Net worth is one of the core metrics that people who pursue financial independence measure. This is because you can multiply your net worth by 4% to estimate how much money you can safely withdraw in retirement. If you need $100,000 in yearly retirement income, you can calculate that you need a net worth of $2.5 million to produce this. I’ve been tracking my net worth since I graduated college. Like most college students, I graduated with student loans and very few assets. Luckily, I had a job so I could start paying down debt and investing. I grew my nest egg from -$15,000 to $105,000 in 3 years!
I’ve seen a lot of people’s blogs have been hacked lately. Well, “a lot” is up to interpretation. Getting hacked sucks. You’ve spent months or even years building up your blog with excellent content, only to have it degraded or deleted. Whats worse, a nefarious hacker could post illicit content and your page might just get shut down, and you might have to deal with legal consequences. That is why I am writing this post. You will never get rid of the threat of a hack; however, you can secure your wordpress blog to minimize the odds that the majority of attacks simply won’t work again you.
Quitting your job isn’t always an easy task. You build friendships and relationships. Hopefully, you enjoy your work. You’ve become good at what you do, and taking on completely different work is stressful. However, if you stay at your current job forever, you risk throwing away hundreds of thousands of dollars in earnings, and millions in investments. If you really want to get ahead, you must leverage your skills to get a new job with compensation deserving of your expertise. But, there is definitely a right way, and definitely a wrong way to leave your current position and it can have a large impact on your future.
So you want to make $1 million? I’m pretty sure that everyone does. Culturally, it has become the gold standard of how we define “rich”. If you have $1 million, you can buy a very nice house and car. You can buy property and become a landlord. You can even invest it and live off about $40,000 per year, forever, without working another day in your life. Regardless of what you want to do with your $1 million, you need to figure out how to get it. There are a variety of different strategies to do this. I won’t be describing “get rich quick” schemes. Rather, they are investment strategies that the average person can actually accomplish.
This is a follow-up to My Dad Spends $8,000 Per Year At Work. The majority of my coworkers go out and purchase “fancy lunches” every day. Sometimes they’ll spend a few bucks, maybe $6 for a sandwich. Most of the time, they’ll spend closer to $10 or $15 for an entree and soda. Rarely, they get super fancy and will go to a sit down restaurant and spend $30. They do this 5 days a week, 52 weeks a year. These same coworkers will complain that they never have enough money. Their student loan payments are too high, the rent is expensive, and car payments are the worst. “It’s expensive to live. You work for years, and what do you have to show for it at the end?” Don’t make their mistakes