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2million's Personal Finance Blog
My Journey To Financial Freedom |
While on our transatlantic cruise our dinner table companions were 2 couples in their late twenties/early thirties that had quit their jobs and were trekking around the world. We had some great discussions about life and I gained a lot...
Continue reading "Time Is Money" »
I recently celebrated my 10yr anniversary at my employer and I realized we are roughly halfway through our journey to financial freedom (10 years into a 20 year plan). With our $2 million net worth goal as a guidepost and...
Continue reading "Mid-Way Point in Our Journey to Financial Freedom" »
I recently laid out our rough plan for how we plan to generate income once we become financially free. This plan suggests we'd be able to generate between $40k-$76k+ per year which should cover our annual expenses. Next I want...
Continue reading "Financial Freedom Plan and our Net Worth Goal" »
One thing I have been pretty vague so far is how we are going to fund our financial freedom. Just because we have a goal to reach a net worth of $2million doesn't automatically mean we will be anywhere close...
Continue reading "Pieces of our Financial Freedom Plan Falling Into Place" »
We hit a personal milestone this week as the 1998 Nissan Sentra I purchased (with my parents help) in graduate school hit 200,000 miles. I've owned the car for 12 years and overall it has been a very reliable form...
Continue reading "Just Hit 200,000 Miles on My Car" »
For the past 2 years I have felt a bit like we are plateauing in our pursuit of financial freedom. Our journey has been on autopilot: busy with life, family, work and with what seems like less time dedicated to...
Continue reading "Are We Plateauing in Our Financial Freedom Journey?" »
Sometimes a picture is worth a thousand words: You can learn more about our net worth goal and our net worth benchmark that we use to make sure we are on track....
Continue reading "Financial Freedom" »
My wife and I recently hit another financial milestone by passing the $750,000 net worth mark. While we still have a ways to go to get to our goal of $2 million, I am getting more confident that the hardest...
Continue reading "How We Became 3/4 Millionaires" »
I was really struck today by a passage in an audiobook I'm currently listening to from the library titled Three Feet from Gold by Sharon Lechter. "You might wake up one day and discover your have accumulated a million dollars...
Continue reading "Success is a Journey, Not a Destination" »
I recently posted on focusing our efforts on debt reduction. The uncertainty of my job plus our constrained cash flow has me focused on paying down debt to improve our monthly free cash. The reality is that interest rates are...
Continue reading "Should Debt Reduction Be Our Focus?" »
This blog was started back in 2005 to track my journey to financial freedom. I set out with a very specific goal and a measuring stick to track my/our progress. Given the the major recession we look to be recovering...
Continue reading "Where Are We In Our Journey To Financial Freedom?" »
Ok a lot has changed since I last talked about my multiple income streams so its time for an update. Diversifying our income is a key planning tool for the unexpected. If we were solely relying on my income and...
Continue reading "Current Income Streams Snapshot" »
What a terrible time to be downshifting, but somethings just happen when they happen. Fresh off our international assignment, we have come back to the US, bought a family friendly house, have a baby on the way, and are now...
Continue reading "Downshifting from DINKS to Average Single Family Income Status" »
I have started to report on a monthly basis the status of our 2008 financial goals. I have noticed confusion on my part about how much progress we are making on our goals (especially on our house savings goal) so...
Continue reading "July Status of 2008 Financial Goals" »
I am thinking of reporting on a monthly basis the status of our 2008 financial goals. I have noticed confusion on my part about how much progress we are making on our goals (especially on our house savings goal) so...
Continue reading "June Status of 2008 Financial Goals" »
This month my wife and I crossed the Half-Millionaire mark on our journey to financial freedom. Half-Millionaire has a nice ring to it. To celebrate my wife and I are staying in tonight, heating up some soup for dinner, and...
Continue reading "Crossing the Half-Millionaire Mark" »
In the last 6 years, I have taken my (now our) net worth from $18k to nearly $500k. I am pretty satisfied with the results - we are making good progress on our financial freedom goals. I think there a...
Continue reading "Want To Replicate Our Net Worth Results?" »
Maybe Im over simplifying, but over the past month my wife and I have started to recognize that the primary thing that stands in our way to financial freedom is housing costs. If we step back, the single biggest expense...
Continue reading "Housing Costs are our Biggest Obstacle to Financial Freedom" »
My wife and I had a quick conversation to establish our 2008 Financial Goals. 1) Primary House Down payment Goal ($80,000) We have $36,500 currently earmarked for the house downpayment so we still have a challenge ahead of us to...
Continue reading "2008 Financial Goals" »
I have been pushing myself pretty hard recently, trying to make sure I stay ahead of the life changes coming my way to reach my financial goals. I know there will be reduction in our ability to save a large...
Continue reading "Monthly Net Worth Growth Rates" »
Depsite all the chaos that’s going on in my life currently with the upcoming wedding, china assignment, saving for a home, etc., I have been spending a lot of time recently dwelling on the need for a 5 year plan....
Continue reading "5 Year Plan to Financial Freedom" »
My family already knows this; I have an itch to buy some waterfront property. Part of it may be fear of no longer being able to afford this type of property later in life. Another part is the ability to...
Continue reading "I'm Ready To Buy My Retirement Home?" »
In the spirit of the upcoming long weekend I thought I would share a local grass roots campaign, the Five Day Weekend to reverse the work week so that Americans clock in for two good days of work, followed...
Continue reading "Support the Five Day Weekend!" »
If you didn't know, I have been a type 1 diabetic since the age of 10. I use a Minimed Paradigm insulin pump which basically pumps small amounts of insulin into your system throughout the day helping you keep...
Continue reading "Minilink Continuous Glucose Sensor Investment" »
If its not obvious, my time is being over consumed with my new job at work, fixing up my house, wedding planning, relationship nurturing, China assignment preparations, and everything else that normally goes on. I am not able to give...
Continue reading "Time vs Money" »
To me it seems obvious, to others its a total mystery. What will you do when you become financially free? I believe my goal of a $2 million net worth will allow me to continue to live a moderate...
Continue reading "What Will I Do When I Get $2 Million?" »
Every year it seems like it’s harder and harder to forecast the major changes coming in my life and set challenging financial goals. In 2006, I was faced with the uncertainty of taking a temporary assignment and not knowing how...
Continue reading "Financial Net Worth Goal for 2007" »
Wow - I can't believe its really 2007. Time flies. I love this time at the beginning of the year as I now have a whole year's worth of financial data to process, assess, and contemplate what I can accomplish...
Continue reading "Major Life Changes Coming in 2007" »
Back in December 2005, I set a 2006 net worth goal of $262,000. I was a bit conservative on setting my net worth goal as I knew I would be making big purchases such as a new home, engagement ring,...
Continue reading "Smashing Through My 2006 Net Worth Goal" »
As soon as we got engaged I wanted to dive right into our finances. I immediate saw it as an opportunity to cut costs and get both our balance sheets moving in the same direction towards financial freedom. My...
Continue reading "Merging Finances" »
Tags:
goal setting
money management
relationships
A recent comment really got me thinking. The comment was straight to the point - what am I doing to reach my goals? On the surface I am doing what everyone else is doing - working, saving money, and investing....
Continue reading "Whats My Action Plan to Financial Freedom?" »
Tags:
goal setting
net worth
Its about time for me to start setting a 2006 net worth goal. It looks like I will end this year with a net worth of $206,000-$208,000, above my target of $205,000 for 2005.So how do a pick a target...
Continue reading "Setting a 2006 Net Worth Goal" »
I could try to give a long insightful breakdown of why I think $2 million is the amount I need to be financially free, but I won't. I'll give you a quick breakdown instead.If I assume a conservative rate of...
Continue reading "Why 2 million?" »
A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $ 825,494
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