Plus a man lives off $5k/year & money decisions that will make life easier

Photo by frank mckenna on Unsplash

Welcome to the Weekly Dividend a newsletter from Making of a Millionaire, where we highlight the latest and greatest content we have to share with you from the past week.

If you enjoy the stories you read on Making of a Millionaire, forward this email to a friend. If someone forwarded this to you, consider subscribing here.

What Retirement Can You Actually Afford with $500k, $1 Million, or $2 Million in Assets?

Written by: Opher Ganel

Have you thought about retiring early?

Maybe in your 30s? 40s? 50s?

One couple, Billy and Akaisha Kaderli, did just that. …


Personal Finance

#1 — Not investing in the stock market

Managing money is a lot like planting the Giant Himalayan Lily if you get started today, it might take close to a decade before your hard work bears fruit.

At the time I write this, I’m 32, and if I had a time machine and could talk to my 22-year-old self, he would not believe how much I don’t stress about money these days.

I attribute the financial ease I am experiencing today to three decisions I made during my 20s:

  1. Not investing in the stock market.
  2. Embracing “optional frugality.”
  3. Always working a side-hustle.

Let’s dive into each of these…


Investing

What you need to know about “preferred shares”

Picking money.
Picking money.
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Most people who are pursuing financial freedom are attracted to the concept of passive income, which is simply income earned from investments. If you have enough passive income, you become less reliant on the paycheck from your job and can pursue your passions more freely.

The only problem is that we live in a world of near-zero interest rates, which means investment yield — which is simply the income generated from an investment relative to its price — is historically low.

The interest paid by most bonds issued these days doesn’t even cover the cost of inflation.

All this is…


Making of a Millionaire now has personal finance discussion forums.

I’ve long been looking for an alternative to Facebook groups for the MOAM community to have discussions, ask questions and share their financial journey.

I am excited to announce the launch of personal finance discussion forums by Making of a Millionaire.

All you need to do is click here, set up an account using your email and name and ask a question, start a discussion and start responding to other posts in the community.

Other cool features include following topics, voting for your favorite posts, and embedding GIFs, videos, and files into your responses. If you’re looking for a supportive community to discuss personal finance you can get started here.


Financial Freedom

And how you can make a few tweaks to finance your dream life

Photo by Lucas Benjamin on Unsplash

Possibly the biggest cultural trend in personal finance over the past decade has been the rise of the Financial Independence, Retire Early (FIRE) movement.

FIRE followers aim to save and invest a high proportion of their income so that they can build enough wealth to finance their lifestyle independent of their paycheck. At which point they are considered “Financially Independent” (FI) and may choose to “Retire Early.”

  • I love the philosophy behind FIRE which is to reject consumerism and embracing frugality.
  • The math behind FIRE is oversimplified and could end up being discouraging for some.

In this article, I dive…


Medium product request: Reddit style discussion threads for publications

I’ve been told that the powers that be at Medium are pretty good at reading and responding to what changes writers and readers want to see on the platform.

So, here goes, Medium team; if you are reading this, I think it’s time that Medium take the next step in making this a platform where people really live by providing publications a way to easily create discussion threads/forums.

At Making of a Millionaire, I’ve been considering creating discussion forums on a 3rd party app, but most of my readers are on Medium, so I would really like to be able to host it here on this platform.

Medium, I want to increase reader engagement with the platform; please help me do it!

If you agree, let me know in the comments, and let’s put this on Medium’s radar.


How I am spending my “Medium Stimulus Check.”

You may have heard that Medium gave out $500 as a monthly bonus to a bunch of writers yesterday. I am coining a new phrase and calling this the “Medium stimulus check.”

Within 10 seconds of my funds hitting my account, it will be swiftly transferred to my investing account. Because writing is my “side-hustle” and I save 100% of my side hustle money, which as I explain here, helps me save 83% of my income.


Plus, why I won’t burn my mortgage and changing my mind on FI

Photo by fran hogan on Unsplash

Welcome to the Weekly Dividend, a newsletter from Making of a Millionaire, where we highlight the latest and greatest content we have to share with you from the past week.

If you enjoy the stories you read on Making of a Millionaire, forward this email to a friend. If someone forwarded this to you, consider subscribing here.

$500,000 at Age 38, Do You Retire?

Written by: Rocco Pendola

Had I “played my cards right,” I could have amassed $500,000 — probably more — by age 38.

But, for a whole host of reasons, including a handful of money mistakes and poor spending decisions, I didn’t.

Plus, I’m…

Ben Le Fort

Economic policy wonk by day. Personal finance writer by night. I write about investing, debt, and all things related to money. Editor of Making of a Millionaire

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