Category Archives: Financial Freedom

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Financial Freedom, Financial Independence, Investing, Wealth

How Buying Super Bowl Tickets Could Cost You $2 Million Dollars

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American, Football, Sport, Game

I like sports. Watching sports. Playing sports. It’s great exercise and a way to encourage team building, leadership, and character.

However, going to an actual sporting event is a whole other matter entirely. I did some research and found out that regularly going to sporting events can make you BROKE!

Going to see your favorite sports team could put your bank account on empty faster than a housewife with all-access to your credit cards!

I’m not talking $50 tickets here. Oh no. We are talking thousand of dollars to watch Brady, LeBron, and Bryce Harper do what they do best live and in person. It will cost you.

This year’s Super Bowl is coming up on Sunday and if you want to get into the stadium, you better be prepared to give up a couple mortgage payments.

Here is everything you need to know about the upcoming Super Bowl and how it can really cost you $2 million bucks!

EVERYTHING YOU NEED TO KNOW ABOUT SUPER BOWL LIV

Super Bowl LIV: San Francisco 49ers vs. Kansas City Chiefs Hard Rock Stadium – Miami Gardens, FL on Sun Feb 2 at 630 PM. 347 Don Shula Drive Miami Gardens, FL 33056

After doing some research on Super Bowl ticket pricing, I found a comprehensive listing of the event on vividseats.com. This information comes straight from their website.

Super Bowl Ticket Information

Your Super Bowl tickets are available at Vivid Seats – the football fan’s top destination for tickets to the biggest game in American sports. Buy Super Bowl 54 tickets for the grand finale taking place on Feb. 2, 2020 at Hard Rock Stadium, home of the Miami Dolphins. Vivid Seats has long been a trusted partner of football fans attending the NFL’s marquee game. Featuring an industry-best customer service center and flexible delivery methods, you can rely on our ticket marketplace as your hassle-free connection to great Super Bowl 2020 tickets. Call 866.827.7094 for personalized order assistance today with Super Bowl LIV tickets today.

Super Bowl Ticket Prices 2020

How Much Are Super Bowl Tickets for 2020?
No matter what you’re looking to spend, Vivid Seats has Super Bowl 2020 tickets to fit your budget. Super Bowl tickets cost $7655 this year on average.

How much is a Super Bowl ticket for 2020?
At Vivid Seats, we have tickets to the 2020 Super Bowl starting at $4815 with an average price of $7655.

Cheapest Super Bowl Tickets
While even cheap 2020 Super Bowl tickets are going to be more expensive than most NFL games, there are still great deals to be found. Prices will fluctuate based on many factors such as inventory and demand, so be sure to get your cheap Super Bowl tickets before it’s too late! The cheapest Super Bowl tickets cost $4815.

How do you get tickets to the Super Bowl?
Snagging tickets to the Super Bowl can be tricky, but at Vivid Seats, we make it easy to find your perfect tickets to the 2020 Super Bowl. Browse our wide selection of Super Bowl tickets today!

Who is performing at the Super Bowl 2020 halftime show?
On Sept. 26, the NFL announced that Jennifer Lopez (JLo) and Shakira would perform at the Super Bowl 54 halftime show. Demi Lovato will sing the national anthem.

When Is the Super Bowl?
Super Bowl 54 will take place on Sunday, February 2, 2020.

Future Super Bowl Locations
Super Bowl 2021: Tampa, Fla.
Super Bowl 2022: Inglewood, Calif.
Super Bowl 2023: Glendale, Ariz.
Super Bowl 2024: New Orleans

Super Bowl 2020 Parties
Super Bowl 2020 Parties include the Bud Light Super Bowl Music Fest and the Rolling Stone Super Bowl Party.

YOU HAVE TO PAY THE COST TO BE THE BOSS OR SIT NEAR THEM

What really jumped out at me was the average ticket price of $7,655. This is an insane amount of money to spend on one day for a few hours of entertainment. I would rather invest that money.

Matter of fact, I could invest in all the companies that are sponsoring the Super Bowl such as Frito Lay, Bud-light, Live Nation, Ticketmaster, Delta Airlines, Marriott Hotel, and Fox. All these companies have a stake in the game and are making a mint off all those SB parties and tailgating. Let me get in on the action too!  

According to Marketwatch, tickets purchased through Ticketmaster LYV, -2.30%, the official ticketing partner of the NFL, is higher than any other year in the past six years, the company said Tuesday.

TICKET PRICES ON ALL THE MAJOR TICKETING SITES

It would be safe to say that there is a monopoly going on with where you can purchase tickets. Much like healthcare in the America, buying event tickets is starting to become a racket.

I know folks that say healthcare will cost their families $1,100 to $1,800 or more per month. That is outrageous!

It is eye-popping prices like that which case people to forgo getting teeth pulled and limping around on crutches for a month before finally getting that sprained ACL looked at.

Ticket gouging is all the rage and I feel the general public is being taken advantage of. However, if you do not agree with me that’s cool. I can only speak for myself in saying I am not willing to pay $5,000 on one event unless I had that much income or more coming in off my passive investments every month.

That being said, I am taking you behind the curtain of Super Bowl ticket prices.

Prepare yourself and gird your loins.

Image result for ticketmaster logo

Ticketmaster prices ranged from $4,950 to $26,125 for VIP. That is what some colleges are charges for anywhere between one semester and four years of college!

Vivid Seats prices ranged from $4,900 to $14,136. And unless this was a typo, a 11-person suite would cost $327,020 each. Are you freaking kidding me?! That is the cost of a house! If you invest that money and let it ride, you could be a millionaire in like 12 years!

Image result for stubhub logo

StubHub prices ranged from $4,945 to $49,000. Again, investing this money and letting it ride would make you a multimillionaire.

Over 40 years with a 10% interest rate, you could have $2,217,703.52 in your retirement account and be a 401(k) multimillionaire!

Granted most people are not willing or able to cough up this dough, but for those thinking able maxing out 10 credit cards to be treated like a VIP for like six hours you are giving up $2 million.

Image result for seatgeek logo

SeatGeek prices ranged from $4,448 to $17,425. You could send you kid to college or on a European immersive education endeavor to learn different cultures and languages.

Fun Fact: The late great NBA legend Kobe Bryant spoke Italian fluently as he lived abroad with his family as a kid while his father played in the NBA. May he forever rest in peace.

Here is a Super Bowl price tracker from SeatGeek.

EventDateAverage Resale Price
Super Bowl LIV2020-02-02$10,973
Super Bowl LIII2019-02-03$5,073
Super Bowl LII: New England Patriots vs Philadelphia Eagles2018-02-04$5,373
Super Bowl LI: Atlanta Falcons vs New England Patriots2017-02-05$3,976
Super Bowl 50: Denver Broncos vs Carolina Panthers2016-02-07$4,531
Super Bowl XLIX: New England Patriots vs Seattle Seahawks2015-02-01$4,268
Super Bowl XLVIII: Denver Broncos vs Seattle Seahawks2014-02-02$2,598

According to CBS, $40,000 Super Bowl tickets could get you admitted to the “72 Club,” so-named after the Miami Dolphins’ perfect 1972 season.

Their $40,000 ticket includes black car service to and from Hard Rock Stadium, a private lane on stadium grounds to bypass traffic, a private concert from an A-list performer, high-end food and booze, and even access to the field for the post-game celebration.

And if you want more luxury and exclusiveness there’s an even higher level for the V-VIPs: Nine open-air living room suites that Walls says feel “like sitting in the back of a yacht, only at the 50-yard line.” Priced at $750,000 per suite, it’ll cost about as much as a yacht, too.

Again, investing this money could make you a millionaire in like three years. Obviously, you have to be a high roller with a net worth of like $25 million to even consider this kind of excess IMO.

Here’s where most millennial’s are investing. You could do the same instead of going to sports events.

One of my absolute favorite blogs posts out there is about why not to invest time and money into professional sports by blogger Mr. Groovy at Freedom is Groovy.

Heck, that $750,000 swanky VIP suite cost is my FIRE number as that amount spits off investment enough income for me to live off of and not have to work again.

I put my money into index funds and let it ride. You could put it into 500 index funds like me. The S&P 500 is up 200%! Get in on this market!

Especially, considering that 50% of Americans are not invested in the stock market and have $0 in savings and investments.

I am all about rejecting new car ownership to become Financially Independent. No new cars and no Super Bowl tickets for me. I want to be free!

But this is your life. You decide. You want to spend $40,000 to watch football live or let that money ride in Mr. Market for 40 years and have $2 million in net worth?

Invest your money into you and your family instead of sports teams and their billionaire owners.

You heard it here first folks.

Celebrities and Money, Fictional characters Cartoons and Money, Financial Freedom, Financial Independence, Investing, Wealth

Why You Should Always Trust But Verify

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Trust, Faith, Encouragement, Trust

“All the world is made of faith, and trust, and pixie dust.”
― J.M. Barrie, Peter Pan

Trust is a five-letter word. A word that is small in size, but whose meaning is of monumental importance.

Today on Greenbacks Magnet we are spilling the tea and reading the tea leaves on the topic of personal finance.

Somewhat like Jalen and Jacoby do on their podcast.

This is a no-holds barred conversation about getting your fiscal house in order.

If I had a podcast right now, I have several friends or family members that could be my partner on this magic carpet ride. Aladdin had Princess Jasmine. Jordan had Scottie Pippen. Keenan had Kel. Barack has Michelle. Oprah has Gayle. Key had Peele. Batman has Robin. Kermit the Frog has Miss Piggy. Jalen has Jacoby.

Having a partner just makes things more fun.

I ask my significant other all the time, “Are you gonna back me up?! Are you gonna be the pip to my Gladys?!” I need people with good character that I can trust around me.

Image result for gladys knight and the pips GIF"

It’s like my man Shakespeare says, “Love all, trust a few, do wrong to none.” ― William Shakespeare, All’s Well That Ends Well

Trusting people with your money comes with huge financial risks! And I notice it is more risk than reward. You have to be on top of things when it comes to your money.

So today, I am going to give you some real stories of private conversations I have been in, eavesdropped on, and stood witness to in hopes it might help you more easily navigate these hostile fiscal waters out here in these mean streets.

I’m doing it Jalen Rose and David Jacoby style for those of you ESPN fans out there, you know what I’m talking about.

I want you to trust my advice, and me but I also want you to verify it.

Image result for trust but verify gif"

Let’s get started and dive right in.

In the spirit of Jalen and Jacoby:

Got to give the people…

Give the people what?

What they want!

What do they want?

Current events! They want you to spit that hot fire!

And in this blogs case FIRE is Financial Independence, Retire Early!

TRUST, BUT VERIFY

That is a famous quote uttered by former President Ronald Reagan during the Cold War.

He was a former Hollywood actor turned politician, which was unheard of at the time in 1981. My how times have changed.

Reagan also gave us Reaganomics, also known as Voodoo Economics, it works as crazy as it sounds. Voodoo (magic) is French in origin and hails from Louisiana around the 1700’s, which is before the Louisiana Purchase between the United States and France, negotiated by President Thomas Jefferson and Napoleon in 1803.

Therefore, the term Voodoo Economics simply means magic economics or finances (magic money).

There goes that Peter Pan quote I put at the top circling back to us as magic money is like pixie dust! It just doesn’t exist! In my mind, this is like creating money or great finances out of thin air.

Image result for tinkerbell wand gif"

It’s kind of how 50 Cent said he owed $8 million worth of Bitcoin when he owed nothing and created $8 million of wealth for himself in the eyes of his followers on Instagram because we are all just, and I roll my eyes as I type this, “living for the Gram.” I discuss fifty and the Gram on this post.

According to Psychologytoday.com, Reaganomics is this in that “the simple answer: when the outcome is essential and matters more than the relationship, use “trust, but verify.” When the relationship matters more than any single outcome, don’t use it.” Basically, if you are unsure of how to proceed in making a decision where the outcome can be life-changing, then do your research to uncover the facts before saying yes.

In my opinion, that means reviewing credit reports before walking down the aisle.

Image result for walking down the aisle gif"

Why should I commit to someone with four felonies, two bankruptcies, a property lien and $50,000 of back taxes owed to the IRS without knowing what I am getting myself into. You would be surprised what you uncover with a simple credit report.

A woman has a right to say no or change her mind about marriage all the way until the time she is in front of the minister. It’s cool to trust your partner when they say they paid off that Neiman Marcus credit card, but request that copy of the credit report baby to verify.

WHAT IS REAGANOMICS?

Image result for voodoo economics gif"

Reaganomics, or Reaganism, refers to the economic policies promoted by U.S. President Ronald Reagan during the 1980s.

The economic policies of the former US president Ronald Reagan, associated especially with the reduction of taxes and the promotion of unrestricted free-market activity. “the claim that cutting taxes generates more revenue was a key element of Reaganomics”

When looking up Voodoo Economics this pops up in the search: an economic policy perceived as being unrealistic and ill-advised, in particular a policy of maintaining or increasing levels of public spending while reducing taxation. “as governor, he put into practice the same voodoo economics that he would later impose on the country as president”

I will give it to you in layman’s terms, give more to the rich and their gains of money and benefits should also find it’s way down to everyone else.

It’s the reverse of Robinhood’s theory of taking from the rich and giving to the poor, by instead giving to the rich. There you have it. I just gave you the premise of Trickle-down Economics.

Image result for robin hood coin gif"

WHAT IS TRICKLE-DOWN ECONOMICS?

Great question. Trickle-down economics, also called trickle-down theory, refers to the economic proposition that taxes on businesses and the wealthy in society should be reduced as a means to stimulate business investment in the short term and benefit society at large in the long term. 

According to thebalance.com writer Kimberly Amadeo, Trickle–down economics is a theory that claims benefits for the wealthy trickle down to everyone else. These benefits are tax cuts on businesses, high-income earners, capital gains, and dividends. … All of this expansion will trickle down to workers. 

I don’t know about that.

When I look to my left on the West Coast, I see massive homelessness.

When I look to my right on the East Coast, I see wage stagnation.

Taxes got cut, but people are in even more debt. When the top 10% of the richest American households own 84% of the stock market wealth in the country something is terribly askew.

I call gentle bullshit on all this record stock market gains that is causing the country to grow wealth for all.

It seems more that instead of lifting all boats to prosperity for 99% of the population, stocks are lifting a few yachts of the 1%.

In the illustrious words of Sheldon Cooper, pardon me, I mean Dr. Cooper, this is a bunch of hokum. I mean the term even has the word trick in it. Hello?

WHEN IN ROME, TAKE OUT MORE DEBT

I have seen stuff you would not believe people have done when it comes to their money.

I saw a couple of government workers deciding to take on an $800,000 mortgage. Don’t ask me why. After 30 years of payments, they will have paid $1.6 million for a pile of bricks they are never at because they are always at work. Then the husband loses his job and they lose the house!

If you do not have $1.6 million in retirement or other assets, then you cannot afford or should not buy a home for three-quarters of a million.

Since, many college students see their friends take out loans to fund spring break trips they feel they are entitled to do it too! I actually knew someone who got a boob job and paid off a car with a student loan refund.

I hear tons of people say they are never going to retire, can’t afford college, and will work forever but no one wants to downsize their $400,000 mortgage. If they want it, they get it. How you ask? Do what the neighbors did and take out a HELOC.

A FLY ON THE FISCAL WALL

I’m about to spill that tea so don’t blink or you might miss it!

Overheard around an office watercooler.

“I owe $100,000 in back property taxes to the IRS.”

Overheard at the nail salon.

“I bought a $700 Gucci belt.”

Heard it from a friend.

“My daughter wants a pair of Gucci boots.”

Come on now. I have said it before. The only teenager that deserves a pair of Gucci boots is on stage with her two friends Kelly and Michelle.

Image result for destinys child gif"

A grandmother recounting her money woes to me.

“I am in $25,000 worth of credit card debt. I am on a fixed income. My granddaughter was supposed to use my credit card for a one-time charge to pay her auto insurance when she got a new car and then I found out she never stopped it and I paid for the whole year! When I asked her for the money back she said she didn’t have it and then told me about all the bills she has.”

A male-exotic dancer told me, “I strip because I don’t make enough at my job to live on that.”

The guy who can’t pay his child support who owns a Range Rover and house is constantly in danger of foreclosure.

A beauty salon owner who confided in me. Her child support payment is $25 a month and the father keeps quitting his job so he don’t have to pay it! At the tender age of 25, she also decided to lease a beauty shop and buy a home. She said, “It’s like paying two mortgages.”

Another friend.

“I would rather struggle today and get my forever home, than buy a starter home and have a smaller home and have to move.”

A cousin.

“I can’t make too much or they will take me off Section 8 housing.”

Just FYI, many safety net programs do not allow you to make too much or have too much in savings or assets. If you have more than $2,000 in checking, you could lose all income assistance benefits and NEVER be able to get back on. Essentially, keeping the poor trapped in a cycle of poverty.

CHANGE THE MONEY GAME

There is a saying. Control your money; control your life. When you know how money works life is easy. When you don’t, life is hard.

I read every book I can get my hands on about finance. I have learned about taxes, insurance, stocks, real estate, and entrepreneurship.

Here are a couple books I have read that changed my money mindset.

Image result for automatic millionaire image"
Image result for SIMPLE PATH TO WEALTH"

Some things I have done to build wealth and start saving over $13,000 a year.

I stopped getting personal loans. It took me years to pay off a $20,000 personal loan. I took that $333 monthly payments and started saving money.

I once had a $448.65 car payment. I paid off the car and started investing that money.

I started studying the stock market.

I cut out buying clothes and all shopping and stared saving over $8,000 a year. I canceled subscriptions. Maybe Jillian Michaels may want to do the same as on her Instagram, cause you know we are all “living for the Gram,” she stated she would like to figure out how “like to get my American Express bill down.” 

I only spend on things I love and I cut spending mercilessly on the things I don’t.

I transferred over $84,000 out of multiple stock funds and placed my bet on one 500 index fund.

I write money milestones.

The goal is to be a 401(k) millionaire.

By investing over 25% of my income into things like the VFINX, VFIAX, or VTSAX, I can make this dream a reality.

Milestone number one was $100,000 in Mr. Market. I hit that marker and kept on climbing.

The money starts accumulating faster like a freaking avalanche once you have that first $100k. The next stop was $200,000.

Then I started making my way to a quarter million.

I estimated that once you hit $250,000, then you can get to millionaire status in 14.5 to 23.5 years with a 6% or above interest rate. And that is without adding another dime.

Once you get to one-quarter of a million, the other three-quarters are not too far behind.

If you could invest $20,000 a year including employer match, you could be a millionaire in 10 years with a 10% return with a principal investment start of $250,000.

That first $100,000 is your capital to a better future. It plants the seed money from which the rest of the harvest will grow.

DROPPING DIMES LIKE SCROOGE MCDUCK AND OTHER MONEY HINTS

Image result for ducktales intro gif"

Dropping dimes used to mean putting a dime in a payphone to connect with someone.

Now it is used more figuratively than literally as in giving some knowledge in this case.

The reason I invest most of my money in index funds is this piece of advice from Warren Buffet.  

He instructed the trustee in charge of his estate to invest 90 percent of his money into the S&P 500 for his wife after he dies.

Warren Buffet is worth $81 billion. Most of his wealth came after the age of 50. Buffet gained 99% of his wealth after 50. That 1% of his wealth took 50 years to build, the other $80 billion too like 25 years or less than half the time it took to get the first billion.

He had to create companies, invest, graduate from Columbia, start businesses, and save the excess for 50 years to create the other 99% of his wealth!

In farming, like 99% of the crop comes from just 2% of the seeds that survive. Every time you invest your money, you are sowing seeds for your future self.

Focus less on buying luxury and focus more on buying assets to pay for luxury. I even get inspired by fictional cartoon characters like Scrooge McDuck and his number one dime story.

In a book I read, they state three of their truths about money. She stated, “the Scarcity Mind- set taught me the three lessons that would eventually turn me into a millionaire:

Money is the most important thing in the world.
Money is worth sacrificing for.
Money is even worth bleeding for.

Well, until next time party people. I’m out.

Image result for tinkerbell wand gif"
Financial Freedom, Financial Independence, Real Estate

Rent Wars

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For Rent, Sign, Rental, Signboard

Happy New Year all you Greenbacks Magnets out there!

Hope the New Year is putting more money in your pocket than last year.

Let 2020, the year of perfect vision, be the year you see things more clearly and become more fiscally fit.

However, it was not long before news articles began to make me painfully aware of how income inequality affects our everyday lives.

Recently I read a frightening statistic.

The average American cannot afford to buy a home in 71% of the country. Average earners can’t buy property in 344 of 486 counties in America.

That just breaks my heart that so many people are locked out of the “American Dream.” I bought a home after the 2008-2009 financial crisis. There were homes popping up on discount all over the country. Now we are back up to gargantuan home prices again!

That means America is becoming a land of renters.

If necessary, you may have to do some geoarbitrage to afford to put a roof over your head without going broke paying rent.

What is geoarbitrage?

Geoarbitrage is an interesting concept, often closely related to the definition of lifestyle design.

Geography is location.

Arbitrage is different in that it is all about economics. In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices at which the unit is traded.

The two terms combined are a powerful combination.

They kind of remind me of Captain Planet.

For those of you who do not know or remember what that is, I will give you a short synopsis on Captain Planet: A cartoon about a group of kids that teach communities the importance of family (heart), recycling, and caring for the planet earth in all its splendor and recognizing its importance through its elements (earth, fire, wind, water). On the show when they combined their powers Captain Planet would be created and save the world from pollution.

Geoarbitrage combines the power of finances and location to optimize the two for extending the life of your money. It basically means relocating in order to take advantage of the lower costs of a city/country. There are different ways you can go about this.

However, the goal is to pay less than you can afford no matter where you decide to live. This way it ensures you are not spending more than you make.

Median home prices are $257,000 across the country. You would need to make $67,650 to afford to buy at that price point, but the median salary is around $57,000.

a screenshot of a cell phone
Source: U.S. Census Bureau

Renting isn’t much better. Come on San Francisco, $3,500 for rent is a mortgage payment!

Image result for average rent in the us"

Therefore, living in expensive places like Sydney, New York, Los Angeles, Singapore, London, Paris, Hong Kong, Osaka or Vancouver can break the housing budget big time.

expansive cities

We are about to go around the world today on the blog.

So watch out cause Greenbacks Magnet is going international! Let’s go!

First up, we are going to look at what it costs to be in the land Down Under: Australia.

You know the place. The place that gave us Crocodile Dundee and created one of the hands down most quoted scenes in movie history. “That’s not a knife. That’s a knife.”

According to realestate.com.au a one bedroom executive apartment is going for over $800,000!

187 Kent Street, Sydney, NSW 2000
$825,000 – $865,000
187 Kent Street, Sydney
1 Bed 1 Bath
Apartment

It’s mighty expensive to live in the land known for koalas, kangaroos, the outback and its sandy beaches.

When I did a search for homes that were for a maximum price of $500,000 or less, the website turned up no results! I got this message. We couldn’t find anything that quite matches your search. Son of a beach!

Now let’s do like Pauly Shore in the movie Encino Man and keep on cruising. Next stop, New York.

Manhattan is the prime real estate in the Empire State.

According to Zillow, this home on Central Park West is going for $1,250,000. That is with a price reduction! The estimated mortgage payment is $7,461; annually that would cost $89,532 USD.

Photos of 420 Central Park W # 5/6C, New York, NY 10025
$1,250,000
3 bd2 ba
1,100 sqft
Price cut: $145K (10/24)420 Central Park W # 5/6C, New York, NY 10025
For sale Zestimate®: $1,222,319
Est. payment: $7,461/mo Get pre-qualified

That’s after-tax dollars folks. The concrete jungle is just as pricey as the outback! Check out these prices in Manhattan. Can of coffee: $6.14 Average rent: $3,783 Price of a home: $1.36 million T-bone steak: $12.78 Trip to the beauty parlor: $68 Dozen eggs: $2.89 Notice home prices are over five times the median home price of $257,000! Wow!

Next stop, Hollywood. We are now in Los Angeles California. Known for its year-round warm weather and beaches, it’s the place where many movie stars call home.

According to Zillow, if you want the standard two bed, two bath home, then prepare to open up your checkbook. Couldn’t find too many homes with decent square footage that were less than about half a million. This home was over $600,000!

Property
$669,9003 bd3 ba1,340 sqft
3901 Walton Ave, Los Angeles, CA 90037
For saleZestimate®: $661,657
Est. payment:
$3,106/mo
Get pre-qualified

And that is small potatoes to many others I saw.

No wonder people are renting more and rents are skyrocketing. It’s a landlord’s market! There is no cap on rent so it just keeps on going up.

Rent is averaging 1% to 3% increases annually. That is keeping pace with inflation and the cost of living.

Buying a home may be what many people want to put down roots, but renting often is more affordable.

Renters are at war with their checkbook.

Trying to balance budgets on shoestring wages. Can’t afford to buy, can’t afford to rent. Catch-22 as housing a necessity!

Now we are crossing the Atlantic. Hold onto your wallets. I mean buckle up. Next stop, Singapore.

The crown goes to Singapore, as it is the most expensive city in the world. Properties were going for $50,000,000 on Sotheby’s! That’s right $50 million. So this place for $578,000 should be considered a bargain!

Even Realtor.com International knows that space is a premium in Singapore. Check out the first line in the description. Size is not everything but it certainly plays a crucial part in this new development from Sim Lian. Well said and well played to get these places sold. Size is indeed not everything.

Tampines St 11 , , District 18
USD $578,522 
SGD $781,000
Apartment
  2 Bed
  1 Bath
  581.00 sq ft

Next stop, London!

Now that Prince Harry and Duchess Meghan Markle and stepping away from royal duties to become *ahem* financially independent, I wonder if their UK estate, Frogmore Cottage, can go on the market as it recently underwent a $4.1 million renovation. It would be a shame to spend all that money and just let the house languish and sit unoccupied. But what do I know. Those are matters of the Crown and HRH Queen of England.

https://twitter.com/KarenCivil/status/1214985226155249664

Looking at homes in the London area of the UK, it seemed the ones with the most space started around $800,000 and went up into the millions!

Here is the home description: New to the market a stunning 4 bedroom semi detached family home. This property has been extended and modernised to a high specification. 29 ft main reception / leading to garden and 2 further reception rooms. Spacious modern kitchen and large utility. 4 double bedrooms all with en-suites and dressing room to master. South facing garden and of street parking for several cars.

Street parking for a home worth $1.27 million! Can I at least get a designated parking spot?!

USD $1,274,017 
GBP £975,000
London
4 Bed 4 Bath

Now we are going to take a trip to one of the fashion capitals of the world. Paris!

Yet again, I went with my standard 3 bedroom, 2 bathroom criteria and look what I found.

For this historic 199th century apartment, it will cost you USD $1,104,398 or EUR €995,000. Um, non, merci (no thank you).

paris, Île-de-France, Address available on request

Next stop, Hong Kong. If you are looking for a place in Hong Kong, China, it will cost you. A 300 sqft. home could cost you $900,000. Some people’s work cubicles or offices are bigger than this!

According to Christie’s international real estate, there are 556 Luxury Homes for Sale in Hong Kong. Place like park Rise, Bel Air on the Peak and Repulse Bay Road cost around $3,000,000.

Some of the pictures of the homes are magnificent, but out of range for average homebuyers.

Other for Sale at Park Rise Midlevels Central, Hong Kong
Hong Kong

Next up, Osaka. If you want to be where the action, expensive real estate, and big paychecks are in Japan, look no further than Osaka and Tokyo.

I found a beautiful apartment located in walking distance near a subway: Kitahama Station (1 min. walk) Osaka Municipal Subway Sakaisuji that cost ¥146,000,000 or $1,332,980 USD.

Osaka, Japan

I’m starting to see a pattern here across the globe of home prices in major cities costing on average $1,000,000.

And last but certainly not least, Vancouver BC.

According to the Vancouver Courier, Vancouver was ranked the most expensive Canadian city in the annual Mercer Cost of Living survey. Vancouver has the highest cost of living in Canada for expats.

According to Remax, This newly listed home located at 502 1571 W 57Th Avenue Vancouver, BC, will set you back $848,000. It is a 1 bedroom, 1 bathroom and only has 748 sqft. Can’t even get a 1,000 sqft of living space without spending $1 million. Canada is super expensive.

Vancouver, Canada
Estimated Mortgage Payment: $3846.78/mo 
1 bed|1 bath|748 sqft|condo
Date Listed: Thu, Jan 09, 2020
Property Tax: $1,930 (2019)

Our neighbors to the north charges a premium to set up shop in this town.

I prefer to invest my money in stocks and let that money grow large enough to pay for my living expenses.

Build your wealth first, and then buy luxury. Get paid. Invest in stocks like the S&P 500 index or VTSAX. Rinse and repeat. Do this until you earn enough in dividends and interest to pay for your lifestyle.

Then you can quit the rat race sooner rather than later.

Financial Freedom, Financial Independence, Investing, Retirement, Saving, Wealth

Nearly Half Of Americans Have $0 Invested in The Stock Market

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No Money, Poor, Money, No, Crisis

According to a study done by NYU economist Edward Wolff, 84% of stocks are owned by the richest 10% of American households.

Even more extreme than this is the fact that the top 1% hold 50% of all stocks in America. Meaning a teeny tiny amount of Americans own trillions of dollars, and a vast majority own nothing. That type of inequality is just sad.

So many Americans are locked out of a real wealth machine by not being invested in Mr. Market.

Who is Mr. Market?

The New York Stock Exchange (NYSE) is an American stock exchange on Wall Street in New York City. With a market cap of more than US$16 trillion, the NYSE is the world’s largest stock exchange, averaging US$169 billion in daily trading value in 2013.

That would mean the richest 1% own approximately $8 Trillion worth of stocks.

Sadly, only 52% of Americans were invested in stocks.

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GALLUP
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Let’s fast forward just five years.

According to Barron’s, the stock market is worth $30 Trillion as of 2018. You see that?! The stock market has almost doubled in size! This is tremendous.

In 2008, most portfolios lost half of their value. Now look at us today. The S&P has more than tripled since the Recession! A trillion here, a trillion there and boom we have almost double the assets we had in 2013, the same year LeBron won his second championship ring with the Miami Heat.

Therefore, as of last year the richest 1% now own $16 Trillion dollars of wealth in the stock market.

The richest 10% has a mind-boggling $25.2 Trillion in stock wealth! Each owing over $900,000 in stocks.

Keep in mind that the bottom 50% of the poorest households have virtually no wealth as many have $0 in savings and investments.

The U.S. stock market has been on fire as it returned 22% last year.

With a 220% increase over the last decade, that means the rich are getting richer.

You need to get a piece of that stock pie in the sky

Why is it so important that you invest in Mr. Market? It’s simple. Investing is how you beat inflation.

With inflation averaging 2-3% annually, you must find a way to out run it. Investing will help you do just that.

I do not want you to miss out on the next $8 Trillion the market may gain over the next decade or so. Don’t sit on the bench! Get out there and get in the game! Nothing ventured nothing gained.

Wealth building takes time.

It’s a long game. You may need a decade or more to build some significant assets.

Did you that know with an interest rate of 10% your money doubles every 7.2 years? It’s true. It is because of the rule of 72, which states that a certain amount of compound interest will dictate how much you can earn over time.

I feel like that scene in Oliver Twist when he asks for more. But instead of food, I want dividends! My advice t to you is to invest!!!

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Yes, give me some of that compound interest. It’s raining dividends and capital gains.

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The first $100,000 is the hardest!

No matter how much you earn, it will take time to grow your wealth to something much grander over time.

Even with a nice return, the majority of your first $100,000 will come from your savings. The higher amount you save, the faster you achieve this goal.

I cut back on everything to get to through this first hurtle on the wealth accumulation phase.

I skipped the movies, $7 lattes, fancy vacations, new cars, clothes, subscriptions services, and nights out on the town. Put that money to work. Don’t act rich, get rich!

I know some guys that want to be rich, but spend like the world is flat like Columbus said; so they think we are going to fall off the edge and it is all going to end tomorrow, so you gotta treat yourself!

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These poor souls decided to buy bottle service for a friends 45th birthday. The cost: $4,000! They split it between like four or five people.

Here is a little background on one of the fellas, let’s call him Scotty.

Scotty is still renting after being unable to afford to buy a home. Instead of banking his money for a down payment, he’s tossing around G’s more than Floyd Mayweather after signing a $100 million-dollar deal.

Sorry my man, hate to break it to you, but you ain’t “Money” Mayweather and don’t have his bank account.

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Forget that! I would rather be financially independent than act rich for a couple of hours.

And the ladies loved that he spent that $1,000 on that bottle service. But then you know what happened at the end of the night, when the lights came on? All the ladies left!

I guess it was all about the bottle service. That’s just money down the drain right there. Bad money decisions happen everyday.

Maybe it really is like Jamie Foxx said, “blame it on the alcohol.”

Regardless, I want you to put that money in Mr. Market and let it grow.

If you are worried about downturns, then hedge your bets by putting money into savings as well.

Since it usually takes about 10-16 months for the stock market to recover from a crash, keep that amount of money in your savings. This will let you ride out the storm.

The goals is to not have $0 in your bank account. Something is always better than nothing.

Now save up that first $3,000, go open up a Roth IRA with a discount brokerage firm and go get started.

Don’t have $3,000 just lying around? No problem. If you can spare $100 bucks?

If so, then you can use the Automatic Asset Builder that lets you invest for just $100 a month with places like T. Rowe Price or Charles Schwab.

Now let’s go get this money. No excuses! I just gave you all the information you needed to get started.

Happy investing! And may the odds be ever in your favor.

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Automobiles, Financial Freedom, Financial Independence, Retirement, Saving, Wealth

Are Luxury Cars Wolves In Sheep’s Clothing

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Wolf, Stand, Walk, The Moon, The Night

I recently came across this article The #1 Payment Killing Your Wealth by a personal finance contributor for Forbes.

Just one huge monthly payment could be killing your ability to build wealth. He hit the nail on the head with that statement.

I have first-hand experience with this one. I shared my experience on how I put like $200,000 in my retirement accounts just from paying off my $448.65 monthly car payment.

Cars are a financial suck for sure.

Draining your wealth faster than Julie Andrews could sang supercalifragilisticexpialidocious in Mary Poppins!

And it’s not just here on American soil.

I have seen news about families struggling to get from under sky-high monthly car payments across the pond as well.

Canadians and European car buyers are stuck in the rabbit hole of long term high monthly car payments

Car buyers in Canada are stretching out loans pushing damn near a decade!! Eight-year car loans drive sales and deepen Canadians’ debt problems.

The personal debt boom has economists shook about the UK economy. The Financial Times (FT) showed a correlation between increased personal borrowing and car ownership.

The FT is basically doing the math that consumers need to do before making any major purchases like a new car. It was noted that, “The quality of the car park has gone up.” Meaning if you walk down many British streets you are more likely to see expensive cars.

Back in the States, Americans are not only in debt but barely able to keep their heads above water as 7 Million Americans Are 90 Days Behind on Their Auto Loan Payments, which is just ridiculous!

That came straight from a report from the Federal Reserve Bank of New York stating Americans are unable to pay their bills.

Considering that the jobs report that recently came out stating job growth has surged by 266,000; it is missing key metrics in regards to whether or not families are staying above the poverty line.

If you are working multiple jobs and in line at the soup kitchen because you can not make ends meet, then something is seriously wrong.

For families that are employed, they have to get back and forth to work. Meaning a car is almost a necessity these days.

California Dreamin’ is better in a Mercedes-Benz than a Hyundai

The West Coast is infamous for its pricey luxury cars. Especially in places like California. Think Fast and the Furious.

Did you see Vin Diesel rolling around in a Prius?!!! Of course not.

Lift up the hood of any of those cars and you could find $100,000 worth of product.

As the F&F series progressed, the cars got more expensive not less!

Movies are prone to production inflation just as individuals are to lifestyle inflation.

For example, the 2014 Audi R8  featured in Furious 7 has a 4.2 coupe with manual transmission starts around $119,150 while the V10 model starts at $155,450, each including destination fees and a $3,000 gas-guzzler tax. Say what??!!!

And my favorite on the Fast & Furious list, the Lykan Hypersport, which was been unveiled at the 2013 Qatar Motor Show. W Motors will limit numbers of the car, which it heralds as “the first Arabian hypercar,” to just seven, each priced from US$3.4 million. What the heck will an oil change cost on this beast?!

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Lycan Hypersport
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Did the cast of The O.C. drive down to Tijuana (TJ as they called it) in a Kia? Absolutely not! Those young high rollers were riding around in high-quality luxury vehicles!

Places like San Diego and Silicon Valley do not have a mass public transit system the likes of the ones on the East Coast in New York or Washington DC metro. No sir. Those folks have to drive.

And if you have to drive everywhere from the In-And-Out Burger to CVS, then who wants to sit all day in traffic rolling around in a tiny Chevy Malibu.

You want the creature comforts you have at home on the road.

You are willing to buy all you can afford if you have to drive around every day in a car.

I understand why people are shelling out BIG BUCKS on the West Coast to drive Cadillac Escalade’s and BMW’s. Not only are they impressive driving machines, but comfortable too!

Automobile, Bmw, Bumper, Car, Headlamps
Pre-Owned, Cadillac Escalade, Front

Luxury cars have a price beyond just the pricetag

Prestige vehicle sales are driving borrowers bankrupt. If you have to put $500, $600, $700 or even $900 into one household bill on top of a mortgage, then you can drive yourself right into the poorhouse quite literally!

Let’s do a little math. If you save $500.00 per month, your savings may grow to $2,797,302.30 after 40 years. This includes a starting balance of $0.00 and a 10% annual rate of return.

Starting amount$0.00
Years40 years.
Additional contributions$500.00 per month
Rate of return10% compounded annually
Total amount you will have contributed$240,000.00
Total interest$2,557,302.30
Total at end of investment$2,797,302.30

That is a high price to pay just to have the BMW emblem on your steering wheel.

Bmw, Steering Wheel, Vehicle, Transport

A lifetime of luxury car ownership and payments can leave your savings tank on $0.

Don’t do it.

With more American retirement savings on life support or at $0, you can make sure this doesn’t become your fate.

Forget buying expensive fast cars. I’d rather you drive a paid off Honda and get rich slow.

Blogger Interviews, Financial Freedom, Financial Independence

Get Rich Using The Tortoise And Not The Hare Method: An Interview With Get Rich Slowly

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There are some stories in life that truly move and inspire you. To be an inspiring storyteller, is a gift.

However, all talent must be continually used and worked on if you are to turn talent into something great.

That is when you become a professional. What is a professional? Someone who is paid to do a job.

God gives talent. Work turns talent into genius. Anna Pavlova, Russian Prima Ballerina (1882-1931)

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I’ll share with you over time some stories real and fictional that have inspired me on this blog such as Oprah and Jay Leno.

Just to name a few stories, you know off the top of my head, the following:

  • Hearing about strangers helping strangers.
  • People paying it forward by becoming part of an organization as Denzel Washington and Steve McQueen did with their efforts with the Boys and Girls Club.
  • *Just FYI: The actor Steve McQueen grew up poor. The Boys and Girls Club gave him a clean and safe place to be in his youth. He paid it forward after he become a famous actor by asking movie studios to give him thousands of white t-shirts, socks, and personal hygiene products as part of his compensation package for starring in their films. He secretly turned around and donated all this material to the Boys and Girls Club to give out to the young men there. Just melts your heart doesn’t it.
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Steve McQueen also known as “The King of Cool”
  • How the Teenage Mutant Ninja Turtles always looked out for the little guy.
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TMNT film circa 1990
  • The friendship between Shaggy and Scooby-Doo. Those two they just warm my heart.
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Some of my favorite singers that have turned their talent into success are Whitney Houston, Pat Benatar and Toni Braxton.

One of the things I remember Ms. Braxton saying, “music is not about you just saying what you think, but how you make people feel.” Her music and voice have always made me feel good.

Seeing her up on that stage performing recently at the American Music Awards, reminded me of all the reasons I liked her; she has a gift for making you feel good with the words she sings that transcends whatever hard times you are going through in that moment. She makes you feel happy.

Toni Braxton performs onstage during the 2019 American Music Awards at Microsoft Theater on November 24, 2019, in Los Angeles, California. (Kevin Winter/Getty Images for dcp)

And speaking of people that inspire you with their words, I would like to introduce you today to someone who has not only done that for me, but for millions of people around the world through his writing on personal finance. The one and only Mr. JD Roth.

He has turned his passion and talent into success as a successful writer and blogger. I had the pleasure of meeting him in person.

He was kind enough to agree to this interview on Greenbacks Magnet (GBM).

Here at GBM we are all about rejecting buying brand new fresh off the factory floor made cars in order to become Financially Independent (FI).

We pull back the curtains and blow the top off the math, and not the Mercedes, behind how not buying new cars can make you rich.

GBM is the place where we like to get down and dirty into the math behind building wealth, but we keep the jokes clean. Our jokes here are like a Hallmark card, GBM cares enough to send the very best! Even my tweets are called Lipstick Confessions!!! haha 💋Smooches

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Below is just a taste of what GBM has to offer. This blog ages like fine wine; it only gets better with time. No topic is off limits!!! Not even French Fries!!

I’m like Space Ghost Coast to Coast. Booking celebrity guests for my audiences reading and fiscally literate pleasure.

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Fun Fact: The original pilot of Space Ghost C2C was produced in a closet, and the guest was Denzel Washington (second mention in this post cause Denzel is just everywhere). It was green-lit as a series on the Cartoon Network in 1994 and went on to huge success.

Therefore, if you are looking to start a podcast, let this be inspiration to know it is okay to start it on a shoestring budget and in your closet.

Let’s get down to the interview.

Topic du jour: The tortoise wins the get rich race every time. Who is the man behind the tortoise shell?

Subject: Men who talk money. How to Get Rich Slow?

GRS JD Roth: YES, I would be happy to do your interview.

Ladies and Gentlemen, please put your hands together for Mister JD Roth!!! The founder of Get Rich Slowly.

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ALLOW ME TO INTRODUCE MYSELF

GBM Miriam: It was great meeting JD Roth of Get Rich Slowly at FinCon 18 in Orlando.  I had seen his picture on the blog-sphere so many times that I knew who he was on sight. I tried to keep a calm and cool composure, but on the inside I was screaming, “IT’S JD ROTH!!!!!” Over and over in my head.

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Imagine my surprise when I got to ride shotgun with him on our way to a restaurant for a fellow bloggers birthday.

Here I am a total stranger and he was as cool as a cucumber. Totally down-to-earth and fun too. Check out one of his tweets. Hilarious!!!

You can check out more of this story on my post about my very first FinCon called FinCon The Recap from your Friendly Neighborhood Greenbacks Magnet Part I and Part II.

We are in the car with Liz of Chief Mom Officer, Military Dollar, and Erin of Reaching for FI. In a car full of women, he was totally cool driving while listening to Taylor Swift. Yes, I found out that JD is a T. Swift fan. I am too. It’s like john jacob jingleheimer schmidt up in here!!!

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Here is proof here!! I just so happen to think Taylor Swift is pretty awesome too! 😉 Great minds think alike. I literally just posted tweets on Taylor Swift and Lizzo last week. 😂👍

Let’s dive into the interview.

MEET JD ROTH

This is how it feels to meet JD.

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Yes, he was just that friendly and down-to-earth.

This is how I felt getting to interview JD. Over the moon and on top of the world. After three years of blogging, I made it. I’m still here. Anything is possible if you work hard enough for it. 😉So Grateful.

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JD STARTS A BLOG ABOUT GETTING RICH

1. What prompted you to start a blog about money? How much makes you feel rich? Would you say $500k, $1M, $2M, or more? 

I started Get Rich Slowly for three reasons. First, I wanted to document my own journey out of debt. Second, I thought maybe I could help other people learn to manage money as I improved my own financial skills. Finally, I hoped maybe I could make a few hundred bucks per month to supplement my income.

I had NO idea that starting Get Rich Slowly would change the trajectory of my life, financial and otherwise. It wasn’t even something I could have conceived at the time. Yet it changed everything.

How much makes me feel rich? That’s a great question. It doesn’t take much. I grew up poor. My family lived in a run-down trailer house in rural Oregon. My father was often out of work. Sometimes we had to take assistance from our church in order to get by. Today, I have far more money than my parents ever did. I feel very rich. But I don’t know what dollar amount leads to that…

GBM Miriam: Well ok. Thank you for your honesty. It is always appreciated. I fell into learning about money by accident. I was at my boyfriend’s place when I saw a Kiplinger magazine lying around. I just so happened to pick it up…

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2. Any favorite finance books? How come?

I’ve read and enjoyed many finance books, but my favorite books about money usually aren’t actually books about money. What I mean is that often the books that I believe will most help people with their finances aren’t financial books. They’re only tangentially related to finances.

For instance, I think The Seven Habits of Highly Successful People is probably one of the most helpful book anyone can read if they’re struggling to improve their finances. The ideas and philosophy it conveys are so valuable in developing a successful financial mindset.

GBM Miriam: One of my top favorites is The Millionaire Next Door. That and the one you named are some good reading. 👍

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3. What are you reading right now? What’s on your night stand?

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Haha. I always have several books going at once. Right now, I’m reading:

* Wake Up and Live! by Dorothea Brande

* House of Suns by Alistair Reynolds

* Y: The Last Man by Brian K. Vaughan

* Deep Work by Cal Newport

This “many books at once” habit kind of goes against the whole Deep Work philosophy… 

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4. One thing people may not know about you?

When I left for college in 1987, I thought I was going to be a religion major. My aim was to get a religion degree, then become a Christian missionary. I thought I’d ultimately end up as a church pastor.

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GBM Miriam: I did see you mention something about that on your blog. I put a link to that story in your response for readers to be transported there faster than Marty hitting 88 mph by clicking on college in 1987.

5. What’s in your wallet? How did you start building wealth?

These two questions don’t seem related.

I carry a minimalist wallet: https://www.tombihn.com/products/minimalist-wallets?variant=13762302378047

It contains my debit card, my business credit card, my personal credit card, my Apple card, maybe $40 cash, and my insurance info (health and vehicle). That’s it.

I started building wealth through a two-pronged attack. First, I reduced how much I was spending. Second, I worked to build my income. Basically, I did my best to work both sides of the wealth equation (income and spending) in an attempt to grow my saving rate as high as possible.

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GBM Miriam: Awesome. I started by saving $1 a day. Then gradually started increasing my savings and investing rates from 5% to over 40% of my income over like 10 years. I cut out buying crap and clothes to bank that money for my future baby!!

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Well said. So that’s what I did. Unlike that episode of King Meets Queens, when Carrie buys thousands of dollars worth of expensive clothes, keeps the tags on them to return them for a refund (get this because she could afford them *ahem* $2,000 Chanel suits) and said this to her husband…

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If this sounds like you, please stop reading THIS and go read the Get Rich Slowly archives right now! If you want to get rich, cut the excuses and get fiscally educated!!!

If you are truly fiscally clumsy, then try the lazy method of investing. I would use Swensen’s model that he crafted for Yale University. With over $27 billion dollars under management, the Yale endowment is the second largest college endowment in the world (Harvard is #1). Just watch the video. Now you and Rory Gilmore will have something in common.

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And if this is too much, just park your investments into a total stock market fund like the Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) or Vanguard Total Stock Market ETF (VTI).

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BONUS ROUND

Bonus Questions (pick any of the questions from the top or below that you want to answer) 

6. Any life or money lessons from a favorite movie or TV show you would like to share?

I’m partial to Mr. Roger’s philosophy of loving others and encouraging others to love. He believed in accepting people for who they were, regardless of who they were. I subscribe to that ideal too.

GBM Miriam: Good stuff. I ❤ Mr. Rogers I wanted to take a ride on that train soooo bad! It looked like so much fun.

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7. If you found a lottery ticket that ends up winning $1.5 million. What would you do?

I would buy new cars for me and my girlfriend. I’d get her a Tesla Model 3. I’d buy myself a Mini Cooper — the electric model, if it ever gets released. I’d stick the rest of the money in the bank.

GBM Miriam: A mini Cooper eh? I can dig it.

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But that Tesla looks sexy.

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And love those falcon wing doors.

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Car Magazine UK Tesla photo
Tesla Model X doors


8. Who is your favorite X-men,  Justice League, Avengers or comic book character? Why?

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I’ve always been partial to nerds from the Marvel universe, characters like Cyclops from the X-Men or Mr. Fantastic from the Fantastic Four.

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GBM Miriam: You are probably wondering why I asked this question. Beside being a huge cartoon and Mavel fan, I actually named this blog after a Marvel comic book character; Magneto. 😉

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Just FYI: We skipped a few numbers and moved on to question 11.

11. If both a taxi and a limo were priced the exact same, which one would you choose?

Neither. I would probably walk, if I could.

GBM Miriam: Yeah, that’s me. I love to walk. I’m like Elizabeth Bennett in Jane Austen’s Pride and Prejudice.

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12. What song or songs best describes your work ethic?

“Don’t Worry, Be Happy” 🙂

13. What would you do if you just inherited a pizzeria from your uncle?

I would sell it, if it were profitable. Hell, I’d sell it even if it weren’t profitable. That sounds like too much work!

GBM Miriam: You may be right. I know it’s just a cartoon but they worked the crap out of Doyle in that pizza place in Galaxy High!! 🤣

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14. What was your best MacGyver moment?

This question is so NOT me. I’m not a MacGyver type. That said, my best MacGyver moment was probably installing a new tape deck in the 1993 Toyota pickup I bought last January. Admittedly, I had instructions for this project, but it was still pretty MacGyver-y for me. Now I can listen to cassette tapes as my dog and I cruise around Portland. 😉

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15. If I gave you $40,000 to start a business, what would you start?

I know the answer to this! I’d start a blog. In fact, I’ve spent a similar amount to launch blogs in the past — and they’ve become businesses.

GBM Miriam: Why am I not surprised. 😆 I love blogging too.

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How I feel about blogging: “Tonight, darling, we are going to right a lot of wrongs. And we are going to wrong some rights. The first shall be last; the last shall be first; the meek shall do some earth-inheriting.” -Margo Roth Spiegelman, Paper Towns by John Green

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Cara Delevingne as Margo Roth Spiegelman in Paper Towns
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16. If you had $2,000, how would you double it in 24 hours?

Hm. I’m not sure. There’s no reliable way to do this, of course. My inclination would be to pick a game of pure chance, such as roulette, then to make a single bet that would either double the money or lose it in one go. Using that roulette example, if I bet all $2000 on, say, even numbers or odd numbers, I’d have about a 48% chance of doubling my money and a 52% chance of losing it all.

Really, though, there’s no sure way to do this.

GBM Miriam: That’s JD. He always gives it t you straight and keeps it 💯just how we like it.

For example, he just put this out there for our fiscal viewing. Check out his post on Our first annual family meeting. Bringing people and finances together. As a financial blogger, that just melts my heart ❤right there.

Notes for family meeting

THE END

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GBM Miriam: Thank you JD!!! It was an absolute dream come true and a pleasure to have you stop by Greenbacks Magnet.

It was my honor to be your host this evening. See you at FinCon 2020. The year of perfect vision!!! Until we meet again!!! I bid you farewell.

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Want more fiscal nuggets of wisdom, from the JD Roth?

Find him on his website and connect with him on Twitter at @getrichslowly.