Financial Stage 3: Thriving

Are you in Stage 3: Thriving? You are in Financial Stage 3, Thriving, once you have no consumer debt and have saved your Financial Independence Fund. In this stage, you are focusing on building your net worth and being generous. You are still following your financial plan, including a budget. The biggest change is going …

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Self-Directed IRAs

The Self-Directed IRA is often overlooked as an investment vehicle. This is a way for you to own assets that are not stocks or bonds in your retirement account. Most often these are used for rental real estate. You can also use them for many other asset types. However, most people use them for rental …

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Rental Real Estate Series: Part 5 – Execution

You own rental real estate, let's discuss how to execute.  You may be a passive investor or an active manager.  Either way you will need to be continually assessing performance. Each month keep an eye on when rental payments are being made.  The income side of the equation is the most important for rental real …

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Rental Real Estate Series: Part 4 – Think Outside the Box to Find Deals

To find the best deals you may need to think outside the box!  Keep an open mind and be creative.  If you are looking for rental real estate that is purely passive you may want to consider other cities, states, or maybe even countries.  We own rental property we haven't even seen before.  You will …

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Rental Real Estate Series: Part 3 – Analyzing Rental Real Estate Returns

When analyzing rental real estate returns you should at least consider the tax implications and the cash flow.  Over time, I have changed my analysis approach here and there but I do like to keep it pretty simple still.  You can get bogged down in the analysis if you get too in-depth on it.  The …

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Rental Real Estate Series: Part 2 – To Thine Own Self be True

So you want to be a landlord?  To thine own self be true!  The first gut check should be if you have the personality to own rental rent estate.  Before even assessing the potential returns, purchase price, etc. you should first look at the person in the mirror.  Are you going to be an active …

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Rental Real Estate Series: Part 1 – The Largest Landlord Expenses

When the rental market is great it’s easy to look past what may be your two highest expenses when you own rental real estate.  You may not even have these expenses when the market is really good. However, over the long term these will creep up on you and when they hit it can be …

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What to do when the stock market tanks

Predictably unpredictable, nobody knows what the stock market is going to do everyday of every week all year long.  Nobody. The one thing we can count on is that the market will go up and the market will go down.  It’s a lot of fun to see “green on the screen” when you check your …

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You are Financially Independent… Now what?

Very few people talk about this phase of your financial life. There is plenty written on how to pay off debt, making sure you max out retirement accounts, covering kids college and saving up reserves. Therefore, let's talk about it! You have achieved Financial Independence, now what? This is the really fun stage of your …

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