Preempt Our Regular Programming (Can We Talk?)

Sitting in a darkened room at 2 a.m. searching for words to type seems like an adventure for Don Quixote. Will anyone read the post? Will it matter? All questions, and doubts, every blogger faces daily.

Of course we can take solace in our traffic statistics. Numbers keep stair-stepping higher, salving our fragile egos. But each step higher is followed by a slight reduction in traffic before finding a floor, waiting for the next exposure sending traffic another notch higher creating more doubts.

Then we have revenue streams. Young blogs building traffic to acceptable levels see modest income. The heart flutters with delight when a batch of good news arrives. People are “buying” into my ideas. Readers become fans and start their Amazon shopping from the blog and consider affiliates listed or shared as part of a post. A surprise upswing causes the heart to sink when the follow-through is weak.

The comments offer consolation.  Each comment reminds me a reader is engaged. Of all the things a reader can do to remind the blogger he is not alone in the darkened room at 2 a.m. is to comment. The message at least got through far enough to encourage an intelligent response.




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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.)



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