Unless you enjoy free-soloing like Alex Honnold, your chances of dying are very slim. However, you still need to prepare for this rare but catastrophic possibility. Who Needs Life Insurance The purpose of life insurance is to replace your income if you die. Therefore, if anyone depends on your income (usually a spouse or kids), you need […]
Archives for April 2017
Insurance: Know What You Need (And What You Don’t)
Insurance isn’t fun. In fact, it can be downright boring. However, it is absolutely necessary to understand the basics and spend some time setting up your policies. You can spend decades earning your freedom, but if you don’t have the right types and amount of insurance, it can all be erased in a second by an unforeseen catastrophe. […]
To Reduce Expenses, Focus On The Big 3
If you’re trying to earn your freedom, you need to save a huge percentage of your income, somewhere on the order of 50%. To do this, you need to reduce your expenses significantly. Foregoing your daily coffee, while important, is not really going to cut it. You need to make large sweeping slashes in the big […]
Stop Celebrating Your Tax Refund
Around tax time each year, millions of Americans eagerly await their tax refund check, as if it’s a gift from the government. In fact, receiving a refund means that you overpaid your taxes. You have given the IRS an interest-free loan. If you are feeling generous and don’t have a problem with loaning the IRS […]
Wait, You Still Haven’t Refinanced Your Student Loans?
If you have student loan debt, you are losing money every day. For example, if you have $100,000 worth of student loan debt at 6.8% interest, you are paying $6,800 in interest every year, or around $20 per day. Of course, the best solution to this travesty is to annihilate your loans as fast as […]
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