Author: Jim Wang

My parents emphasized education because for many immigrants, education is the way to level up in your life.

That said, there wasn’t anything wrong with being a janitor. A janitor may not be paid a lot but janitors are very important because they keep places clean. They work hard, get paid, and when they go home they no longer worry about their work.

The same can’t be said in a corporate job. You may put in 9-10 hour days but sometimes you have to answer emails on the weekend. Or go into work on Sunday. Or go on work trips. You may be paid more but it might not be that much more on an hourly basis!

The janitor doesn’t have a care in the world on Saturdays and Sundays – they’re living their life.

Which is to say this short piece by Paul Jarvis should hit home to those who tie too much of their identity with their your job:

Do what you love [Paul Jarvis] – “I’ve never understood why so many people are so concerned with only doing a job that makes them happy – as if anything else wasn’t worth doing.” This article will take you only a couple minutes to read but you’ll think about it for a while.

That first one was so brief, we need the next two to really cement the message:

Chasing Your Dreams is Probably a Bad Idea [Clipping Chains] – “When it comes to jobs and careers, parents the world over tell their children more-or-less the same message: you can do anything you want in life. Follow your dreams, and the rest will work out in the end. Of course, those same parents leave early each morning to go to a job that — as statistics show — they probably don’t love.”

Face It, We Are All Expendable: Financial Viability Countermeasures That Matter [Leisure Freak] – “It seems unthinkable today. Having your life and chosen future plans made expendable solely on gender and date of birth. As a young teenager I was fully aware what hitting age 18 meant. My poor working class keister could get a draft notification for the jungles of Vietnam.” Speaking of identifying too much with your job, this one reminds us why financial independence is important because of how expendable we are.

Ever wonder why so many companies are “located” in Delaware? Specifically, 1209 Orange Street. Wilmington, DE is home to 285,000 companies! Watch this video.

Bet there isn’t a place in the world that makes as much money per square foot!

If you have a second, please tell a friend to tell a friend about Apex Money!

I loathe third-party school fundraisers.

I don’t hate raising money for schools or good causes but our kids come back with donation forms almost every single month. One involved jumping rope, another involved a race, there was one that was just collecting money.

So far it seems innocuous right? The worst part about all of them was the HEAVY emphasis on prizes. Get $25 in donations, you get a stuffed animal. If you collect $50, there’s another prize. It went all the way up to $500 and you get a drone or something.

What lessons are we teaching our kids? Ask family and friends for money so you can get toys? It wasn’t focused on raising money to help a cause, it was solely about getting a toy. It’s infuriating. I had to edit this opening like a dozen times because of all the spelling errors I had because I was so argghrhhrhfhdhdhgjoi!!111!!11! GRRRRRRRRRRRRRRRR. OK it’s out of my system.

All this is to prep you for the first article… which clearly hit a hot button for me. And probably every other parent in the world. 🙂

How to Start Saying No to School Fundraisers [The Frugal Engineers] – “The first time we encountered this type of third-party fundraising was in PRESCHOOL. We ordered an obscene amount of frozen pizza and frozen cookie dough so our daughter could earn a ticket to the coveted “private school event” for top fundraisers. The event turned out to be a glorified play date at school. Disenchanted, we vowed to say no to school fundraisers for the rest of the year.”

Incidentally, what we do is pick one fundraising event to do and we skip the rest.

The Hidden Perk of Saving Up for Big Purchases [Half Banked] – “When you save up, it gives you time to think.”

The World’s Most Luxurious “Hut-to-Hut” Hikes [AFAR] – “Not all multi-day trekking experiences are created rugged; some allow you to conquer challenging terrain by day and luxuriate in utter comfort (and maybe a hot tub) by night.” Ohhhh I like hiking but I also like a comfortable bed. Some of these look amazing. Who am I kidding… they ALL look amazing.

Know a friend who might like an article we shared? Please forward this to them 🙂

When I was younger, my parents always emphasized finishing. Whatever task I was doing, finish it. 100%.

Not 99%. Not 99.9%. Not 99.99999999% — 100%.

It took into my thirties to finally internalize that message and finish.

That last tenth of a percent may seem silly but there’s power in completing loops and crossing things off the list.

Those little things may not seem significant but they are big in ways that aren’t always immediately obvious.

If you Run a Small Business Park In the Back of the Parking Lot [Skyclerk] – “Even on 30 below zero days with 3 feet of fresh snow on the ground, he would not waver and park any closer to the front door.” This story is framed for small businesses but I’d argue this is a good principle for how people should behave. The little things are the big things.

If you want to be a part of the 1%, you can’t live your life like the other 99% [Steve Adcock] – “If you want to be above average, then you can’t keep acting like you’re average. Living an above-average life means you’re making decisions consistent with being above average, not just average.”

What Really Happens When You Become an Overnight Millionaire? [Marker] – “Peter Rahal, a 33-year-old energy-bar impresario who sold RxBar to Kellogg for $600 million and became something of a consumer-products legend in the process, stood in the gigantic, spotless kitchen in his new Miami Beach mansion. Behind him, floor-to-ceiling windows revealed his pool, his outdoor bar, and Sunset Harbour. Throughout the house were expensive-looking modernist metal chandeliers; in the kitchen’s drawers, there were gold utensils.” That’s the opening paragraph but this isn’t an article slamming wealth. It’s the story of what happens to so many people when they are financially secure after selling a business… it’s half the story of RxBar and half the financial version of a kid growing six inches in a year and learning how to adjust to his new form.

And now for something that tickles the trivia and fun side:

The Secret Story of Butch Cassidy and the Sundance Kid’s Last Tango [Daily Beast] – This was one of my favorite movies and I never knew the real ending. “One of the two hosts, James “Santiago” Ryan, had once worked as a butcher, and outside the cabin, he must have cast a critical eye on the men grilling the lamb and beef. The other man, Henry “Enrique” Place, spoke better Spanish than his friend and business partner, and would have spent more of the evening inside with Ethel, his wife. […] In another life, they had gone by other names. Many other names, in fact; the men put on aliases the way other people put on coats. In Argentina, they hoped to conceal forever the names history would remember them by: Butch and Sundance.”

Have a great day!

The basics of personal finance are not hard. You want to spend less than you earn, save for the future, etc.

It becomes hard when those principles intersect with life events. An emergency fund is great until you have a problem with your car AND a cut back in hours at work AND pipe leak in your house AND…

It becomes even harder when it collides with problems that cannot be solved with money alone. Like serious medical emergencies.

But what keeps us going through those times is a sense of purpose. It’s the key message in Viktor Frankl’s book “Man’s Search for Meaning.”

Today’s Apex will be all about finding purpose.

An Unproductive life [Go Curry Cracker] – “A couple of centuries ago some people were thinking the industrial revolution would lead to the end of toil and strife. Automation would bring shorter workdays, fewer work weeks, and an abundance of free time. Email would allow people to attend fewer meetings and spend more time outside the office. It would be a new golden age. Alas, in practice most of the advances just resulted in more work. Culturally, we traded greater productivity for a higher material standard of living rather than greater freedom. We do more for the sake of more.” Unproductive is the part that should be in quotes!

Financial Independence Will Not Set You Free [Darius Foroux] – “For the longest time, I chased empty goals. An empty goal is something that doesn’t make you feel any different once you achieve it. Can you relate to that?”

7 Strange Questions That Help You Find Your Life Purpose [Mark Manson] – “Most of us have no clue what we want to do with our lives. Even after we finish school. Even after we get a job. Even after we’re making money. Between ages 18 and 25, I changed career aspirations more often than I changed my underwear. And even after I had a business, it took another four years to clearly define what I wanted for my life.” The questions may seem strange until you read why you should ask them… then they are not strange at all.

Ikigai: The Japanese Secret to a Long and Happy Life Might Just Help You Live a More Fulfilling Life [Thomas Oppong on Medium] – “What’s your reason for getting up in the morning? The Japanese island of Okinawa, where ikigai has its origins, is said to be home to the largest population of centenarians in the world.”

The Harvard Study of Adult Development is one of the longest-running studies about adult life at nearly 80 years old.

The study, known as the Grant Study, started with 269 Harvard undergraduates and of that number, 19 are still alive today.

The study revealed a lot of things but one key idea about happiness emerged – “That the only thing that really matters in life are your relationships to other people.”

Today’s articles all focus on that idea but the first two involve children and are particularly poignant. If you have children in your life, whether your own or others you care deeply for, these articles will likely trigger a reaction.

Warning, they are NOT easy to read yet are incredibly powerful.

My 16 year old won’t say I Love You [The FI Old Guys] – OG2 shares why he’s seeking financial independence. As he puts it, he needs to retire as soon as possible. I’ve never before read a blog post with this breadth of openness, honesty, and emotion.

It’s later than you think [J.R. Storment] – “Eight years ago, during the same month, I had twin boys and co-founded Cloudability. About three months ago Cloudability was acquired. About three weeks ago we lost one of our boys […] After an hour of waiting in shock out front, I told the armed police officers guarding the doors that I couldn’t wait any longer. They allowed me to go out to the deck facing the kids room to peer through the sliding glass window. He lay in his bed, covers neatly on, looking peacefully asleep. I put my hand on the glass and lost it.” J.R. Storment shares the story of the passing of his 8-year-old son and his regrets.

The Tail End [Wait But Why] – “It turns out that when I graduated from high school, I had already used up 93% of my in-person parent time. I’m now enjoying the last 5% of that time. We’re in the tail end.” The first two pieces were about children but this one is going in the other direction.

I want to leave you with this TEDxBeaconStreet talk by Robert Waldinger titled “What makes a good life? Lessons from the longest study on happiness.” The study in question is the Grant Study I mentioned in the introduction.

Lastly, go hug someone you care about right now.

I’M BACK!

As you may have seen last week, J.D. is gallivanting in Europe again though this time it involves more work than pleasure, and so I’m (Jim) back. Did you miss me?

If so, I’ll be on deck to curate over the next two weeks.

If not, well, I hope you’ll give me a chance to win you over!

I Won’t Apologize For Spending Money [Passive Income M.D.] – “Recently, a few of my family members expressed some concern over my spending habits. They said to me, in essence, that I was spending too much.” The broader message here is that what you see on the surface is only part of the story. Just as how 90% of an iceberg is below the water’s surface, you can’t tell much about one’s financial situation from the outside.

The 5 Secret Levels in the Game of Money (and How to Beat Them…) [My Money Wizard] – “Money is nothing more than a real life video game. And not just any game, either. ‘Money’ might as well be the most complex Role Playing Game (RPG) ever developed.” This is an interesting framework with which to play the game of money & life.

Podcast sponsorship revenue continues to fuel NPR’s financial growth [Current] – This may be a little inside baseball for other creators but podcast sponsorships are for real. “NPR is projecting that podcast sponsorship revenues will surpass revenues from broadcast sponsorships next year for the first time.” This reminds me of when advertising started moving away from “traditional” platforms and toward “digital” platforms.

I love when masters of something (anything) talk about their craft. For today, I want to leave you with this Wired video featuring Gentry Stein. Stein is a world yo-yo champion and he talks about his mastery. There’s a little yo-yo history but the fun part is when Stein goes to work.

Like it? Love it? Share it?

Today marks the last day I (Jim) will be curating Apex Money for a few weeks. J.D. is back from gallivanting and he wants his spot back!

We’ll return to our regularly scheduled programming with J.D. handling most of the primary curation duties.

I would love for you to let me know how I was doing. J.D. has been curating for years and I only recently tried my hand at it… so let me know how it went and how I can improve. You can reply to the emails or send me a message at jim at apexmoney dot com. So far a few of you have told me you enjoyed some of the previous articles and the guest curators. We want to give you what you want, so please let us know!

Onto today’s goodies:

Know Thyself: How Growing Self Awareness Made Me Better With Money [Brave Saver] – “I go through the motions of tracking expenses and setting a budget. Then I feel better because I have all the appearances of responsibility, that makes it so, right? Nope. Simply making a plan won’t lead to the outcomes I want. […] Eventually it occurred to me. The answer was, in fact, right there in the question: These tips and hacks didn’t work because they didn’t work for me.” If you struggle with following the advice of ‘experts,’ perhaps it’s because you need to filter their advice through your situation and history. Elyssa explains how she was able to develop this skill in her life (and how’s it’s constantly a work in progress).

Is Hiring A Coach Worth The Money? (And Do I Need One?) [Women Who Money] – “Sometimes you find all the information you need and take action without help from others. But you can probably name at least one important goal you haven’t met – even after trying different ways to accomplish it. If you suffer from impostor syndrome, are uninspired, would like more guidance, and are ready to move to the next level or make a transformative change, but don’t know where to start -you might consider hiring a coach. Let’s arm you with some info to help you decide if a coach is right for you.”

What’s in a Job? [Fiery Millenials] – “I started the year at one company, left after 6 months for another company, and am now getting seriously recruited for yet another company after only 3 months!” This post is really interesting because it walks through my friend Gwen’s thinking as she considered a new job just 3 months after starting her old job. If you’ve ever thought that leaving a job so quickly would brand you a “job hopper,” don’t. Sometimes a job is just not a good fit (and sometimes the other job is an $11k jump in pay with a bonus, RSU and better benefits!

Incidentally, the Bureau of Labor Statistics has stats on average tenure and as of January 2018 it was just 4.2 years. The average tenure has largely been around that number too… so the idea of the company lifer is really a myth.

We end with a video explainer on the yield curve by Vox and what happens when it inverts (and why it inverts). It has predicted every recession over the last 50 years… but what does it actually mean?

Fascinating right?

I heard you like guest curation! We (Jim and J.D.) want to introduce the latest guest-curated Apex courtesy of none other than Kristin Wong.

Kristin Wong, a personal finance freelance writer author, and award-winning journalist, has put together her favorite picks as a representative of Personal Finance by Women. Many thanks to Brynne from Femme Frugality for coordinating!

From negotiating to navigating the pay gap, women and marginalized groups face unique challenges when it comes to money.

When I first started getting my finances in order, I didn’t think this was true. Money isn’t gendered, so why should personal finance advice be any different for women? And really, it’s not. We don’t need special money advice. But we are faced with gender and racial bias in the workplace and beyond, and like so many things, this problem often becomes a money problem. The more I dealt with my own personal finances and started writing about my experiences, the more I became aware of the fact that we do indeed live in a world that makes money more complicated for some folks.

This week, I’m pointing you to five articles — and one podcast episode! — on this topic that I’ve recently read and enjoyed.

When Getting Money Hurts [New York Times] – Paulette Perhach asks what to do when you receive financial compensation from a past trauma, like sexual abuse. Considering the statistics on sexual assault, this may be more common than you think. Perhach asks the painful, poignant question: “How should people handle financial gain, a supposed symbol of freedom and power, when it derives from events that made them feel trapped or powerless?”

Work Isn’t Working: The Real Reason More Women Are Going Freelance [Refinery29] – Andrea Codrea-Rado wonders if more women are opting for freelance as a response to traditionally masculine workplace structures. “I thought that I was just built for freelancing – an introvert who works better alone; a nerd who loves to organise; an only child who likes to get their own way. I had internalised all the insidious ways that workplaces didn’t work for me and concluded it was me who wasn’t working ‘properly’. But the further into self-employment I got, the more women I met and the more stories of empowerment I heard.”

Letter to Middle Class Black America [Rich and Regular] – Julien and Kiersten, aka Mr. and Mrs. r&R, make the case for FIRE as a response to marginalization in the workplace. “Black excellence is exhausting. We’re tired because the effects of a work-obsessed culture coupled with the fatigue from climbing a rigged corporate ladder are starting to take hold. We’ve been given all the tools to get on the hamster wheel, but none of the tools to get off. Now, the golden handcuffs are starting to feel less like bracelets and more like a shiny trap.”

To Promote Inclusivity, Stay Away from Personality Assessments [New York Times] – Quinisha Jackson-Wright wonders if personality tests like the Myers-Briggs are a bad idea for workplaces seeking inclusivity. “Are such assessments helpful or harmful to organizations that want to promote a truly inclusive workplace culture? Do they fulfill their intended purpose of helping managers get to know their team’s working styles, or simply reinforce stereotypes that encourage managers to seek out people like themselves?”

So Many Money Feelings: [Call Your Girlfriend] – Podcast producer Gina Delvac interviews Reema Khrais, host of This is Uncomfortable, to answer reader questions about money, relationships, and emotions. CYG is not a personal finance podcast, but it’s kind of refreshing to hear non-“money people” talk about money.

The Important Thing About Money Has Nothing to Do With Money [The Luxe Strategist] – I’ve always said that personal finance has everything and nothing to do with money, so I loved this post from Luxe at the Luxe Strategist. She writes, “In personal finance we all focus way too much on tactics. While spending less than you earn, learning how to invest, and opening up a 2% interest savings account are important, the results will mostly vary depending on who you are. But one thing I can guarantee is that money will always be hard unless you’ve got the touchy-feely stuff down. That means understanding what drives you to do things. Your core values.”

Happy Wednesday Money Nerds!

We are still basking in the glow that is FinCon (it ended on Sunday) and seeing all of our other money nerd friends. If you love personal finance and FinCon ever comes to you, getting a Community Pass is a great way to meet some of your favorite creators. It’s going to Long Beach next year so all you LA-adjacent Cali folks can stop by!

Today’s articles run the gamut of subjects but they are all good and you should find something in there that resonates!

Your Financial Order of Operations: Where in the Hell Do I Even Begin? [The Dumpster Dog Blog] – “I know that “building wealth” sounds kinda intimidating and out of touch. When I say “building wealth,” I’m actually talking about freedom. I am talking about putting ourselves in positions where we won’t have to work forever. I’ll say it again: WEALTH = FREEDOM. Sometimes, it helps to reframe—from now on, think of “building wealth” as “building towards my freedom.” What would you do with your life with financial freedom? That’s where I begin, and do some reverse engineering from there.” If you want some fun real talk on your financial order of operations, you’ll get it here.

This image, from the post, should wake you up too if you have credit card debt:

Measuring the All-In Fee of Top Investment Advisors [Movement Capital] – “I went through ADV disclosures for each of the top 100 RIA firms in the InvestmentNews database. I then excluded family offices with high minimums and firms with variable pricing not clearly broken out into tiers. Some of the firms include financial planning in their fee and most firms have discretion so clients might pay less than the public fee.” The specifics of this are less important than the implication – if you work with an advisor you have to look at more than just management fees. You have to look at implementation costs too because they are not inconsequential (around 50 basis points). This is one reason why robo-advisors are enjoying their moment in the sun.

Tips from 16 years of working from home [A Whole Lotta Nothing] – “The most important thing that made this a stable, reliable, and workable option in my life was getting a dedicated room in my house set aside for work. Having a home office with a door that cut me off (mostly) from whatever else was going on in the house was key to making it all work.” Matt Haughey has been working from home for quite a while and as someone who works from home, I found his advice was spot on.

If you like treasure hunts…

There’s a Treasure Chest Worth Millions Hidden Somewhere in the Rocky Mountains. These Searchers Are Dedicating Their Lives and Savings to Finding It [Money] – “For Fenn treasure hunters like Meachum, the search is no myth. It requires real commitment, and perhaps more importantly, it requires real money. From hiking boots to hotel rooms, the costs can add up quickly. Meachum recently calculated that she spent more than $10,000 on the chase last year alone — to her, a small price to pay for an “incredible adventure” that’s still unfolding.” Forrest Fenn thought he was going to die of kidney cancer so he cast a bronze chest and filled it with gold coins, placer nuggets from Alaska, pre-Columbian animal figures and Chinese jade faces. Then buried it somewhere in the mountains.

HOW CRAZY IS THAT!?!?!?!?

This past week, I had the pleasure of meeting up with some of my favorite people in the world at FINCON.

So many of the other bloggers came up and told me how much they love Apex Money, what J.D. and I are doing, and to learn about where we hope to go. This is on top of all the warm emails we get replying to the daily curations (keep your emails coming!).

One common question keeps on coming up – how can I help? If you want to help grow Apex, share it with friends. Forward them the emails and share them on social media.

Also, if you have something you want to share with us, you can always submit it using this form. Send in your stuff, send in someone else’s, send it whatever — as long as you think it’s the best. Thank you!

Here’s today’s curations:

Why Do So Many Engineers Retire Early? [The Frugal Engineers] — “Have you ever wondered why engineering is so prominently represented in the early retirement community? Is it actually easier for engineers to retire early? What can everyone learn from the engineering mindset to propel their own early retirement journey?” As a former software engineer, a lot of the reasons resonated with me – it’s more than a relatively high income. That certainly doesn’t hurt (and not all engineers are highly paid) but the other characteristics matter more.

How to Stay Hungry on Your Journey to Financial Freedom [Dividend Diplomats] — “Time can wear you down or time can build you up. You may feel tired from putting in all of the blood, sweat and tears on your journey. I am here to show you what you may need to STAND back up, to stay HUNGRY and to keep GOING on your journey.” It’s hard to work towards a multi-year goal and this post by the Dividend Diplomats shows you how to identify what is essentially burn out and reinvigorate yourself.

I’m Finally Making Money, But It Doesn’t Feel Great [The Cut] — “For the first time in my life, I’m making a really good salary, and so is my husband. We’ve always been very careful with money. We both maxed out our 401(k)s and IRAs even when we made tiny starting salaries. […] It’s like now that I have all this extra money, I feel like I’ve become this whole new person I don’t recognize. How can I go back to being someone who’s fine with mismatched plates and thrift-store items, instead of this trend follower with a perfect house filled with nice shit that doesn’t matter?” When you don’t much, it’s hard to understand the problems of those with means. But they have problems too and they’re often quite pernicious and Charlotte Cowles gives fantastic actionable advice free of platitudes.

The Troubling Business of Bounty Hunting [GQ] — “You may not realize it, but bounty hunting is still alive and well in America in 2019. It’s fueled by old laws, loose guidelines, and not-great money. In order to get a closer look inside the world of “bail enforcement agents,” writer Jeff Winkler got licensed and spent months working as a BEA. What he found was a mess for pretty much everyone caught up in a broken system.” Some of the best articles are those where the names and locations have been changed… this one is no exception if you ever saw Dog the Bounty Hunter and wondered what actually happens.