Early Retirement sounds like a dream, doesn’t it? Mr. Mad Money Monster and I subscribe to the school of thought that the little stuff pays off big, and the big stuff pays off BIGGER.
Dying broke isn’t a bad thing, unless you were broke long before you died. I’m not saying that money will make you happy, what I’m saying is money helps you live a less stressful life, especially during the latter years. This question goes out to all of the people in the personal finance community – readers, writers, and those just getting their financial feet wet – do you plan on leaving legacy wealth? Or, do you prefer to die broke? Let’s explore each option.
Long, long ago, in a house just like this one – oh wait – it was this one. Let me start over. Back when I first had the idea of starting a personal finance blog, I decided to do a quick and dirty analysis of the state of our finances. I quickly added up our assets and subtracted our liabilities. Right! Wrong. Really wrong. Although I added our mortgage debt on our primary residence and our rental property, I failed to factor in the value of those properties in the assets column. This resulted in a negative net worth. Yikes! After doing quite a bit of digging and a (IMO) proper analysis – we are in the BLACK, baby! Phew.
Inquiring Minds Want To Know
Our goals are plastered all over this site and we’ve been writing about them forever. Now, Mad Money Monster wants to hear all about your personal financial goals and how you plan on getting there. You just might be featured on our site or be asked to write a guest post.
The best part about being on the road to early retirement is feeling a greater sense of financial freedom with each step. Each retirement contribution, each investment deposit, and each debt repayment is a tiny notch of freedom. Each step in the right financial direction allows us the opportunity to have more freedom with the money we earn. We had the opportunity to help a loved one last week because we have been actively making smart financial decisions. We were able to give a small gift that could’ve saved a life. A loved ones life.