The Simple Path to Wealth: Book Review


I’ve been following Jim Collins, who blogs at www.jlcollinsnh.com, for about two years now. His simple, direct, and low impact investing style has changed how I invest. Investing before was exciting and time-consuming- watching the news, reading stock charts and pouring over technical analysis. Now, investing is boring. But I’m finally seeing returns. Mr. Collins turned the advice in his…

Guest Post on The Military Guide: Blended Retirement System


Hello everyone, I'm proud to announce the publication of my guest post over at The Military Guide. Doug Nordman was kind enough to feature my thoughts on the new military Blended Retirement System. In my guest post I also provide a spreadsheet which you can use to calculate what you stand to gain - or lose - if you chose…

3 Ways to Plan Next Year’s Taxes: less pain, more gain!


A major goal of my family is tax efficiency. While this post won't be outlining any fishy tax schemes, it should help you save on your taxes. Paying less taxes has also helped us direct more money to paying down our loans while simultaneously investing. Taxes are a necessary evil. They pay our salary and provide services. However, the government…

Pay Down Debt or Invest for Retirement?


Should you pay down debt or save for retirement? Like many finance questions, I think the answer to this question is: it depends. In the following post, I designed an experiment to test my guess that it is better pay down high interest debt fast, but it might be better to invest if you only have low interest debt. (Spoiler-…

DIY: Gardening your way to frugality


One of the benefits to living in a temperate climate is the ability to garden. While many people grown the odd tomato or basil plant around here, I think gardening can be a fantastic way to thin the family grocery bill. As I have mentioned before, if you don’t track it, you don’t know what its worth/costing you. Over the…

Utilize the TSP’s low fees to supercharge your retirement


What if I said YOU could make 1% more in your retirement account, every year, for life? As far as things go, a 1% advantage is pretty good these days. The market isn’t returning twenty-odd percent like it did in the lead up to the '08 crash. I’m talking about the fee’s you pay to invest. Vanguard, which has some…

Why FIRE?


Financial Independence, Retire Early (FIRE) As part of our pre-marriage financial summit, my wife and I took a long look at our retirement goals. At the time I hadn’t discovered Mr. Money Mustache or any of the FIRE crowd. What we found was pretty dismal. I had graduated from a top university with no debt, had worked with a generous salary for…

Financial Independence with the TSP and IRAs


In a previous post we discussed how the actual annual TSP (Military 401K) contribution limit is $18,000. Most military folks, and indeed the general public, don’t know you can max out your contributions at work and continue to save for retirement by using IRA’s, with all the tax benefits that come with these methods. This got even more confusing when…

What’s my Maximum Retirement Contribution, anyway?


The TSP is the military's 401k. The below may apply to your retirement account too. Just about every current military member has sat in a training where someone has demonstrated the power of compounding interest. “Look”, they say, “if you start when you’re 18, by the time you retire you have $1 million. Wait till you are 25, only $600,000.…

Budgeting is an Excuse to Spend


I am a budgeting failure. Once, in a calorie counting phase, I found myself viewing the calorie budget as a challenge. If I had 100 calories left over at the end of the day, I would allow myself a donut, or a beer, up to my maximum, rather than banking my lower count for the win. This is exactly what…

Risks and Rewards of Balance Transfer Credit Cards


After I resolved the Loan Group fiasco, I undertook our most risky strategy yet. We used a Zero-percent balance transfer credit card. What is a 0% BTC? Many credit card companies issue promotional offers to entice customers to switch their business. Zero Percent Balance Transfers are a common enticement. By applying for the card and indicating what current credit card…

Student Loan Refinance – FIRE Edition


Our next foray into repaying our $107,000 of student loans was learning about student loan refinance and consolidation. I researched several options, including SoFi and Citizen's Bank, where Mrs MF held a checking account. I submitted our request to refinance to both companies. We included myself as a co-borrower because I had better credit due to the age of credit…

Debt Snowball: Not a Chance in Hell


Have you considered the Debt Snowball for your debt? Learn from my story and save yourself the trouble. As I noted in the introductory post, before we got married, my wife and I sat down and seriously discussed our finances. I knew she had student loan debt. When she said she had a lot of debt, I assumed the worst would be twice…

Our experience paying off $107,000 of Student Loan Debt


Student loan debt is an evil drain on our national economy and a "hair on fire" emergency for our wallets. When I married my wife, we sat down and discussed our finances. We agreed that we would combine our finances, the good and the bad. While she brought great credit to our union, I also married her undergrad and graduate student…
Add to Flipboard Magazine.

Enjoy this blog? Please spread the word!

RSS
Follow by Email
Facebook
Facebook
Google+
http://www.militaryfire.com/2017/01
PINTEREST
PINTEREST
LinkedIn
SOCIALICON
SOCIALICON