As a Personal Finance blogger, I love the diversity of view-points and topics that are around us and some of the content is really great. It helps me understand some of the big trends and make better decisions on my own journey to Financial Independence.
I’ve selected for you 5 great articles & Several podcasts + Videos that made me smarter this month.
It’s never enough
Many of the folks on a path to Financial Independence will eventually end up in the 1% of wealth per household in the US, which is pretty impressive. By many standards, they will eventually be considered rich or even high net worth individuals.
But they are also pretty frugal.
I recently came across a couple of extremely rich & un-frugal lifestyles that were both impressive and puzzling :
- Example 1 : a 75M$ private jet with custom design. I must say that flying even business class or first class is lame compared to that. But who flies this kind of plane? If you do, let’s get in touch, there’s a few questions I’d like to ask
- Example 2: this $195 million Florida compound is the most expensive home on the US market. That is a stunning home, but what is the purpose of having 33 bedrooms? I mean seriously, thirty three bedrooms!
Who the heck buys this kind of stuff? Conclusion : be happy with the money you have, because there’s no limit to how much can be spent!
August’s also been a good month with some great posts here on the blog. If you’ve missed this month’s articles, you can catch up with the list below.
- 2 Paths to Wealth : Which one Would You Bet On?
- My Investments Have Paid For All My Expenses This Year
Now grab a cup of coffee and read on my selection of the 5 most informative articles (and podcast and videos) of August!
Apart from the thousands of folks who have read our blog since we started it in April this year, we’ve really not told a soul about our early retirement plans.
Not that you guys don’t count, but it’s a heck of a lot easier to share secret plans anonymously with the entire world, than in person with family and friends. The online FIRE community is a wonderful validation of our dreams and aspirations, but outside of that remains real life and ‘regular’ people. Family and friends who have most likely never considered the possibility of living life without working until 65 years old.
So what’s it like to start telling people? Read More…
When it comes to money, we all are motivated by different factors. Those motivating factors can also change over time based upon our formative life experiences.
However, for as long as I can remember, my motivation to achieve financial success has always been about one primary factor:
Legacy. Read More…
Every day there’s another article about how all of our retirements are doomed. Public pension promises in the U.S. vastly exceed their ability to pay. We now need nearly $400,000 at age 65 just to cover health care costs. And retirement itself increases your risk of depression by 40%.
For many of us, it’s starting to feel like the light at the end of the tunnel of life has been blocked by a triple-bolted steel door. Who’s to blame for this mess?
The Germans. Read More…
I hate debt. Owing money feels terrible and dirty. I’ve been there.
Coming out of college, I had $60,000 in loans and it was suffocating. I can clearly remember the day I made the final payment, 15 years later. I still have the letter from Sallie Mae congratulating me on paying off my loans. Good riddance.
At the same time, I willingly have mortgage debt. My current home set me back $176,000, and I had the money to pay cash. I briefly considered it but instead took out a mortgage. I kept the money invested, mostly in an S&P 500 index fund. Let’s take a look at how the experiment is coming along. Read More…
An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.
The American investment banker was impressed by the quality of the fish and asked the Mexican fisherman how long it took to catch them.
The fisherman replied, “Only a little while.”
The banker then asked why he didn’t stay out longer and catch more fish?
The fisherman replied he had enough to support his family’s immediate needs.
The banker then asked, “But what do you do with the rest of your time?” Read more…
So many sub-prime car loans are being issued, it has recently reached a 10-year high. If the phrase “a boom in sub-prime loans” is making your eye twitch with flashbacks to the mortgage crisis, just wait we will get there…
- Interview with Mad Fientist #460 on Farnoosh Torabi
- Interview with Root of Good – 1M$ in 10 years on the Financial Independence Podcast
- Interview with BiggerPockets’ CEO Josh Dorkin on the Financial Independence Podcast
There is so much great content available online and offline, if you have read / watched / listened to some great content this month, please share in the comments below!