If you read enough personal finance articles, you will soon come across the concept of a “savings rate.” This makes perfect sense. Your savings rate may be the most important factor to building wealth and becoming financially independent. Articles pushing you to increase your savings rate make sense. But sometimes, I find the messaging too aggressive for my tastes. To those who shame their readers into saving more, I say: back off, I’ll mind my own savings rate.
The Winning Gathering is a roundup of posts from around the Internet that I feel compelled to share with you. Most cover topics similar to those I usually write about. Usually, they’ll have a different twist or level of depth than I’ve discussed before. I’ll also include any posts I’ve written that were published in a different corner of the web.
Editor: I’d like to introduce you to The Graying Saver. He’s chasing financial independence (FI) and early retirement as well. BUT he’s not willing to give up his beautiful looking North Carolina cabin (a second home) in order to do so. There’s still a mortgage on this property and he has to decide between using his extra savings to pay down the mortgage or invest.
I recently wrote about a variety of factors impacting whether one should pay off debt or invest. Everybody’s financial situation is different and this decision has numerous variables. I thought it would be helpful to share stories and reasoning from those who’ve made this decision. Below is a set of questions in which I interviewed the most willing participant I could find:
When I started this blog, I emailed the first post to a handful of friends and family. I asked if there were any personal finance topics they wanted me to cover. There was just one topic requested by more than one person and it impacts most of us. The question is: should you use extra money to pay off debt or invest?
One of my most loyal readers requested I write this post. And when she suggested it, the topic became a top priority. Thanks again to everyone out there for reading and sharing my posts. Having people I know in real life – along with those of you I don’t know personally – read my stuff feels amazing. I hope this list of three steps to improve your financial health helps you start the year off on the right foot!
I recently attended a funeral. But unlike most, this funeral wasn’t a somber event. In fact, it was more like a tribute since the deceased lived a long and fulfilled life, and it felt like a celebration of the person. As these things tend to do, it got me thinking about my own life. Two specific questions came to mind:
If I passed away today, what would be the highlights of my eulogy?
How would they differ from what I’d want them to be?