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If you choose to pursue financial independence and an early retirement, you will need to reject many of the popular, preconceived mindsets and behaviors that you’ve been taught about your relationship with money. Over the past two decades, the average age at retirement has been increasing. Studies predict the average age of retirement for Millennials may reach 75 due to the growing costs of rent

My blog just celebrated its first birthday.  The Financial Journeyman was launched on April 8, 2017.  Time sure does go by quickly when you are having fun and interacting with great people. When I launched this blog, I had very low expectations.  My expectations were low because I never created a blog before.  After I decided to create this blog, I did some research on how other blogs performed

No, that is not a rhetorical question.  I was having lunch the other day with my co-worker Jill.  Jill is an exceptional young woman.  Jill’s parents divorced when she was young, so she grew up in a broken home.  That did not stand in the way of her excelling in school.  She went on to earn a BA in Psychology from one of the best state universities in the country.  She

Your Money or Your Life is a classic personal finance book.  Vicki Robin and the late Joe Dominguez wrote this book in 1992.  Your Money or Your Life is not the first personal finance book.  It was, however, one of the first personal finance books that started to explore the topic of

Many people dream of reaching early retirement.  Few people, however, are willing to do what it takes to make it a reality.  In most cases, to reach early retirement, a person must live differently from how the masses live.  People generally don’t want to be viewed as being different from their fellows. The masses are living for the day, spending most of what they earn, landing

We start competing the moment we are born.  Competition is everywhere.  Completion is natural.  It is the cycle of life.  Eat or be eaten.  We must compete every day.  Only the strong survive. When I was a boy, our dog had a litter of puppies.  They too were competing from their earliest days.  They would compete to get to the bottom of their basket to

It is common to read about how young people are not saving enough for retirement.  While it is always better to start early, they still have many decades to correct their financial mishaps.  The real concern is for people who are age 50 or older and do not have enough saved to support their current standard of living in retirement.  What could this population do to

In the world of personal finance, having an emergency fund always seems to be a popular topic.  The reason for that is that it is important to have cash on hand.  You never know when you will need to access cash due to an emergency.  When it comes to the topic of having an emergency fund, there are many different schools of thought about why you need cash

Have you ever considered separating the money that you plan on drawing down during your retirement based on the phases of your retirement?  A common approach is to allocate different piles of money in separate buckets based on when you plan on using the money.  The Bucket Approach was made popular by Raymond J. Lucia, CFP as the result of his book

Over the years, I have heard people compare investing to gambling.  It normally occurs during periods when the stock market is experiencing negative returns. People will make comments comparing investing in stocks to casino gaming.  Those who market alternative investment products will use heavy rhetoric and refer to conventional investments as the Wall Street Casino. There are a few similarities between investing and gambling.  Investing and gambling both require