Here are some observations from Your Survival Guy’s Fourth of July weekend, when my family and I took our boat—the Tom Sawyer—to Mattapoisett to visit my parents, and on the way home got stuck in the fog (more on that shortly). Family trips are a little different now than they were a few years ago when the four of us (plus our dog Louis) would travel by boat. This year our daughter had “things” she needed to do, and met us by car. This worked out well since Louis is not a huge fan of the boat. He loves it when it’s at the dock or on a mooring. But when it’s underway, he’s less sure of … [Read more...]

“Never forget what I’m telling you here” -Dick Young When it comes to living off a portfolio for a lifetime, the word lifetime can mean different stretches of time for different investors. As you read in parts I, II, III and IV, I’ve been studying the FIRE movement—Financial Independence, Retire Early—to help teach the next generation how to think about money, and to help you think about your retirement. Like I have said, if this group is retiring in their 30s, and living off their retirement savings for the rest of their lives, then we should be able to pick up some intelligence. Which … [Read more...]

In parts, I, II, and III you learned about those who have embraced the FIRE lifestyle—Financial Independence, Retire Early—and the ways it can help you in your own life. One of the things I think you and I will learn from this movement is if it’s truly feasible to live off a portfolio for 60-plus years—a necessity when retiring in one’s early 30s. But this is not your typical set-it-and-forget-it retirement demographic. Self-reliance is a way of life for the FIRE movement. Yes, they are casting off the lines and heading out to the sea of financial independence with a portfolio that … [Read more...]

As you read in my FIRE series parts I and II, the acronym stands for Financial Independence, Retire Early and is as much a mindset as it is a financial plan. Think about what you spend the most money on and you’ll quickly realize some of it can be reduced but a lot of it cannot when you’re in retirement. Chances are you’re out of debt. You’ve saved until it hurt and now you should be living the retirement you deserve. You’ve won the war. But there’s one thing I need to talk to you about. I talk to a lot of investors during any given week which provides me with a front row seat to … [Read more...]

Living a lifestyle where you spend 50% less than your “normal” spending doesn’t sound like much fun. But that’s exactly what many members of the FIRE movement are doing. FIRE standing for Financial Independence, Retire Early. I’ve been studying this movement big-time, because there’s a lot for you and me to learn by understanding what others are doing. This is not some hypothetical model of how you’ll live your life off your investments. This is real. It’s a lifestyle. When I brought up living a FIRE-centered life to my daughter she said, “Dad please stop with the FIRE, you’re stressing me … [Read more...]

Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. (You can read about that here). The FIRE I’m talking about stands for—Financial Independence, Retire Early—and it’s a big-time movement especially with Millennials. Because more and more of them, are disillusioned with a life working for “the man” and not “working” enough, i.e.: saving, for … [Read more...]

In terms of cyber security, the cyber-attack on Iran by the United States last week opens the door for reciprocity. Will it be what the Pentagon refers to as a cyber Pearl Harbor? Or will it be smaller one-off cyber-attacks? America’s recent actions were measured and non-violent, but may have increased the risk of cyber-counter-attacks on the United States, whether it be an attack on the power-grid or banking system or something else. In a recent article in Reuters, “State Cyber-Attack Poses Big Danger for UK Banks- Bank of England,” David Milliken writes: “A state-backed cyber-attack … [Read more...]

In a great piece in The Wall Street Journal, Glenn Ruffenach answers a question by a retiree who is looking to move. She wants a safe neighborhood, and Ruffenach explains that while most retirees looking to relocate are focused on the fun aspects of life like "climate, lifestyles, housing, shopping, cultural events," they should also be paying attention to things like "taxes, health care—and crime." Face it, if you're scared, sick or broke, it doesn't matter how many restaurants or shows are on Main Street, your retirement isn't going to be any fun at all. Ruffenach continues: Beyond the … [Read more...]

Chris Edwards, a friend of mine from the Cato Institute, has written a condemnation of the “grants-in-aid” programs the federal government uses to impose its own regulations on the states. He notes that President Calvin Coolidge predicted that government would encroach on the states, and it has. The federal government has especially intruded into the areas of education, housing and transportation. Those are all local issues that could be handled better at the state level. Chris explains why federal mandate policies don't work well, and how states could do a better job. He writes … [Read more...]