Living for today - Planning for Tomorrow
Lately I’ve been spending some time looking over our budget to see if we have any areas that we can shave our expenses and I thought I’d summarize a few key data points. We have always strived to minimize our expenses for things that don’t matter to us. The result has been that we don’t have much of what I’d call “leakage” to our monthly
Up until recently I’ve always ignored all the short sale real estate listings in my area. I’ve had this assumption that short sales never actually get completed and that it takes many months of hassle to even find out it didn’t go through. In the past, I’d seen a number of friends try to buy short sales and not one of them were ever successful.
Tonight I was sitting in my office at home when my daughter came in with rubber gloves on. She looked at me and said, “Daddy, I’m starting to clean the bathrooms so I can get my allowance!”. I told her, “great job” and she headed in to the first bathroom to start cleaning. About 5 minutes later she came back in with a funny smile
I will confess that I really like Business Insider. Their latest article that caught my attention was a pretty long set of instructions on how to keep your money after winning the lottery or making millions as a professional athlete. It won’t be a surprise to most of you that it simply requires spending less than you make and creating a revenue stream from the
I was looking at one of the spreadsheets I use to track our budget and net worth and thought maybe people might be interested to see how our net worth breaks down. While I’m not showing our exact net worth (we did just hit a major milestone), this gives you an idea of the assets we have that make up our net worth. It won’t
Did I ever mention how much I love the Internet? It’s amazing how much of a “disrupter” the Internet has proven to be for so many industries. Newspapers, realtors, travel agents, the Yellow pages, brick and mortar stores; the list goes on and on. Ironically, it’s also been quite a disrupter for the very companies that offer Internet services. Time Warner and Comcast are two
There seems to be a trend lately. (Okay, I guess this has been going on forever). First we read about Allen Iverson being broke after making over $150 million. Now we are hearing that Gary Busey is broke too. In fact, it turns out most of us are much richer than Gary. A broke college student’s net worth probably beats Gary Busey’s net worth. Buzzfeed
Yikes. Another story of a professional athlete burning through his millions long before he dies. If the rumor is to be trusted, it sounds like Allen Iverson has lived beyond his means and is now faced with garnishments to his future earnings to pay off an $860,000 bill to a jeweler. When Iverson was playing basketball for the Detroit Pistons during 2008 he made $20.8
Okay, I have clearly lost my marbles. Last weekend, I read an article about how the Powerball lottery was over $300M. I caught myself dreaming about what I’d do with that kind of money. After taxes they were saying it was somewhere around a $200M payout. Of course I wouldn’t use the winnings for anything other than generating interest income but that would still easily
I’ve been contemplating buying a rental property for a long time. I remember years ago when I was considering buying one, it just didn’t make financial sense. At the time, prices were at the point where I’d end up renting the property for less than the monthly mortgage payment. I can vividly recall reading articles from people like Robert Kiyosaki about how you just couldn’t
