We recently shared in several articles that we are considering downsizing our home—and the resulting financial and lifestyle perks that we could enjoy. Today, we are at a decision crossroad as we decide which path to follow. Through a somewhat complicated deal, the parents of an acquaintance of ours signed a contract with us to […]
Real Estate
Rental Property 101: 10 Steps to Setting Up Your Business
I have mentioned, in earlier articles, that rental real estate has provided an excellent way for us to build net worth and to create a passive income. I thought it would be helpful for readers who are early in their personal finance journey to learn about what it takes to set up this type of […]
Rental Properties: How I Got Started
Both personally and financially, my involvement with real estate has been an important aspect of my life. My first home was an investment property that I acquired in my late teens in a rather unusual manner. I certainly was not planning to buy a rental property at an early age, yet a serendipitous chain of […]
Simplicity: Considerations for downsizing our home
We have spent extensive time and energy considering downsizing from our current home in Sedona to a smaller townhome located less than a mile away. My in-laws currently own a townhome in Sedona, rented to tenants on a month-to-month basis. We are considering purchasing that townhome from my wife’s parents once we are able to […]
Financial Considerations for downsizing our home
We have spent much time and energy considering downsizing from our current home in Sedona to a smaller townhouse located less than a mile away. My in-laws own the townhouse, currently rented on a month-to-month basis. The downsizing subject is an ongoing discussion over coffee in the morning or sipping a glass of wine while […]
Eliminating Our Debt Interest in 2016
A significant amount of our early retirement planning involves a passive income stream from rental real estate. We have plowed through our debt snowball for nearly ten years, paying off one mortgage after another, and then loading up additional principal payments on the next loan slated for early completion. This has, at times, seemed endless. […]
4 Significant Lifestyle Changes in the Past 40 Years
We all know that time keeps moving on and waits for no one. It is amazing to reflect on the advances in technology many of us have witnessed in our lifetimes. The rise of personal computers, cell phones, the Internet, and instant communication is unprecedented. Could you imagine trying to predict and explain this to […]
Step 2: Create a Passive Income Stream
This article is the second in a series of seven that will discuss what it takes to reach financial independence. If you have not already read the first step, which covers budgeting, please take a minute to visit that post. This article will outline why you should create a passive income stream. When I first […]
Should you rent or buy your home?
Lately, I have been reading a lot of articles online about the virtues of renting versus owning your home. The posts and feedback from readers have been quite informative and interesting to read. Should you rent or buy your home? I enjoy exploring how other people approach their location and lifestyle. Maybe this is my […]
How Does it Feel to Pay Off a Mortgage?
My goal—and one that my wife and I share—has always been to be mortgage-free. Although this has felt like a huge obstacle, it has been an important milestone in planning for our retirement. These days, the trend seems to be that more people are retiring with mortgage balances. To me, it appears fiscally irresponsible and […]