Links for August 2020

I don't normally watch a ton of YouTube videos, because there are too many time-wasters out there. But this video made a ton of great points about money, capitalism, and time.

    https://www.youtube.com/watch?v=6mRbDEtDoyA

*I'd note that the person who made this video missed one crucial element: risk tolerance. Sure, everything he says makes sense. But it doesn't make sense for just anyone to start a business. And he missed that crucial element.

Remember when everybody was panic-buying toilet paper and paper towels? This analysis provides some insight into why:

    https://www.cnbc.com/2020/03/11/heres-why-people-are-panic-buying-and-stockpiling-toilet-paper.html

ASUS Vivobook 15 - $499

    https://amzn.to/2BEYP68

*A little light on the storage space, but it's pretty powerful for the price, and there are a number of options for extra storage.

 

Laws like this are exceedingly scary for homeowners:

    https://reason.com/2020/07/24/county-wants-answers-from-treasurer-who-seized-mans-home-over-8-tax-bill/

How rich are Americans, by age group? 

    https://froogalstoodent.blogspot.com/2020/08/how-rich-are-americans-by-age-group.html

Hey Americans, interested in what happens to your tax money? You might be surprised where the military ranks in this list...

    https://blog.cheapism.com/where-your-tax-money-really-goes/

A snapshot into the financial picture of "John," someone who retired in 2018 and is looking for income:

    https://seekingalpha.com/article/4340665-retirees-dividend-portfolio-johns-march-update-new-way-to-look-portfolio

Tips to help you retire, regardless of what the economy is doing at the moment:

    https://www.moneytalksnews.com/retire-even-when-the-economy-heads-south/

How much can you withdraw safely after you retire?

    https://jlcollinsnh.com/2012/12/07/stocks-part-xiii-withdrawal-rates-how-much-can-i-spend-anyway/

Steve Adcock and his wife retired early, in their thirties. He offers some advice to help the rest of us retire, as well:

    https://www.cnbc.com/2020/05/31/early-retirement-millionaire-saved-70-percent-of-income-lives-by-basic-money-rules.html

Along similar lines as the above:

    https://www.cnbc.com/2020/03/04/stop-wasting-money-on-these-7-useless-things-and-save-for-early-retirement.html 

For some perspective on the REAL point of having money:

    https://www.cnbc.com/2020/05/07/warren-buffett-son-doesnt-regret-spending-berkshire-stock-he-got-at-19-worth-200-million-now.html?&doc=106539730

This post makes an important point about the power of emotions:

    https://www.bakadesuyo.com/2014/06/how-to-motivate-yourself/

Scared to invest? Don't be. Here's why:

    https://www.listenmoneymatters.com/investing-for-beginners/

The best Vanguard funds:

    https://www.listenmoneymatters.com/best-vanguard-funds/

Be on guard against financial abuse:

    https://partnersinfire.com/finance/financial-abuse/

Entrepreneurship isn't necessarily all it's cracked up to be:

    https://steveadcock.us/entrepreneurship-lies

Possibly the single most succinct summary of the FIRE movement:

    https://jlcollinsnh.com/2012/05/12/stocks-part-vi-portfolio-ideas-to-build-and-keep-your-wealth/

How much money do Americans think it takes to be financially comfortable? And how has COVID-19 changed that?

    https://www.cnbc.com/2020/07/27/how-much-money-americans-say-is-enough-to-be-financially-comfortable.html

How should you invest? Ty of CampF.I.R.E. Finance describes one solid approach—index and chill:

    https://www.campfirefinance.com/index-and-chill/

Blog roundup May 2020

Blog roundup/interesting links May 2020

A great summary of the FIRE movement:
https://www.thousandaire.com/its-all-about-creating-income/

I've linked this before, but it's worth including again:
https://www.wealthwelldone.com/how-can-i-change-my-life/
     -And while we're using allegorical stories:
     https://froogalstoodent.blogspot.com/2017/01/a-tale-of-two-kingdoms.html

https://pixabay.com/en/stirling-castle-scotland-stirling-202103/

A sound planning session with Inspire to FIRE:
https://www.inspiretofire.com/recession-investment-plan/

The benefits of FI:
https://www.physicianonfire.com/the-benefits-of-financial-independence

Though I don't usually condone day trading, a little information about good, debt-free companies won't hurt. To that end, this is one part of a series on debt-free companies. I like the analysis, though it's not actually influencing my own investing decisions:
https://seekingalpha.com/article/4339254-debt-free-companies-of-s-and-p-500-jack-henry-associates

Some good guidance on how to handle a dip in the stock market if you're planning to retire soon; good advice to hear if you're worried about how the COVID-19 economic slowdown will affect your ability to retire:
https://www.moneytalksnews.com/retire-even-when-the-economy-heads-south/

Jim Collins is ALWAYS worth reading and considering. This one is particularly notable for a great line by Jon Older, in his 8:54 PM comment: "Like a famous person once said, money is like a bar of soap. The more you handle it, the smaller it gets." Great stuff!

https://jlcollinsnh.com/2020/04/14/part-xvii-b-etf-vs-mutual-fund-whats-the-difference/

How does Japan deal with its extreme population density, especially in Tokyo? Micro-apartments!

https://www.nippon.com/en/news/fnn20200211001/tokyo’s-micro-apartments-see-a-surge-in-popularity-the-secret-of-living-in-a-shoe-box.html

Another dose of sanity, this time from Mr. Money Mustache:

https://www.mrmoneymustache.com/2020/04/02/no-you-didnt-just-lose-half-of-your-retirement-savings/

-The money quote: "But in this situation, it really helps to understand the big picture of what is actually going on. The world is not ending. The air outside your windows is not a swirling cloud of certain death. All that has changed is that we are in a self-imposed economic slowdown that has been created purely to save the lives of our most vulnerable people. Which is one of the most compassionate things our society has ever done." [emphasis in original]

Interested in earning cash for taking surveys and providing companies with feedback on their products and services? One option is https://www.inboxdollars.com/, which is currently offering a $5 signup bonus!

Interesting links

Interested in football? In XFL 2020? In the entertainment industry? This is a quick but interesting read:
https://finance.yahoo.com/news/xfl-may-pull-off-something-no-league-has-before-but-week-3-is-critical-175105240.html

• On a related note, how much do XFL players get paid? https://www.sportingnews.com/au/nfl/news/how-much-do-xfl-players-get-paid-breaking-down-salary-structure-for-new-league/ez2tp2f528h11s65exqzrhm5g

Interested in cars? In Australia? After 150 years, Holden is going away. This is probably surprising news, unless you live in Australia or work in the automotive industry:
https://www.autoweek.com/news/industry-news/a31023811/saving-holden-would-have-required-billions-report-says/

The human body apparently isn't 98.6 degrees anymore:
https://elemental.medium.com/the-average-human-body-temperature-is-no-longer-98-6-f-c88c19716852

A way to calculate retirement age in each state. Keep in mind that each person's situation is different, but this is a good way for us FIRE enthusiasts to stay focused on the end goal:
https://finance.yahoo.com/news/most-realistic-retirement-age-every-100000297.html

Tips on how to save for the down payment on a home, directed especially at first-time homebuyers:
https://www.thepennyhoarder.com/home-buying/how-to-save-for-a-down-payment/

Ideas for passive income, the holy grail for investors:
https://moneydoneright.com/best-passive-income-ideas/

Do you have to work until full retirement? Not if you don't want to:
https://www.forbes.com/sites/ryanderousseau/2020/03/27/32-year-old-stopped-focusing-early-retirement-embrace-mini-ones/#5a7d0fe3420b

Which should I prioritize: my emergency fund, or my retirement? https://www.thebalance.com/average-retirement-savings-by-age-4155888

Links for March 2017

Links for March 2017

F-you money: good for employees, bad for employers: http://jalopnik.com/google-paid-fuck-you-money-at-self-driving-car-projec-1792306694  You'd be wise to get some f-you money yourself.

Is a penny saved a penny earned? No: https://www.financialfixation.com/single-post/2017/01/11/A-Penny-Saved-is-Not-a-Penny-Earned

How to raise your kids to become financially independent: http://www.inc.com/marla-tabaka/want-your-kids-to-become-financially-secure-adults-parents-of-todays-wealthy-did.html

Links for your financial health, January 2017

Links for your financial health

Confused about the difference between Roth IRAs and regular IRAs or 401(k)s? Mr. Tako explains clearly and succinctly at http://www.mrtakoescapes.com/give-yourself-the-gift-of-wealth/:

"IRA / 401(s) — Don’t pay taxes now, pay later!

Roth IRA — Pay taxes now, but don’t pay taxes later!"

The above link at mrtakoescapes.com provides a great resource on wealth-building--a recommended read! Some other interesting and important thoughts for your financial health:

• Want a free guide on how to invest? Paul Merriman provides actually free downloads of some of his work--you don't even have to give him your e-mail or anything!  http://paulmerriman.com/how-to-invest-series-complimentary-download/
   
• This is also great advice! Don't follow the hype, even if it is coming from "trusted" sources. Just stay the course, and let your money do the work for you! http://collegeinvestr.com/5-things-every-new-investor-should-know/ Similarly, this is how "buy low, sell high" works:  http://tenbucksaweek.com/im-terrible-investor
   
• Do experiences really make you happier than tangible possessions? https://www.keepthrifty.com/2016/07/14/experience-or-stuff.html Chris at KeepThrifty provides a balanced view on the topic, and I think his reflections are quite valuable to consider! Also see TJ Pridonoff's piece on the same topic.
   
• Does working in a well-respected position in a corporation mean you're successful? http://www.livingafreelifetoday.com/blog/side-corporate-job/ Not if you're not happy, as Living Free notes!
   
• An outstanding allegory for the #1 skill you'll need to succeed:  http://www.wealthwelldone.com/change-your-life/  A well-done piece; be sure to read this one!
   
• A fair point: http://www.someecards.com/confession-cards/money-solves-all-problems-funny-ecard Don't just wish for it: make it happen!
   
• Might the disenfranchisement of most Americans be an impetus for the growing FIRE movement? http://www.huffingtonpost.com/robert-reich/why-so-many-americans-fee_b_7150874.html
       -Oh, and on the topic of disenfranchisement, this well-done long-form piece provides a well-argued economic explanation of how free trade led to the rise of Donald Trump's presidential candidacy: http://qz.com/840973/everything-we-thought-we-knew-about-free-trade-is-wrong/
   
• At risk of sounding like a broken record, the lack of financial literacy education is a HUMONGOUS problem in society today: http://collegeinvestr.com/what-high-school-didnt-teach-you/
• You know how all those personal finance bloggers tell you to plug your ears and ignore the news reports? This research illustrates EXACTLY why we preach "set and forget" index fund investing: http://www.marketwatch.com/story/how-retirement-investors-hurt-themselves-2014-05-07
      -Vanguard lays out a compelling case for investing in index funds:
        https://personal.vanguard.com/pdf/s296.pdf
   
• I want to nitpick this piece: http://collegeinvestr.com/beginner-finance-where-to-begin/  Smart parents (and kids) won't wait until age 18 to get their first checking OR savings accounts!
   
• The cost of divorce can be higher than the cost of life during marriage! An excellent, excellent post by iVigilante for Physician on Fire: http://www.physicianonfire.com/top-5-ways-derail-financial-independence-early-retirement/
       -Also see http://www.realworlddivorce.com/Introduction, brought to my attention by commenter "John" at this page. A thoroughly alarming eye-opener, for sure!
   
• This. So much this -> http://www.millennial-revolution.com/freedom/how-i-built-a-seven-figure-portfolio-and-retired-at-31/ No, seriously. this is exactly on point! People over ~age 50 are giving us advice based on what worked for them. But times have changed, and the old models don't necessarily work anymore--a topic that I've been thinking/writing about for a while (with intent to eventually turn into an e-book). The TL;DR: Listen to your parents at your own risk...
   
• Crazy? Or crazy like a fox? http://penniesanddollars.com/smart-people-save-money/ [I happen to think I'm crazy like a fox... :)]
   
• Good advice from a financial professional and author! A bit on the dry side, but packed full of highly useful information: https://www.youtube.com/watch?v=Bin_9svYcjI
• Just made this meme today [1/23/17], and here's an excuse to use it :)
   
• A little meme fun about college financial aid: https://s-media-cache-ak0.pinimg.com/564x/66/7e/a4/667ea42fdc15cdcc1dcde750f8a35f8e.jpg
   
• It is important to have control over your money, but even more important to have control over YOURSELF: http://www.budgetsaresexy.com/2016/12/financial-confessions-i-became-so-obsessed-with-being-rich-that-im-now-sitting-in-prison/ Money is important, but it isn't everything!
   
• When is 'enough' enough? http://www.makingyourmoneymatter.com/2017-year-theme-enough/
   
• Planning to catch on FIRE? [FIRE stands for "financial independence, retire early"] Here's a good guide to help you begin the journey: http://www.poweroverlife.com/retirement-basics-permanent-vacation/ Also see http://www.poweroverlife.com/investing-ultimate-collection/ Long articles, but plenty of useful stuff!
   
• Are your friends' social media accounts turning into personalized commercials? Seeing your friends' luxuries can tempt you to spend more; don't take the bait! http://thefinancialdiet.com/how-unfollowing-my-friends-on-social-media-helped-my-finances/
   
• Point #6 (embrace inconvenience) is right on the money! The whole piece is worth a read: http://www.mysterymoneyman.com/30-kick-ways-improve-your-finances-2017/
   
• "Fees of 1% on my investments aren't that bad, right?" WRONG. https://www.nerdwallet.com/blog/investing/millennial-retirement-fees-one-percent-half-million-savings-impact/