Minimizing Personal Finances

This is Part 2 of a three-part series on minimizing.  Click for Part 1 and Part 3.

One of the keys to success in life is the ability to see the big picture.  In other words, a successful person won’t miss the forest for the trees.  The same is true for achieving success with personal finances.  A person who frees himself from the mundane (e.g., going to the post office to mail out bill payments) can focus on the truly important issues (e.g., asset deployment, tax minimization, etc.). Continue reading

Saying Goodbye to Paper

This is Part 1 of a three-part series on minimizing.  Click for Part 2 and Part 3.

One of my projects over the summer was to go paperless.  Some people view the paperless revolution as a fad, but I saw it as an opportunity to change my life.  Generally, I’ve been good about getting rid of unnecessary paper.  Going paperless, however, not only allows me to nearly get rid of paper entirely, it also allows me to back-up important documents without worrying about losing the original paper copy.  Getting rid of paper sure feels good.  I can even get rid of the filing cabinet I’ve been forced to lug around with me as I’ve moved over the last few years.

Here’s how I did it. Continue reading

Two Comma Milestone!

It’s official.  Our net worth just passed the million dollar mark.  About 3 1/2 years ago, I participated in J. Money’s Million Dollar Club.  At that time, I estimated that I would become a millionaire by 2016.  Turns out I beat that estimate by almost 3 years.  This is due in large part to a continuous increase in my income.  In 2010, I was a 4th year associate making $210K a year plus bonus.  Now, I’m making much more than that, not including my wife’s income.  Another contributing factor was that we started to invest in the market late last year having sat on the sidelines for much of the recovery.  In the last week, we probably made $20K in the market.  Although, had I started earlier, say 2009, I would be way past $1M at this point.  Finally, getting married added about $50K to the total net worth.

We just might have to celebrate just a little this weekend.  Certainly, not so much that we rejoin the one comma club!