Get ready to get on FIRE

There's so many financial acronyms around you could be a Y.A.W.N or maybe a D.I.N.K. or heaven forbid a S.I.N.B.A.D (single income no boyfriend and desperate!)

F.I.R.E - Financial Independence Retire Early is one I really like.

"FIRE is having a moment, and it’s not hard to understand the appeal. Financial independence? Sounds great! Retiring Early? Sign me up! It’s a movement that’s quickly gaining momentum, too. We spoke with four FIRE enthusiasts and asked them to share what the movement is all about, and what it takes to achieve this elusive goal of Financial Independence/Retire Early." Read more

One FIRE advocates take HERE

It is very simple in theory, reduce your expenses to the point where your income covers them and you have suffienct funds left over to save. That means downsizing, no venti lattes and a lot more sacrifices. However the joy you get from lying on a beach without a worry at 45, 55 or 60 will be well worth it.

If you knew then what you know now...

I love this post. It's MSN's "What 14 super successful people wish they knew at 22" It's enlightening and I think a must read for any age.

At 22 I was rudderless, living in a green shag apartment over a Chinese restaurant in Victoria, B.C.  I was working towards an associate degree in applied sciences (which I used for 1 year and never liked) and working at Money Mart. I had no clue what I was doing and never dreamed I would be doing what I do now.

I would tell my 22 year old self, "You don't have to decide RIGHT now, take some time and experience the world. Think about where you are getting your advice from."

"If you are willing to dream and then work hard and execute well, you can achieve more than you ever imagined." Maynard Webb Apple Chairman's advice to his 22 year old self.

I'm worth the DailyWorth*

Somehow I signed up for the Dailyworth. I don't remember doing it but thank goodness I did. The articles are excellent.

Today my favorite "10 habits of high net worth women" has very good points, although I don't think you need to be a woman (the site is female centric) to apply them. The list includes:

1. Determination and will power
2. Start investing early
3. Save Save Save - they have different suggestions on how to do
4. Control your credit card
5. Be goal oriented

My favorite is "Live Like You are Poor".  I'm enthralled by living well below your means. I've always been a proponent of this and practice it myself. My father bugs me about it but I think its the safest, smartest financial move you can make. I'm not the only one who thinks so check this, this and have you have you heard of these guys? It's a new form of social responsibility. Sadly in my line of work I see people who live beyond their means, look fantastic but cannot pay the rent.

They're the kind of common sense points you know but may not always be applying. If that article is not for you then you can choose from the myriad of topics under the tabs Plan for the future, Earn with passion , Spend with intention, Give for good and Live to the fullest - very cool.

*Actually it's free but I'm worth time I spend enjoying all articles. It really does feel like a guilty pleasure. 

High net worth people are different

I scanned this article today and initially I thought it was obvious. However, if you don't know how to manage your money then having and maintaining a high net worth will be hard. That's why you see lots of celebrities broke after years of making millions and millions of dollars.

"Calgary will and trust lawyer Coady Cormier has spent the past 13 years advising people who are worth more than $1 million on how to best protect that money. Along the way, he has noticed some trends in how that money is managed and the attitudes of the wealthy. Some of the observations are what one might expect."

Here they are:
- frugality
- good at controlling debt
- fewer divorces
- tolerance within couples ie to workaholics
- tendency to not be conspicuous consumers
- review portfolios, wills and insurance every 3 years
- deeper responsibility with financial planning


It's a great article read more HERE

Could your wallet really betray you?

This article from MSN money is fantastic. Basically the state of your wallet is the state of your finances on a very small scale. So, if it's stuffed with crumpled bills and receipts your head is in the sand but if your bills are orderly and you know how much is in there you have a pretty good control of your money.

It's not the first time I've heard this either, how you treat your money is how you TREAT your money. If you're disrespectful to it, leave it scattered around and generally aren't aware of it then you are probably trying to sabotage your finances or "don't care" about money. I say "don't care" because like it or not we all care about money.

Since I learned this principal I went from the crazy messy wallet to the organized wallet and wouldn't you know my finances improved dramatically?

Here are some good tips to slim down your wallet.

Rich Dad - Don't Take Loser Advice

Robert Kiyosaki sometimes writes for Yahoo! Finance. His articles are insightful and this week's couldn't have been more bang on.



Taking advice in this economy that equates to doing the same thing you have always done will get you worse than the same results. It could lead to a very uncomfortable financial future.

Who can say what will happen with the stock markets and economies around the world. Don't bet your future on a salesman's spiel.

"So what is wrong with those giving the advice and those following it? Now that the markets have crashed and trillions have been lost, these so-called experts continue on like mindless parrots, saying over and over again, "Polly wants you to invest in a well-diversified portfolio of mutual funds."

"So my advice is, be very careful whom you take financial advice from -- and that includes me. My guidance, after all, does not work for 80 percent of the people. My suggestions are not right for those who work for a paycheck or for commissions, nor do they work for those who save money in the bank or a retirement account." Read More

For me I want tangible assets that produce cash flow. It's common sense when everything else goes haywire I will have passive income coming in from well chosen properties. Why gamble your life savings??