Multiple companies, such as Tesla, Coinbase and Redfin, are announcing layoffs. Some companies have rescinded previously made offers (Coinbase again! also Twitter), while some are decreasing hiring (Netflix, Peloton, Facebook). You also can’t visit any news site without seeing a post on crypto winter, which impacts not just crypto values but also the job market at crypto firms. At the same time, we’re facing the highest inflation rate in recent memory. My favorite retirement calculator is courtesy of Financial Mentor, and one of the variables you can model is inflation rate. Try it for yourself, and you’ll see that an [...]
In my very first job post-college, I worked as a management consultant. This involved working onsite at clients around the US, and for one project, in Toronto Canada. I spent March/ April 1995 in Toronto, and while I was working too long hours to enjoy the city, I remember liking Toronto very much. Fast forward 27 years later, and we were back in Toronto for a quick overnight. The trip was really for a family obligation, not a weekend away for us, so it was short and efficient. Most of the trip was spent on the road with just under [...]
On a recent road trip from Florida to New York, we had rain the whole way, and as we drove north, we hit colder temperatures, more wind, then sleet and sometimes even snow! The week before our trip, we had an internet outage in our service area, exactly at the time I was presenting a training webinar, Scott had a client meeting and our oldest happened to be at our place, working her job remotely. All three of us work part-time hours and yet the internet goes out while we all are working! The week before that, we had two [...]
The two most influential teachers in my financial literacy journey were also my piano teachers. My first financial literacy teacher was my first piano teacher and also my mom. Many people probably learned about money from their parents. My mom didn’t talk about money management or investing directly, but I learned by watching. My parents separated right after I was born, so my mom raised two kids on a single income in New York City – that feat requires some high-level financial gymnastics! My other financial literacy/ piano teacher was my teacher in college. I did a joint program with [...]
Last month we closed on the sale of Casa Salita, the second property we purchased in Costa Rica. Though we bought it only in December 2017 (just over four years ago), we started thinking about selling it in the midst of the pandemic because we weren’t sure where rentals were heading, and the market for selling Costa Rica real estate was hot. However, we didn’t put the home on the market because we expected a complex transaction. Real estate transaction costs are high. A large property like Casa Salita – four bedrooms, double lot – could take a while to [...]
Writing has been a gamechanger for establishing and growing my consulting business (consulting is an excellent career or side hustle to jumpstart your FIRE fund!). When you’re published, people see you as an authority in your field. If you’re new, it’s a way to get established. If you’re pivoting, getting published on different topics can give you traction in a new target area. Of course, writing itself can be monetized – either by monetizing your blog with sponsors and/or ads or turning your blog into a book and collecting an advance and/or royalties. When I first started coaching on careers, [...]
One of the fun perks of writing for a well-known publication like Forbes is that I wind up on PR lists and hear about leading-edge developments early. Recently, I was invited to a webinar with a LinkedIn product director to promote the new Career Breaks feature. With this feature, instead of just posting an employment gap of months or years (and employers don’t like gaps), you can choose the Career Break category and then specifically select the reason for the time off (e.g., caregiving, gap year or another of the 13 reasons currently listed). FIRE isn’t in the drop down [...]
Generational wealth for my kids, their kids and beyond is a key priority for the same reason I also prioritized financial independence – as a hedge against an increasingly difficult job market. It’s not that I don’t expect my kids to work. I just don’t want them to get stuck if AI reduces job prospects considerably, or if future careers (and therefore earning potential) are even shorter than careers are now. FI ensured I had options, and generational wealth ensures my kids will, too. In the last few years, there have been several life changes that have made me more [...]
It's early February, but I'm still keeping up with the 300-day good habit-building program I joined as my 2022 personal development focus. (It’s called Optimize, and they have a lot of free resources and a new app coming soon). Depending on which statistic you believe, most people get derailed from their new year’s resolutions as early as January or February! If you’ve already fallen off track or are feeling momentum waning, here are 7 tips to get moving on your goals again: 1 - Shorten your timeframe I dedicated an entire previous post to Miho Kubagawa’s tip on making 12 [...]
At the end of each year, I pre-fill my Time Diary for the upcoming year with activities I know I will be doing. This includes three entries for checking my credit report. I make three entries because I check each of the three major credit bureaus (Experian, Equifax and Transunion), and I separate when I check each of them by four months. Why four months? You can check your credit report for free once each year* (go to AnnualCreditReport.com to get your free credit report from any of the three bureaus). By spreading out the use of my free reports [...]
