Monthly Archives: December 2011


Expenses that need to be Considered When Investing in your First Property

Investing in a property for the first time is a really exciting occasion. As well as all of the excitement of getting your own house or apartment, though, you also need to think about the practicalities of buying somewhere for yourself. For instance, what about the expenses of owning a property? Read on to find out more. Mortgage If you are buying a property, unless you are able to buy it outright, you’ll more than likely have to pay a mortgage. For most people, this is their biggest monthly expenditure so you need to make sure you’ve taken it into consideration in [...]

By |2014-07-15T12:14:19-04:00December 17th, 2011|Investments|9 Comments

Buying an Asset with a Mortgage or Debt Doesn’t Necessarily Change your Net Worth

I got into an interesting conversation with a commenter the other day on another blog and it made me realize that there are some people out there who don't actually understand some of the basics of Personal Finance. I don't talk about the basics to often on My Journey to Millions, because quite frankly, how hard is it to understand spend less than you earn? However, this conversation (and subsequently wanting to throw my computer out the window) inspired me to write a post about about a twist some may not understand in the basic balance sheet/net worth statement. A little background [...]

By |2013-09-26T14:57:17-04:00December 16th, 2011|Personal Finance|18 Comments

Why Corey Doesn’t Want To Become a Millionaire

Editor's Note:  I usually put an indication at the end of a post whether it is a guest post, however, considering the title I felt like notice should be moved up.  This was a guest post from Corey at Passive Income to Retire, where he tracks his progress to retire by the age of 27. In our society the middle class often aspire to become millionaires. Becoming a millionaire is often a sign of accomplishment. It is an indication of financially security. I know that I usually see it this way. Whether its my upbringing or society's influence on me, I think of [...]

By |2014-07-15T12:12:41-04:00December 15th, 2011|Qualified/Retirement|19 Comments

Early Extreme Retirement Loses Its Biggest Proponent

A little over a year ago I wrote about my problems with a personal finance trend commonly referred to as “Early Retirement Extreme.”  It still remains a pretty popular post with a few comments from the movement’s most popular proponent, Jacob Lund Fisker.  Within that post and the subsequent 50+ comments I laid out the basic premise that I enjoy a lot of the amenities involved in modern life and that I would much rather focus my efforts on figuring out ways to pay for those extras rather than altering my life to be able to live off of $7,000/yr.  I never [...]

By |2013-09-26T14:57:18-04:00December 14th, 2011|Qualified/Retirement|11 Comments

Calculating Possible Future Housing Expenses

The Wife and I have been giving serious thought to listing our house after the new year, and it was in the course of a recent discussion that The Wife told me she just wanted to know the "bottom line" in terms of future housing costs.  Her concern is that an upgrade to our current living situation will detrimentally affect our lives. Right now, The Wife gets to spend a lot of time with our boy all while we are saving more money each month than ever before, all while having a lifestyle that never has us questioning whether we can "afford" the little [...]

By |2012-10-31T14:45:24-04:00December 12th, 2011|Personal Finance|19 Comments