Funding the Adventurous Life
We’ve all heard the phrase “money doesn’t buy happiness.” However, new research suggests a strong correlation between income and well-being, with no apparent ceiling. How can we interpret these results and reconcile what we’ve always been told about money and happiness?
Continue reading “The New Research on Income and Happiness”
This week we’re taking another look at your specific questions. Today we examine the thorny subject of income and how much is needed to pursue financial independence, how we fund our lives without a job, the best option for medium-term saving goals, some discussion of real estate investing, and a requested expansion on last week’s post about emotional fragility, plus plenty more.
Here’s what you wanted to know…
Continue reading “Your Questions Answered: Volume 2”
Back in October, after the passing of Supreme Court Justice Ruth Bader Ginsburg, I wondered if healthcare was about to get a lot more expensive. Now, health insurance is about to be far more affordable for those of us at lower income levels.
The American Rescue Plan Act (ARPA) is a $1.9 trillion stimulus package, signed into law on March 11, 2021. And this thing is massive! Tell them Large Marge sent ya! Mainstream media has expectedly latched on to the $1,400 stimulus checks and the very generous extended child tax credit. However, the news bulging my eyeballs is the boost coming to the Affordable Care Act (also lovingly known as Obamacare).
Continue reading “Some Fantastic News on Health Insurance Costs”
Alrighty, folks. This week I’m pleased to bring you a low-down-and-dirty financial deep dive with climber, writer, father of five, and lover of personal finance: The Frugal Professor. In this interview, we hold our breath and plunge into complex issues surrounding actually spending all this money we save for periods of no traditional income, meanwhile navigating the treacherous, shark-infested waters of the US healthcare system.
I’ve always said that saving and generating wealth is shockingly simple once some key concepts are understood, implemented, and doggedly followed, through thick and thin. And I’m sticking to my story.
What is not so straight-forward, however, is threading a very fine needle on living off the money we’ve saved. In a period of no traditional income⏤call it “retirement” if you want⏤we shouldn’t be just selling shares and calling it a day. We have to optimize healthcare spending, minimize taxes, and avoid early withdrawal fees and penalties meant for a much more traditional retirement.
But with a little planning, it ain’t no thang.
Let’s roll up our sleeves with the Frugal Professor and get a little dirty, shall we?
Continue reading “The Frugal Professor: Let’s Get Deep in the Weeds”
WHOOAA!! Yes, it’s true. By the time you are reading this, I have finished my last day in Corporate America, facing an uncertain future. We have achieved financial independence, perhaps reaching a new pinnacle of unrelatability. I have no job, and I have no plans for a job. The story of how this came to be is both planned and not, but either way, I’m incredibly excited for what is to come. So, how did we get to this point?
Continue reading “BREAKING: I (Sort Of) Quit My Job”
I’m sort of fascinated with the concept of fear. It’s the entire subject of this post, but it’s also something I weave into a lot of my thinking and writing. Steve Bechtel told us how fear affects his clients, noting the powerful, crippling effect of worry, inaction, and ultimately⏤unfulfilled potential. All the best ideas mean nothing when we lay catatonic and hesitant to act on those ideas. It therefore seemed suitable for me to reach out to Hazel Findlay.
Hazel Findlay is a UK-based professional climber known for bold, traditional ascents. To use the American parlance, Hazel steps up to the plate.
Not only has Hazel learned to harness and use fear to propel her climbing career, but she’s begun a coaching career in tandem to mold and shape the fear of others. And speaking of fear, we discuss how her blossoming climbing career nearly came to an early end.
Continue reading “Hazel Findlay: Fear Is Trainable”
A year ago, in December 2018, I wrote two posts concerning the “imminent” recession: Five Ways to Recession-Proof Your Life and Keeping the “Safe” in Safe Withdrawal Rate. Well, a year has come and gone, and as I write this in December 2019, we are at yet another all-time high in the stock market. America’s longest bull market continues gouging ahead like those fiery beasts in the narrow streets of Pamplona, Spain.
Is this time different?
For those of you out there beginning any sort of retirement (early or not), is your timing perfect or incredibly unfortunate?
How about if you are wondering if now is the best (or worst) time to start investing?
Let’s have a look…
Continue reading “You Know A Recession is Coming, Right?”
Yes, it’s true. Mrs. CC and I have an established high-income career in the oil and gas industry. And yes, it’s true. Our incomes far exceed our needs. So that’s it right? There’s no more that needs to be said.
Of course we can save and invest and be financially independent when we’ve sold our soul to the devil for a fat paycheck. Everyone in the industry must be wiping their oily and gassy asses with $100 bills and planning their early retirements on the French Riviera. Au contraire dear reader, for I have a story to tell.
Continue reading ““Financial Freedom Is Only Possible With Your Soul-Sucking, High-Income Career””
This is a tough subject, brimming with unspoken taboos. The more I’ve researched, read, and written about personal finance, the more deeply I’ve come to understand a fundamental truth: many people want a certain lifestyle, and they are going to live that life regardless of whether there is money to support it. Do you deserve a life you can’t afford?
Continue reading “Do You Deserve a Life You Can’t Afford?”