My final submit was a free ebook giveaway. To enter to win, I requested readers to incorporate concepts on what sort of future article concepts you’d be excited by studying (the lazy survey) or the rest in your thoughts.
There have been 109 entrants to win the ebook and 77 messages about future content material concepts.
A lot of you wrote to say that you simply benefit from the weblog and to thank me. I’m grateful for all your encouraging messages.
As I went by your responses, I categorized them to see what themes bubbled to the highest.
I’ll use the lazy survey outcomes to plan weblog posts sooner or later. Thanks for responding.
Within the meantime, I assumed it could be enjoyable to share what I found and reply some widespread questions that in all probability don’t must be complete weblog posts.
When you didn’t chime in final time, please contact me or depart your content material concepts and subject preferences within the feedback part on the backside.
Present Scenario, FIRE, Transition to Retirement
A lot of you requested about me — the place am I on the street to retirement, particulars of my portfolio, household, work, and many others.
It’s been some time since I up to date my Portfolio web page, so I’ll goal to do this by June thirtieth.
Financially, progress towards early retirement is nice. I hit my monetary independence (FI) quantity in early 2021, giving me some flexibility.
However I’ve no plans to cease constructing wealth.
I’m nonetheless working a full-time job in the identical profession I’ve “endured” for 20 years.
I’m going into the workplace one or two occasions every week, and I’ve loved returning to company paradise.
My firm and colleagues are nice. The retirement plan is the very best I’ve ever seen.
I really feel rejuvenated returning to the workplace after being caught at residence for 2 years.
Cafeteria meals is free to encourage folks to come back again. Everyone seems to be vaccinated.
I’m grateful for the top-tier worker advantages, particularly as we’ve navigated my son’s Sort 1 Diabetes analysis.
However my final two work tasks have been difficult and never so pleasing. I’ll spare the small print, however I seek the advice of for a fancy group with a lot of cash to spend, however technical and cultural sandbags restrict important progress.
I query my profession typically, particularly since we’ve hit our FI quantity and my facet enterprise (writing, blogs) is worthwhile and will use extra consideration.
I’ve hinted right here a number of occasions that I’m contemplating leaving my profession to deal with full-time running a blog.
I take pleasure in writing and working web sites and consider I may help extra folks make smarter monetary selections — and make an sincere residing doing it.
However I can preserve a full-time profession and facet enterprise so long as I’m motivated.
Nevertheless, the need to focus all of my “skilled” power on monetary writing is powerful.
Ideally, I’d work about 20-30 hours every week on my enterprise, and spend extra time on household, well being, home tasks, journey, and neighborhood engagement.
I’d “retire” from my profession and journey my enterprise into full retirement, presumably previous age 55.
Our youngsters are 10, 8, and 6.
Leaving my profession (and the superb healthcare plan) is a giant step. See Well being Insurance coverage and Early Retirement under for extra.
Plus, school prices loom.
There could also be alternatives for part-time work, transition to retirement, or a sabbatical, however I haven’t explored these choices critically but, and I’m undecided a hybrid strategy is the suitable transfer.
When the time is true, I hope to discover a appropriate break in my venture work and exit on good phrases. Don’t anticipate a giant countdown or main announcement on RBD. You’ll know whenever you begin seeing extra frequent weblog posts.
F.I.B.E.R. empowers me to contemplate choices past my conventional profession.
Earnings investing has been the first focus of RBD because the starting. RBD began as a dividend development investing and journey weblog.
However to achieve a broader viewers, I scaled again what I write about particular person shares as a result of most individuals don’t personal them and are higher off in low-cost index funds.
We additionally reduce on touring after we had children.
I began diversifying my revenue portfolio past dividend shares into peer-to-peer lending, actual property crowdfunding, and facet hustles. Primarily due to alternatives I discovered by networking for this weblog.
Construct revenue streams. Discover the weird grew to become my mantra. That tagline helped to speak the broader matters to anticipate on my weblog — private finance, investing, and entrepreneurship with a nod to my roots in journey.
I’ve all the time tried to put in writing with an uncommon perspective, protecting you guessing every article.
So these matters will all the time be part of the weblog.
The following weblog submit I intend to publish is a brand new tackle incomes revenue outdoors of your wage. Keep tuned.
Parenting and Cash
Conversations with my children about cash don’t generate a lot curiosity but.
They’re children, so they give thought to cartoons, music, sports activities, mates, and their subsequent snack.
One of the best ways I’ve discovered to get my children to grasp cash is to take them to 7-11 with their very own money.
If you wish to see a younger mind at work, watch them spend $5 at 7-11.
Sweet vs. salty snacks, ice cream, ten varieties of bitter gummies — how do you select! It offers them some incentive to accumulate extra money.
My son loves pets, and my spouse and I don’t need a canine (possibly a cat, we’ll see).
So he’s exploring the thought of a pet sitting enterprise this summer season.
We wrote a marketing strategy collectively, figuring out all of the neighborhood companies he may do (acquire mail, stroll canine, feed cats/fish, and many others.). Then labored on pricing and an promoting plan.
Via his love of pets, I’m hoping to get him enthusiastic about income, bills, and revenue.
I’ve a spreadsheet that I name the financial institution of Dad, the place I maintain some cash and pay curiosity on cash they’ve obtained from grandparents.
My 10-year-old son set a aim to go to Australia someday, so we consider his stash as his Australia fund.
My 8-year-old daughter loves pandas. She desires to go to China someday.
Household journeys to those two locations can be epic commencement items.
As for investing, I haven’t began any custodial accounts apart from their Virginia 529s. I really feel a bit behind on creating non-education funding accounts for them.
After they begin incomes cash, I’ll open Roth IRAs and contribute no matter they earn.
Or I would open three custodial accounts, contribute $100 a month into VTI, and allow them to journey. Nevertheless, investments within the little one’s title can impression future monetary support. So there’s quite a bit to consider.
I haven’t researched this extensively but, so possibly that’s a future weblog submit.
Well being Insurance coverage and Early Retirement
A lot of you requested about medical health insurance in early retirement.
It is a difficult subject, and I don’t prefer it.
But it surely’s a crucial subject.
I haven’t dug deep into early retirement healthcare as a result of my plan upon leaving my profession is to make the most of COBRA for 18 months and use that point to determine it out.
Healthcare varies state-to-state, so researching and writing about it could not apply to most of my readers. I’m additionally hesitant to commit a lot brainpower to the subject for a weblog submit earlier than I want it in my life.
I not too long ago regarded into my state’s Healthcare.gov plans and located my present well being insurer’s plan. Nevertheless, I dug a little bit deeper to be taught that two of the important thing docs we depend on usually are not in-network (complicated and annoying).
Healthcare is the primary purpose I’m nonetheless in a full-time profession. To depart full-time work and depend on my writing enterprise, I’ll have to generate various revenue to cowl medical health insurance alone.
Now that we have now wonderful insurance coverage and a life-long continual sickness in our household, it received’t be simple to just accept insurance coverage that’s something much less.
This subject will come up someday on the weblog. I simply hope I don’t pull my hair out writing it.
My buddy Fritz wrote extensively on the subject as he went by it in early retirement. So try these articles to see his detailed thought course of.
Put up-Retirement Cash, Effectively-Being
I’m not retired but, so I don’t put a lot thought into post-retirement well-being.
I’ll doubtless soar proper into full-time running a blog once I depart my profession, protecting me busy and cognizant.
Nevertheless, mentally planning for retirement appears important once I’ve talked to retired folks.
Retirees who don’t have a plan for after retirement typically return to the workforce or change into bored.
I’ve all the time deliberate to journey extensively in retirement (see Journey part under), so retirement boredom has by no means been a priority — although I take into consideration situations the place I won’t have the ability to journey in retirement, requiring a Plan B.
There’s additionally the subject of post-retirement cash.
I don’t have an in depth drawdown technique but as a result of it’s not on my radar since I plan to maintain incomes for now.
However the primary thought is to dwell off of my wage, facet enterprise revenue, money financial savings, and dividends main as much as full retirement.
I intend to depart my retirement accounts untouched for so long as attainable. I’ll doubtless draw down the normal IRAs first and depart the Roth IRAs for final.
Actual Property Investing
A lot of you instructed I write extra about actual property investing.
I owned a rental property from 2011 to 2019.
In the meanwhile, I don’t anticipate I’ll purchase one other rental property — although I’d wish to, maybe as a retirement exercise.
Despite the fact that our space is dear to personal, I’d doubtless purchase a property close by. I’m additionally excited by trip properties and part-time leases.
Nevertheless, I’m apprehensive about complicating my life as I’m approaching the interval I need to journey extra.
Journey is healthier with fewer obligations at residence.
There are a number of methods to automate and outsource actual property investing actions, however proudly owning extra properties complicates issues.
So I’m much more excited by actual property crowdfunding which gives a number of choices for proudly owning high-quality actual property with out the effort.
Fundrise stays my favourite crowdfunding platform. I’ve been investing there for 5 years, and my returns are above 10%.
The following article I publish could have a bit extra element on the success of that funding.
However for all issues actual property investing, I’ll refer you to my buddy Chad who has a weblog and YouTube channel with wonderful content material.
For a time, journey was my calling in life.
In 2001 and 2002, I traveled for 14 months, visiting 18 international locations, spending solely $10,000.
Once I returned, I set my retirement aim of age 55 as a result of I wished to spend my retirement years visiting locations I didn’t make it to in my 20s.
A part of me wished to proceed touring then, however I had a stronger need to quiet down and begin a household.
Twenty years later, I’m approaching retirement and this era the place I anticipate to journey extra extensively.
I nonetheless like to journey and have dozens of bucket listing locations focused.
However even when I retire early, my children will nonetheless be in grade college, so I can’t simply take off for six months to observe my ardour.
Now, I need to journey WITH my children earlier than retirement journey after they have time without work.
It’s a part of why I’ve this facet enterprise, so I can transition from a full-time profession right into a extra versatile way of life to accommodate extra journey dates.
We’re now working by a household vacation spot bucket listing. We went to Common Orlando this previous spring break and have a pair extra journeys to Orlando deliberate.
As soon as we’ve visited the Florida household scorching spots, we need to increase to Caribbean and Mexico resorts. Then a number of street journeys (nationwide parks, Canada), and finally, we’d wish to take our children to Europe, China, and Australia earlier than they head to school.
We’ll use journey rewards for some flights and motels. However these journeys will likely be pricey, which is a part of why I’m nonetheless targeted on energetic incomes and constructing wealth.
Since I already write about retirement and journey (to a lesser extent as of late), I like the thought of beginning a retirement travel-focused weblog someday and personal a fantastic URL for it.
Nevertheless, I’m not touring sufficient to do this now.
Fairly a number of readers indicated they’d be excited by listening to extra about taxes and my private tax discount technique.
1) I’m not a CPA or tax lawyer. So whereas I may give you some element on how I’m coping with taxes, there are extra certified of us on the market. I need free tax recommendation too. Sadly, the very best tax recommendation comes from a CPA that understands your scenario. Right here’s my finest recommendation, max out tax-advantaged accounts earlier than investing in taxable accounts.
2) My career has important tax-related components to it. So I sidestep many tax matters to keep away from any potential conflicts of curiosity. Unlikely, however attainable.
Make Extra Cash
I put the making extra money subject into two buckets:
- Passive revenue
- Energetic revenue
Passive revenue is the long-term aim.
Energetic revenue is the place we will transfer the needle within the close to time period.
Incomes revenue from writing is rather more fulfilling than working for an organization. The work I put into it will increase the monetary output.
That stated, I don’t need this weblog to change into a weblog about running a blog. A number of well-known private finance blogs have gone in that course. It’s not my intent right here.
There are additionally different niches in private finance about utilizing apps or surveys to make more money quick. That’s not my factor, so I in all probability received’t write about these merchandise right here.
So I typically check with my writing enterprise, and I would even recommend that you simply begin a weblog as nicely (it’s a really low-cost endeavor) — or a YouTube channel, podcast, or no matter suits your ardour and the wants of others. You’ll want a web site for all of these should you intend to monetize your online business.
Something I write right here will likely be about passive revenue or energetic entrepreneurship.
Different Investments (Together with Crypto)
I do intend to put in writing extra investing platform opinions and comparability posts about options as a result of I consider options deserve allocations in fashionable portfolios.
Nevertheless, I favor different investments that produce revenue and have intrinsic worth.
That’s why you haven’t learn a lot about Bitcoin, DeFi, Ethereum, and NFTs right here.
I don’t see worth in them past being price what another person can pay.
You might be welcome to dabble within the crypto area, and I could finally, if the correct of asset comes alongside.
The expertise and international financial system surrounding the expertise are thrilling. I’m excited by seeing the place this huge new business and the keenness round it takes us.
However I’m not going to purchase a crypto asset in hopes that the following man can pay greater than I did.
Bonds are boring and traditionally underperform shares over the long run. So in my youth and main as much as my mid-40s, I’ve by no means been that .
I personal about 10% bonds in my retirement accounts by index funds. I additionally personal municipal bond ETFs for tax-free revenue in my taxable accounts.
As charges rise and I age into my 50s, I anticipate I’ll write extra about bonds.
On the finish of 2021 and this January, I purchased my first I-Bonds from TreasuryDirect.gov. $20,000 price whole.
These bonds have gotten plenty of press not too long ago as a result of they’re now yielding 9.62% for the following six months — an almost risk-free yield from the U.S. Authorities.
There’s a weblog that focuses on I-Bonds known as TIPS Watch, the place I’m discovering precious data.
That 9.62% charge is nice for the following six months after you purchase them. Curiosity is tax-deferred. There’s loads of time to reap the benefits of them. However there are limitations ($10,000 max funding) and liquidity restrictions.
I’ll write about these in additional depth in my subsequent weblog submit (focusing on Could nineteenth).
Different Matters Individuals Introduced Up
These have been the most typical responses, however I obtained a number of different subject strategies.
Right here’s a listing with a number of feedback:
- Monetary Advisors — I favor DIY monetary administration. When you do get an advisor, go along with a fee-only fiduciary. Vanguard is the very best deal I’ve seen. It solely costs 0.30%.
- Franchising — I don’t have experience right here, and I favor on-line companies which have a lot decrease startup prices.
- Automobile Shopping for — Pay money should you can. Purchase used or entry-level fashions with out leather-based and pointless extras.
- Fund charges — Search for the “expense ratio”. Index funds have expense ratios beneath 0.10%. Keep away from funds with charges larger than 0.75%.
- Sustainability — I like this subject quite a bit. It’s an space I need to discover extra, presumably with one other weblog sometime (specializing in the folks and corporations tackling large issues).
- “Take away the worker mindset” — Because of Shawn for this phrase; I could flip it right into a weblog submit.
- Minimalism — I really like this subject however battle to persuade my household it’s price it. I’m all the time decluttering, however combating a family that doesn’t GAF. Makes it irritating.
- Mindset — Worker, retiree, creation mindset. Issues to consider.
- Choices Investing — I used to dabble in choices and made cash with lined calls and LEAPs. However they take an excessive amount of brainpower and a spotlight for a part-timer.
- Money Financial savings — Excessive yield financial savings charges ought to rise this yr. I exploit Marcus and prefer it.
- That means of Life — Want I knew. Strive this ebook.
Sloth photograph by way of DepositPhotos used beneath license.
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