Picture this: you’re a physician balancing a demanding career, family obligations, and constant financial decisions. Even with a high income, the goal of financial independence can feel frustratingly out of reach. In fact, this might not even be something you need to imagine—it could already be your reality. It’s a common story among physicians: despite the hard work and good pay, finding true financial freedom can seem like a distant dream. For many, financial independence […]

Welcome back to another monthly update from Root of Good! We are at home in Raleigh for a brief stay before we head back out for another two week cruise for most of the rest of November.  This is the busiest stretch of travel we’ve ever had. The last time we were at home for the entire month was nine months ago in February. It’s almost like our home in Raleigh is our vacation home […]

We have some amazing mentors in the Millionaire Money Mentors forums. Some of them are even accomplished authors! Today we have a guest post from one of those authors, Monica Scudieri, author of Grab Your Slice of Financial Independence. Monica has an awesome story of achieving financial independence despite some pretty tough obstacles, many of which she shares in this post. I hope this will be an encouragement to those of you with money challenges that […]

🎙️ Episode #368 – We’re diving into the case study of a couple from Oakland who transformed $80,000 into $1.4 million in equity in just… The post 10-Year Financial Freedom Plan With Rentals in High Price Markets appeared first on Coach Carson.

Hey everyone! Did you have a good month? October flew by for us. RB40Jr was busy with Ultimate Frisbee and Wushu almost every day. I started a ceramic class and a ukulele class. It was a lot of fun, but I was driving all over town. It was a relief when the Fall season was completed. RB40Jr’s team placed 3rd in the B division. That was great! They plan to move up to the A division in spring. All in all, life was busy in a good way. On the personal finance side, October was okay. We didn’t spend too much, but our passive income was lower than I’d like. Our monthly cash flow was negative, just under -$100. Our net worth decreased a little bit as well. We’re still way ahead this year. Alright, I’ll share how I’m doing with my New Year goals. Then, I’ll go over our net worth and cash flow. Let’s go! 2024 Goals Here is my 2024 goal spreadsheet. It works well. Try it out if you can’t keep up with your New Year goals. The key is to review the spreadsheet monthly to track your progress. That way, you can see which goals need extra attention and work on them. We have less than 2 months left in 2024! Financial Goals FI ratio > 100% The FI ratio is passive income divided by spending. If you can generate enough passive income to cover your expenses, then you’re set. For 2024, I reduced this goal to 100%. We are getting older and I feel we can spend a bit more. After 10 months, our FI ratio is 113%. Not bad!   *FI Ratio = passive income / expense 3% Rule Everyone is familiar with the 4% retirement withdrawal rule, right? Basically, you should have a successful retirement if you withdraw less than 4% of your investable assets annually. Let’s see if we can spend less than 3% in 2024. This is a good way to test your retirement readiness. We’ll add everything up at the end of the year. Track net worth and hope for +10% I’ve been tracking our net worth since 2006. It’s great to see the progress. This year, I’d like to see 10% gains. At this point, the gain is completely dependent on the stock market and there isn’t much I can do to influence this goal. I’ll track it and keep my fingers crossed. Our net worth gained 16.4% since the beginning of the year. That’s huge. 2024 is a great year for investors.    Health Goals Exercise 3x per week Now that I’m 50, health is job 1. I need to exercise consistently so I can stay healthy longer. I joined a gym and plan to exercise at least 3 times per week. I got a bit behind in October. I took a week off because I was a little sick. Getting fit after 50 is tough! Health checks Equally important is going to see the doctors.

  Transcript Email Download New Tab Christine Benz 0:02 Just make sure that you have things in every day that give you a chance to pursue some Jordan brummett calls them small p purposes, like things you know, daily things, daily hobbies, bird watching, running, whatever it is, ideally, you would have some things like that that you can practice every day, even as you are aspiring to some bigger ticket goals. T minus 10 […]

One of the best things you can do for your financial future is to start preparing for retirement as early as you can. Unfortunately, not very many Americans are getting ready for retirement. Indeed, according to a report from the Federal Reserve, 31 percent of Americans have no retirement savings at all. Not only that, but less than half of Americans have even assessed their retirement needs. Are you one of those with no retirement […]

On April 12, 2015, I published my first post. In the nine years since I’ve kept writing… and writing…and writing. I’ve published 428 articles about retirement (see my Archives page).  If you do the math * … …I’ve written the equivalent of 11 books over the past 9 years. * (* The Math: 1,500 words per post x 428 posts = 642,000 words.  The average 200-page book is 60,000 words, so that’s ~ 10 books.  Add […]