Extreme Frugality Turned $80K Debt Into $1M
CRAZY SHIT I DID: to go from $80k in debt to $1M+ - Lived in cheapest rental home my wife could stand - Spent 1000s of hours studying money & investing - Sold my Range Rover & got a 2012 Toyota Prius - Paid off all my debt like it was an emergency - Took leftovers home from free office meals - Stopped buying books & got a library card - Negotiated down car insurance & internet - Tracked every single dollar relentlessly - No restaurants or takeout for 3 YEARS
Monthly Financial Check-Ups Keep Savings on Track
Doing a quick assessment one or two times a month can help you stay on top of your finances and address any weaknesses in your savings and spending strategies. https://t.co/9cnFCvqWhZ
Use a Sinking Fund to Buy Big Items Cash
A sinking fund is a way to set money aside over time, so you can buy something with cash. For example, this could be a spot in your budget where you save $400 per month for 10 months to buy...
Invest $20 Daily, Retire Millionaire Tax‑Free
$20 Millionaire 1. Open a Roth IRA 2. Contribute $20 per day 3. Choose low cost ETF's like $VTI In 30 years, you'll only pay $210k. But with (average) compound interest... You'll have $1,154,748 TAX FREE 🤯
Set Strict Guardrails to Protect Your Investments
I’ve lost a lot of money over the course of my life. Here are some guardrails so that you can avoid that: - never invest in an asset that isn’t backed by cashflow - consult 3-5 people you trust before making an...
Robinhood Launches Tax‑advantaged Accounts for 2025‑2028 Kids
Robinhood $HOOD just posted this: “Meet Trump Accounts — a new type of tax-advantaged investment account designed to help eligible American children build long-term financial security and investment growth from an early age. How it works: ✔ ️Eligible children born in years...
Prioritize 401k Match, Pay Debt, Then Max Roth
This is the exact order I’d invest my money. The goal here is to optimize your dollars for highest ROI - starting with a 401k match, paying off debt, the Roth IRA, and ending with either maxing out your Roth...
Max Tax-Advantaged Accounts First, Then Low-Cost Index Funds
"I have $200k to deploy into the stock market. How do I do it?" I personally would: 1. increase 401k contribution to max allowed (~75%) 2. max out Roth IRA 3. max out HSA (if eligible) 4. put the rest into a brokerage account (I...
Use Cost Segregation to Erase Your Tax Bill
🤑 Eliminate Your Taxes ✈️ Using a cost segregation study is the best way to fully wipe out your W2 or 1099 income tax. Instead of letting the IRS take your money, you purchase an asset that will grow in...
Switching Insurers Saved $1,000 on Homeowners Insurance
Our homeowners insurance went up $600. So, I called an insurance broker friend, and the new policy with a different insurer is going to be $1,000 lower than the existing plan. Gotta love insurance stuff.
Pay Your Credit Card Early, Transform Your Finances
They taught us algebra in school but never taught us that paying your credit card three days earlier could change your entire financial life. I wrote the article I wish existed when I was broke. link in comment ⤵️
Create an “Eat First” Zone, Halve Food Waste
Americans throw away billions of dollars in food every year and most of it’s because we forget what’s in the back of the fridge. I put an ‘eat first’ zone in mine for anything about to expire and it’s cut...
Financial Freedom Requires Proactive Steps, Not Luck
Everyone deserves to be FINANCIALLY FREE. But like anything worth having — a fit physique, radiant health, a strong loving relationship with your spouse… It takes a lot of proactive effort (in the beginning). IOW: financial freedom does NOT just happen to...
Combine IRA and HSA for Tax‑Efficient Retirement Savings
For any retiree that is saving for both medical expenses in retirement and also all of their other retirement goals, using a combination of an IRA (for most retirement expenses) supplemented by an HSA as a "retirement health savings account"...
Electric Cars Save Thousands and Cut Pollution
What can you do if you are tired of wasting money on gasoline? Did you know that every 30 miles of driving a gasoline car, you spend three to five dollars more than driving the same 30 miles in an electric...