I took a little creative liberty with the title. The "COVID-19 'Vacation'" refers to the two weeks my kids were on their normal "vacation" from school, but we were physically distancing at home. For them, this was their regularly-planned vacation. When the school was scheduled to start back up again, they had a distance learning curriculum. There's nothing about COVID-19 that should be considered a vacation. Additionally, we have a … [Read More...]
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Calculating Kids In Your Net Worth
A lot of personal finance "gurus" talk about whether kids are expensive. Almost anyway you slice it up, they are. The rare cases I've seen when they aren't expensive is when a family is already financially independent, so a member isn't working anyway. Personal experts agree that for almost everyone, if there isn't a large direct cost, there's a large indirect cost. For example, adults have to make sacrifices at work to be there when … [Read More...]
Income Streams: The Forgotten FIRE Ingredient
Are you looking for a safe retirement? In these uncertain times, the best plan is to have multiple income streams. For the first time in 11+ years the stock market has fallen fast. (It's recovered over the last few days, but I feel it is temporary.) The last time the market had this kind of drop it was 2008. While there was a concept of FIRE in the personal finance community, the acronym of Financially Independent/Retire Early simply wasn't … [Read More...]