Happy New Year! I have two posts to share today. I’m living one dream (read on) and focusing on the next ones (via my 2018 Goals).
Reading hundreds of blog posts surrounding the personal finance community, it’s easy to get a little jealous of others’ success. I mean, on a daily basis I read about people going from rags to riches, or having a $1M income, or people retiring at an obscenely young age. With Thanksgiving quickly approaching, I think it’s time to step back and focus on all the reasons I have to be thankful.
3-Year-Old Son: Daddy, can you play trains with me?
Me: I’m sorry, I can’t play right now, I need to go to work.
3-Year-Old Son: [Sad Face]
Me: One day, I’ll have enough money that I won’t have to work.
3-Year-Old Son: And then you can stay home and play with me all day? [Happy Face]
Unfortunately, by the time I have the money to stay home, I’m not sure my son will want me to play trains with him all day. I expect that he may have other interests by then. I was very impressed by how quick he grasped the concept of doing what you want with your time once you have enough to support yourself.
Once You are Financially Independent You Can:
- Continue working to increase your lifestyle
- Quit a job that makes you unhappy
- Start a business without the pressure of needing to succeed right away
- Spend more time with friends and family
- Spend time on a hobby you are passionate about
- Work to financially support or volunteer for your favorite cause
- You may even be able to do a number of these things, – or thousands of others – the possibilities are endless!
In the Coin Flip Risk Assessment, I presented a hypothetical coin flip as an introspective view of your feelings on risk. Well, one of my readers, (OK fine, it was my wife) put the screws to me and gave me a hypothetical Super Coin Flip Risk Assessment with the same premise as my initial question.
I recently attended a wedding and want to wish a heartfelt public congratulations to the lovely bride and groom! Since I didn’t get a chance to give a toast over the weekend, I would like to offer some unsolicited financial advice for all see. Without further ado, here it goes:
One of the most common and hardest personal finance decisions people have to make involves the tradeoff between time and money. This post discusses the largest time vs. money decision my wife and I have had to make to date.