Frugal Living

The Master Archive!

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Church of FI

By Keith Taxguy / February 28, 2018 / 9 Comments

Back in the old days the FI (financial independence) community was a different place. Advice was simple and straight forward. King Solomon reminded us to avoid lending or borrowing. Nearly half the parables of Jesus have to do with money and wealth.

The simple message sold well. So well in fact it became ingrained in religious dogma. The goal was honest. Work hard, save and you will enjoy your old age.

The old school in the Church of FI made the most of a basic message. The advice and values were handed down generation to generation. It lasted for one simple reason; it worked!

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Saving the World (and Yourself) One Frugal Act at a Time

By Keith Taxguy / February 19, 2018 / 6 Comments

Frugal living is challenging at times. What seems like a meaningless small change can energize your budget and fire your investments on a steeper trajectory.

Countless blogs and websites provide lists on how to save money. Turn out lights, turn down the heat in winter and the library are good ideas. Mr. Money Mustache has a strong drive to bike. On several occasions he has published on the benefits of biking. Biking is good for your health and cuts energy use. Reducing or eliminating what he calls a “clown-like car habit”, you cut spending by serious coin.

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The FIRE Community is Killing the Economy and Society

By Keith Taxguy / February 16, 2018 / 15 Comments

Members of the FIRE (financial independence/retire early) community might want to sit this one out. It’s going to get rough and I’m naming names!

The concept we now know as the FIRE community has been around for a long time under different names. Frugality and minimalism come to mind. Talking with grandpa they held many of these values 70 plus years ago without a fancy name to make it cool. Many of the personal habits of members of the FIRE community sound very familiar when reading the ancient Stoics: Marcus Aurelius, Seneca, Epictetus.

Guys like Jacob Lund Fisker (Early Retirement Extreme) and J.D. Roth (Get Rich Slowly) put frugality on the map. J.D. made getting out of debt and financially independent cool!

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Dealing with the Emotions of a Volatile Stock Market

By Keith Taxguy / February 7, 2018 / 23 Comments

Recent volatility in the stock market has people reassessing their appetite for risk. Investing in a bull market is easy as it seems the only way equities go is up.

The recent bull market has an added way of lulling people into a false sense of security. Last year many indexes never saw even a 5% pullback even once. Some didn’t see a 3% decline at any point! This is a highly unusual situation confirming for some people the stock market doesn’t test your resolve as often as it does.

In the past week we’ve had a > 5% intraday swing in the market indexes. Many individual stocks had even greater moves!

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The Slow DRIP to Massive Wealth

By Keith Taxguy / December 15, 2017 / 21 Comments

Back in the 1980s and 90s a company advertised heavily promoting dividend reinvestment plans (DRIPs). The commercial looked like a staged radio show with a woman telling the audience no one has an incentive to promote these great programs to invest in the biggest companies in America. I don’t know if the companies with DRIPs…

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Prioritizing Tax Benefits

By Keith Taxguy / December 13, 2017 / 19 Comments

Two kinds of clients scare me most. The first ask me as they pick up their tax return what they can do to lower their tax bill. The other requires a pry bar to get complete information out of them during the year. Each of these clients scares me because I can’t give them a…

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Personal Solutions to the Healthcare Crisis

By Keith Taxguy / December 11, 2017 / 33 Comments

In the United States healthcare has gone from crisis to tragedy. Double digit increases in insurance premiums for many years on one hand and a tax code that forces you to pay up on the other is a painful experience for many family budgets. The current tax code contains a health insurance mandate; have health…

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Travel the World from Your Doorstep

By Keith Taxguy / December 8, 2017 / 12 Comments

Traveling is a real pain in the tail. Even people who love traveling don’t like the moving part. Planes, trains and automobiles are a necessary part of traveling. Without transportation you can’t get from here to there. People claiming to enjoy travel really are saying they like to experience other places and new people. Not…

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