Will my kid be a bum if I retire early?

11.12.2014
early retirement bad example

A few weeks ago, I was talking to Don, a successful young business owner and he really dislikes the idea of early retirement. He wants to provide a good example for his kids and he thinks early retirement is not the right way to do it. This was just a passing conversation, but he clearly thinks that I’m a bum and he’s afraid my kid will turn out to be one too. To him early retirement is the anti-thesis of hard work. Is this really true? I’m sure he’s working long hours to provide a good life for his family, […]

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When Being Frugal Backfires

11.10.2014
When Being Frugal Backfires

The following article is from Melanie, our staff writer. Melanie is in the beginning phase of her journey to Financial Freedom and she’ll offer a refreshing point of view for us. We’ve all heard the reasons why you should be frugal. Cut out unnecessary spending, live more mindfully, and spend money on things that really matter. I like to think that I subscribe to the tenets of frugality pretty well, but there are also times when I’ve taken it too far. Sometimes I can just turn into a different person and lose all sense of rationality and morality. Now, I don’t […]

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You Can Save More In Your 401(k) Next Year

11.07.2014
You Can Save More In Your 401(k) Next Year

For 2015, the 401(k) maximum contribution limit is increasing to $18,000, up from $17,500. If you are 50 or older, you can add up to $6,000 extra per year. That’s an increase from $5,500 in 2014. This is great news for those of us who max out our 401(k) every year. We can save more next year and look forward to a little more tax deduction. Or a little more tax free growth if you go with the Roth 401(k). Of course, setting aside $18,000 per year is quite difficult for all of us. That’s why less than 10% of […]

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Conflicting Money Values = Bad Marriage

11.05.2014
Conflicting Money Values = Bad Marriage

In my opinion, the biggest factor in building wealth and a happy life is a good partner. Luckily, Mrs. RB40 and I have compatible financial values. Both of us enjoy saving and prioritize financial security over immediate gratification. By working as a team, we have been able to invest a substantial portion of our income and to become more prosperous over time. Incompatible Money Value Sadly, my parents don’t really have a compatible financial view. My mom doesn’t like to spend money at all and she still saves as much as she can. She rarely buys new clothes, eats out, […]

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