Building Wealth And Being Happy

A Practical Guide To Financial Independence

Month: January 2017

What Is Financial Independence?

What Is Financial Independence? If you’re here, you probably already know that financial independence (“FI”) is achieved when your passive income (e.g. income from stocks, bonds, or real estate) can pay for your spending. You no longer have to rely on an active source of income, like a job, to pay for your expenses. The more important question is, how soon can we get there? The number one thing that […]

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How Much Cash Should Be In Your Emergency Fund?

This is probably one of the questions that I get asked most often. To make sure we’re all on the same page, an emergency fund is: Money, usually kept in a savings account, for use in the event of an emergency. Emergencies could have a wide range of causes, such as finding out that a family of squirrels has stashed the corn that you were using to feed deer in […]

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The One Thing Everyone’s Missing About The Latte Factor

The latte factor

The Disagreement There’s been a little bit of drama in the personal finance blogosphere lately. Rachel Thompson recently wrote an article titled “I’m a millennial, and believe me, coffee is not the reason I’m broke.” Rachel raised some valid grievances such as rising education costs and difficult job markets, but she passed off those grievances as excuses for frivolous spending. One specific paragraph landed her in hot water among the […]

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The 3 Biggest Financial Challenges Faced By (Don’t Call Them Millennials!) Young People

Millennial. I’m not a fan of the word. And if you were born between the early 80’s and mid 90’s, the chances are that you’re not either. I’m not sure if it’s because most headlines that use the word millennial have negative connotations, or if because labelling generational cohorts seems like a super lazy way to make gross generalizations, but something about the word always makes my eyes gloss over.  […]

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