February Update: We’re Broke

Since the beginning of 2017, we have been living paycheck to paycheck. The other night, Mrs. MilitaryFIRE asked how much we were making after each paycheck. “Zero,” I said, “we’re essentially broke.” We started the year with our checking account below its normal level due to some 2016 year-end IRA contributions and we haven’t been able to bring it up…

Learnin’ and Planin’

One of the disadvantages to the military lifestyle is the inability to iet up a forever home until later in life. While the moving and travel may be a bonus for some, I’d be happy to set up shop in one place for the rest of my career. Our family is all located in New England, and we want to…

Our Passive Income Goal: $2,400/yr by 2020

It is February 2017 and our family has almost no passive income! What is passive income? It is an income source that requires little to no work to sustain itself. Some examples might be royalties from a book, rental income, or profit sharing from a business you part-own.  Looking around the FIRE community, many people rave about owning rental real…

DIY: Your Barber is Stealing Your Wallet

I love to make my own stuff- I’ve made my own boats, bed, cheese, maple syrup, wine, Mrs. MilitaryFire makes greeting and holiday cards and we grow a garden. I hunt and fish. While functional and edible items are a useful side benefit of these activities, I’m hard pressed to say any of them really save money, especially if I…

7 Lesson Learned by Debunking Retirement Plan Scammers, Gamers and Detractors

Retirement Plans, especially those sponsored by an employer (the 401K, 403b, and the TSP) are probably the most powerful and simple tool you have on your path to wealth. The TSP in particular automatically leverages the power of index investing for incredibly low fees. It has Roth and Traditional options, Targeted Retirement Funds, and starting in 2018 will come with…

How do we track our spending? January Expenses Revealed!

If you want to make it to Early Retirement or Financial Independence, you absolutely must know what your spending is. Tracking your expenses is the only way to gain a holistic view of your spending habits. I I have said before, tracking is not budgeting. We are "toughening up, cupcake", avoiding the excuse to spend and not using mental crutches to…
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