- The Ultimate Landlord Tip: Choose Your Tenants Wisely
Picking the right property is only the first step to becoming a successful landlord. Equally important, you need to choose your tenants wisely.
- Credit Card Tip: Don’t Help the Banks Get Richer
Stop letting credit card companies profit off of you by learning how they make money. Then, you will receive the benefits of using credit cards, not the banks.
- Top 10 Tips to Pay Off Debt for Lawyers and Professionals
If you make six figures and have bad debt, your income is not the issue. You need a plan. Here are 10 tips to pay off debt for lawyers and professionals.
- How to Make a Budget to Pay Off Debt in 3 Steps
If you have credit card debt, your number one money goal should be to get rid of it. To help you out, here’s exactly how to make a budget to pay off debt.
- Don’t Blame Your Income if You Are a Lawyer in Debt
If you’re a lawyer in debt, the problem is not your income. You make plenty of money. Here are three theories why lawyers are in debt and what to do about it.
- Don’t Buy a Cute Condo: Do This Instead to Create Wealth
Instead of buying a starter home, consider house hacking with a small multifamily property. Or, keep renting until you’re ready to buy a more permanent home.
- Spend Money Based on Your Wealth Not Your Income
Instead of spending money based on your income, spend money in line with your wealth. Income is temporary, even for high earners. Wealth is your foundation.
- Furloughs Show Why You Need Savings and Parachute Money
Furloughs remind us to focus on emergency savings and parachute money for multiple layers of protection in case our primary source of income dries up.
- A Reminder About the Intersection of Money and Life
Money is only a tool that we should all use to build memories and create stories. I recently had a good reminder of this intersection between life and money.
- Why Cash Back is Not the Best Value for Points
It’s tempting to redeem your travel credit card points for cash back. Don’t do it. Today, we’ll look at why it’s better to transfer points to travel partners.
- How Does Your Net Worth Compare to People Your Age?
By studying the net worth of people your age, including the Top 1%, you can learn if you’re on the right track or if you need to make adjustments.
- How Much Money Did You Actually Keep This Week?
When was the last time you really appreciated how much effort you put into making money? Shouldn’t you actually keep a lot of that money?
- Are You Making Progress on Your 2025 Money Goals?
Don’t wait until the end of the year to revisit your money goals. Now is the perfect time to check your progress to ensure you hit your mark.
- Credit Card Tips: Commit to One Big Airline Transfer Partner
In the world of premium credit card reward points, you’ll typically get the best value if you commit to a single airline transfer partner.
- Refinance Now or Wait for Mortgage Rates to Drop?
With the Fed cutting rates for the first time this year, is now the right time to refinance? Here’s how I’m thinking about it, and why I’m going to wait.
- Your Saving Rate is the One Thing You Can Truly Control
To achieve financial freedom, the most important factor within your control is your saving rate. Stop chasing investment returns and focus on your saving rate.
- How to Use the Sapphire Reserve for Free Flights
I can’t remember the last time I paid for a flight. Instead, I use my Chase Sapphire Reserve points. The money I’ve saved helps me stay on budget.
- Should You Invest in Chicago Real Estate Right Now?
You should base your decision on where to buy real estate on the available data, common sense, and your personal experiences. That’s why I invest in Chicago.
- Don’t Give Up When Being a Landlord Feels Heavy
Don’t give up on your rental property dreams when the job of being a landlord starts to feel too heavy. We’ve all been there. The upside is still worth it.
- Did You Win the $1.787 Billion Powerball Jackpot!?
Didn’t win the jackpot? You should still take this chance to think about what you would do with a major windfall so you’re prepared when the time comes.
- Financial Independence is Not About a Life of Deprivation
There is way more to financial independence than cutting costs and living frugally. I view FI as creating options to get more of what I want in life, not less.
- When Money is Tight, Think Even More About The Future
When money is tight, that’s the best time to think about your future self. Use those challenging periods as motivation to make hard spending decisions today.
- How to Use Two Simple Metrics to Compare Investments
With these two simple metrics, you can compare investments across asset classes to help you determine the best way to put your hard-earned money to work.
- How to Think About Investing in Both RE and the Stock Market
Real estate is my favorite asset class, but I still regularly invest in stocks. Each asset class is a way to create Parachute Money to protect my family.
- Coast FIRE Will Help You Realize When Enough is Enough
Coast FIRE can help you know when enough is enough. Instead of chasing money for retirement, you can pivot to a life now that better matches your interests.
- How to Gain Confidence by Calculating Your Coast FIRE Number
Gain confidence in your progress towards retirement by calculating your Coast FIRE number. You may be pleasantly surprised by this powerful money mindset hack.
- Why Coast FIRE is a Powerful Money Mindset Hack
When you achieve Coast FIRE, retirement planning is no longer an issue. That means you have options to pivot to a job that better fits your life goals.
- Shrink Your Magic Retirement Number With One Rental Property
Adding just one rental property to your investment portfolio can massively shrink your magic retirement number and accelerate your journey to financial freedom.
- Is the 4% Rule Actually More Like the 4.7% Rule?
Bill Bengen, creator of the 4% Rule, just released a new book with some fun news: it’s safe to increase your withdrawal rate in retirement from 4% to 4.7%.
- Capital One Settlement: A Reminder to Evaluate Your Bank
The recent Capital One class action settlement is a reminder to always evaluate your banking relationships to ensure your bank is still a good fit for you.
- Stop Feeling Guilty and Annoyed About Spending Money
Regardless of how much money we make, we can all feel guilty and annoyed with our spending choices. That’s where my budgeting tips can help.
- Debt is Really Annoying When you Want to Buy Fun Things
Debt can be really annoying when you want to buy fun things. But, it’s important to stay disciplined while on your journey to financial freedom.
- The Best Ways to Come Up with a Rental Property Down Payment
Here are my best tips for coming up with the down payment for a rental property, which is the biggest impediment to investing for lawyers and professionals.
- Dreaming About Rental Properties but Ignoring Money Mindset?
To come up with the money to buy rental properties, start with revisiting your money mindset and the key personal finance fundamentals.
- How to Analyze a Property When the Initial Math Looks Bad
Most rental properties are not going to immediately look like great investments. Don’t give up. It’s our job as investors to negotiate and look for potential.
- How to Easily Evaluate a Rental Property with Real Numbers
Running the numbers on potential real estate deals should be easy. Here is an example of how I recently evaluated a rental property for sale in Chicago.
- Running the Numbers on RE Deals Should be Easy
Running the numbers on a rental property does not have to be hard. Account for the fixed costs and make informed predictions for the speculative costs.
- Does Being Good with Money Make You a Greedy Dragon?
Being good with money does not make you a greedy dragon. When you’re good with money, you can build a meaningful life of experiences with your family.
- Being Good with Money is About Consistent Choices
Being good with money takes consistent choices. Too many of us give up on our money goals just as we’re getting started. That’s why talking about money helps.
- Stop Fearing Toilets with a Good Handyman on Your RE Team
You don’t need to be scared of leaky toilets when you have a good handyman on your RE team. You’ll also learn that you don’t need to be handy to be a landlord.
- Be Sure to Have an Experienced Accountant on your RE Team
Don’t underestimate the importance of having an experienced accountant on your real estate team. Without one, you’ll lose out on massive tax benefits.
- How to Evaluate a Great Mortgage Broker for your RE Team
A great mortgage broker is an essential part of your RE team. I like to think of a great mortgage broker as an experienced and trusted vacation tour guide.
- Build Out Your RE Team Starting with a Five-Star Broker
Start building your RE team by finding a great broker. Your broker is like a five-star hotel concierge who can make your entire experience so much better.
- Money Questions: How to Handle the New Student Loan Changes?
Whether it’s changes to federal student loans or any other recent developments, I encourage you to plan accordingly and take ownership of your money decisions.
- Your Spouse is the Most Important Person on Your RE Team
The most important person on your real estate team is your spouse. Make sure you each understand the financial, time, and emotional commitments involved.
- Fix Your Personal Finances Before Investing in Real Estate
Before investing in rental properties, focus on your personal finances. If you can’t manage your own money, how are you going to run a business?
- Use Common Sense to Help Identify Good Rental Properties
Before running the numbers, use common sense and your own life experiences to develop a list of attractive features for rental properties in your market.
- Why do You Really Want to Own Rental Properties?
Before buying a rental property, think and talk about why you want to do it. Your “Why” is a crucial first step in developing a successful strategy.
- Do Not Invest in Real Estate if You Want Passive Income
Owning rental properties is not a way to earn passive income. Think of it as a job that pays you in cash flow, appreciation, debt pay-down, and tax benefits.
- Is There Value in Keeping Both of Our Sapphire Reserves?
Questions poured in after Chase announced big changes to the Sapphire Reserve. Today, we’ll explore whether spouses or partners should keep their own cards.
- Invest in Real Estate for Massive Tax Benefits
I invest in real estate for the massive tax benefits. Find out how I earn rental income and legally pay close to nothing in income tax on my rentals each year.
- Is the New Chase Sapphire Reserve Worth the Annual Fee?
Chase recently revamped its popular Sapphire Reserve credit card. Here is the exact thought process I went through in deciding to keep the card in my wallet.
- Invest in Real Estate and Other People Pay Your Debt
Besides cash flow and appreciation, the next main reason I invest in real estate is because other people pay off my debt through monthly rent payments.
- Money on My Mind: Read The Simple Path to Wealth
The Simple Path to Wealth by JL Collins is the best book I’ve read on investing. Collins teaches us the simplest and most effective way to earn massive wealth.
- Invest in Real Estate for Wealth Through Appreciation
The second main reason I invest in real estate, the first reason being cash flow, is to generate long-term wealth through appreciation.
- Money Question: What Would I do with $10 Million?
Readers recently shared what they would do with $10 million. One reader asked what I would do. So, here’s what I would do, and wouldn’t do, with $10 million.
- Invest in Real Estate Because Cash Flow is King
On my journey to financial freedom, rental property cash flow is king. With cash flow, I can cover my monthly expenses while my asset grows over time.
- Real Estate has Accelerated my Journey to Financial Freedom
I invest in real estate to accelerate my journey to financial freedom. I can then spend more time with my family, which I learned from my mesothelioma clients.
- What if You Woke up Tomorrow with $10 Million?
I love asking people what they would do if they woke up with $10 million in the bank. It’s another way to think about what you would do with financial freedom.
- How to Prioritize Investment Account Types While in Debt
How to prioritize investment account types, especially if you’re paying off debt, is another tricky money question. Here’s exactly what I would do.
- How to Think About Investing for Retirement and College
Choosing between investing for retirement or college is tough. While the decision can be emotional, using simple math can help you strike the right balance.
- Money on My Mind: Bears, Net Worth and Exercise
On my journey to financial freedom, I’m consistently striving to learn as much as I can from other bloggers and writers who have done it before me.
- How to Think About Investing While in Debt
Whether to invest while in debt is a tricky question. I like to do both for these reasons, using 75% of my available funds for debt and 25% for investments.
- Best Money Mindset Book? My 9 Favorite Picks
A great money mindset book will motivate you to use money to build a life you’re proud of. These are my favorites from my journey to financial freedom.
- Why Target Date Funds: The Easy Way to Invest
The easiest option can also be the best option. That’s why I invest with target date funds. My portfolio is diversified and automatically rebalances over time.
- 7 Things I Love About Index Funds
My 7 reasons I love index funds range from the low costs and automatic diversification to the minimal mental effort required to generate long-term wealth.
- My 4 Favorite Investment Accounts for Long-term Wealth
My 4 favorite investment accounts maximize tax benefits and match my evolving priorities, which gives me a better chance of reaching financial freedom.
- What is Your Magic Retirement Number?
Using the 4% Rule, you can easily calculate your magic retirement number and determine if you need to make any changes to your current spending and savings.
- 2 Easy Steps to Start Investing for Long-Term Wealth
If you’ve ever been nervous about how to start investing, don’t worry. There are only two steps: 1. Open an account. 2. Pick your investments. It’s that easy.
- Learn the Complicated Language to Make Investing Easy
Investing can seem intimidating when you hear phrases like “asset allocation.” Once you learn the language, you’ll realize investing is actually not that hard.
- Money on My Mind: Read Millionaire Milestones
Millionaire Milestones by Sam Dogen is the Goldilocks of personal finance books. He’s not only done it all in personal finance, he’s still doing it.
- Great Talk: Money, Baby Blue, and Friends
The best money I’ve spent lately was on a tree and a friend. I felt a triple happiness boost each time, which reminded me of the tie between money and emotions.
- How Much Money a 1% Advisor Fee Really Costs
One of the few things we can control when we invest is what we choose to pay in fees. Lets’s look at what a fee of only 1% can do to your long term gains.
- Why Successful Investing is Playing Offense and Defense
Investing is about playing offense and defense. Investing to do fun things later on is playing offense. Investing to counteract inflation is playing defense.
- Money on My Mind: Financial Literacy Month
April is National Financial Literacy Month. Think and Talk Money readers don’t need a recognized money month. We think and talk about money throughout the year.
- Risk is the Cost to Invest
Risk is the cost to invest. Look at the different outcomes for 2 pretend friends: one was afraid to invest and the other was comfortable with reasonable risk.
- Invest Early and Often for the Magic of Compound Interest
Forget the old Chicago slogan, “Vote early and often.” Instead, I prefer, “Invest early and often” to take advantage of the power of compound interest.
- Investing is Actually the Easy Part
On the journey to financial independence, investing is actually the easy part. The hard part is consistently generating money to invest in the first place.
- How to Set $93,000 on Fire
Even if you work with an advisor, you need to learn the basics of investing. It’s your future. I lost out on $93,000 by failing to educate myself.
- Happy that I Delayed Financial Independence
I’m happy that I delayed financial independence to build the life that I truly want. By house hacking for seven years, I can now clearly see the finish line.
- FIPE not FIRE: Financial Independence, Pivot Early
Instead of FIRE, I believe in FIPE: Financial Independence Pivot Early. With FIPE, the goal is not to withdraw, but to pivot to more meaningful work.
- My Journey to Financial Freedom
My journey to financial freedom began 15 years ago. I’ve learned that the journey to financial freedom for lawyers and professionals does not happen over night.
- The Biggest Money Question: What is Your Money Why?
Have you thought about what it could mean for you and your family if you are good with money? I was recently reminded of why I want to be good with money.
- Top 10 Student Loan Tips for Lawyers and Professionals
Student loans are just heavy. To help get rid of that weight as efficiently as possible, here are my 10 student loan tips for lawyers and professionals.
- Money Questions: Markets in Free Fall
When markets are in free fall, it’s important to talk to your people for support. Since time is on my side, I’m holding steady with my investments.
- 529 Plans for Sky High College Costs
529 plans are a great way to save for college because of the potential triple tax benefits. Learn how to estimate how much to save today to pay for college.
- The Time is Now: Student Loan Basics
With student loans, don’t let outside factors stop your progress towards financial freedom. Learn the basics about student loans so you can make a plan.
- Student Loans and Financial Freedom
Debt from student loans and financial freedom go hand-in-hand. My wife and I talked about paying off my student loans before marriage. I’m so glad we did.
- When to Think Cash Instead of Credit
I prefer using credit cards to earn points and to track my spending, but I am using cash more than ever nowadays because of high credit card processing fees.
- Good Credit Card Perks Besides Points
Besides credit card reward points, my favorite perk of using credit cards is to help me stay on budget by easily tracking my monthly spending.
- Top 10 Credit Card Tips for Lawyers and Professionals
Here, we discuss ten credit card tips for lawyers and professionals so you can benefit from the perks of credit cards without suffering from the penalties.
- Money on My Mind: Global Happiness
Happiness is tied to the freedom to choose what you do with your life. This is why financial freedom is so important when striving for a happy life.
- How to Use HELOC to Buy Investment Property
Using a HELOC to buy investment property is one way real estate investors scale quickly. I’ve used a HELOC to buy investment property three separate times.
- No Need to Obsess Over Credit Score
Your credit score is important, but it is not worth obsessing over. If you practice strong personal finance habits, your credit score will naturally be high.
- Great Talk: Money and Fences
Talking to your people is a great way to help make financial decisions, whether you’re replacing a fence or starting a budget.
- Why Credit Reports are So Important
Your credit report tracks your history with repaying current and former loans. It’s crucial to maintain good credit for a healthy financial life.
- Good Credit with Unicorn Cake
Using credit the right way is an important step in a healthy financial life. When used correctly, credit can accelerate your path to financial freedom.
- Powerful Money Lessons from Alone
We can learn about personal finance by watching Alone. Not all dollars are created equal, attitude is everything, and family is so important.
- Debt Snowball or Avalanche Better?
Debt Snowball and Debt Avalanche are the two most best strategies to efficiently pay down multiple debts. I prefer Debt Snowball for the faster emotional wins.
- How to Realistically Pay Off Debt on a Budget
Paying off debt takes patience and a plan. Here are my Top 10 strategies for how to pay off debt on a budget as efficiently and painlessly as possible.
Picking the right property is only the first step to becoming a successful landlord. Equally important, you need to choose your tenants wisely.
Stop letting credit card companies profit off of you by learning how they make money. Then, you will receive the benefits of using credit cards, not the banks.
