I’m a Dad in my late 30s with 4 kids, married 12 amazing years to my wonderful wife, and thriving near Portland, Oregon. This blog is my therapy. I’m not trying to retire early. Oh no. Our goals are more lofty and less selfish (or more selfish). We’re trying nothing less than to build a family dynasty. Something that will continue long after we’re buried. This blog is about the financial foundation.
I’m not some debt recovered former unlearned money fool. I learned young. I had common sense. Don’t buy stuff you can’t afford. The most debt I ever had (not including mortgage) was a car loan for $2,500 which I paid off in my early 20’s 1 year later. My wife is the same way, only smarter. She never had debt and saved her whole life (and still does). We’ve worked for everything we’ve ever gained: School, house, cars, etc. Nothing was given to us. But we did have one great advantage: We both came from great loving middle class families.
I’m not a full time blogger. I have a great day job. I’m into technology and software development (as you can see on the Apps page). I’m not here to tell you what to do with your money, I’m here to tell you that you would be stupid to do certain things with your money. Here are some examples of stupid things I see people I know doing with their money. Unfortunately, some of these people are close to me:
- Buy a car with money from your 401k. Really?
- Leverage your primary residence for investments. This pains me. Sad stories with this one. Looks so easy listening to the Rich Dad stories. Was all the rage in 2001-2006. Didn’t pan out for a lot of people. Everyone wants to get rich quick I guess…
- Getting into debt for a lame college degree that won’t give you any payback. Hopefully I’m proven wrong in this, but most of the times and more recently, I haven’t been. Not saying all college is bad. But college is usually not the best option.
- Trusting your spouse to make all the financial decisions for you and not working together as a team. Building a dynasty is a family event. Be involved.
- Thinking you are not smart enough to understand finances. This is crazy. Its real simple: Don’t spend all your money and especially, don’t spend more than you have. This is the kind of math they teach you before you get into 3rd grade. Before you even learned negative numbers. Maybe you should have stopped learning math before they taught you negative numbers if you don’t think you understand finance.
- Develop alternative passive income streams
- Be debt free. Guess what: our definition of debt free may be different than yours. We actually include our primary residence in our list. You can’t tell me you’re debt free if you have a mortgage or you rent. Because then you owe people something. The only thing we want to owe is the federal government taxes for the great country we live in. We plan to pay our mortgage off by 2015, if not sooner.
- Teach our kids to work hard and use common sense with their resources: Money & Time. We spend lots of time with our kids because they are important to the dynasty. Teaching our kids finance and smart work is one of our greatest challenges. We don’t want them to grow up feeling entitled. That will not help grow the dynasty.
Well that’s probably more than you want to know. But thanks for visiting.