I love you, honey. If I die, you’ll be rich.

My wife and I were recently talking about what she should do with the proceeds from my life insurance if I were to die tomorrow. We’re in Europe right now, and everyone is pretty on edge about civilian-targeted terrorist attacks. I realized that I have been building up a pile of what I call “I love you money” for years, but I’ve never put together a plan for my wife to act upon in the unfortunate even that I die early.

In this post, I am laying out my plan for my wife. This post will provide a framework for her to follow that will have her and my children’s needs covered for the rest of her life, and hopefully longer.

I want to also write a little about what “I love you money” is, and why it’s important. If you don’t have a plan to leave behind buckets full of “I love you money,” then hopefully this post will get you off of your ass and get your loved ones protected. Continue reading “I love you, honey. If I die, you’ll be rich.”

I love you, honey. If I die, you’ll be rich.

Side hustle awesomeness: get paid for drinking beer

I have the most bad-ass, awesome side hustle ever for you guys today. Who would like to get paid to travel all over the USA and other countries for four months, drink massive amounts of craft beer, and blog about the experience? Sound amazing?

Even if you have a full time job and a family, I want you to apply to be a World of Beer intern if traveling the world and drinking beer appeals to you. In this post, I’ll tell you about the side hustle of a lifetime, why our married with kids readers should definitely apply, and why you need to apply even if you have a full time job you THINK you can’t walk away from for 4 month. Continue reading “Side hustle awesomeness: get paid for drinking beer”

Side hustle awesomeness: get paid for drinking beer

Cognitive Bias and why automatic saving will make you rich (get $150 for reading!)

You need a plan for automatic saving, because you’re brain is stupid. I know it’s usually not a good idea to insult the reader in the first sentence, but it’s not just you. I’m a little stupid, too. So is pretty much everyone else.

In this post, I’m going to talk about the concepts of cognitive bias, mental heuristics, and decades of research in cognitive science that says that you are very likely to continue doing stupid shit like spend more than you earn. Hopefully, by the end you’ll realize that you need to start getting your brain out of the way as much as possible. I also realized I promised you $150 in the title. We’ll get to that. Continue reading “Cognitive Bias and why automatic saving will make you rich (get $150 for reading!)”

Cognitive Bias and why automatic saving will make you rich (get $150 for reading!)

Why I shut down an online side hustle that earned $3,000 per month

When I was in graduate school many, many beards ago, I built up a pretty decent little side hustle that was bringing in over $3,000 per month. I was able to build up to that level of income fairly quickly, too, starting with a few hundred dollars in profit the first month and reliably pulling in $3,000 per month six months later. Then, I built a very expensive information product with a short shelf life, but with the potential to double those monthly earnings for a very, very long time. However, within one year I had set fire to the entire business, burning up several grand a month in income. I have absolutely zero regrets.

Today’s post is about the differences between building wealth and building a job. I don’t mind working. I love to create jobs for myself that I enjoy. That’s the whole point. But you have to be very careful with the projects that you take on, because they can easily become time- and energy-sinks if you’re not careful. Your time may be way more valuable than the money. Continue reading “Why I shut down an online side hustle that earned $3,000 per month”

Why I shut down an online side hustle that earned $3,000 per month

Should I max out my contributions to pre-tax retirement plans? Even if I want to retire early?

You have decided that you will grow a terminal beard because you want to be a supreme bad-ass. At the same time, you realize that every dollar you are able to save acts as a bad-ass multiplier, pushing you into the realm of the most bad-ass bearders of the world. You plan to multiply your bad-assness so much, that you realize that it would be very easy for you to retire in 10 years, by around your 45th birthday.

What if someone came by and told you that you could chop a couple of years off of your early retirement plan without having to save or earn one extra penny? By taking advantage of this one little idea, you could set your wealth generation on autopilot and protect your financial plan from that most devious foe: yourself. You could also stick it to the man by ensuring that you pay almost no taxes now, and even less when you retire. Sound good? If so, then all you have to do is pile every cent that you can into maxing out every pre-tax retirement vehicle you have available to you. Continue reading “Should I max out my contributions to pre-tax retirement plans? Even if I want to retire early?”

Should I max out my contributions to pre-tax retirement plans? Even if I want to retire early?

Stealth wealth and why I’m a sock puppet

My about me page tells you a little about who I am and why I practice stealth wealth savings accumulation. I thought I would churn out a short little post that goes into a little more detail about why I am blogging, why I reveal lots of personal information, but at the same time remain completely anonymous. Maybe I’m scared someone might find out I have a beard!

I also want to talk about an interesting concept that Financial Samurai calls “stealth wealth.” Although my family’s net worth is relatively low when compared with those making up the personal finance blogging community, we still have considerably more assets than many of the highly-paid people that surround us everyday. Trust me, they complain about how little they have All. The. Time. I wouldn’t hear the end of it if they started learning about out little plan to check out of the workforce within the next ten years.

So who am I, why blog, and why am I a sock puppet?
Continue reading “Stealth wealth and why I’m a sock puppet”

Stealth wealth and why I’m a sock puppet

Is your new financial journey becoming an obsession?

I’m a beard on fire. A few months ago I discovered Mr. Money Mustache while reading one of my favorite non-money blogs, The Art of Manliness. Since then, I’ve read every single MMM post and I’ve continued to wander deeper and deeper into the forest that makes up personal finance blogs. I’ve also just started a yeard journey, which is a holy quest to achieve beard awesome. There’s a lot of rabbit holes on the world wide web to find yourself falling down in that niche, too. Basically, I’ve gotten obsessed with this stuff. So much so, that I created a silly little blog about growing a beard and my net worth. But is all of this obsession a good thing? If you’re like me and fresh on the boat to beardsession and money-neurosis, then maybe you know what I’m talking about. Are you wasting too much of your time? Continue reading “Is your new financial journey becoming an obsession?”

Is your new financial journey becoming an obsession?

One neat trick to get a $2,392 per year raise without asking your boss

If you’re like me, the thought of asking your boss for a raise causes you to tense up, pop out a few extra gray whiskers, and run silently into the bathroom to throw up. I hate confrontation, and when you walk into the boss’s office to ask for a raise, you’re straight up telling them that they’re undervaluing you and you know better than they do about how much you should be compensated. That’s confrontation. So when financial bloggers tell me to get out there and negotiate for more pay as one strategy to bring in more money, I quickly start looking over the other strategies.

With that said, I’m going to let you in on some good news: just this past week I managed to get a $2,392 per year raise. That’s an extra 3% boost to my bottom line that didn’t exist last month. More importantly, that’s after taxes, which means I will get a reliable $199.33 extra in my monthly win column for a very, very long time. The best part of the whole deal is that I never once spoke to, emailed, or even thought about my boss. I’m not even in the same country as him right now. But when I check my bank balance, there it is: $199.33 more than last month. The one neat trick I used to get that raise is pretty much guaranteed to work for you, too. In fact, you might be able to score a significantly larger raise than I did, and you’ll never have to ask anyone for anything. Continue reading “One neat trick to get a $2,392 per year raise without asking your boss”

One neat trick to get a $2,392 per year raise without asking your boss

A mathematical model for early retirement

Earlier I wrote about a mathematical model for beard growth and awesomeness. In that discussion I briefly described a similar model for net worth growth. It turns out, though, that your actual net worth number is not a particularly useful measure for determining when you can retire. If early retirement is your goal, the only thing you need to concern yourself about is your savings rate. In this post, I’ll describe why your savings rate is the most important measure and how you can use it to calculate how many years it will take you to retire. If you want to retire in the next 10 years, as Mrs. Beard and I have planned, then you’ll also learn how to determine what your savings rate needs to be. Continue reading “A mathematical model for early retirement”

A mathematical model for early retirement