This week I did a guest post on one of the most popular military financial independence websites. This website was started by Doug Nordman. He retired from the Navy in 2002 and hasn’t worked since. He currently lives in Hawaii and surfs often when he’s not traveling the world. Not a bad life. What he … Read more
I love all things money. My kids often see me reading finance books and browsing real estate blogs. They hear me talking about money with my wife. They watch us negotiate deals to buy houses with cash, and they overhear our discussions on retiring early.
I explain what I’m doing with money in simple terms to my kids, but I can’t be sure it’s sinking in. They are 10 and 6. It is my job to prepare them to navigate money and life. I wonder how I’m doing.
How does one get a perfect credit score? I’m in the military. People around the office ask me for for financial advice. They know I’m a “money guy” and word gets around that I like talking investing and real estate.
I warn people they won’t like my advice. They usually don’t.
This guy didn’t.
Recently a co-worker told me he’s got $20,000 burning a hole in his pocket, and what I think about investing in the British Pound. With the Brexit, it seems like a sure thing!
I told him this kind of speculation in currency isn’t for everyone. Even those who devote their lives to studying this are wrong more often then right. I warned him this would be a fun way to lose money quickly on something he doesn’t understand. It seemed like he took that to heart.
Guy: “Ok, I got a better idea! What about gold!?!?!?”
Flipped several houses in Washington D.C. to help me build income for real estate investing.
Purchased twenty rental properties with cash.
My website is all about helping others to get out of debt and create passive income from real estate.
But you can not mess with real estate until your finances are straight. You gotta go get Jim’s book! (or at least read his website)
“Spend less than you earn–invest the surplus–avoid debt”
The central theme of Jim’s website and book.
It’s hard to believe the Path to Wealth can be this simple.
But in his book, you’ll see it is.
I got to admit. I love this book! My review is going to sound a little over the top, but it’s a damn good book!
I’ve been big into finance and real estate books my whole life. I’ve read them all.
Ok, way more than this!
About a year ago, I stumbled across financial independence and early retirement websites and it opened up an entire new world to me!
I began seeking out all the top blogs in this field, and one that kept coming up was jlcollins.com.
To put it bluntly, his Stock Series was the most comprehensive explanation of investments I have ever read. There is so much noise and confusion out there in the finance world, and he slices right through it and tells you what’s really important.
He makes it easy to understand the complex world of money. His approach to investment is so simple, it’s alarming!
I followed his blog closely and eagerly awaited new posts.
When he sent out an email explaining he was writing a book and soliciting help from his readers for proofreading, I jumped at the chance!!
The only reason I volunteered was because I wanted to read the book ASAP!!!
As luck would have it, I was selected to be a proofreader, and had the opportunity to read the book before publication. (Actually, I’ve read it about 20 times. Occupational hazard!)
The book is exactly what I was hoping it would be.
I’ll show you exactly how I paid off debt and built wealth.
Among acquaintances, friends, and co-workers, my thoughts on money seem extreme. I don’t have many among those groups to share and discuss with.
I’ve been devouring books about money my whole life. I was soooo happy when I found the world of FI, real estate, and investing blogs. I feel like there is a community of people out there that understands me. They understand how important it is to payoff debt immediately.
When I was in college, I got a job at Fidelity Investments as a stockbroker. It was a 3rd job, a side hustle to payoff my student loans. It was a great introduction to the world of finance. It made sense for someone like me to get a job like this. I’ve always had an interest in the stock market.
Flipped several houses in Washington D.C. to help build income for real estate investing.
Purchased twenty rental properties that are paid off.
Currently manage 30 units myself.
Let me tell you a story.
How do you summarize your financial life in a blog post?
What if it’s your first post ever?
I’ll give it a shot!
I met my wife in college and quickly realized she was the right person for me. Before she married me, she asked me a question that I didn’t know the answer to. It was a question that I didn’t want to know the answer to. (We are recently divorced, but still have a great relationship)
“How much money do you owe in student loans?”
(Very blank look from me)
Thinking back over the last 3 1/2 years of college, I remembered getting some grants and a partial scholarship from the military for majoring in Chinese, how bad could it be? I remember taking out a few student loans to help make ends meet (a.k.a. always eating out and vacations with rich friends).