The Financial Independent One

One morning I woke up and realized it, so I just packed up my stuff and moved out.  It was over; she knew it and so did I.  Hit me like ton bricks;  no fight, just a long and deafening silence. If I had to pay someone else’s mortgage, at least help with it, then it would be family. So I moved into the unfinished and long forgotten apartment. Finished it up and all parties ended up quite happy. They now had rental property and I had a place to live at a very reasonable, actually below market rate. The time to put my needs first, ahead of others' wants had finally arrived. I was not becoming selfish or  irresponsible; I simply prioritized and really got on track. Working 40+ years so that I could finally retire had always seemed rather pointless. I had started contributing the maximum allowed by the IRS into my 401K and soon thereafter learned that I could actually retire at the age of 59 ½ and start withdrawing from the plan without incurring any penal...

When we finally decide to manage our financial situation  and get out of debt we often feel lost, or how to get started. There are so many things to consider. Most of us cannot tackle them all simultaneously. Many end up putting it off and never actually get started.  Just like walking, one foot in front of the other. You can accomplish your goals by attacking one task at a time.   Erasing credit card debt, paying off your car early, taking on a 15 year mortgage instead of paying it off in 30 are not easy tasks and may even seem unachievable, but paying off one credit card or adding an extra $50 into your savings account this month are achievable goals. Create a budget. This is your starting point whether your goal is to achieve financial freedom, saving for the down-payment on a house, funding your retirement or simply becoming debt free. This is accomplished by listing all your income. Take into account every dollar that comes in. Then list all your expenses. Do n...

Over the last year my kids started their college years. The "first" step into adulthood.  We as parents can only try to prepare them for life on their own.  These are some of the financial lessons I have passed along. While some may simply be cookie cutter advice, they are functional.  Many were learned the hard way, but sometimes I took notes!    T hey were free. Hope they are listening. 1.  Learn to delay gratification.  Save for goals instead of borrowing from your future.   The future you will thank  you countless times. 2. Do not feel guilty for spending money on what is important to you.  3. That happiness you feel when you purchase that (unneeded) expensive toy is just a temporary rush and will soon be gone.  4. Automate everything. Your savings so you don't spend any money earmarked.  The bills so they get paid on time; Many offer discounts when the payments are ...