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Author: Plutus Foundation

The Biggest Mistake People Make When They Find Out About Fire

Hey Family, it’s your girl, Tarsha from the Plutus Foundation. If you are in the Portland area, please check out our event for Plutus Voices.

Plutus Voices will be in Portland on Today, August 17, 2022, at 6:30 pm. Our Plutus Voices events offer a chance to learn and network surrounding important topics in the personal finance space. Tickets are free but extremely limitedRSVP now and see more details at plutusvoices.com.

Here’s what we wanted to share with you this week.

The Biggest Mistake People Make When They Find Out About Fire. [Alan Donegan] — “Why do humans have this self-destructive tendency to make everything binary? I either spend everything I have, go into debt but I am happy, or I spend nothing and miserably work towards FI? Sacrificing happiness for financial independence is stupid. You are sacrificing years of your life to get to a magic number that won’t make you happy either.” (Submitted by J. Money.)

How to Take a Life-Changing Mini-Retirement. [Money Flamingo] — “Have you considered taking a mini-retirement? Whether you feel burnt out and need some time away from your full-time career, want to travel, start a business, or refocus and plan out your future – a mini-retirement or sabbatical might be an ideal break for you.” (Submitted by Harlan.)

Learn How to Beat Inflation and Make Sure Your Retirement is Safe. [Eat Sleep Breathe FI] — “How do you even begin to prepare for a recession in a way that actually makes a difference, rather than just shooting in the dark? We gathered insight from some of our favorite, most trusted financial creators.” (Submitted by Tarsha.)

The Price of Security

Happy Wednesday family, it’s Tarsha from the Plutus Foundation. We were going back and forth in deciding which stories we wanted to share with you this week. It was tough, but worth the fight. Enjoy!

Here’s what we wanted to share with you this week.

The Price of Security. [J L Collins] — “Security is mostly a superstition. It does not exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure, or nothing.” – Helen Keller (Submitted by J. Money.)

Making Plans to Make Your Pensions Profitable After Retirment. [Enemy of Debt] — “Are you looking forward to the day of your retirement? Some people cannot wait for retirement, while others are still apprehensive for various reasons. Retirement means differently to people, but there is one thing you should do. You should review your pension regularly to ensure it is on track to give you the income you want.” (Submitted by Tarsha.)

How to Prepare for a Recession Like a Financial Expert. [Her First $100K] — “How do you even begin to prepare for a recession in a way that actually makes a difference, rather than just shooting in the dark? We gathered insight from some of our favorite, most trusted financial creators.”(Submitted by Harlan.)

Embrace The Underdog Within to Win

Hey there, it’s Tarsha from the Plutus Foundation. The team and I dug deep into our vault and pulled these amazing articles for you read and enjoy.

Here’s what we wanted to share with you this week.

How to Create More Freedom with a Portfolio Career. [ Money Flamingo] — “Designing a portfolio career is really not much different from creating an investment portfolio. It’s a way to combine different jobs, self-employment, volunteer and freelance roles. This approach offers more control over your time, freedom to explore new options and the ability to create your perfect work-life blend.” (Submitted by J. Money.)

Reader Case Study: Can I retire at 60 and Pay for My Kids’ College? [ Frugalwoods] — “Jenny and her husband Will live in the Upper Midwest… the couple always planned for him to retire at 60 and to pay for their kids’ college educations. However, now that the date is nearing, Jenny’s not sure this is actually feasible.” (Submitted by J. Harlan.)

Embrace The Underdog Within to Win: Who You Are Is Good Enough. [Financial Samurai] — “Are you an underdog looking to succeed in this brutally competitive world? Do people ignore you, discredit you, think you’re dirt, or even hate you for just being you? Well, welcome aboard!” (Submitted by Tarsha.)

Inflation: Last Week Tonight with John Oliver (HBO). [Last Week Tonight] — “John Oliver discusses what causes inflation, what we’ve done about the current round of it, and, of course, makes the smartest investment of all time.” (Submitted by Harlan.)

Selling and Surviving

Most of us want financial freedom but are not sure where and how to start. We searched high and low for these articles to kick start your success to financial freedom.

Here’s what we wanted to share with you this week.

How Much Money Should I Save Every Month? [Go From Broke] — “Most of us know we should be saving more money, but for a lot of us, that’s easier said than done. Whether you’re looking to buy a house, save for retirement, or just have some extra cash on hand in case of an emergency, you need to be proactive about your savings.” (Submitted by Tarsha.)

Selling and Surviving. [Best Interest] — “If you’re young enough to invest your money and pull a Rip Van Winkle, go ahead into 100% stocks. Some people are fine with a multi-decade hibernation of avoiding their account statements. But most people don’t live in that world.” (Submitted by J. Money.)

When Are Roth Accounts Better then Tax Deferred? [Can I Retire Yet?] — “In reality, there is no one size fits all advice that works for everyone. So, it is worthwhile to explore circumstances when Roth options are superior to tax-deferred retirement accounts to round out previous articles on this blog that emphasize the value of tax-deferral.” (Submitted by Harlan.)

Does More Money Lead to Financial Independence?

We hope everyone is keeping cool and enjoying this summer heat. We had to take a little break from our summer fun and share these great articles with you. Enjoy!

Here’s what we wanted to share with you this week.

Why More Money Won’t Lead to Financial Independence. [Darius Foroux] — “I used to have goals like, “I’d like to earn a million bucks in a year!” But as I started to study Stoicism and Mindfulness, I learned to practice non-attachment to outcomes. I gave up on those types of goals. Let me tell you why.” More money, More Problems. (Submitted by J. Money.)

5 Main Causes of Overspending. [Smart Money Chicks] — “If you’re an over spender, you’re not alone. According to NerdWallet, over 64% of Americans have credit card debt or have had credit card debt in the past. Why do some people constantly find themselves overspending while some are naturally born savers? The actual causes of overspending highlight that these problems run deeper than we think. Let’s pinpoint the 5 main reasons for overspending and actionable ways to stop these habits from taking over your bank account.”  Which one are you? (Submitted by Tarsha.)

When I Asked for More Than My $43,000 Salary, They Accused Me of Loving Too Lavish a Lifestyle. [Too Ambitious] — “Meet Emma, a project coordinator from Atlanta, Georgia who, after a year working at her company, taking on more and more responsibilities, asked for more than the $43,000 she was offered.” This seems fair, but what happened next is all too common. (Submitted by Harlan.)

Can Money Bring You Time?

It’s good to be back, Apexians! It’s Tarsha on behalf of the Plutus Foundation team. We hope you enjoyed last week’s selections. We took our time this week to share some of our favorite articles and hope you will enjoy them as much as we do.

Here’s what we wanted to share with you this week.

Why Is Student Debt a Problem? [Arrest Your Debt] — “A significant portion of this money is owed to the federal government, with other institutions supplementing the balance. Students now owe close to $30,000 by graduation, creating a strain on their incomes.” Don’t let student debt consume you. (Submitted by Tarsha.)

Lessons Learned from Talking Money Part 1, Remembering Asha. [All Options Considered] — “There were so many things we still want to discuss with Asha, but her remission didn’t last as long as we all had hoped. But one thing is clear – There’s great value in feeling heard and understood and being able to talk openly about things that matter including health and money.” Have these conversations when you can. (Submitted by Harlan.)

Time and Money: Money Bought Me Time. [One Frugal Girl] — “While my dad was sick, I never had to weigh the importance of a job against my desire to be with him. When my kids were small, I didn’t have to choose between them and a career I needed to pay my bills. The greatest gift of financial freedom is the time it gives us. I am so grateful for the time it gave me this last year to be with my dad!”. Time is money, or is it? (Submitted by J. Money.)

Losing all your money in the stock market?

Aloha, Apexians. It’s Harlan on behalf of the Plutus Foundation team. We’re super excited to be here on Apex Money, sharing some of our favorite finds from far-flung financial friends every Wednesday, beginning today! Thanks for your patience with us as we work out the Kinks.

Here’s what we wanted to share with you this week.

But I Don’t Want to Be Frugal. [Clipping Chains] — “If you are new to this game, I recommend you find the bottom. See what it feels like to cut back to bare bones, because you’ll know how lean you can get when necessary. But then find a life you enjoy, and make the financial frame fit the picture. Get a coffee, but not every day. Enjoy the occasional meal out, but learn to cook your own food too. Find joy in simplicity.” Balance, you really got me. (Submitted by J. Money.)

Income Streams – Why Is It So Important To Have More Than One Today? [Wall St. Nerd] — “Every beginning is difficult. Nevertheless, you should just do it. Start with your skills – turn them into money! For example, work part-time as a freelancer and build a second leg to stand on.” Take one sunny afternoon, or several, to diversify your income. (Submitted by Tarsha.)

Wait… Did I Just Lose All My Money Investing in the Stock Market? [Bitches Get Riches] — “But despite your goals, the value of any stock you own can fluctuate up and down over months and years. To a large degree… that doesn’t matter at all. What matters is the price at which you sell a stock compared to the price at which you bought it.” I’ve been watching my portfolio tank all day and all of the night. I’m moving some of my cash alternatives into equities right now. That’s all I can do (other than building new income streams and adopting a more frugal lifestyle; see above). (Submitted by Harlan.)