[This post is brought to you by my cousin Ross! If you're interested in contributing at The-Military-Guide.com, please see our posting guidelines.] [For those who haven't seen it yet, here's the link to Ross's first post in this series.] Our net worth is what?!? I thought to myself. I knew my relationship with … [Read more...] about Reader story: “How I Bumbled Into Financial Independence” (part 2)
Money Management & Personal Finance
[This post is brought to you by my cousin Ross! If you're interested in contributing at The-Military-Guide.com, please see our posting guidelines.] I knew I had a spending problem after I contemplated purchasing a new TV to avoid the hassle of calling the warranty department for a six month old set that was on the fritz. The whole … [Read more...] about Reader story: “How I Bumbled Into Financial Independence”
My father passed away three years ago. That realization still sneaks up on me (and maybe smacks me on the back of the head) every time I clean out a file box or organize the family photos. Another way to deal with grief is talking about it. This month I’ve shared my lessons learned in a very short video interview. … [Read more...] about Financial Caregiving: Are You Ready?
A reader asks: I'm in the Reserves and I also have a full-time job with a 401(k) and employer match benefits. I believe the max I can contribute between my 401k, employer match, AND the TSP that is tax deductible is $19,500. Beyond that number, any contributions from myself, my employer, or via the TSP are all after-tax dollars, and I cannot … [Read more...] about Contribution Limits of the Thrift Savings Plan + 401(k) + IRA = ?!?
Now that my second book has hit the presses, we’re doing the promotion. This is a marathon, not a sprint, and my version of marketing looks an awful lot like “talking with hundreds of people while drinking coffee.” [This post is about writing and marketing. You can read about the creation of the book here and you can buy the book here.] The … [Read more...] about Lessons Learned (So Far) From a Money-Savvy Book Launch
A reader writes: “My spouse and I need a budget. What should we do? What type of budgeting do you recommend? I know it’s not a ‘one size fits all’ world, but how much is too much saving? It feels a little unsustainable at times but my wife and I make it work. We do love to get fancy and enjoy nice things but a lot of times the budget doesn’t … [Read more...] about From The Mail Buoy: “The Truth Behind Budgeting– It’s Not The Budget”
We’re aging out. As many of you know from your research, 59.5 is the minimum age for starting optional withdrawals from an IRA. Nearly everyone worries about how they’ll tap their IRA for living expenses when they reach financial independence before 59.5. (Although there are many penalty-free exceptions to this tax law.) I hit that dubious age … [Read more...] about “I’m 59.5 Years Old And Done Writing About *My* Money”
A reader writes: Hello Doug. I really enjoyed your interviews and what you have to say about how you got to where you are now. I am looking into financial independence as well. I had a late start, so I feel it’s going to take a while for me to get there, and it may not even be early retirement by then. The reason I am contacting you is … [Read more...] about From The Mail Buoy: Hawaii Investment Rental Properties
USAA has sold its investment businesses to Victory Capital and Schwab. Let's analyze how that's going to affect your plans for financial independence. The sale of the Asset Management Company includes USAA’s mutual funds, exchange-traded funds, and 529 accounts. It closed in 2019 and Victory expects to finish moving the … [Read more...] about USAA, Victory Capital, And Schwab: Now What?!?
Let’s discuss your plan for getting through a bear market and reaching financial independence. If you don’t have a plan, then by the end of this post you’ll know how to craft one. You’ll feel good about taking action and you’ll sleep better at night. You’ll cope with these situations every 5-10 years during all phases of your very long life. … [Read more...] about Fear And Despair In The Time Of Bear Markets