How To Give Yourself A Bigger Raise - Stairs

How To Give Yourself A Bigger Raise

How To Give Yourself A Bigger Raise - StairsAt work, my group has undergone several manager changes since I've been employed.  Currently, we have a temporary manager while the upper-level management tries to find a suitable fit for our batch of guys.  It's expected to be roughly a month before we get a new, more permanent manager.  Earlier this week, though, I got to see my last manager walking around our building with a stack of letters.  I knew that could only mean one thing - raises!

Ah, my first raise - how exciting.

Everyone at the company got one, so it isn't like I'm a top performer or anyone exemplary there.  In fact, like Mike Judge's character, Bighead, being unassigned in Silicon Valley, lately I feel I've been doing very little, so I don't believe I actually deserved any additional compensation.  But I'm not going to refute it - more never hurts!Continue reading

keep your big mouth shut - stealth wealth-ing - stairway of phi

How to Keep Your Big Mouth Shut!

keep your big mouth shut - stealth wealth-ing - stairway of phiI'm trying to tone it down in real life.  

When it comes to financial freedom and mental development I'm really passionate, but just like anything else, I'm sure some others don't always view that passion as a good thing.  If I let myself run wild, throwing around financial discoveries like there was no tomorrow, then a lot of people who don't share my excitement would view me as being radical - maybe even a little bit crazy!  So what do you do when people start to think you've got a few screws loose because you've expressed that youth should be utilized by the young or because you don't share the "understanding" that a credit card lets you buy things you can't afford!?

Well, at that point, I realize that I'm alienating those around me.  After all, to the majority of people, the ideas I talk about are too far out there - far enough out there for them to think I'm too far gone!  Continue reading

Understand Taxes in 10 Minutes

Understand Taxes in 10 Minutes!

Understand Taxes in 10 MinutesPeople speak of calculating their taxes like it's some sort complex algorithm, only understood by the great financial sages of our time.  Others believe that no one really knows what you should be paying, that it's all just random and all you can do is hope you get it close enough to avoid a tax audit!  Maybe this misconception is caused from the misinformed belief that money matters are difficult, private, and shouldn't be discussed (let alone understood!), but these beliefs are dumbfounding to someone who knows the rules and just how simple they really are!  The real truth is that, for most people, determining your personal taxes is so easy that anyone with a middle school education can do it!

Knowing how simple it really is, I'm always baffled when I talk to intelligent, active thinkers who view taxes as a mystery because that's all they've been told.  So today I'd like to take the mystery out of it!  I'll break down the concepts surrounding taxes as simply as possible so that you can understand taxes in 10 minutes and then be able to calculate your own taxes so that you can be confident that you're paying the right amount AND so that you can plan appropriately for tax years to come!Continue reading

fallacy of minimum wage - child

The Fallacy of Minimum Wage

fallacy of minimum wage - childBefore beginning I'd like to apologize in advance.  Today's intent isn't to leave you feeling bad for realizing what your server has to go through when you make their job difficult.  Nor is it to open your mind to sympathize for those who might have it more difficult than you.  My goal isn't even to encourage you to ask you boss for that raise, either.  I apologize - this isn't the socially uplifting piece you might want or expect.  This is a blunt and straight-to-the-point article about the logistics and fallacies surrounding a minimum wage job and why the minimum wage should not be raised with the hope to shake the foundation of those living "Just Because" lifestyles and inspire a shift in mentality regarding minimum wage 'careers'.  Despite my underlying purpose of education and my best intentions, I know this article will still offend.  I realize that.  It's a touchy subject and those struggling to survive on minimum wage jobs might feel like is an attack on them.  I assure you this is not my intent.  My intent is to encourage self-growth and the pursuit of something greater.  But before getting offended, please think about my argument and consider the points I raise.  I'll do my best to present them in a fair light.Continue reading

The Game-Changing Retirement Account Clause No One Seems To Know - wallet vice

The Game-Changing Retirement Account Clause No One Seems To Know

The Game-Changing Retiremnt Account Clause No One Seems To Know - wallet viceThe thought of early retirement can seem daunting.  What with every tax-deductible government-sponsored retirement account not allowing you to remove your funds without penalty at 59 and a half and all...  Right?....

Stop right there!  What if I told you there was a way to withdraw your funds from your 401k and IRA earlier than at the age of 59 and a half WITHOUT having any penalties?  By the end of this post, you'll know everything you need to utilize tax-deductible retirement accounts without the fear of punishment when it comes time to withdraw your contributions!  Continue reading

Formula To Wealth - Buddha

The Formula To Wealth - How Long to Attain It?

buddha - formula to wealthWe're here for the same reason - we want to be wealthy.  We want the power to live our lives independently and in control.  For us, money is more than a social symbol - it's just one more way of taking control of our own future!  I've discussed the three rules to acquiring wealth and the misconceptions surrounding income and riches, but even if you're applying everything I've talked about, you still have to wonder, "How will I know when I'm wealthy?"

If you aren't there yet, it might seem daunting to change your lifestyle to one more appropriate with attaining wealth, especially when it isn't really clear how long it will take to achieve that desired wealth - or if it's even worth it!  My goal in today's post is to shed some light on the mystery surrounding the time it takes to attain wealth.  Using the lessons learned from The Millionaire Next Door, I've devised my own series of equations to understand the formula to wealth and determine how long it will take you to attain it!

Continue reading

Three Rules To Be Wealthy - Lamborghini Lambo

Three Rules To Be Wealthy

Three Rules of Wealth - lamborghiniLet me pose a question. What is the sole determination of wealth?

Is a fancy car? A big house? A well-paying job with a high-standing social status? Or is it the dollar sign attached to your bank account?

If you answered "yes" to any of these options, this article is specifically for you! Many would be reluctant to believe that real wealth isn't determined by the amount of stuff you have or the amount you make. And even more have been offended to hear that anyone can obtain wealth regardless of their current financial situation!Continue reading

January Update - Winter Trees

Phi's January 2016 Update - Reading and Review

Originally Posted On January 31, 2016

January Update - Winter TreesAs a part of my New Year's Resolution, I've decided to read one book relating to financial education a month.  This month I was an unstoppable reading robot hell-bent on covering as much ground as possible.  Due to my tenacity, I completed not one, not two, but three financial education books!  Below are the titles and a brief review, as well as my recommendation.Continue reading

Phi

Today I Lost All My Money

Originally Posted On January 29, 2016

 

PhiWell, not really.

It's true that I lost all my money, but that's because today I did spent more money than I have COMBINED over the course of my whole life and EVERYTHING that I've saved since the age of 17 has disappeared.  In fact, I spent so much that I owe a debt of $68,000 to someone else!  But my big-impact, slightly misleading title wasn't for nothing.  For everything lost, something is gained.  In this case, I lost my money (and the money I'll make in the future) to become a homeowner!

Having made the biggest purchase of my life (as well as the biggest purchase I'll be making in the foreseeable future), I would have thought at the very least I'd be a little freaked, but actually the exact opposite is true!Continue reading

Playing With Puzzles to Beat 'Average' - Puzzle Piece

Playing with Puzzles to Beat Average

Originally Posted On January 25, 2016

Playing With Puzzles to Beat 'Average' - Puzzle PieceThe more I come to understand my own life and where I'm heading, the more I realize that the knowledge was always there, intrinsically - I was just never able to rationalize or verbalize it.  But the more I do (either in my head or through this blog), the more I believe that there are certain truths that most adults intrinsically understand when attention is drawn to it yet, until so, the puzzle pieces never quite 'click', despite having sat right next to each other, so close to connecting for potentially even years on end!Continue reading

Quit Wasting Money On Card Transactions

Quit Wasting Money On Card Transactions!

Originally Posted On January 10, 2016

Credit Card TransactionA few posts ago, I discussed a couple of one-time stop ways to generate passive and near-passive income.  The idea was, by performing a few small tasks, you could generate amounts of money with a high investment-to-reward ratio.  One of the suggestions, specifically, was utilizing Lake Michigan Credit Union's Max Checking account which yields 3% APY on funds up to $15,000 (while containing no account charges).

One of the requirements to generate the 3% interest, though, is that you need to make 10 transactions a month on the account's debit card.  This problem might be very specific and not apply to everyone, but if you're only using your rewards card, then it might apply to you, too.  Not only do I normally not make 10 transactions a month on my card, but when I do make transactions I make them on my Sallie Mae Mastercard for 1-5% cashback.  Obviously I don't want to lose those perks and I'm not going to spend $10 a month on single sticks of gum to get the interest (at the max of $15,000 this would take away 27% of your profits!) so I came up with a plan.Continue reading

Investment to Reward Ratio List - Coin Stack

Simple One-Time High Investment to Reward Ratio List

Originally Posted On January 1, 2016

Investment to Reward Ratio ListIn my last post, I discussed the concept of maximizing your investment to reward ratio and mentioned I'd be posting a list of low commitment, one-time, high investment to reward ratio applications so that you can reap rewards in your daily life without taking away much time to your schedule.  For those eagerly waiting, I've delivered!  This list is subject to change as opportunities come and go.  If any of you know of any other one-time investments that you think should be on this list, let me know and I'll check them out!Continue reading

High Investment to Reward Ratio - Time is Money Clock

Thinking of Dollars Differently - Investment to Reward Ratio

Originally Posted On December 31, 2015

Investment to Reward RatioWhen people dream of being rich, they don't dream of long hours at the office or sacrificing their free time to pursue a business - they picture the sports cars, fancy clubs, and the daily freedom to do whatever they want without the fear of running out of money.  While these fantasies aren't often rationalized, the idea of making money without working (or while doing very little work) seems to appeal to the dreamers.  Myself included!Continue reading