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How Small Amounts of Money Grow Very Large

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From The Wealthy Accountant …

Periodically I get a message from a reader congratulating me on my financial success in life. The topic also comes up in consulting sessions more than I care to mention. The inquiry is always respectful and congratulatory. These people think I did something extraordinary when in fact it was actually a straight forward and simple process.

Part of my financial success is a direct result of living into my 50s. Time does a lot for net worth. Another huge advantage is I spent my entire adult life (except for those 14 months I played janitor at the church after I got married) self-employed. Business allowed me to control my income and taxes thereon more so than if I have a W-2 job at the local mill.

Eight figures is a worthy accomplishment, no doubt. What I did to get there isn’t as hard as you think. Let’s get to the math proving I’m a country accountant who fell into it and came out smelling roses.

How Small Amounts of Money Grow Very Large | The Wealthy Accountant

 

Invoking the F.U. Clause

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https://firethe9to5.com/2018/06/23/invoking-the-f-u-clause/From FIRE The 9 to 5 …

It’s been a bad week. Every quarter the VP of the business holds an off-site management meeting and the sixteen or so leaders from various parts of Europe meet for a few days. I attend in my capacity as Finance Business Partner and as an introvert, the whole thing is my idea of hell.

From the beginning (go around the table and introduce ourselves for the benefit of any new team members) to the individual presentations (on which I am called on to probe the numbers and provide the finance insight), to the evening social events (an organised activity followed by a restaurant) – I am performing.

Don’t get me wrong, this is part of my job and so I don my professional persona and perform as expected. But the lead up to the event is always stressful as I think about the few days to come and I leave exhausted and fit for nothing.

Invoking the F.U. Clause – FIREthe9to5

Curated by Women's Money Talk

 

EXIT PLANS

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Curated by Women's Money Talk

 

From FI Heroes …

“So now that we are about 18 months away from the end game where we stop working for money, sell everything we own and become traveling hobos, we are starting to look at our exit plan with a lot more seriousness. We are that much closer to determining the exact moment where the equation tells us it’s OK to officially call it quits and escape the cube farm. But should we just quit?

If we take the MIN-MAX approach, which focuses on minimizing the time worked for the maximum money, straight up quitting doesn’t make the most sense. Quitting simply means we will likely work the longest period of time in order to achieve our target number. Let’s analyze some possible scenarios …”

[Read more…] about EXIT PLANS

GOLDILOCKS & THE THREE MONEY TIERS

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From Miss Mazuma …

“The idea of enough is one that haunts many of us FI seekers. What if we quit our jobs too soon? What if the market falls? What if we get sick? What if we forget to prepare for one of the other millions of little things that can go wrong??? It is all too much to ponder.

For this, we need a strategy. My strategy comes straight from a childhood favorite…Goldilocks and The Three Bears Tiers”

Keep reading … GOLDILOCKS & THE THREE MONEY TIERS

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DOES EXTREME FRUGALITY REALLY MATTER?

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From Go Curry Cracker …

“Our story was recently shared with 8 million viewers on ABC World News Tonight. 

Overall this was really well done, capturing how we ruthlessly slashed all expenses to save 70%+ of our income. “They made their own soap, grew their own produce, and Jeremy even gave up his costly razor.”

Unfortunately, I think the hosts and many viewers reached the same conclusion: that we lived lean then, so we have to live lean now. (The opposite, really.)”

Keep reading … DOES EXTREME FRUGALITY REALLY MATTER?

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