I wanted you to "Click This" because this will give you an overview of what to expect from this blog. Part 1 discusses how I got here. Part 2 focuses on what I value. Part 3 talks about where I am now and looking to the future. Part 4 is what I hope to accomplish with this blog.
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Part 1 – Why make this blog?
I was living what many consider a normal life. Just a single guy, working in a school district, making right around the national average for a household income. If you were wondering, yes, my normal life meant I had loan debt. A lot of loan debt. I graduated with a Master’s and about $80,000 in student and car loan debt. Growing up I was always a saver and comfortable being frugal so coming up with the perfect repayment plan was going to be easy! Step one, find a sketchy living situation to save money. Does moving into a shared basement unit of a duplex with a man 10 years older than me count? How about if I move states and don’t meet him or see the place in person first? I’ll say that qualifies. Step two, make a budget. Done and done. Sayonara loans! |
The smile of realizing I have to start paying off my loans.
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Things were going fine, I guess. I was paying off about 15k a year just by living frugally. That was 41% of my net income at the time. Not bad, right? But, every month the payments were painful, and at the end of the year it felt like I hadn’t made a dent. I needed something faster!
I started talking to my landlord about real estate investing. He let me borrow Rich Dad Poor Dad and Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth. These books were influential in getting me started. They changed how I looked at everything. I wanted to gather as many assets as I could and saw the potential in real estate. I was hooked.
I started talking to my landlord about real estate investing. He let me borrow Rich Dad Poor Dad and Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth. These books were influential in getting me started. They changed how I looked at everything. I wanted to gather as many assets as I could and saw the potential in real estate. I was hooked.
Podcasts were listened to and books were read. Real estate seemed like the easiest way to passive income, financial freedom, and I was genuinely interested in it. Within the next 10 months I began house hacking a quadruplex and a year after that I bought a rental property out of state.
Through a podcast I listen to, Bigger Pockets, I heard they came out with a money podcast. In the fall of 2018 I started listening and this lead me to the Financial Independence (FI) community. A lot of the principles that were being discussed were things I had already been doing. It was easy after all, save more, spend on what matters.
This lead me to the brilliant idea to chronicle my past and future decisions, for better or worse, in an effort to help guide people who are starting the journey to financial independence now, and leave a path for people in the future. Honestly, what could go wrong?!
Through a podcast I listen to, Bigger Pockets, I heard they came out with a money podcast. In the fall of 2018 I started listening and this lead me to the Financial Independence (FI) community. A lot of the principles that were being discussed were things I had already been doing. It was easy after all, save more, spend on what matters.
This lead me to the brilliant idea to chronicle my past and future decisions, for better or worse, in an effort to help guide people who are starting the journey to financial independence now, and leave a path for people in the future. Honestly, what could go wrong?!
Part 2 – What is important to you?
What makes you the happiest? What are the memories or times in your life you look back on most fondly? Seriously, think about it.
In the mean time, here are a few of mine:
What makes you the happiest? What are the memories or times in your life you look back on most fondly? Seriously, think about it.
In the mean time, here are a few of mine:
- Living with my 3 best friends.
- Backing packing through Europe for 8 weeks.
- High school or college intramural sports teams.
- Graduating with my Master’s.
- Exploring Australia and New Zealand for 2 weeks.
- How my dog Harper literally jumps for joy when I get home.
- Any of the funny memories or inside jokes with family and friends.
- Like the time I heard wrestling is fake and gave my brother a "low blow" to see if it was real.. it was.
- Like the time I heard wrestling is fake and gave my brother a "low blow" to see if it was real.. it was.
If I could go anywhere for one minute, I'd go back to the top of Harder Kulm in Interlaken, Switzerland
What is the common theme? They are all experiences or shared memories with others. None involve possessions.
I don’t believe true happiness comes from material objects or the pursuit of them. It is easy to get caught up thinking life is a competition and lose track of what is important. When I’m older will I wish I had worked more? Had more name brand clothes? Doubtful, but I’ll be sure to let you know if that’s the case!
I believe experiences bring far more lasting memories than possessions. This is a fundamental principle of this blog.
Part 3 – My goal
I want to create a life of financial independence through passive streams of income in order to live the life I choose.
Setting a specific goal is much harder because I can’t predict my future. Do I want to retire early? Do I just want to work part time? If I get married will we both be “retired”? Will I have kids? Will I want to try and live in various countries throughout my life? What I do know is I want the freedom to be able to choose and working 5 days a week suuccks.
But fine, if you are going to make me set a goal, I would like at least $10,000 a month in passive income. Oh, and do that in the next 7-10 years.
By the end of 2018 I was getting $8.39 a month in dividends from my personal Roth IRA. My rental properties were giving me about $693.54 a month. That is a whopping $701.93 per month! I am living in one of the units for free, but, I have a ways to go!
I want to create a life of financial independence through passive streams of income in order to live the life I choose.
Setting a specific goal is much harder because I can’t predict my future. Do I want to retire early? Do I just want to work part time? If I get married will we both be “retired”? Will I have kids? Will I want to try and live in various countries throughout my life? What I do know is I want the freedom to be able to choose and working 5 days a week suuccks.
But fine, if you are going to make me set a goal, I would like at least $10,000 a month in passive income. Oh, and do that in the next 7-10 years.
By the end of 2018 I was getting $8.39 a month in dividends from my personal Roth IRA. My rental properties were giving me about $693.54 a month. That is a whopping $701.93 per month! I am living in one of the units for free, but, I have a ways to go!
I want the freedom to head back to Hamilton Island, Australia if I choose.
Part 4 - What I want to do with this blog
I’m hopeful you will learn something that will make your journey easier in some way. However, I also want to learn from you. Please contact me with any thoughts, suggestions, and comments. I’d love to hear from you!
Jake (3/24/19)
- I’ll tell you how to save money. From cutting back on things that aren’t important to you to travel hacking, there are a lot of things that we can all do to be smarter with our money.
- I’ll tell you more about me. You’ll learn how I got to where I am now and also how I plan to get to financial independence.
- I’ll break down my financial situation. You’ll know if, and how, I’m making my goals.
- I’ll detail my investments. I’ll discuss how I am investing now and how that might change in the future.
- I’ll give you examples of what works. Detailing what works for me or has worked for others.
- I’ll recap my travels and give recommendations. I like to travel and want to document that.
- I’ll provide updates of new findings. I’m constantly listening to podcasts, reading about new ideas and/or scheming to achieve my goals and will share my new findings.
I’m hopeful you will learn something that will make your journey easier in some way. However, I also want to learn from you. Please contact me with any thoughts, suggestions, and comments. I’d love to hear from you!
Jake (3/24/19)