Splurges: we all know they’re not good for us. To splurge is defined by dictionary.com as “to indulge oneself in some luxury or pleasure, especially a costly one.” For someone trying to achieve financial independence, expensive splurges can be just plain evil sauce.
Squatter rights are a complete game-changer when it comes to property, inheritance, and even retirement. In the United States, there is no such thing as squatter rights, but they are common throughout much of Latin America. In my time in Bolivia,
I realized last week that I did something few people ever get to do. I just moved from one of the more expensive places in the world – California – to one of the cheapest places in the world – a small town in the Bolivian Andes.
The next time you go into a supermarket, please do me a solid, and kiss the clerk… or if you’re too shy, then at least shake her hand. She certainly deserves it, because modern supermarkets are truly a wondrous glory.
Last year, I wrote about what it cost to drive my electric vehicle for five years. The biggest cost of owning an EV is the cost of depreciation – the loss of value in the car each year that you own it.
One of the beautiful things about travelling to South America is that your dollar goes a long way. The second you step off the plane, you get a massive boost of wealth through FX magic. Thanks to a much lower cost of living and favorable exchange rates,
The personal finance community loves talking about FIRE – financial Independence (FI) and early retirement (RE). Conventional wisdom is that you can achieve FI with savings and investments worth 25-30 times what you spend each year. For example, a married couple who spends $40,000 per year can thus achieve financial independence with $1M –
Inflation in America is like a Chupacabra. Most people don’t even know what it is. Those who do, think it’s a mythical thing – like a beast that roams the woods of far off lands. For decades now, Americans have experienced very little inflation (with the glaring exceptions of the cost of college,
When you can’t get a plush salary job, you’ve got to find another way. That usually means finding unique and creative ways to sell goods or services. In America, we often call these jobs “side-hustles”. But in Latin America, this is the primary source of income for most people.
The personal finance community in the United States often talks about frugality. It’s true that being frugal and consistently saving money over years is the simplest and most straight-forward path to wealth. But, everything is relative. The things we consider frugal in the U.S.
I remember having a conversation when I was about 25 with my best friend at the time, Brian. I told Brian that I didn’t want to be burdened by a bunch of possessions. My ideal was to be able to fit everything I own into the back of a pickup truck,
If you have a somewhat-above-average professional salary, saving at least half of your income is totally doable. I’ve been doing it for many years, even while I was the sole wage earner for a family of four living in high-cost California.