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Thursday Hits: What Does it Take to be Wealthy?

Extreme Frugality Fatigue

“I don’t know about you, but when I scroll through social media and read popular headlines, I often feel obligated to optimize every facet of my life. If I’m not working a side hustle or hacking a better, faster, cheaper way to do everything, I’m obviously not doing it right.”

 

What Does it Take to be Wealthy in America?

“Apparently the answer after interviewing 1,000 folks across all ages and states is $2.4 million. Using a 3.5% withdrawal rate, that would throw off $84k a year to live off. ”

 

Reader Case Study: Mrs.Prickly Pear

“Today’s post is a case study from someone in this exact situation —  A modest income, and a parent that needs a significant amount of help.  To maintain her anonymity, I’ll be referring to her by the moniker, Mrs. Prickly Pear.”

From Rockstar Finance Original content and syndications

Real Estate, Rockstar Content

Where Are We in the Real Estate Cycle in 2019?

Back in 2018, Robert Shiller, founder of the eponymous Cape-Shiller index, warned that the housing market was becoming overheated. While it’s anyone’s guess whether we are due for another crash, we can look at market indicators for clues about where we are in the real estate cycle. The Four...

Featured, Newsletter

Wednesday Hits: Where in the Real Estate Cycle Are We? Do You Want an Inheritance or a Cruise?

Where in the Real Estate Cycle Are We?

“The Case-Shiller index shows national housing prices are increasing at the slowest pace since mid-2012 in February. This suggests the expansion phase is losing steam.”

 

Do You Want an Inheritance or Do You Want a Cruise

“Looking at it coldly, the cost of this holiday would have covered our living expenses for four months so we could have FIREd sooner. Is any two-week holiday worth working for another four months? For me, the answer is unhesitatingly yes.”

 

Don’t Buy a Home

“Let’s pick another time period: 1975-2013. A $100 investment in a home would have returned $100. A $100 in the stock market would have returned $1,600.”

From Rockstar Finance Original content and syndications

Newsletter, Rockstar Content

If you think financial advisors are a waste, here are six reasons why they aren’t

Managing finances properly is a crucial life skill. Everyone needs to know how to balance a checkbook, pay their bills on time, keep their credit rating in good order and create an overall life fiscal plan. Many people have a basic financial education. However, specific circumstances often require...

Featured

Tuesday Hits: You Are what You Spend, Maximize Career or Adventure?

Budget Alignment: You Are What You Spend

“Looking at my list of trends and themes, it came time for a reckoning: Is this who I am? Is this what I value? Did I want a closet full of clothes I got because they were on sale, or did I want an actual emergency fund? Did I care about cute throw pillows that ended up on the floor covered in dog hair, or did I want to pay off my private student loans? ”

 

Maximize Career or Adventure?

“The premise is this: folks out there know some form of career is necessary, but they’re overwhelmed by the idea of 40+ years of something that isn’t the dream job. Oh yeah, and they’re obsessed with rock climbing.”

 

Your Financial Plan is a Compass, Not a Map

“But there’s a bigger concept here: we don’t create a financial plan to tell us to the decimal place what to do with our money. We create a financial plan to give our money a purpose.”

From Rockstar Finance Original content and syndications

Newsletter, Rockstar Content

How to get started real estate investing in expensive cities

By: Real Finance Guy Getting started with real estate investing can be tough. Real estate is generally quite expensive, so the price of entry is high. Even a modest single family home in a relatively low cost of living city like Indianapolis or Spokane start in the $150-250k range, meaning a 20%...