There is a sickness spreading in the FIRE (financial independence, retire early) community. This sickness threatens to topple the best laid plans of intelligent young men and women everywhere. The mentality is that you must do everything yourself to save a dollar and reach your FI goal as soon as possible. Except this DIY mantra is the surest way to delay FI and early retirement by a substantial amount of time.
The worst disasters at my office and lowest times of profitability are when I, as the boss, either refuse to delegate or do not have qualified employees to delegate to. The same applies in personal life. When you do every possible job yourself you lose the economies of scale a professional can bring to the table at a lower cost, faster completion, and a better finished product. Your FIRE goal can be delayed because you refused to delegate.Read More
Back when Doc* was alive he played cards with us every Friday night. One night we got a call the police were at his house. It seems someone had broken into his home and may have started a fire. We thought the card game was over as Doc would head home to assess the damage. Instead he stayed tight in his chair and demanded the cards be dealt.
That night at cards I discovered the real priorities in life. The card game with family and neighbors was more important than stuff accumulated over a lifetime. Of course Doc never tossed anything out, but if someone wanted to steal his stuff, have at it.
My grandfather (Doc) was a Stoic without knowing it. He knew there was nothing he could do if his house was on fire or he was burglarized. He wasn’t going to grab a bucket and start tossing water on the flame; he was 88 years old. It seems it takes a lot of years for the wisdom to develop on what has real value, like a card game with people you care about. You can act like a chipmunk standing guard around your stash or you can value stuff at zero and relationships as priceless. Your choice will determine the level of happiness in your life.Read More
There is a genetic defect in The Wealthy Accountant’s family. It is so serious it threatens to overrun everything we value, costing us money and health. No one doubts grandpa accountant possessed the genetic mutation back in the farming days. Dad accountant followed in grandpa’s footsteps and a brief look around my home will erase any question in your mind the acorn does not fall far from the tree.
When I was a wee tyke my grandfather had a special job for us on rainy days. Rather than take a day off he sent us kids to the old shed where all the nails and screws from assorted jobs were thrown into a wooden bin. Our job was to separate them. Lest you think I am pulling your leg I have a sworn affidavit in my drawer, god forbid I would throw that away.Read More
You did everything right: maxed out your retirement accounts, invested in index funds, paid off all debt, saved half your gross income, and did every home project and car repair yourself to save money. If you are like me this describes you to a T. I save a massive amount of my income in tax advantaged retirement plans and stuff non-qualified accounts, too. Very few jobs are off-limits to me. The roof is bad; I go up there and spank on another set of shingles after tearing off the old ones. A bad light switch is an easy fix after a short visit to the hardware store. I clip my own lawn at home and the office; I grow most of the food I consume; I bike to work even though it is a 30 miles round-trip; change the oil in the car; and I have no problem with a paint brush.Read More
Ryan Holiday has come a long way since writing Trust Me, I’m Lying: The Tactics and Confessions of a Media Manipulator. From his personal experience and stories of great men and women from today and in history, Holiday outlines how the ego gets in the way of aspirations, success, and even failure in his latest book: Ego Is the Enemy. This book is a guide on how to live life well with a healthy dose of Stoic philosophy so you can live happily too.
This is the best book I’ve read on living right since reading A Guide to the Good Life: The Ancient Art of Stoic Joy. From the beginning to the end Holiday provides example after example of how ego has harmed great men and women over the ages. He also gives examples of ego as it applies to aspirations and success. Holiday is not afraid to expand the narrative to include his own failures in life, bringing a personal touch to the lessons taught.Read More
Twelve years ago I weighed 220 pounds (100 kilograms) with rising blood pressure, high cholesterol, and reaching pre-diabetic glucose numbers. Pills are out of the question for me since I have real problems taking them consistently and I really wanted a healthier lifestyle over medications. The moment where I knew I had to take massive action was when I decided I would jog to the corner and back. Living in the countryside meant the corner was a quarter mile away (.4 kilometers). I figured I would start slow with a small run and build as my endurance strengthened. One problem: I could not run all the way to the corner.Read More
This spring I attended Camp Mustache III in western Washington State. Between our leisurely learning sessions we hiked Mt. Si. When our hike was over a group of us gathered at the base of the mountain as we started walking back to the Rainbow Lodge where we were staying. I was a guest speaker so people were interested in my personal life, including where I lived.Read More
My charitable giving is not predicated upon religion or religious belief; I haven’t contributed to a church in more than a decade. However, I am not afraid to take words from the Bible, or any other religious tract, and integrate them into my life and worldview. I am not the kind of guy who needs the biggest bank account to feel validated so when fortune smiles my way I selectively contribute to causes I feel make a difference in the quality of human life around the world.
Selecting a charitable entity to contribute to is a process for me. I donate to only a few causes with donation tending to be $1,000 or more per donation. My giving is also lumpy. I go for extended periods without any charitable work and then give large amounts at one time. Taxes are not a part of my consideration process, but I do take the deductions allowed. Some of my charitable giving is not deductible on Schedule A. Some charitable work is considered a promotional expense for my business which allows me to kill two birds with one stone: helping a charity and getting a deduction before it ever gets to my personal tax return.Read More