Stop reading this. In fact don’t read anything else. Reading these blog posts won’t give you financial motivation. You know what will? Going outside. The Simple Things Will Provide True Financial Motivation: Today is going to be a beautiful day outside. The sun will be out, the temperature will be right, and there will be a beautiful stillness just over the trees in the distance. Just for a little while forget about your problems, forget about work, and forget about making more money. Dwelling on those things isn’t what’s going to motivate you. Dwell on them for too long … [Read more...] about Want Some Financial Motivation? Get Off Your Computer and Go Outside!
We spend an awful lot of time on My Money Design talking about not only how to successfully plan for retirement, but even some strategies for how to get there as early as possible. Why? Because I think that financial freedom and the ability for you to choose what you do with your time are some of the most gratifying things you can accomplish in your lifetime. The big question then is: What is it that I want to do with all this time once I finally have it? - That’s a very good question, and not one to take lightly. Having some post retirement ideas and goals for what you’ll do with … [Read more...] about My Post Retirement Ideas for When I Become Financially Free
So I’ve been thinking … Last year I wrote a post about how I was thinking about diverting some of the money we were contributing to our 403b retirement fund towards our dividend stocks instead. This was somewhat of a controversial move because traditional personal finance advice is to invest in your tax-sheltered accounts, not your taxable accounts! After all, why would you want to save your money in an account where you have to pay taxes? But it wasn’t that simple. There were several more alluring reasons why investing in dividend stocks would make more sense: … [Read more...] about Exploring My 401k Alternatives – Maybe More Dividend Stocks?
In this month’s issue of Money Magazine, I came across an article entitled “When the Wilder Ride is Worth It”. The article was addressing how sometimes a company’s stock and dividend payment can be a better prospect for stable income than its bond. To make this comparison, they looked at the return of the bond against the dividend appeal (which was largely based on it's payout ratio) and any inherit stock risk based on the company itself. Whenever I find an article like this about semi-guaranteed income, I tend to pay extra special attention to it - and with good reason. Strategies such … [Read more...] about Can the Dividend Payout Ratio Help You Pick a Good Stock?
What a great time of the year to receive the next installment of my “truly” passive income. By luck, it just so happens that my next series of payments from my dividend paying stocks was scheduled to be paid in December. Couldn’t we all use a little extra cash right before Christmas as the bills start rolling in? Over on the left are the results of my third batch of quarterly dividend payments received for Quarter 4 (Q4). … [Read more...] about My Stocks with High Dividends Income Report – December 2012
I was very pleased with the level of interest and positive reaction I received for my previous post on how I plan to retire early in Money Design update in October. However, that update was only merely a sketch of where I wanted to be. As I’m sure any designer can tell you, no blueprint is ever really complete until you put numbers to it – even if it’s a blueprint for your plan on how to achieve financial freedom. In this update, we’ll seek to build upon my earlier retirement income strategies by making some assumptions about how much money my family could expect to take in from our … [Read more...] about My Money Design for How to Achieve Financial Freedom – November 2012 Update
Frequently when you think of planning for retirement or becoming financially free in general, you think about how much money you’ll need to save in order to generate the kind of income that you’re use to. For example, how can I save $1,250,000 so that I can draw 4% and take out $50,000 each year? In this post, we’ll look at the other side of the coin. Instead, we’ll look for a way to reduce how much income you’ll actually need while on your own. And how will we do this? By focusing in on one of your largest expenses – your mortgage. … [Read more...] about Before Retirement, Eliminate Your Biggest Expense
If you have any hopes and dreams at all of retiring early, then you know that one of the biggest challenges you face is the fact that there are penalties for withdrawing your money too early from your retirement accounts. For most of them, this will be age 59 ½ (click here for a complete list). So one of the re-occurring questions that we keep asking on MyMoneyDesign is: • How do I bridge the gap between early retirement and age 59 ½? In previous posts, we’ve reviewed the following non-employment, investment-style options available: • File for a 72t or “SEPP - Substantially Equal Periodic … [Read more...] about Will Dividend Stocks Help Me Retire Early?
Click the image to visit Amazon.comThis is one of the most entertaining and unconventional financial life-style books I have ever read. Not only will it open your mind to a world opportunities that few people even know exist, but it will challenge the status-quo of how you live your life. … [Read more...] about Book Review: “The 4-Hour Workweek, Expanded and Updated” by Timothy Ferriss