Financial Independence Definition

Feb 12, 2013 1 Comment

There are many definitions of financial independence around the web. Some define financial independence as being on your own without the support of family and having a job that covers your expenses. In the world of early retirement, I define financial independence as having enough passive income to cover your needs. If I was to [...]

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Real Estate License For Investors

Feb 06, 2013 Comments Off

Getting a real estate license in order to sell houses as a career is one option. What do you do when you are a real estate investor and you are buying/selling a lot of properties? Giving away a 2.5% commission is a lot of money once you start buying more than 6 figures of real estate. Looking [...]

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3 Money Rules

Jan 30, 2013 Comments Off

Some money behavior fascinate me such as the person who has $8000 in their savings account but carry a $2000 credit card balance. Give up cable if you have credit card debt Credit card debt is an emergency at 19%+ interest. You should cut back all the luxuries in your life until your credit cards [...]

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Calculating Required Retirement Income

Jan 16, 2013 Comments Off

Project your retirement expenses based on current or future lifestyle and not on your current income. Most advisers recommend planning a retirement income of 70% of your salary. If one is to live very frugally, then it may be too conservative of a calculation. If you plan to rent or still have a mortgage in [...]

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Don’t Pay Later

Jan 10, 2013 2 Comments

A family member recently advised me that I should buy a washer and dryer on a “Pay Later” plan. She claimed that it would be a very smart thing to do as I can put the equivalent amount of cash, which I have available in the bank, into a savings account or an investment vehicle. [...]

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How To Have A Frugal Wedding

Jan 09, 2013 1 Comment

The average US wedding cost in 2012 was over $27 000. What does $27 000 get you? For most bride and groom, it gets them a stressful day, little face time with their guests, wedding bands and an exotic honeymoon. All this to provide a day that most guests will soon forget about along with [...]

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Retirement Same For Young And Old

Jan 08, 2013 1 Comment

It amazes me the response of peers when I share my story of Mr. Cannes and I retiring within the next 5 years. Many times I don’t get much of a response and assume my peer simply does not believe it can happen. At other times, the response is a question of why I would [...]

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2013 Goals

Jan 02, 2013 Comments Off

Last year was a successful year. Mr Cannes and I have reached financial independence from our rental income. I reduced several recurring payments including lowering vehicle insurance, house insurance and internet service. My rental properties thrived as they have been for the last 4 years While I added 1 more property to my portfolio. Finally, I [...]

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Experiences Same As Consumer Goods

Dec 31, 2012 2 Comments

There has been a trend in personal finance blogosphere to discourage spending in consumer products and instead increase the experience fund. Many bloggers justify these experiences while talking down on the goods. This is often seen in the minimalist culture. Don’t get me wrong, I’m on the experience side myself and would rather not buy [...]

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Frugality Sacrifices – Part 2

Dec 28, 2012 Comments Off

In order to achieve a higher savings rate, I gave up a few vices to be even more frugal. Frugality is a journey. Frugality goes up and down depending on my life circumstances and there are always areas to improve. Vices to give up Long showers I love long showers. They are relaxing and warm. [...]

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