Hello. Welcome back from the extended Labor Day weekend in the US. I sometimes miss this holiday, in large part because it is socially acceptable to consume excessive amounts of BBQ and beer.
It is a short work week for many, and correspondingly a slow blog week(recovering from BBQ and beer?), so there is no better time to share some interesting blog data… I know not everyone loves behind the scenes blog details. (What?!)
But here it is: Sometime today blog traffic for 2018 will exceed traffic for all of 2017. This is about 40% year-over-year growth. Blog revenue passed the previous annual record about a month ago.
Here are the details on what I did to grow Go Curry Cracker.
(GCC: The transition from “earning and saving” to retiring (early) and “spending” is daunting for many and terrifying for some. We analyze, examine, cross-examine, think, over think, and then analyze some more… So what happens when you ultimately pull the trigger? 3 years ago I provided some feedback* to Mr & Mrs NYC as they were going through these mental gymnastics. Now, let’s check in with them as they hit their 2-year and 3-year early retirement Anniversary, respectively, and see how they managed that transition and their Escape from New York. tldr: After reading their story, I’m super jealous. What a truly amazing and rewarding life!)
A few years ago, we were in our early 40’s, married with two cats, living in NYC, and working high-pressure jobs in careers where we achieved success but not much personal fulfillment. GCC performed a financial review for us and opened our eyes to an opportunity: if we sold our Manhattan condo and moved to a lower cost of living location, we could quit our jobs immediately and live off our savings — according to the math behind the 4% rule, at least.
(GCC: People read everything I’ve written about Real Estate and automatically assume that I believe owning real estate in any form is a terrible idea. That is understandable, but is only mostly true :) When consciously entered as a real business and with a compatible personality, rental real estate can be a capital friendly, cash flow friendly, and tax friendly path to Financial Independence. In fact, this is the approach I recommended to my own brother. Today, Coach Carson enhances our Never Pay Taxes Again series, paying no taxes with rental properties.)
Jeremy set the bar high for early retirees. While most of us aim to minimize or optimize our taxes, he wrote an article that took it to another level entirely. His crazy idea was to Never Pay Taxes Again!
After reading Jeremy’s article, I began to look more closely at my own tax returns. I realized that most years I also paid little or no income taxes. And it turns out I used the same core principles Jeremy explained, except I did it with real estate investing.
So, this is my turn to show how to never pay taxes again (or at least keep them to a minimum). I’ll build on the core principles you’ve learned from Jeremy. Then I’ll explain the nuances that make real estate both beneficial and challenging.
First Job: Money Model – “Like a kid in a toy store with 100 Euros and Daddy’s credit card”
(GCC: I recently asked Chief Mom Officer a very pointed question:
Winnie and I both grew up poor, and a big part of our money value system started from a place of deprivation. We ended up in the right place, but not in necessarily the healthiest way possible. Now we are raising our own family with an abundance of money and time… how to instill those same values about saving, delayed gratification, etc… in a positive and healthy way?
What recommendations would you make to families like ours? Today’s post is the answer.)
How do you teach kids the important lessons about money, especially if you didn’t grow up with a great parental example?
Teaching your children important money lessons can be tricky. I would know. As the mother of three boys, ranging in age from 14 down to 3, I’ve had a lot of experience with teaching kids of different ages the basics of smart money management.
This week I’m going into the GCC Inbox to answer a question I’ve received several times over the years.
GCC
Thanks to your blog my wife and I will be retiring early next year. We are Americans and want to move abroad for a few years, in part for the adventure but also to minimize our taxes in the early years. This should help with sequence of return risk. Most of our retirement income will come from qualified dividends and long term capital gains, same as you.
We like the idea of being in one place most of the time. Are there any countries you think would be good to use as a base?
