Warren Buffett on Betting Against America – Don’t Do It!

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Given the recent turbulence in the markets, I thought this was a good a time as any to remind people to stay calm. As I peck away at the keyboard the DJIA is down 2,523 points (24,446 on 10/29) from its all-time high of 26,966 set on 10/3/18 (that’s about a 9.4% sell-off that has taken place over the last four weeks). Let me present a few additional points for proper context: (1) It’s normal for the market to go up and down. This is the normal ebb and flow of market movements. You know that 8% return you expect? Well, that doesn’t come without a bit of volatility. (2) This could be the start of the next recession but no one …

Are you prepared?

Are You Prepared If $hit Hits The Fan?

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Are you prepared for your eventual death? What about an untimely death, via a freak accident, illness, or other unforeseen events? Do you have an emergency plan for that? How about a disabling occurrence – what’s your plan if you live, but become unable to take care of your family? No one likes to talk about these things, but we all need to. Grief from loss or stress of disability would be difficult enough without leaving behind a mess for your family to clean up. Figure these things out now, when you have time to make good decisions! To help us address these questions, I have asked my friend Lynn to write a series of blog posts to educate us …

Huge BOO-st to Your Savings Just in Time for Halloween

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Happy Halloween! There are Monsters and Gremlins out to gobble up your treats, Freedom Fighter! Except this fright night will happen 365 days this year if you don’t keep watch. Maybe you’re building your war chest, waiting for the opportunity to deploy massive capital. Or, you’re working your steady-as-she-goes savings plan every month. Maybe you’re just keeping that emergency fund full? Somewhere, you’ve got cash. Now some investors like fat stacks of cash – “cash is king” – and some people do not – “cash is a drag.” But hey – some trick-or-treaters like Snickers and some prefer candy corn. Whichever cash camp you fall into, one thing is true: you want the highest interest paid on your savings. Period. …

Amazon Prime

I Confess: The Cost of My Love Affair

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That’s right – I’m in love! I don’t know how I let this happen…it started out so innocently. Please don’t judge me before you read on. I think if you know the full story you will understand. I had no idea that it would last this long…I thought it was just a phase that I would eventually get bored with. But the complete opposite happened. It’s so intense that I don’t think I can ever stop. It just feels so right. It’s been ten years…and it’s no phase. My obsession and infatuation have only grown stronger. At the beginning, it was an infrequent kind of thing. Seriously, months could pass with no interaction. But my love of books kept bringing us …

CHASING FIRE INTERVIEW SERIES

Chasing FIRE Interview #1 – FIRE Starter: Zach

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Today we begin a new interview series. I have always enjoyed reading and listening to interviews to learn how people got to where they are, so as to learn from the successes and failures of others. Each individual’s story and path is unique, and we can certainly gain insights from those generous enough to share their stories. My job as the host is to find interesting people that will inspire and motivate you, as well as myself. I plan to share one high-quality interview per month (maybe even less frequently) and the questions may change over time. I anticipate this to be an iterative process and I would love your feedback in the comments (or via email: dom@genyfinanceguy.com).  First up …

Income Report

September 2018 – Detailed Financial Report #45 – Net Worth $870,156 | Income $35,981

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We have officially put 75% of the year to bed with the close of September. That means there are only three months remaining to tie up loose ends and I’ve been doing just that. I don’t know about you but this time of year fills me with an obsession to finish things. It also means I’m reluctant to start anything new. I just finished my last trip to New York for the year. I’m happy to be grounded for the next three months. We finished moving everything over to our newly created family trust. Essentially, this means we have put every eligible thing we own (retirement accounts cannot be put into a trust) under the name and “ownership” of our trust. …

LateFIRE Chapter 2: Mind the GAP and KISS Me

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Hi again! Welcome to stop #2 on my LateFIRE journey. This is the post wherein are contained steps 1 – 10, optimally prioritized for a meteoric rise to financial independence, achievable – despite starting three decades late – at sound-barrier-busting speed via silver bullets, magical strategic mistake-proof moves of unmitigated brilliance, and pixie dust. Do this and become a gazillionaire just like me, overnight! Easy! So excited to share! Um…yeah…about that… Although I wish it could be different (because I just love a good dose of silver bullets and pixie dust sprinkles), I am just fresh outta magic. Darn it all. Refresher: I looked up one day, dearly beloved, many years into this thing called life [PRINCE: yes always] and …

Mortgage Deduction

Tax Savings for Home Ownership Are Very Overrated (Especially Under 2018 Tax Reform)

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Do you believe that one of the primary benefits of owning a home in the USA is the tax savings from itemized deductions like mortgage interest, and property taxes? Weeeellll…I have some bad news for you. Despite the fact that this idea is so ingrained in most of us that we don’t even question it, any of that savings is a lot less than you – and I – might have been led to believe. Personally, I have to be the first to admit that I have overvalued these primary residence “tax savings.” And this was before the 2018 tax reform, which has only made things worse. For most of the homeowners in the USA this tax benefit has now been eliminated due …

Do You Live Life By Design?

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I have been going through all the guest appearances I’ve had on different blogs over the past four and a half years of blogging and it’s been so much fun to revisit some of these posts. I’ve linked them all up on this “As Seen On” page so you can see them all in one place. Today I want to share one I wrote a little over three years ago, originally published on Untemplater. It’s always so interesting to reflect back and see where my head was at a given point in time.  “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” – Jim Rohn …

Where The Goals, Where The Goals, Where The Goals At?

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I’d say this post was inspired by a DMX song but I don’t want to scare anyone off before they even start reading. The only thing inspired by DMX is the title of this post. I figured that since we are eight months into the years as I peck at the keyboard today it would be a good time to see how much progress has been made towards the goals I set for 2018. This isn’t the first time I have reviewed the goals since setting them, it’s just time I’ve provided an update on the blog. It’s important to remember that setting a goal is only step zero. You then have to take daily action to achieve your goals. This …