How To Get Your Spouse Aboard the FI Train
After “Trapped’s” reader case I realized something. And no, it’s not that house horny people are crazy (they are), it’s that at the end of the day, regardless of whether “rent” or “own” wins, if the goal is to RETIRE, you have to sell at some point to capture the gains. Period. Otherwise you can kiss early retirement goodbye. (And don’t get me that bullshit about “oh, you can rent it out”. To meet the 1% rule of real-estate investing, a $1.6 Million dollar house will need to have a rental income of $16,000/month, not $6000.) Which comes down to […]
Reader Case: Want to Retire but Trapped in a 1.6 Million Dollar House
I was going to write a travel post this Friday, but then I got a distracted by another Reader Case. What’s so juicy about this reader case is that it’s epitome of what people in big expensive cities love to complain about: I make a ridiculous amount of money, but why I can’t seem to get ahead? Healthcare is so expensive in the States, how can I possibly retire? Legitimate questions to be sure, but the answer to why this reader isn’t getting ahead with a pre-tax family income of $300,000 isn’t because of the expensive cost of living in a big city […]
BIG Chautauqua Announcement!
Hey everyone! Today we have a BIG announcement about our upcoming Chautauqua in the UK, but first a little background. Many years ago when we first started working Wanderer picked up a book from the library he had heard rave reviews about. It was a book called Your Money or Your Life. Your Money or Your Life is considered by many in the FI community to be the original book that started the entire FI movement. This book was the first time I had ever heard the term “Financial Independence” at all. The core concept of this book that I took away […]
Side Hustles: What It Takes to Publish a Book
Now, you all know how I feel about stupid stupid houses and people’s insatiable house lust in Toronto. That’s why readers expressed shock when I featured Sean Cooper on this blog during my “week of respecting opposing views”. But what people don’t know about Sean and I is that even though we are on opposite ends of the “rent versus own” spectrum, there is one thing that unites us. Haters. Because not only were our stories the most shared stories in CBC history, no two other people have ever been flamed so hard. I recently caught up with Sean Cooper when […]
Reader Case: Can We Retire in 7 Years?
After blasting you non-stop with my obsession with Thailand for the past 4 weeks, I figured I should take a breather and do something useful. So this week we’re going to take a break from the travel series and do a Reader Case. Now, the reason this particular e-mail caught my eye was the fact that this couple reduced their living expenses BIG TIME and they credit it to discovering the FIRE movement. Just a year ago, their expenses were a whopping $80,000/year! Now, it’s $55,000/year and they’re even planning to reduce it further to $38-40k/year . Somehow they were able […]