If you've followed FIRE bloggers long enough (about 10 minutes will do), you'll probably hear them talk about their savings rate. Many are saving 50% or more of their income. In 13 years of being a FIRE blogger, I've never calculated my savings rate. For many people calculating a savings rate is may be easy. With our finances, calculating a savings rate presented a number of problems. Before I get to those problems, let's approach how an … [Read More...]
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Designing a FIRE Community – (Part 1 – Introduction)
I want to preface today's article by asking for a quick favor. Could give this blog a vote/nomination for a Plutus Award? The annual awards are decided by a nonprofit, the Plutus Foundation, that supports community-based programs that enhance financial literacy. In short, it's the personal finance awards show. My blogging career is a lot like Jaime Moyer's Baseball Career. He played a long time, but usually just a little above average. … [Read More...]
Five Causes of Overspending
We're still in the summer hole where the kids are out of school, but camp hasn't started. My wife is still working and finishing up the finals on her last class in her pharmaceutical regulation MBA*. She's spending dozens of hours running a raffle fundraiser for the state's pharmacists**. For the last couple of days, it has just been me and the boys. The good news is that we've been able to spend some real quality time together. We've gone … [Read More...]