How can we teach our kids about wealth, investing, and philanthropy in an understandable and engaging way? This is a different question than what my wife and I have asked ourselves in the past. We have worked hard to teach our kids about the value of money, saving, and avoiding consumerism. Our family also participates in charitable activities in our community, mostly focused on food security for both adults and children. Our kids are teenagers now and old enough to engage in more technical discussions about money. I want to share with you a small philanthropy project we started with our kids and challenge you to do similar.Continue reading “Creating A Family Philanthropy Fund”
It’s Halloween and the Dow is at a breathtaking 23,377 roughly 100 points off of the all-time high reached earlier this month. Yes, I’m a little spooked at these heights and so are some of my friends I’ve been talking to recently. None of us participating these conversations are stock brokers or financial advisers; just motley fools that can’t believe our good fortune and trying not to screw it up. We’ve read FIRE blogs, watched CNBC, and heard the low cost index and diversify advice so many times prior; but we still get acrophobia. And why wouldn’t we? My crew is filled with cynical forty-something Gen Xers who experienced the euphoria of dot com fever in our 20’s , purchased homes with little or no skin in the game in our 30’s, and watch it crash and burn. . . twice. We don’t need investment advice; we need group therapy. Continue reading “The Stock Market Is High, Don’t Get Spooked!”
This is the third post in a series about my PeerStreet account.
In the previous post I showed you what the process looks like to fund an individual account at PeerStreet, so now it’s time to get busy investing the $10,000 I deposited. Investors can pick individual property loans to invest in or use PeerStreet’s automated investing tool. Here’s what each of those look like.Continue reading “My First Investment at PeerStreet”
This is the second post in a series on my PeerStreet investment account
Progress to First Investment
The first post in this series shared my experience setting up an individual investor account at PeerStreet. In this post I will show you what’s involved with funding the account. It took several days to get my account funded, but not because PeerStreet is slow. My local bank was the slow link in the chain, which I’ll explain below. Continue reading “I Funded My PeerStreet Account”
This is the first post in a series on my PeerStreet investment account
What is PeerStreet?
The day after I setup my account I received an email and a phone call from Ethan at PeerStreet. He asked me if I had any questions. I said, “yes, how do I explain to my wife what I’m about to invest in?” The fact that I asked this question should be a red flag, because it’s a good indicator I haven’t done enough research yet. As a general rule I don’t invest in things that I can’t explain to Mrs. R., but I got around it this time by telling her I’m only going to start with $10,000 and see how it goes. Continue reading “I Opened A PeerStreet Account”
The nice people at Millennial Money Guide recently approached me about contributing an article to their site. It was great timing on their part because I had just been helping a friend, who is in his late twenties, with his resume and we had been talking about how to increase his marketability. The article that I submitted is about the best career advice I was given in my late twenties when I decided to make a career change. This simple advice changed the trajectory of our financial lives; and that is not an exaggeration.
If success is nothing but a series of failures, then financial independence is a trail littered with dumb financial decisions, and I’m here to confess that Mrs. R and I have made plenty of them. The truth is that most people who have any money, have also made money mistakes. Often it’s the mistakes that were the catalyst for change that eventually led someone to choose FI. Here’s my confession booth list of stupid money choices we’ve made and survived. Continue reading “12 Dumb Money Choices Before FI”
Mrs. R and I have recently become big fans of financial independence and early retirement blogs and podcasts. We’ve been so busy living our frugal lives that we didn’t notice there are a bunch of people online talking about how they are doing the same. We were also unaware that the way we have chosen to live our lives had been given the cool sounding acronym F.I.R.E. Some of our friends occasionally comment about us being good with money or call us frugal, but we don’t have in-depth conversations like the ones we see and hear on-line. Maybe we’ve misread our friends and they were trying to open up a conversation about money, but overall it has been our experience that most people where we live aren’t comfortable talking about personal finances. Also, as I’ve stated before we are pretty guarded about letting people know the full extent of our financial affairs. So retiring early definitely is outside the norm for our local peer group, but not retiring early also feels outside the norm for our online peer group. Which has recently led me to ask myself, “why am I still working as someone else’s employee?”.Continue reading “Why I Am Not Retiring Early”
It’s springtime again and like many people we have been working in the yard, flowerbeds, and garden. Working around the house recently got me thinking about the many ways we have saved money over the years on landscaping and other items in the yard. We first started reducing our costs when our house was being built. Our builder helped us put a little more of the budget towards the house by letting us do some hard labor, like building site clean up. Mrs. R and I used to come over to the house on nights and weekends to sweep up construction dust and throw bricks, scraps of wood, and other random trash laying around the property into a big gooseneck trailer. We also did all of the landscaping. Here’s a list of money saving ideas in the yard we have used over the years. Continue reading “7 Frugal Landscaping Ideas for the FI Community”