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Early Retirement, Frugal Living, Lifestyle

You Still Get Paid

Reaching the lofty goal of financial independence comes with some secret advantages. Early retirement and success coupled with wealth allows you a freedom few can even imagine until it is reality.

What is this secret advantage no one is talking about, not even personal finance bloggers? Freedom to spend what you want and when you want, PLUS, you never have to get paid ever again for any work you do or from investments you have!

Just think of it. You work hard and save until you have 25 times your spending in liquid investments. Under the 4% rule you are ready to cash in your ticket. Since you have money you can turn on the spigot and splurge because you deserve it.

Even better, you can undertake all the things you enjoy while hearing people tell you you shouldn’t be paid for your services now because you not only enjoy the work but already have enough money.

The same rules apply to investing. Stocks you own can keep the dividend. Your renters should get a pass this month because they needed to buy a new boat more than you need the rent payment.

Ah, yes! Financial independence is awesome. No worries and a carefree life. Nothing stupid to mess up your day like getting paid for your side gig.

Or maybe not.





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Intermittent Fasting Versus Long-term Fasting

The author lean, mean and young. The channel lock has a 10 inch maw. Farming builds muscle!

Growing up on a dairy farm in northeast Wisconsin in the 1970s had its advantages. Computers were the stuff of Star Trek reruns and staying in the house was a form of punishment.

The kids in my family loved summer. We would run and bike down the road and through fresh mown fields of alfalfa. The only neighbor within striking distance was a rental property. To our great fortune the couple who moved in also had kids reasonably close to our age. They were soon sworn in members of our cult.

In the summer we would play cops and robbers on our bikes. Len was a big dude and always wanted to play the cop. The advantage we had is we were wiry kids born of solid German stock. Our lean bodies could bike faster than Len could ever hope to keep up with. The robbers won every time.

During winter we would build massive snow forts. A few winters in the mid to late 1970s included record snowfall for our little corner of the world. The snow plow would pile snow to the highline wires.

Grandma would scold us kids as we built forts in the massive banks. Finally a truce was called where we were allowed to dig our snow mansions into the side of the snow banks on the side away from the road. Those were the best of times.

Then the 1970s came to an end. Len and his brother Joel and their sister Dawn were gone. (If you guys read this please contact me. I really would like to know whatever happened to you guys. I pray you had a good life.) The first signs of financial strain were showing on the farm. I was halfway through high school.

Then the dream was over.



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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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Starting a Successful Seasonal Tax Preparation Business

Readers of this blog are always looking for a side hustle. Seasonal tax preparation is a perfect fit for many early retirees. A small tax preparation business allows for an earlier retirement as the side income can easily be enough to live on for even a modestly frugal person. Another large reader demographic involves the accounting industry. There are plenty of blogs talking about tax issues, but few discuss the realities of starting, promoting and maintaining a tax practice.

I touch on the subject of practice building periodically, but my email folder is filled with requests for a more detailed post. A recent email from someone called Speed (I love it!) asked a series of questions that encompasses the bulk of practice management requests.  Much of what I discuss can be applied to most other business ideas with only slight modifications.

Rather than give a play-by-play on starting and managing a tax practice, I will take each of Speed’s questions and answer them. The reason for avoiding the play-by-play is because there are many ways of starting a successful business. I don’t want to give the illusion you are locked into one pattern to win. Life is rarely that neat.
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Living Between Mr Money Mustache and Tim Ferriss

Modern technology and automation is making our lives easier every day. Virtually every task humans do is also done faster, cheaper, better by some automatic process with a silicon chip inside it. These automation processes started showing up a few centuries ago and started changing human life in fundamental ways in the last 100 years. The pace started slow with a steepening incline of progress. Today, we face a challenge never faced by humans before: what to do.

Free time was always a part of human living. It took the Industrial Revolution to transform human stock into expendable machines. In hunter and gatherer days, man would spend large amounts of time idle, pursuing whatever created interest. We can still see a few remaining fragments of art at historical sites. Hunting parties might extend for days or even weeks. Once game was slaughtered and the meats cured, the pantry was full for an extended period of time. Weeks, even month were free to build monuments, create art, and tell stories around the fire.

Then the Agricultural Revolution arrived. Man had his first taste of what was yet to come. Humans were now slave to the ox and land. Working the land and domesticating animals kept man busier than hunter/gatherer days. Hunched over the plow all day brought the first lower back pain for the species. Humans worked more hours than ever. But once the crops were planted there was free time, followed by a flurry of activity harvesting the crops. Then, man settled in for a long winter season of leisure.




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Early Retirement, Frugal Living, Lifestyle

Dealing with Jealous People

4482714827_491d395f7e_bReaders of this blog are committed to financial discipline. They save a large portion of their money and invest it wisely in index funds and real estate. Whatever is left after investing they consider spending . . . maybe.

Before long the value of the index funds grow significantly and the investment properties gain more equity while throwing off a steady stream of passive income. People begin to notice. You, one of the mentioned readers, drive a less than fancy car and have a modest home or apartment. People also notice you brown bag lunch at work and rarely party with the crowd. Instead of the bar scene you invite friends over for a cookout and a few cold ones.

Everyone around you notices how much less stress you seem to have compared to them. You make it look easy. And you have money. Of course, you do. Because you don’t spend every penny you earn. It starts with one person feeling resentment and spreads like a bad rash. For the first time you feel the sting of jealousy. People you care about and admire now have turned against you because you are clearly no longer like them. You lack the fancy house, expensive car and endless nights of fine dining. And how dare you live without cable TV. Is there something wrong with you?


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Take a Selective Vacation to Maximize Productivity

vacation-149960_960_720The past year has been the most brutal of my career. What started out as a good idea has cascaded into a challenge I am still working the details out on. Challenges excite me, but this one showed up unannounced.

Back in the day when I was building my practice I didn’t work that many hours because it was a seasonal business and I saw no need to bust my tail for “a few more dollars”. (A good movie, by the way.) My strategy was simple; always do better than the year before. As the years accumulate, beating last year required more work. It wasn’t money; it was pride.

Eventually I was working way more than I wanted to, so I cut back dramatically and seriously considered selling my practice and living a “real” retirement. The reduced hours and the return to a normal lifestyle (for me) put the “selling the business” idea on the back burner.

It all changed a year ago. This blog and other media attention sent requests for my personal services through the roof. The process of digging out is still ongoing. I had no choice but to say “no” a lot more than I ever had before. That is a difficult pill to swallow because I love working with people and helping clients reach their goals.


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Increase Blog Traffic Faster Than Naked Kim Kardashian Pictures

blog-1027861_960_720By this time I am mildly qualified to intelligently explain how to increase blog traffic. My online writing goes back to the AOL days in the 90s and grew over the years. The Wealthy Accountant is my most popular blog, but I have two fantasy fiction blogs pulling around 4 million pageviews a year, an astounding number for online fiction. The Wealthy Accountant numbers are lower, but the traffic is higher quality; in other words, Google, advertisers, and readers like it more. This blog now boasts 40,000 page views per month with a strong growing trend line. There are a few tricks I learned over the years to accelerate blog traffic. I am no expert on the subject and there are many with greater skills at increasing blog traffic. My experiences, however, should provide a solid framework to take a blog from zero to a million pageviews in a year.

The first year is always the hardest. Unless you have a name people know growing traffic is done the old fashioned way. It takes work and time. My three steps to building a blog are:

  • First, create content
  • Then, build traffic
  • Then monetize

Jumping the gun on any step can harm traffic. You need content before building traffic; you need traffic before monetizing. Growing quality content is the hardest part for many people. Writing is supposed to be easy. You just sit in a chair and type. And bleed.


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