The question we get asked most often is ‘how do I get income from my retirement accounts into my checking account when I retire’? Most people understand the 4% rule, but few ask how investments pay the bills.
The reason is likely because phrases like withdrawal and drawdown strategy are not very sexy. Well, this isn’t going to be sexy. But it will be short and to the point.
The second most popular question is, ‘what about penalties if I retire before 59.5’? That will have to wait until next week!
Tonight we have a special guest, Jim Collins, who is going to talk to us about why he thinks your house might be a bad investment. Topics will include rent vs. buy analysis, opportunity cost, and a few psychological factors you may not have considered.
Be sure to bring all of your questions about renting vs. buying your home, or any other questions you have for the Q&A.
Jim Collins is being our guest this Tuesday, January 27th at 8:30PM EST on our LIVE show. We are going to talk about whether you should rent or buy your home. Don’t miss it!
Be sure to check out Jim’s blog:
https://jlcollinsnh.com/
And also his blog post about the rent vs. buy debate:
It’s ALIVE!!! I finally got my DIY automatic chicken coop door working, and temporarily installed. I used a power antenna motor to drive the door on cabinet drawer slides. The whole unit is solar powered by a 12 volt battery.
I used a DC timer and DPDT relay to trigger the opening and closing of the door. In the video, I put all of the components in a nice plastic enclosure that hides most of the wires.
It worked perfectly, closing at sunset and opening at sunrise!
Here’s a link to the wiring diagram:?https://goo.gl/hGL0GZ
When we stopped drinking soda 5 years ago, we wanted to make seltzer water at home. This was before the SodaStream was popular, so I made my own carbonated water maker that connected a co2 tank to a 2 liter bottle.
When we moved back to florida, we never bought another co2 tank, but we dreamed about having club soda on tap. Today we made that dream a reality. We bought a used soda fountain carbonator and installed it under our sink. Now we have unlimited seltzer water whenever we want!
Tonight we’re going to talk about the thin line between entitlement and opportunity. Do we all deserve to do what we love? Why does our generation expect to have everything our parents had the moment they graduate college?
Part 2 in my experiment building a fully automatic chicken coop door. Although it seems like nothing got accomplished, figuring out the DPDT relay was a big step forward. Now all I need is a working light sensor or timer.
I should have everything working properly and installed next week. If you have any ideas as to why it kept opening and closing intermittently, please let me know in the comments.
When people ask “how much I need to retire comfortably”, most of the time they imagine traveling the world, staying in fancy hotels and golfing at the most luxurious resorts.
The question we’re asking is, are you willing to trade your freedom for that level of comfort?
Rather than save 1-5 million dollars for a “comfortable retirement” we are shooting for financial freedom. From there we can decide what truly makes us happy instead of trading the next 50 years for a a little luxury.
1. Grandma wanted to add that people without jobs during the Great Depression (like her dad) had a tough time receiving handouts. They felt that?since they didn’t earn them through work, they didn’t deserve it.
She then explained it was recommended that she go on welfare when she was raising the kids alone, but she wanted to go back to work instead.
2. She wanted to stress how a strong work ethic is important for your well being, health, and self worth.
3. Try to be independent and not rely on others to do what you can do for yourself.
4. Most importantly she relied on her faith heavily to?help her through good and bad?times.
5. Someone asked how smoking had effected her health. She said that she smoked about a pack per week, because that’s all she could afford. What I didn’t know is that she quit because my dad asked her to stop when he was young. She said she would quit if he would never start. They both kept their promise.
As for long term effects, five years ago she was told she has the beginning stages of Chronic Obstructive Pulmonary Disease (COPD), presumably from smoking. She didn’t mention if this has affected her quality of life.
Mike’s 87 year old grandma is on the show tonight to talk about life during and after the Great Depression. Topics include quality of life, frugal habits, and tips for longevity.
Be sure to tune in LIVE January 13th at 8:30PM EST.
A quick video about microwave oven transformers (MOT) and how I plan to salvage one to make a DIY spot welder and electromagnet.
This is the introduction to a new series about the electric bike I’m converting to run on a homemade lithium-ion battery pack made from old laptop batteries (18650 cells).
