Should You Pay Yourself a Paycheck If You REFIRED?

Taxes grow without rain.
–Jewish proverb

My wife and I REFIRED at the end of 2019, with the intent of living solely off of the profits of our real estate investments.

Since I am on some boards, I receive income from those boards, and, because of that earned income, we’re still able to contribute to our IRAs.

However, at some point, either the companies will be sold, or they’ll grow to the point where it makes sense to bring in someone with that specific experience, and I’ll step aside.

As such, we … Read the article

USAA’s Investment Products Are Quickly Moving to USAA in Name Only

Always sleep with one eye open. Never take anything for granted. Your best friends might just be your enemies.
–Sara Shepard

When I was a junior at West Point, we all were offered a loan. It was for $12,000, if I remember the amount correctly, and there were 3 banks that offered the loans. There was a random assignment to each bank, and the rates were slightly different. I wound up with PNC Bank at about 1.75%. It was commonly called the car loan, since many people bought cars, as you could … Read the article

Why You Won’t be Prepared for the Next Crisis Unless You Act Now

There are two ways to be fooled. One is to believe what isn’t true; the other is to refuse to believe what is true.
–Soren Kierkegaard

There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that ‘my ignorance is just as good as your knowledge.
–Issac Asimov

On August 23, 2011, I was in Washington, D.C. for some business development … Read the article

Climbing Cantril’s Ladder

That’s the funny thing about life…We spend so much time worrying about how the future is going to play out and not nearly enough time admiring the precious perfection of the present.

For most of my life, my thinking about the future could be summed up with a general thought framework:

Things are going to be so much better when [MAGICAL EVENT HAPPENS]

Things are going to be so much better when I graduate high school (I was a NERD) and go to West Point.

Things are going to be so Read the article

Don’t be Reckless If You Want to LEANFIRE

When you’re young, you’re very reckless. Then you get conservative. Then you get reckless again.
–Clint Eastwood

A few months ago, Marketwatch posted an article outlining the stories of people who had “FIREd” and were not successful.

For those of you who do not know, FIRE is financial independence, retire early.

While most of them were, to me, as a CFP(R), head scratchers, one of them really stood out.

The person profiled was 27 years old, and had a total of $190,000 saved up and decided to “retire.”

Having $190,000 saved … Read the article