A cold north wind raised goose bumps on my forearms. The year is 1982. I am 18 years old with no idea how I am going to live my life. My dreams are to own a business and make lots of money. You see, my family is very poor. Just money. That is the goal.
The wind gusts, reinforcing the goose flesh. The family farm finished bankruptcy only months before. My whole life plan was over; farming is no longer a viable job opportunity, the only thing I know. Our farm house was a shotgun shack. (A shotgun shack is a building where you could shoot it with a shotgun and the pellets would pass through without hitting the building. The old farm house had plenty of holes.) By some miracle we kept the house and a few acres of land from creditors; the rest was gone.
My dad’s life was over, too. All he knew was farming and now the farm was gone. He started a business repairing silo unloaders. The competition was tough. Life in the 1982 Rust Belt was no fun. Work was scarce; opportunities few. Unemployment reached toward 20% in our local community.Read More
Reducing spending is my favorite pastime, more fun than a Pokémon or any other video game. Finding new ways to reduce costs provides me more pleasure than any other activity I engage. I bike to work as often as feasible, blasting my transportation costs to a minimum. Our home hot water is supplied by a geothermal heat pump. In the summer there is no reason to keep the geothermal on except for hot water so we put it on a timer, reducing our electric bill to almost nothing. (We use hot water in the evening to hand wash dishes and wash up after working outside.)Read More
From an early age I practiced picking out conversations from a crowd. It’s a neat little trick for a business owner to have. When you think I cannot hear you I may actually be listening in closely. Conversation in a crowded room takes skill with multiple conversations amped in volume so you can be heard over the cacophony. Picking out a select voice from across the room takes a lot of practice.Read More
Some of the largest companies in the world did not exist a few decades ago. Amazon, Apple, and Microsoft are only a few of the organizations with massive market share, Microsoft and Apple with humble beginnings in the 1970s and Amazon gaining life in the 1990s. Each is a leader in their industry. It is hard to imagine the world without the retailing genius of Jeff Bezos. The way we shop, work, play, invest, read, and think have all been radically altered in the last few years by companies with vision. And a secret weapon to put them in front and keep them there.Read More
I started this blog to share stories from my side of the desk. Doctors, attorneys, and accountants hear all the good stories. The insights I could provide my readers would prove valuable in their lives as they work toward financial independence. Reinventing the wheel is a poor use of time. Learning from the experiences of others is how we grow personally. Sharing stories and ideas were to help you, the reader. What I discovered is I am also learning a lot along the way.
Recent events highlight the difficulty business owner’s face on a regular basis. I see it with business clients all day long; now it was my turn. I screwed up bad. I handled an employee who went off the rails about as bad as any employer could. It is too easy to pass blame to my office manager or to assume the employee is bad. Sometimes the issues come out of the blue; this event festered for a month and a half before I took action—the wrong action.Read More
One of the all-time great pleasures people receive from reading personal finance blogs is stalking the blogger. For some reason peeps want to know what the heck we are spending our money on. Who am I to upset the apple cart? Stalk away.
Below is a table showing my spending for 2015. I know, I know, you expected this months ago. All I can say is: Better late than never, you little stalker, you. My obsessive-compulsive way of recording stuff in my life allows me to break down my spending patterns for you. There were a few surprises when I reviewed the numbers. I will provide some explanations after the table.
In the future I plan on listing my annual spending once per year only. My columns listed here are exactly how my personal records read, minus the description. The miscellaneous column catches a lot of stuff I could break out, but since most months have only minor miscellaneous spending, I elected to keep it simple.Read More
The lottery is back in the news with promises of a rich reward for a very small number of people who randomly pick numbers matching the officially drawn numbers. The odds are hundreds of millions to one. But you can’t win if you don’t play. Just one ticket, one little ticket. A single dollar. Better buy two; make that three.
Lottery sales shy rocket when the jackpot rises to mega levels. The impossible odds are still just as bad when the jackpot is massive. The one question I don’t hear people asking is: If nobody won the last time they drew numbers and millions played, what chance do you have of winning?Read More
There should be no battle between good and bad debt. Debt is not good or bad in and of itself. Debt is a tool that can be used to simplify personal and business finances or can be used with reckless abandon. The internet is filled with advice on debt. In one corner is Dave Ramsey and his ilk claiming all debt is bad and should be avoided at all cost. In the other corner is Donald Trump and his “There is never too much debt” mantra. Only rarely is someone smart enough to discern between the two camps and provide appropriate advice on debt. Today your friendly Wealthy Accountant will be said smarty-pants.Read More