When our daughter Zoey was born, we purchased a boatload of baby products. Some of those items were extremely helpful and others not so much. Quite honestly, we were new parents and had no clue what we were doing, but we definitely learned quickly.
Mortgages. Electric bills. Unexpected repairs. Owning a home can be quite expensive. Every day it seems like there is a new bill to pay or something to fix. Didn’t someone tell us owning a home was a great investment at one point in our lives? We are spending so much to maintain this “asset” that sometimes it doesn’t feel like it’s worth it.
I’d like to flip the typical script on costly home ownership and talk about ways that this asset of ours can make US some money.
Lately, the shows and interviews I’ve been doing have been focusing on decreasing your expenses and increasing your income. When we make improvement in these two areas, it’ll allow us to become experts in increasing our net worth and our opportunities for financial independence. Today, we’re diving into increasing your income through real estate.
I had a chance to speak with an expert real estate investor named Mark Ferguson the other day. Mark currently owns 14 rental properties that provide him with $7,000 per month in passive income. He’s also spent the last decade and a half flipping over 120 houses and selling over 1,000 homes as a real estate agent. He now manages a team of 10 that focus on growing and maintaining the overall real estate portfolio.Continue reading “How to Make $7k Per Month Investing in Real Estate – with Mark Ferguson”
Will this winter ever end?!
I don’t know why I’m surprised at how long this winter has lasted. I’ve lived in Michigan for over 25 years now. You think I’d be used to it. This is just the time of year I go a little stir crazy!
The commitments Nicole and I made to each early on in our marriage have helped us to remain a strong, supportive and loving couple. One of those difficult decisions was whether or not we should combine our finances together when we got married. We figured that if honesty and teamwork were the pillars that hold up a strong relationship, joining our bank accounts and declaring it’s not “my money” and “your money” anymore was a great place to start.
Every day, I look for ways to better myself. And this blog has been my medium for that betterment over the last 6 months. It has kept me honest when it comes to being the best husband and Dad I can be as well as with growing our family net worth.
I thought it’d be fun to throw down a challenge on the first Monday of each month for myself and hopefully the readers of this family empowering blog would join along as well. The topics will vary, but will all focus on improving your financial and family situation.Continue reading “MKM Challenge: Reduce Your Grocery Expenses by 1/3”
Earlier this year, I set a goal of having a net worth of $1,000,000 by the time I turn 40. What seemed like a lofty goal at one point in my life now seems decently feasible. I owe a lot of that success to the investment I’ve made in my education. And no, I’m not talking about college degrees (Go Green!). I’m talking about the small investments I’ve made in purchasing some of the most inspirational, eye-opening and motivating books out there on business, personal finance and professional growth.
So you got a big tax return?! Sweet! What an awesome feeling!
The big question is … What should you do with this unexpected money now at your disposal?
I’ve been doing a lot of research and interviews lately about financial independence and early retirement. I guess I’m inspired! The idea of not having a full-time job eventually sounds pretty appealing to me.
Well, you might say, “There’s no way I couldn’t have a full-time job in the area I live in! I have to pay my mortgage, I like to eat healthy, I need health insurance. It’s just too expensive.” Higher cost areas like New York, DC, Chicago or San Francisco come to mind when we’re talking about higher cost of living. Even though these are some of the most expensive places to live in the US, our guest today proves that early retirement can be feasible even if you are in one of these high-rent areas.Continue reading “How to Retire Early in Northern California at 43 – with Dylin Redling”
The magical Roth IRA … You’ve heard that you need one. Or if you have one, you’ve heard that you should be taking full advantage of it. What is so excellent about a Roth IRA?!