Like regular fasting, a spending fast has different levels of commitment. The idea is to start small, building your financial muscles before advancing to the next level. As your financial skills increase, you can engage in some truly historical spending fasts. And the good news is you get to keep all the money.
Before we begin I must point out spending fasts are not about frugality or cutting spending. The fast is designed to train you mentally and socially to live a normal life without money as part of every step. Enjoying a walk in the park with a significant other is an awesome and free experience. You can leave the wallet at home. Another lesson to learn is to walk out of a retail store without buying anything (or stealing it) if the item you were looking for wasn’t available. Shopping for the sake of finding a “good deal” is the mother of poverty.Read More
Richard Branson outlined in his autobiography, Finding My Virginity: The New Autobiography, 75 times he had close calls in his life. Recently he published number 76 on his blog. It seems strange for such a successful man to have had so many close calls. Branson has several successful businesses and a life most can only dream of. He is living the dream.
From the outside it always seems easier. I hear the same thing from readers. “You make it sound so easy, Keith.” To which I respond, “Then you haven’t been reading close enough.” Life has been anything but easy for me. Most people have difficult lives. It is these difficulties that define us. We either rise to the occasion and grow or wither and die. One path leads to a sense of accomplishment, the other pain and loss.Read More
I have three short bits for your review. It will only take a minute, but still important stuff.
Plutus Awards: The Plutus guys wanted me to inform my readers nominations are closing July 31st. If you haven’t made your nominations known do so quickly or forever hold your piece. I’d encourage you to consider this blog for Blog of the Year. It’s okay if you choose someone else, but if you do my cat Pinky will have a stern “meow” for you.
Copyright Issues: A lot of things go on behind the scenes of a blog; what you see is only the tip of the iceberg. One of the increasing demands on my time involves copyright issues. Many of the tax issues I cover (and other subject matter, too) is in demand by certain media outlets and academic papers. Several requests per week show up. I point them to my post allowing use of my material. Not good enough, they say. They need copyright paperwork in place. This requires reading contracts which is very time consuming.Read More
The early retirement community is alive and well in one of the greatest economic booms of our age. The government is working hard to create more jobs while the people want meaningful work and more time with family, friends and for pursuing other personal interests. Except for the most hardened, retirement is a goal that will be reached eventually whether you are ready or not.
The early retirement community has a lot to teach to those racing toward the finish line. There are serious risks involved, however. Without serious planning and thought, retirement can be hell on earth. Sitting around all day without meaning or purpose saps all joy and pleasure. Retirement is meant as a tool to explore wonderful new worlds filled with beauty and awe. Dream travel and the business you always wanted to start are now possible. You’ll have time to write that book; start that podcast; climb that mountain. Or, it could be anxiety, loneliness and fear.Read More
Periodically I get a message from a reader congratulating me on my financial success in life. The topic also comes up in consulting sessions more than I care to mention. The inquiry is always respectful and congratulatory. These people think I did something extraordinary when in fact it was actually a straight forward and simple process.
Part of my financial success is a direct result of living in my 50s. Time does a lot for net worth. Another huge advantage is I spent my entire adult life (except for those 14 months I played janitor at the church after I got married) self-employed. Business allowed me to control my income and taxes thereon more so than if I have a W-2 job at the local mill.
I’ve shared the story you are about to read many times in my office. By writing it down I hope it is easier to grasp the concept and how you can build a very large nest egg in short order. I get the feeling when I speak this concept it goes in one ear and out the other. I get it. However, this is too important—maybe the most important part of personal finance to reach financial independence—to just let it go as is. Once you grasp today’s message you have all the ammo you’ll ever need to control finances in your life and create a massive liquid net worth.Read More
You were probably exposed to Jordan Peterson the same way I was: a viral YouTube video. Prior to Google determining my unknown interest in such a “Gotcha!” moment I was preaching some of the same material as it pertained to financial matters.
Once a taste was received I was primed for more material. Peterson has an addicting style of speaking and teaching. He thinks before speaking—something an unnamed blogger still needs to work on. The amount of material to watch is extensive. There is less reading material, but Peterson’s work is powerful and has the tendency to consume a day in thought.
Peterson is misunderstood, many times intentionally. YouTube thinks I might like other similar topics regarding identity politics and feminist bashing. I don’t. By the time my research expanded to MGTOWs (men going their own way), incels (involuntary celibates) and other narrowly defined groups, I grew more and more disturbed.Read More
Two and a half years ago when I started this blog I had a vision for what it would become. The original primary goal was to encourage readers to slide a chair around behind my desk and view the world from my side of the desk. I’ve always found the world interesting from my perch. Things I would never know or experience were front and center due to my position in the world. It all fascinated me.
Before long I expanded my vision. I wanted this blog to be a sort of personal journal to my children. When I’m gone (and hopefully while I’m still here) my girls can reference the thoughts of their dad. Some things are modified to protect the guilty (as I like to say), but the flavor is all there. Who and what I am is on these pages. This is the most real me I’ve ever presented. It took decades of writing, learning and growing to reach the point where I was comfortable exposing myself to the world.Read More