This was an article I wrote for www.Fiology.com

Our story seems quite different than most, but anyone can use pieces of my life examples to better yourself, including my mistakes.

Lessons: 

My story to LifeInFIRE started as a (lucky) middle-class 12 years-old when I was taught how to save and how bonds/high-interest rates worked.  That year Alaskans received checks of $1000 each.  My dad made me save mine, while ALL my friends bought new stuff.  A few years later I had enough to buy a car, but I was forced to buy an older car.  I had a little summer part-time job and my dad told me if I saved some money, he would match it.  I saved ALL of mine and spent his.  These turned out to be great learning opportunities that I don’t regret at all.

Spending:

I also watched my parents log their spending in a multi-column budget book each evening. They could quickly and easily track their expenses over time.  I’ve done this in a few different ways since high school. It helps you become aware of your current and historical spending.  Note: we spend almost the same decade after decade as some items rise and other categories drop.

Delayed gratification:  

I learned you can get what you want, but make sure it’s what you really want, and you can pay for it, rather than paying the bank back.  I guess I was a lucky child in that I received a gift for christmas and my birthday, usually what I had been asking for over the previous months.  I learned that I had to wait.  It became normal.  30+ years later I still plan for what I want, research, validate and then make the purchase decision at a later time.  It helps to stay out of stores, or bringing my wants/shopping list for some structure.

Investing Oops: 

You won’t have this problem in modern times.  I learned about investing in bonds 12-15% in the 80s.  At the time a stock trade could be HUNDREDS of dollars.  You know about low-cost index funds, I wish my MBA had said just three more words “Total Market Index.”  I had no clue.  Luckily you are educated in this regard.  Remember, you can overcome lower investment returns by saving well.  However, it’s very hard to use investment returns (unicorns) to overcome low savings.

FIRE/Not working: 

It was NEVER my intent to no longer be a worker (retired) at 43.  I originally planned to leave corp America in my early 50’s to teach (at a comm college) and give back to how I started my career.  To prep for the change, I actually taught night classes for over 20 years, while working a busy day job (side hustle wasn’t even a thing yet).  I saved EVERY dollar from my teaching side hustle because it was just an extra “playcheck.” 

Some differences:

We do not have children.  We had smallish, manageable college student loans (graduate as well), some with parental assistance, some with employer assistance, some paid for monthly/aggressively for a few years (at 90’s tuition rates).  We both were working professionals.  We targeted a lifestyle (once we got better organized) of living off one salary and saving the second.  That allowed less stress from daily work—even the possibility of a layoff.  Financial INDEPENDENCE has many levels, but they all give you control, power, freedom.

Great markers

If possible:  Same spouse, same house, same cars over time, save early and continually for the future.  If most of the items work out, you will have a stronger, less stressful financial life and possibly (much) more freedom into the future.  (Yes, that was worth repeating from above)

                Same spouse (25+yrs together), same house (27yrs, 1026 sq ft), same cars (10+ yrs, purchased as 3yr olds), save early (one of our paychecks * 20yrs) and continually (still do a little part-time work for “playchecks”).

Giving: 

A big part of my life seems to entail giving back in my own way.  There is no big activity or a five-foot-giant-check handed to someone, but rather lots and lots of small efforts to try and help others have a better day/life.  It may be like me; teaching, presenting, writing, having a conversation, listening to someone, performing an action to help (carry something, pick something up for someone, smile) in the smallest of ways.  If you give out positivity, you will surround yourself with said positivity.  (Even grumbling old(er) men can give, I prove that).

Health:

It is vital that you put effort into your health and wellbeing.  A strong, happy body will carry you throughout your day much easier than being broken down.  I lost 140 pounds when I was 29- 30, anything is possible.  Move, get some sunlight, smile to others and fuel your body with the vitamins and nutrients you need.

My wife and I are so basic/normal (stealth?), but we do what we want (planned out) and have a great life.  Thousands of smart little decisions over time may multiply into your greatness or really goodness.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

This is an update to last year’s post.

I went to Goodwill on Thursday, Jan 3rd, 2019 because I was passing by after the gym.  THE GOODWILL RACKS WERE PACKED!!! 

I could not believe all of the items on the racks and shelves.  It was like hundreds of homes had cleaned out their over-consumption stuff for other’s to enjoy at discount prices.  The clothes were so packed the hangers couldn’t slide.

Question:  Friday or Thursday?  Friday starts a new color of half price tags.  Thursday those color tags become $1 each just to get the merchandise out of the store.

As I said, I was there Thursday—usually slim pickings-—just to see if they had anything good available.  WHOA, there were dozens and dozens of $1 clothing items, household items, books, etc.  I looked around a little and ended up with 10+ items for $13 (I had to over-pay more than $1 for a couple of nice clothing items; Oakley, Nike ~ 1.99-2.99).

I know in the next 3-4 weeks—as the color tag cycle rolls over—there will be so many great deals.  I now have a “goodwill wish list” on my phone of clothes/things to look for—just like an Amazon wish list, but for Goodwill.

Original Article from 2018 below:

Let’s talk about shopping.  There’s either planned need-based shopping or entertainment shopping.  We’ve all done both at many times in our lives.  Of course, we’re supposed to just perform planned/need-based shopping excursions, but that’s no fun.  Let’s talk about discount shopping—with a plan.

Normal shopping has a few pricing models, full-price, sale-price, some other crazy-price.  The goods we purchase come in two states—new or used.

Today I feel the need to talk about used items.  Something that someone wanted to get rid of and allow us to have that those items for less money.  So excellent for the wallet!  There are many used item locations ebay, craigslist, garage sales, neighborhood posting sites, thrift stores, (bulk trash for some), etc.

Let’s talk about Goodwill thrift stores.  Tons of merchandise—some horrible junk, other may be nice finds or “treasures.”

Here’s the best part:  Goodwill stores often have multiple pricing options.  Full priced items, half priced items,  and excellent $1 items.  Many Goodwill stores base the price on how long the item has been for sale in the store.

• Full Price:  As items arrive they are priced with the new color tag of the week (e.g. pink) for full price.  I’m not sure, but I believe my store has 5 colors of tags— as an example a store may use Pink, Purple, Green, Blue, and Yellow. 
• 50% off:  The fifth(?) Friday after arrival, those old pink tags become 50% off their full price to incentivize people to get those items out of the store.  Friday morning can get a little busy in some goodwill stores.  There may also 50% off Saturdays when the entire store is on sale.
• $1 day:  Then on the following Thu—end of that color’s 50% off week— all those 50% pink tagged items become $1 to really try and push the items out of the store.  Thursday morning can be even crazier.  Imagine getting jeans or a jacket for $1. 

Then the next day (Friday) the discount process starts over with the next (oldest) color, in this example, Purple tags become 50% off their full price.

There are also 50% off Saturdays,  Senior 20% off Tuesdays, Military day savings, etc.

My tip:  Near the end of the year many people donate items for the tax write and in Jan many items are donated because of new year’s ‘cleaning’ resolutions.  So if we can time 5 weeks after these items arrive (mid-Jan – mid/late Feb) you will find a large selection of very discounted stuff.  My local Goodwill’s racks are jam-packed with clothes and shelves are stacked with items. 

I’m sorry this post went up at the end of this timeframe, I just realized myself why there was so much stuff at the stores.  Keep a shopping list of items you need/want in your task list.  Set up a calendar reminder for late Jan and Early Feb next year to take advantage of Goodwill Thrift Store donations sales to load up on stuff and save your wallet some serious money…and have hopefully a great entertainment shopping adventure.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

I am so sick of seeing commercials of shiny new SUVs with Christmas bows in the driveway and a happy couple (+2kids) frolicking in the 1” of artificial snow.

Economics

I understand the money making (selling) machines of corporate America are behind this and our economy thrives from purchases, and nobody is going to pay for a commercial that says “Hey honey, surprise! We’re now in debt for another 72 (84?) months.”  Hmmm.

I’m not a total curmudgeon chanting Bah Humbug, not at all.  Yes, the holidays are a time for sharing with loved ones.  We can share time, energy or even thoughtful gifts to show our love.  I understand the commercialism in our culture and important to the country (companies/shareholders).

It’s just these artificial, over-extend-yourself commercials drive me crazy.

Wealth Destroyers

Maybe it’s my deep-rooted belief that repeated new car purchases and other large disposable items continue to smash the financial (future) stability of millions of people.  Come to think about it, maybe I am a curmudgeon.  Maybe I just have too much time in my LifeInFIRE to notice these things and grumble.  Or maybe, just maybe, I am onto something smart here.

Maybe, I just need to get off my $1/month Hulu subscription with commercials and do something more productive (like write my thoughts online?).

Gift Timing

For some of our younger family, we do back-to-school gifting (more than xmas) because they already get SO many gifts at xmas and nothing in the summer.  It seems to make sense for our different mindedness.

I hope you are wise and enjoy the holidays with your loved ones, and also remember to enjoy the entire year, and share and give throughout the year.

Enjoy every day.  That’s my goal.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

“Oh how expensive it must be to eat vegetarian (plants) all the time.”  Are you thinking “here goes an entire paycheck to Whole Foods” to get the organic new superfoods of the month?  This is what so many people believe.  Maybe it’s our marketing culture.¹

Then it occurred to me, what do poor people stereotypically eat?  Rice and Beans, Spaghetti, Peanut Butter sandwiches…aren’t all of these vegan meals?

Smarts

You may have read that I lost over 140 pounds about 20 years ago.  I changed one food item to a better version each week.  The power I possess is that I never changed back to the bad version.  I never changed from whole wheat bread back to white bread, or from brown rice back to white rice.  I’ve said before “the financially smart lifestyle is VERY similar to eating smart lifestyle,” though a smart diet is much harder to maintain than money smarts.

As we transitioned into our “summer challenge of no meat” or dairy as well, this was normal for me based on my very clean eating style (‘diet’).  We already ate LOTS of fruits/vegetables and whole grains.  The new addition was increasing our beans/lentils.  [Insert Instant-Pot miracle here]

Options

I’ve found that there are SO many meatless versions of foods available in the grocery stores now.  I’ve also noticed that more often than not, they are not truly healthy/clean alternatives.  They are often “natural” but loaded with Sugar Oils Salt (SOS).  The marketing machines of the US definitely want to provide options that they can push on us to increase their earnings.  They will meet our needs (meatless) but may not be better for our long-term health prospects (or wallets).

Health and Money trends may be aligned.

So now I eat interestingly enough meals to be satisfied.  I often have whole grain bowls (rice, quinoa, etc) with a scoop of legumes (beans, lentils), some veggies tossed in (cauli, broc, greens, potatoes, other colors) and top it off with a little sauce of worldly flavors (the weaker part of my meal).  I eat Mexican, Asian, bbq, citrusy, spicy, sweet, dark, tangy, etc. depending on my mood.

I’m not sure the cost of these meals/bowls, but I have to think they are in the range of quarters/50cents for rice/beans/sauce.  I’m lucky, having eaten clean for some many years, I don’t feel deprived.  I get my fuel easily and then go about my day.

Side note:  Strangely as a non-meat eater, I don’t like, or eat salad.  I’m a strange vegetarian…a strange version of a vegetarian.  I guess in so many ways I am just a different breed.

So my suggestion for your wallet and far more importantly, your health, try a few hearty, heavy, thick meatless bowl meals and see how it works for you.  What’s the worst that could happen, extra cash and less weight?

1. Use your Amazon Prime/Prime Visa at Whole Foods.  It’s my understanding Amazon Prime discounts apply at Whole Food stores.  This is a great way to get super specials and the Amazon cash back discounts…maybe bundle the sale price AND cashback.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

What if your brain goes bad?  What if you start to lose control of your functioning?  STOP…and think about this for a few seconds.  In less than 30 minutes yesterday, two family friends released funding campaigns to help them deal with their upcoming brain surgeries.  Just typing this I feel a sense of anxiety at the severity of their medical conditions and how easily this could affect any one of us, or our immediate family.

FIRST, never take your health/life, for granted.  You must ENJOY EVERY DAY.  It doesn’t matter if your FIRE’d, working, going to school, etc—each day is a reward that you should treasure.  Your Health, Happiness, and Family matter most.

In order to treasure your day/life you need to be aware of the amazing-ness we posses.  I don’t know what other creatures have the same level of comprehension that we have, but I’d like to hope that human comprehension is on the highest level and that we use this comprehension to better everything.

If you are reading this you are smart, driven, and you put your brain to good use.  It’s obvious because you take the time —and put in the effort—to learn.  Your brain is vital to your lifestyle and goals, not to mention your body’s ability to function.

We know science is progressing quite rapidly to understand the body/brain, but take some time now to prep your brain for the long term.  It’s my understanding that this includes blood-pumping exercise, eating clean foods, practicing zen-ness, feeling love, and helping what’s around you.

Brain/medical issues can strike anyone.  The two family friends are a young woman with three children and an older woman with three children.  Not only are these mothers dealing with the issues related to the diagnosis, but so are their children and grandchildren.  These families are dealing with such pain.

As for our personal abilities to help in this time of need, it looks like we will be able to help some financially, as well as with housing and assistance during this treatment time to allow for more energy to be spent on recovery.  FIRE continues to be a gift to allow us to help—and spend time with—those we care about.

Please take action to enjoy each day, take care of yourself, take care of others and try and plan for alternate futures.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

{These are my personal observations and opinions of the events that took place.  I may be wrong}

I attended a meeting for a family financial planning education group.  I could tell from the pictures this would be some kind of recruitment or sales-y meeting.  I had no idea it would make me physically sick to my stomach!

I love learning more and more about financial planning.  I love the feeling of gaining new skills that are applicable to my life.

I’ve been to some great financial meetings (ChooseFI locals & Bogleheads) over time and find them amazingly rewarding.  I decided to try and find more meetings to gain knowledge so of course, I looked for some meeting opportunities.

There have been many financial meet groups that were available over the years, but one popped up last week that was located less than one mile from where I was staying.  PERFECT.

The meeting was titled “Financial Education.” The details: “Too many families are being overlooked because most financial service firms focus primarily on the wealhty.
Our focus is to provide households with information, tools, and strategies to help them make good and informed financial decisions.”  (the typo is not me, it’s in the description—maybe to not be liable, but isn’t that the most important word in the description?)

I hoped the meeting was going to explain household finances 101.  In actuality, it did explain IRAs/Roths, stocks, taxes, etc…insurances…but with a slight slant.

EEERRRK, then things changed to the attendees going from learning about financial planning, to becoming “financial planners” just as the presenter (“co-owner of the presenting business”) is now, just 5 months after quitting her waitressing career.  WTF?!

I could tell from the meeting photos that this could be a recruiting meeting instead of a learning environment (“learning to sell financial products…”) but I hoped for the best.

As I said, the first half of the beginner meeting was explaining finances with a slant.  The second half of the meeting was how much money you could make IC’ing for this company.  How much money was out there in baby boomer qualified accounts “that had to be withdrawn at 70 ½.”  Not “minimum” required distributions, but “withdrawn,” implying ALL.  With a 3-7% commission for the financial company…all while protecting the family from high 1.5% YEARLY fees from other companies.  Slanted facts in many cases.

At this point, my skin is crawling slightly because I can feel their sights on 10,000 baby boomers turning 65 and then 70 each and every day.  Those lovely seniors with a large percentage of the “25 trillion dollars” in retirement accounts.

As this explanation of “protecting families” money from the stock market waves (ups/downs) is going on, I’m thinking how the almost-to-take-effect fiduciary law for retirement accounts would most likely have stopped this business from selling 70-year-old people products that lock up their money for five to ten years.  The sale of those products may be “suitable” but I can’t imagine the lock-up is in their best interest.

The beginner meeting ends and we’re told if we’re interested we can go sit in on the end of the “intermediate or advanced” meetings.  I jumped to the intermediate meeting.  Everyone was dressed in their suits and dresses and fancy shoes (at 9pm on a Tuesday).

I catch the earning power potential section.  …If someone saves $300/mo into the insurance product, that is 300*12mos=3600 points.  From what I recall, a handful of these sales each month equal $3999/mo in income.

Continuing up the levels of the ladder…the top “financial planner” who has 20 people selling 20,000 points per month would make 1,020,000/yr if I recall correctly.  One million per year doing NOTHING because their “team” is selling.  I’ve never been to any multi-level anythings, but this sure looks like each level above makes money from the lower levels selling the products, AND bringing in more team members below.

Here’s the horrible part.  This could simply be my personality and not any fault of the business.  The end of the intermediate meeting had a leaderboard update.  Who met with the most clients, who brought in the most prospects (meeting attendees/sales), who signed up the most new team members, who earned the most sales points…Each “winner” being cheered louder and louder by the dozens assembled.

I swear this to be 100% truth.  During this competition update, my stomach started flipping out.  I felt queasy and then worse, I had to smoothly exit the room (during one of the standing/clapping celebrations) because I thought I would going to lose it and vomit immediately.  This is NOT a metaphor. I was becoming physically sick at that moment.

I went into the hallway, leaned against the 2^nd-floor railing and breathed deeply for a few moments until everything settled down.  Nothing like this had ever happened to me before unless I was on a roller coaster, super windy road or bumpy airplane…all of which evoke some fear of danger or death.

I hate to say this, but it turns out the government may have had a good idea to get even bigger in order to help people protect their money.  Of course, I’m assuming my feelings are correct, that this is not the best thing for most people.  Remember, I’m not a professional.  However, I have completed have my 10,000 hours of working with my family’s finances.

Another thought I had along the way.  There were multiple business names used throughout the evening.  I’m not sure what this company was actually called.  I did see the Avery label stuck on the suite’s nameplate—which was using a different name than the powerpoint slides, the posters on the walls and the trophy’s for top salesman going back at least five years…  Warning: Danger Will Robinson.

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.

72 hours of amazing!

Last weekend I joined 60+ AMAZING people for a weekend of…well, when I really think about it, was a weekend that’s almost indescribable.

• It was a group of people “taking control of their financial lives in order to build an amazing future.”
• It was a group of people who have vastly different lives and experiences, all of whom are locked into a better future and
• It was a group of people who probably ranged in age from 20’s to 60’s. A group of ages where anyone of any age could talk to another person of any age, and it was extremely easy and valuable for both.

Before I go any further, I want to say that I wasn’t able to talk to everyone.  Here’s the kicker, this strikes me as surprising that I noticed my disappointment of not being able to engage with 100% of everyone.

I normally don’t talk to many people.  I usually choose to listen to conversations and try to be a participating-observationalist.  I’m quite introverted in real-life.  Yet it was easy and actually energizing to converse with probably 65% of the group over the weekend.

At CampFI, with ALL the freaking amazing people I wanted more.  I asked questions, probed into people’s lives, asked for stories, and it seemed we all opened up, I’d bet more than—or much more—than we normally would to other people we’d meet.  I felt truly connected to this group as a whole and individually.  Many people attending now know more about my life and thoughts than anyone outside of the Camp.

Everyone I spoke with was very smart, sharp, well spoken, logical, thoughtful and probably the best part, super funny, snide, witty and spot on with their jokes/comments.  I laughed so much, even with people I’d just met minutes before.

Here’ the deal: presentations, pop up breakout sessions, small group gatherings, board game groups, hiking/running/biking/meditation/yoga/drinking groups, LONG meal discussions in the cafeteria which could last until the NEXT meal, group discussion standing outside at 1am because people can’t make it back to their room, and my fave (the worst part?) was the “goodbye” announcement that took 45 minutes or so.  It’s the people you meet.

Over the weekend I noticed EVERYONE that I spoke with I made a connection.  Actually, I felt a core connection with each amazing person speaking with me.  This connection and interest seemed to happen nearly immediately.  There was a genuine interest in that person’s life and path.  The connections came in many different areas of life, but I believe all were forged due to a common core value we all hold.

This internal power, being in control, being better, working to be even better, being different than so many others just turned out to be the deep value we all possess and could feel from each other.

There were also some connections that went truly deep.  Someone who just seemed to have a similar situation with me.  A conversation that could have gone on for hours, or possibly did.  A connection that will continue in the future, and most probably in person again—not just online.  I just think how special that may become.

I feel the bottom line is, not very many people think about FI and the power it entails (yet?).  This large group understands, and there is a bond between us.  I’m going to find those connections at future CampFI’s because I want (need?) this “tribe.”

To the extra special few:

Quick thanks to Stephen for the bias for action to set up these camps (side hustler, but for our benefit).  The connections we all made, make a difference.

To Brad and Jonathan for thinking up a great ‘generic-ish/inclusive’ podcast that is engaging for such a wide breadth of interest…you have solidified ideas and sparked change, and linked together so many thousands (and possibly hundreds of thousands) of lives.  My hat’s off to you both.  Truly world-changing—for decades in the future.

The takeaway:  Find others like you.  Go to the meetings if you have a group nearby.  Go to CampFI or a similar even if you can.  Even if you’re not a social person, continue to surround yourself with people like you, or people you’d like to become, and expand your group of those who have the same core values.

“CampFI…You’ll sleep when you get home”

*** Nothing in this article is to be construed as financial advice.  I am not a financial planner, nor do I pretend to be.  You should always consult your own professional when seeking advice.