Our journey to Financial Independence
5 minute read Financial stress is crippling America. The federal government maintains enormous debt levels and so do its people. Many categorize debt as “good” or “bad” based on the type, rate and terms of the debt. However the debt is categorized, one thing is certain, you still have to make the payments. It’s the … Read more
Why To grow your career, you should always be willing to learn new skills. We live in the information age and things move fast. Leaders make decisions based on data. If things don’t go as planned, you can defend your decision with data. There is an increased need for professionals to gather and visualize information. … Read more
2 minute read I’m creating blog posts to help others. I want to get the information to as many people as possible. A big part of this is simply sharing consistently. If people appreciate your content they will come back for more. I was recommended Show Your Work! by Austin Kleon. My biggest takeaway is … Read more
3.5 minutes Legacy planning is largely ignored. Many think it necessary only for the wealthy – with significant assets to direct and protect. Legacy planning is for all. A FIChronicles tenet is to demystify personal finance. Legacy planning (life insurance, wills, trusts, power of attorney) desperately needs demystifying. See Buying Life Insurance and Creating a … Read more
5-minute read The purpose of this series on legacy planning is to demystify it. Common reasons why we put off legacy planning: Busyness – Work, family, kids, etc. and the years float by Kick the can – for many in their 20’s-40’s it’s easy to put off the planning, thinking there’s always time down the … Read more
(The events of this post occurred about 2 years ago) 4.5-minute read Life insurance – easy to ignore until it’s too late. I was a 36-year-old husband, father of 2 (ages 6 and 8) and primary breadwinner for my family. I had 6 times my annual salary in a group life insurance policy through my … Read more
5 minute read Diversify your investments and your life. The financial independence community does a fantastic job revealing the path to financial freedom. The allure of controlling of your time intoxicates, but extreme focus on financial independence can cause neglect in other areas of life. Your health and memories require investment to flourish too. Health- … Read more
2.5 minute read You may have heard the phrase, “death by a thousand cuts.” The Chinese term is Lingchi. A torture technique used in China and Vietnam; the torturer removed pieces of flesh slowly during execution while the offender was tied to a tree. The pictures are graphic and terrible. What does this have to … Read more
The happiest place on earth. For our family this was a dream trip that was 2 years in the making. And like any great trip, the journey is often just as memorable as the destination. Why As you’ve read in other posts our family was clawing out of debt – budgeting carefully, couponing, selling things, … Read more
Let’s examine three foundational expenses under your control. The decisions you make here have a profound impact on your financial outcome. Taxes: Likely this is your biggest annual expense. Many people don’t think too much about taxes except when they file them. Income Tax (based on 2019 tax rates): Federal income tax and state income … Read more