“What happened to your friend who bought Tesla stock on margin,” a reader asked. He likely lost a lot of money, but I haven’t asked for details. That would be rude. On March 31, 2021, I published a post entitled, Buying Stocks On Margin Is A Bad Idea: You Could Lose Big. I wrote the […]
Losing All Your Money Investing On Margin Is Not The Worst Thing Read More »
Happy New Year everyone! I’ve made goals publicly for over ten years because it helps keep me accountable. Making goals also makes the year more exciting and challenging. Hence, here are my goals for 2023. Once again, I’ve divided the goals into five categories: Health, Wealth, Family, Financial Samurai, and X-Factor. My goal is to achieve
2023 Financial Samurai Goals: Back To Easy Living Read More »
We made it! My goal for 2022 was to do less work and have more fun. 2020 and 2021 were difficult years thanks to the pandemic so I needed a break. Overall, I give 2022 a B+. The year was great from a family and health standpoint. But the year was piss poor from a
2022 Financial Samurai Year In Review: Family Over Money Read More »
Enjoy your life, no matter the economic situation. If you do, then you’ll always be winning. The key is to recognize reality and take appropriate action. The Fed hiked another another 0.25% on March 23, 2023 to 4.75% – 5%. Despite multiple consecutive lower-than-expected monthly CPI numbers, a blowing up of regional banks and Credit
How To Enjoy Your Life After The Fed Ruins The World Read More »
The first rule of financial independence is to not lose money. If you lose lots of money, you are ultimately losing valuable time. Losing time is the biggest financial mistake you can make because time is the most valuable asset. Now let me introduce the second rule of financial independence: never expect your income to
The Second Biggest Financial Mistake You Can Ever Make Read More »
Minimalism and early retirement go together like peanut butter and jelly. Each item compliments the other. Minimalism helps get you to early retirement sooner because you are lowering your cost structure. Early retirement makes you want to simplify life so you can remain retired and enjoy your time more efficiently. Since 2012, I’ve worked on
Minimalism And Early Retirement Go Perfectly Together Read More »
Since 2012, I’ve been arguing that freedom is priceless. After giving up a healthy income and my career for more freedom, how could it not be? But maybe I’ve just been telling a lie to make myself feel better about not being richer! We lie to ourselves to help justify our decisions. Otherwise, we might
Freedom May Not Be Priceless: Consider Going To Jail For Money Read More »
Are you confusing your good fortune due to your own skill rather than due to luck? I’m here to argue that above average wealth is mostly due to luck. Therefore, stop deluding yourself into thinking you’re so great! As President Obama said in a July 13, 2012 campaign election speech, “If you’ve got a business,
Your Outsized Wealth Is Mostly Due To Luck: Be Thankful! Read More »
Contrary to popular belief, the ideal retirement age isn’t as soon as possible. Retire too soon and you may feel empty for never living up to your true work potential. Retire too late and you might always be left wondering what could have been if you had changed course sooner. For example, a 35-year-old couple
The Ideal Retirement Age To Minimize Regret And Maximize Happiness Read More »
Do you know what is really hard? Deciding to walk away from a whole lot of money in your prime. If you decide to retire early or take a lower-paying job out of joy, you must accept the death of your maximum money potential. Over the years, many readers looking to retire early or do
Overcoming The Downer Of No Longer Making Maximum Money Read More »
