I seem to always inspire weird looks in my HR departments :). Apparently they see 62% contribution to 401K and think I forgot a decimal point. At my new company I’ve been asked I believe 3 times in a 2 month period if my election was correct. Yes it is :). When I started at my new company on November 15, 2016 I calculated what election percentage I needed to max my 401K by December 31 despite being funemployed for 4 months. And that was 62% so I made it happen and I maxed it (within a few hundred that the no decimal point awarded me). Continue reading “Maxing 401K in 4 Months”
Category: Finance
The Results of an Uber Frugal Month
This January I embarked on an Uber Frugal Month with Mrs. Frugalwoods. You basically cut out or down on all unnecessary spending. I’m very happy this coincided with my new low carb, high fat diet. It made me not even want to eat out which is unheard of. Continue reading “The Results of an Uber Frugal Month”
I Accidentally Became a Financial Advisor
A few financial bloggers that I read regularly have mentioned how in retirement you will most likely accidentally earn money. As an early retiree you’ll have 30+ years of health and energy ahead of you instead of 5 or less. I never quite believed it, but I did just accidentally stumbled onto a side hustle while I am still working, which makes me think they might be onto something. Continue reading “I Accidentally Became a Financial Advisor”
How I Navigated My Finances
I’ve always been fairly good with money, but I never realized the power of investing and compound interest until I was well into adulthood.
My Prototype
I was more of a “hide it under your mattress” hoarder of money –which I now know is a surefire way to deplete money’s buying power through inflation — but as a young kid I had no idea. At age 7, I tried my luck at money lending to my step-siblings. That didn’t go too well, since I didn’t have debt collectors at my disposal and they had a hard time taking their youngest sibling seriously. Growing up my parents paid us for chores done around the house. When we received the money (usually $1 per chore) we were shocked to discover that we only received $0.33 for every dollar. “Taxes and Social Security” my Mom said.
Continue reading “How I Navigated My Finances”
Funemployment Helped Me Find What’s Important
My 4 months of funemployment in 2016 was the longest I have been funemployed in my career. In previous years I had only been without a job for about a month at a time, which was exactly enough time to network, find another job and do little else. This longer stint originally frustrated me. One company claimed to want to hire me before I even left my previous job, but was then put on hold. Then I went traveling. Despite my schedule rarely having me in Seattle for more than 24 hours another company a few weeks later said they wanted to hire me, but it fell through. I kept traveling. Another company inexplicably worked around my busy travel schedule and let me do several interviews over the phone claimed they wanted to hire me. And this too fell through in the end. There were several less serious disappointments along the way. Continue reading “Funemployment Helped Me Find What’s Important”
Good Bank Review: Navy Federal Credit Union
I wasn’t aware that I was a part of Navy Federal until my mom told me. Since my grandfather was in the military our family is able to join their bank. After becoming annoyed at the annual fee that’s tacked on TD Bank credit cards I explored Navy Federal’s options and found a wonderful 1.5% Cash Back credit card that I’ve been using for a few years. Continue reading “Good Bank Review: Navy Federal Credit Union”
I’m Lucky: I’ve Always Been This Way
When I read about the paths of other financial independence seekers I’ve noticed something about myself. I’ve always been this way. When others were looking to fill their lives with things I’ve mostly always loved hoarding my money. When I was young – maybe 7 – I was even a bank to my step-siblings. I’d lend them money and collect repayments. One of them still owes me $50. With interest :). I doubt I’ll ever see it though. Such is the life of a bank of a 7 year old. Continue reading “I’m Lucky: I’ve Always Been This Way”
2016 Spending
Let’s look at the explosion that was my 2016 spending. Overall I spent $22,518.67 which isn’t bad (compared to the $30,000 spending of 2015) but it’s still not as low as I’d like. A few factors for this level of spending were: Continue reading “2016 Spending”