Are Turnkey Investments Really Worth It?

Engelo Rumora
, 22/07/2018 | Source: The BiggerPockets Blog

turnkey-tips

Is turnkey real estate worth it? There is a huge stigma around turnkey and rightly so. At the end of the day, there are just too many operators selling properties for far more than they are worth in bad areas.

View the full article: Are Turnkey Investments Really Worth It? on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

The Sunday Best (7/22/2018)

PoF@physicianonfire.com
, 22/07/2018 | Source: Physician on FIRE


The Sunday Best is a collection of articles I’ve curated for your reading pleasure.

Expect most of the writing to be from recent weeks and consistent with the themes presented on this website: investing & taxes, financial independence, early retirement, and physician issues.

 

Presenting, this week’s Sunday Best:

 

Whenever I’m on a podcast, I like to feature it here. This one doesn’t include me, but it does include the author of several guest posts on kids, mattress money, and music, and frequent and thoughtful commenter on the White Coat Investor forum, VagabondMD. An Interview with Vagabond MD – Podcast #62.

 

The radiologist above isn’t the only vagabond to guest post here. The Frugal Vagabond, creator of The Earth Awaits and the companion article, The Earth Awaits: Where in the World is Our Family Going to Go?, has taken his family overseas. Find out where in Our New Adventure Begins.

 

Spoiler alert! Dr. Mo of Urgent Care Career / Sustainable Medicine is living and occasionally working in the same foreign country. Living proof that an American physician can practice telemedicine from another continent: Doing Telemedicine While Traveling.

 

Michelle Schroeder-Gardner from Making Sense of Cents will be working over seas, as well. As in working directly over the sea, as they have ditched the RV and moved into a 42-foot catamaran. Welcome to Paradise — We’re Living on Sailboat.

 

The Luxe Strategist sounds like someone who might enjoy life on a luxury catamaran. She shares some tips for the younger generation to help them achieve their deluxe dreams with 13 solid lessons in Life and Money Advice I Wish I Knew When I Was 22.

 

Bob Lai of Tawcan would have reached millionaire status more easily and quickly if he had done things differently, too. Our FIRE Journey — What I’d Have Done Differently.

 

Who wants to be a millionaire? Who wants to lose 50 pounds? Felicity of Fetching Financial Freedom has done both in her quest to retire early (and healthy). 5 Ways Losing 50 Pounds and Saving $1M Was Exactly the Same.

 

set for lifeESI Money has learned a few things from a bunch of fellow millionaires, some of whom are retired, and some that are not. Here’s five more of them.

 

How do millionaires invest their money? The Financial Samurai has answers. How High Net Worth Individuals Invest: Their Asset Allocation Breakdown.

 

I’ll bet there aren’t too many high net worth individuals heavily invested in target date funds. From Bryce the Wanderer at Millennial Revolution, Why You Shouldn’t Buy Target Date Funds.

 

 

Alexa, Give me a Thirty Second Money Tip

 

Did you pick up any of the heavily discounted Amazon Alexa devices on Prime Day last week? I did not, but I’ve already got a couple. Maybe we’ll pick up a video version when they get even cheaper, which I imagine they will by Black Friday or next year’s Prime Day in July.

bankofamericaIf you do have such a device, you can easily add a 30 second money tip from Nick True to your flash briefing. Nick is the author behind Mapped Out Money and is an active member of the FinCon community.

All you need to do is enable the skill Thirty Second Money Tip with Nick True and you’ll get a quick daily tip when you say “Alexa, what’s my flash briefing?” or “Alexa, what’s in the news?” I’ve tried it, and it’s pretty cool.

If you like that, you might also want to add the Millionaire Money Minute with Scott Alan Turner, another FinCon veteran who shares his knowledge and experience in brief sound bytes.

 

The 9th Annual Plutus Awards

 

The Plutus Awards are like the Oscars or Emmys, but for bloggers and podcasters (and without the red carpet, money, and really famous people). I was lucky enough to attend last year’s version as a nominee for best FIRE blog, and I’d love to do the same again this year.

If you’d be so kind, the nomination form can be found here, and you do not have to fill it out in its entirety. I’d appreciate your nod in the FIRE category if you think I’m deserving.

 

 

I’ll also put in a good word for my WCI network partners The White Coat Investor (a nominee last year for Best Investing Blog (a fitting category, obviously) and Passive Income MD, whose blog could be considered in the Best Entrepreneurship / Side Hustle Blog or Best Real Estate Blog.

 

 

If you are looking for additional doctor blogs to consider, see WCI’s massive List of Physician Financial Blogs he recently published. Many other excellent blogs written by people from all walks of life can be found on my blogroll.

 

 

We’ll close out the weekend with a recommended insurance agent, another one of the good guys in the industry who focuses on term life and disability insurance and will not try to sell you garbage products you don’t need.

 

MD Financial Services

MD Financial Services Scott Nelson-Archer, and his team have 25+ years of experience helping thousands of physicians around the country protect their future with disability income insurance and low-cost life insurance. We offer “True Own Specialty” disability contracts that pay 100% when you are unable to perform the duties of your specialty.  Designing the right policy for each Individual Physician with a Fixed or Laddered Term Life strategy can help can protect your family the right way and save you thousands in premiums over the years. Our 25+ years of experience working with Physicians around the country cannot be matched!

 

 

Have a happy week!

-Physician on FIRE

11 Cute Cash Envelopes for the Dave Ramsey System

Tiffany Ingle
, 21/07/2018 | Source: Millennial Boss

The cash envelope system taught by Dave Ramsey is an easy way to stick to your budget. Make budgeting more fun with these cute designer cash envelopes.

1. It’s Your Country Southwestern Patterned Envelopes ($6.50)

cash-envelope-southwest

This set of five paper envelopes comes in geometric, Southwestern designs. Don’t they remind you of the beauty of the desert?

Buy these on Etsy here.

2. Harlequin Cash Envelopes ($6.50)

cash-envelope-harlequin

This set of 10 envelopes comes in bright colors and a diamond harlequin pattern. Includes labels and a paper insert for each envelope.

Buy these on Etsy here.

3. Stacked Cash Envelope Set ($22.98+)

cash-envelope-stacked-planner

Keep your envelopes together with this unique organizational system. Designed to fit your favorite planner, specify the size you need at the time of your order.

Buy these on Etsy here.

4. Zippered Fabric Cash Envelope Wallet ($50.95)

cash-envelope-zippered-fabric-chevron

If you’re interested in cash envelopes that are not only stylish but durable, this custom wallet is for you. Choose from 4-10 zippered fabric envelopes in a gray and natural chevron pattern. Perfect for carrying your envelopes on the go.

Buy this on Etsy here.

5. Laminated Personalized Cash Envelopes #56

cash-envelope-terrific-style-56

Pick up this cute set of patterned envelopes in coordinated designs to keep your cash organized. This budget-friendly option contains four envelopes.

Buy these on Etsy here.

6. Zippered Monthly Cash Envelopes ($9.00+)

cash-envelope-zippered-plastic-window

These zippered envelopes have patterns that correspond with the 12 months of the year. Each envelope has a plastic window and a paper label that can be easily changed to suit your budgeting needs.

Buy these on Etsy here.

Related Posts:

7. Colorful Envelopes with Simple Script Labels ($7.00+)

cash-envelope-colorful-script-label

This collection of brightly colored rainbow envelopes comes in a set of six. Made with a thick paper, the simple script labels can be customized to fit your needs.

Buy these on Etsy here.

8. Floral Mandala Cash Envelopes ($4.75+)

cash-envelope-floral-mandala

This stunning set of envelopes is made of laminated cardstock. Choose the size and number of envelopes you need at the time of your order.

Buy these on Etsy here.

9. Expense Tracker Colorful Cash Envelopes ($4.50+)

cash-envelope-assorted-lined-tracker

Track your spending directly on these colorful envelopes. Available in sets of 10 or more!

Buy these on Etsy here.

10. Burlap Cash Envelopes ($8.99)

cash-envelope-floral-burlap

Use these trendy burlap floral and chevron envelopes to organize your money. Buy extra for gifts!

Buy these on Etsy here.

11. Cash Envelope Wallet with Tabbed Dividers ($42.00)

cash-envelope-laminated-tabbed-wallet

If keeping track of your cash envelopes is a chore, try this laminated tabbed wallet instead. Customize it with your choice of fabric!

Buy this on Etsy here.

How has the cash envelope system made a difference in your spending? Share your thoughts below!

11 Cute Cash Envelopes For The Dave Ramsey System

The post 11 Cute Cash Envelopes for the Dave Ramsey System appeared first on Millennial Boss.

The Top 10 Ways to Finance Your Next Property

Craig Curelop
, 21/07/2018 | Source: The BiggerPockets Blog

Are you thinking about buying a property? Whether it’s a home or an investment property, one of the first most important things you can do is ensure that you are obtaining the correct type of financing. Read on to learn more!

View the full article: The Top 10 Ways to Finance Your Next Property on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

Inflation – Friend or Foe?

Ms ZiYou
, 21/07/2018 | Source: Ms ZiYou

This week economists were surprised when inflation was lower than expected at 2.4%. And this started me thinking about inflation as a concept, was it good, bad or even necessary?

As a child I used to think inflation was all good – I assumed everyone has a bigger mortgage than their savings. And yes, that’s a very biased middle-class assumption, assuming that everyone followed the same model as my (parents) life. But now as a quasi grown-up, my opinion is changing – is inflation a friend or foe?

What is Inflation?

Simply put, inflation is when over a time period prices of goods and services rise and thus purchasing power of currency diminishes. Economists agree that some inflation is good for an economy, but too much inflation is bad. In the UK, the Bank of England is charged with maintaining inflation at 2% – the government’s desired target. They achieve this by managing the interest rate (base rate) and fiscal stimulus.

In recent memory, after the 2008 crash, we have been through a period with minimal inflation and record low-interest rates. However, with the economy picking up and the impacts of Brexit, inflation is back in the UK. If you want the official figures, minus any commentary you can get them all from the ONS, the government department charged with collecting them here: Office for National Statistics: Inflation.

Cash Devaluing

The majority of people think of inflation in terms of purchasing power when buying goods and services. That £10 you have today that buys you 10 loaves, will only buy you 9 loaves in the future. This simple economic concept is well understood, and we have easily understandable measures such as the RPI (retail price index) and CPI (consumer price index) that are calculated, published by the ONS and publicised widely in the media.

These indices are prepared by composing a standard basket of goods and tracking the prices over time. The RPI is currently higher than the CPI, as the RPI accounts for housing costs (e.g. mortgages and council tax) in addition to the consumer purchases included in the CPI. Their respective calculations also differ and if you want to know more, this is a great article from MoneyWeek.

Personalised impact

Changes in industrialisation, manufacturing and consumption habits over the passage of time result in some goods becoming more expensive and others becoming cheaper. Hence the amount you are personally impacted depends on your individual consumption habits – hardly anyone buys the standard basket of goods used to create the CPI index.

And you can make this work to your advantage – by varying your tastes and moving towards goods that are decreasing in price. I know I certainly review my consumption habits then naturally gravitate towards cheaper alternatives. Are you willing to be flexible to realise these savings?

Erosion of cash value

The decreasing purchasing power of cash should be a big concern for people. Especially given not many people store their savings in inflation proof accounts. Here in the UK, you have not been able to get a savings account with a return over inflation for many years. Yet a large percentage of the population keep cash in savings accounts and do not invest in shares and bonds. This leaves their savings losing value over time. It’s a big concern, especially in periods of inflation and low-interest rates which leaves them exposed. The value of their cash savings will depreciate in real terms year upon year.

Invest

Ms ZYou inlfation investIf you want to invest for the long term and want your money to retain its value, you need to invest in shares and bonds. The long term performance of cash versus shares in the UK can be seen in this fabulous Monevator article, where he also makes the case to invest in shares.

A key part of my journey to financial independence was learning about investing, you can read about my evolution to an investor. As inflation will erode the value of cash savings, I don’t keep any funds in a savings account. All my money is working for me in the market.

NB: This is made possible by my high savings rate that allows me to cashflow the vast majority of expenses that could come up. And not necessarily recommended for others in different situations.

Debt Erosion

Another fabulous effect of inflation is eroding the value of today’s debt in the future. As goods and services increase in price, debt remains the same price, hence the value of it reduces. This is one of the main reasons I am keen to retain my mortgage.  Although I am in the fortunate position to be able to pay it off if I wanted to tomorrow.  I will not, as the interest rate on my mortgage is tiny (1.5%) and I know inflation will erode its value.

Even looking back at my mortgage history – I took this mortgage out for £185k which felt like a massive amount of money at that time. But today, seven years later that £185k feels much smaller. Not to mention my income has increased tremendously to also dwarf the mortgage payment.

FIRE Planning

Ms ZiYou Inflation FIRE

One I don’t see many people covering, possibly as it is very complex is how the concept of inflation will impact your FIRE numbers. Does your FIRE target go up every year with inflation? Do you expect to spend more in the future?

Personally, I am keeping my FIRE target constant; mainly as I am only two or three years away, and frankly I am too lazy to change it. Moreover, despite the inflation of the last few years, I have actually reduced my spending and absorbed any price increases with no impacts.

Friend or Foe

To conclude, given my personal situation I feel that inflation is a friend to me. It erodes the value of my mortgage debt which is a big win. And as I invest rather than save, I can easily avoid the value of cash savings devaluing. And for the triple, as I am flexible in my consumption habits, I can avoid some of the price increases.

But on the other hand, my social conscious does wonder about those less fortunate. I can’t help but feel that inflation is a foe to others, especially those on fixed incomes and that keep cash savings.

Over to you

  • What are your thoughts?
  • How do you think of inflation?
  • Are you comfortable keeping money in cash?
  • Do you feel inflation erodes your debt?

Thank you for reading – please leave a comment below and join in the conversation. You can also connect on Twitter or contact me privately.

The post Inflation – Friend or Foe? appeared first on Ms ZiYou.

6 Reasons Short-Term Rentals Aren’t a Sustainable Investment Strategy

Sterling White
, 21/07/2018 | Source: The BiggerPockets Blog

airbnb-tips

Short term, Airbnb-style rentals may be popular, but that doesn’t make them a sustainable real estate investment strategy.

View the full article: 6 Reasons Short-Term Rentals Aren’t a Sustainable Investment Strategy on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

How a 1031 Exchange Can Make You Millions

Brandon Turner
, 21/07/2018 | Source: The BiggerPockets Blog

1031-exchange-rules

Let's look at two investors who bought and sold properties over a 25-year span. The investors end up with very different amounts because of the taxes.

View the full article: How a 1031 Exchange Can Make You Millions on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

The Ten Commandments of the White Coat Investor

PoF@physicianonfire.com
, 21/07/2018 | Source: Physician on FIRE

Do you want to reach financial independence? Of course you do. Do you want to get there in a reasonable amount of time? I’ll take it that’s a yes.

Back in 2012, Dr. Jim Dahle of The White Coat Investor wrote the Ten Commandments you should be willing to follow.

More recently, in late 2017, Ether to FI shared with us his report card as it relates to these directives. How did he do? Check out Ether to FI: Obeying WCI’s Ten Commandments & Net Worth Update.

Today, I’m happy to bring you the original commandments, complete with explanations and a few updates since it was originally published. As should be obvious if you’re absorbing anything you’ve read thus far, the original post appears on The White Coat Investor. [standard disclaimer]

 


 

And The White Coat Investor went up into the Mount and out of the burning bush came a finger which engraved on the stone tablets the following:

The Ten Commandments of The White Coat Investor

 

WCI-Banner

 

1) Thou Shalt Realize Thou Hast A Second Job

 

Most doctors won’t have any kind of a pension, so if you want to retire on more than Social Security will provide then you’ll need to learn how to implement and maintain a retirement plan and fund it appropriately.  Putting this off leads to failure.  Trusting it all to your “money guy” will likely lead to disappointment.

Just like rotating through gynecology or psychiatry, this has to be done no matter how painful you find it.  Pretending you don’t have to do this is simply denial.  Not realizing you have to do this is simply ignorance.

 

2) Thou Shalt Do Continuing Financial Education

 

Everybody, no matter whether they choose to rely heavily on a financial advisor or not, needs to do some initial financial education such as reading 3 or 4 good books on personal finance and investing.  I then recommend you read at least one good financial book a year.

Just like CME, you need a few hours of CFE for your second job each year.  Following this blog is another great way to get your CFE. [Update July 2018: A few other ways to get your CFE is to get involved in the WCI Forum, the new White Coat Investors Facebook group or the r/whitecoatinvestor subreddit.]


3) Thou Shalt Save 20% Of Your Income For Retirement Beginning the Day You Leave Residency

 

Many companies and municipalities have underfunded their pension plans.  The reason why is that they have an unrealistic expectation of ridiculously high future investment returns (and they like to spend their money on other stuff).  Individuals are no different.

The “personal pension plans” of most Americans are almost all underfunded with a median 401K balance of just $23,000.  [Update: In 2017 the median was $26,331. Not much has changed.]  Now, granted, many people have an IRA or a taxable investing account on the side, but even if it were half as big as the 401K…you’re still a long way from what I would view as a comfortable retirement.

set for lifeDoctors, by virtue of their late start, high loan burden, and future changes in medicine, need to save 20% of their income each year just for retirement.  If you assume a 30 year career, 5% after-inflation returns, and a 4% safe withdrawal rate in retirement, this savings rate will provide a portfolio that will replace approximately 56% of your pre-retirement income.

When combined with Social Security this should provide a nice, comfortable retirement with the ability to travel, leave money to your children, and donate to charity.  You may even be able to retire a little bit early.  But if you wait 10 years to start, and only save 10% of your income, your retirement nest egg will only replace 14% of your income.  Alpo here you come.

 

4) Thou Shalt Insure Against Catastrophe

 

There are lots of bad financial things that can happen to you in life.  Most of these are minor, like your washing machine breaking.  You don’t need to insure against these, you simply need an emergency fund of 3-6 months worth of expenses so you don’t have to go into debt when bad things happen.

Some bad financial things are major, but you can’t insure against them.  These include losing your income due to sexual harassment claims, multiple malpractice suits, or the loss of an important contract.  However, there are five major financial risks that you can and should insure against- death, disability, illness, liability, and property loss.

 

5) Thou Shalt Not Mix Insurance And Investing

 

Life insurance protects your family against the financial consequences of your death.  A large 20-30 year level premium term insurance policy will likely do the trick until your portfolio becomes large enough that you can self-insure against this risk.

Disability insurance protects you and your family from the financial consequences of your disability.  A good individual disability policy is expensive but worth it.  As a physician, it doesn’t take long to understand the value of comprehensive life insurance.  You should also carry high limits on your auto and homeowner’s insurance policies.

In addition, you need to have an “umbrella” policy above and beyond these policies.  These policies not only protect you against natural and man-made disasters, but against something that can cost you far more than a car wreck or a fire- a lawsuit.  Just as a malpractice policy protects you from work-related liability, so an umbrella policy protects you from liability in everything else in life.

Insurance is an important aspect of your financial life, but it should not be an important part of your investments.  There are many insurance-related investment products such as cash-value life insurance and annuities which allow you to transfer investing risks to the insurance company in return for some guarantees.

Unfortunately, when you transfer the risk, you also transfer the lion’s share of the returns.  These products tend to be complex and that complexity favors the insurance company and its agents.

The company doesn’t invest in any magic investments you can’t invest in yourself, but once the agent gets his commissions, the company pays its expenses and profits, and you pay for the costs of the insurance part of the policy, is there any surprise that the “investment” can’t keep up with more traditional investments?  Even considering the tax advantages of these products, these are investments designed to be sold, not bought.

 

6) Thou Shalt Favor A Passive Investing Approach

 

The academic literature is quite clear- active management is a loser’s game.  Stock pickers and market timers simply cannot outperform by more than it costs to do so.  Proponents of active management like to point to Warren Buffett’s record and say, “Look, it can be done.”

But Warren says, “A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.”  Humble yourself and realize that yes, you are part of that “great majority of investors.”  I am too, and that’s okay.  I don’t invest competitively, I invest to meet my financial goals while taking the lowest possible amount of risk.

 

7) Thou Shalt Hire Only Competent Advisors

 

It’s okay to do your own financial planning, manage your own investments, and do your own taxes.  With minimal input and assistance from appropriate attorneys you can even design and implement an adequate estate plan and asset protection plan.

You do need to put in some effort up front to educate yourself, but these subjects are far easier to understand than a nephron or an action potential.  Developing an interest in financial subjects is far easier when you realize just how much of a difference it can make in your finances.

 

A) High level credentials such as one or more of the following: CFP, CFA, ChFC, or a CPA/PFSIt is also okay to rely heavily on an advisor.  This doesn’t excuse you from your need to learn about finance and investing and to do your CFE each year, but many doctors simply don’t have the interest, time, or disposition to manage their own money.

However, there are legions of financial professionals out there whose business is transferring money from your pocket to theirs, not necessarily helping you to reach your financial goals.  In many ways, by the time you know enough to select a good financial advisor you know enough to do it yourself.  When choosing a financial advisor you should look for the following:

 

B) Reasonable fees — Avoid commissioned salesmen by sticking with a fee-only advisor.  Annual fees should be less than $5000 per year.  These might be payable as an hourly rate, as a percentage of assets under management, or as an annual retainer.

There are advisors out there who will work for $100-200 per hour, for 0.15-0.5% of assets under management, or for an annual fee of as low as $1000 per year.  If you’re paying more than this, realize that every dollar you pay in fees is a dollar you don’t have working for your retirement.

 

C) A Fiduciary — Many financial advisors select investments for you based on a lower “suitability standard.”  If the investment is suitable for you, he can sell it to you.  You want someone who is willing to sign a pledge to act as a fiduciary, meaning he is obligated to do what’s best for you, no matter what it costs him.

 

D) A Cloudy Crystal Ball — You want an advisor who knows that neither you nor he can predict the future, and who will design and maintain a plan that has a high likelihood of success no matter what happens in the financial markets over the next month, year, or decade.

 

E) A Bias Toward Low-Cost, Passive Investments — As mentioned above, active management is a loser’s game.  If your advisor isn’t aware of this, it reflects a serious ignorance of the academic investment literature and you should look elsewhere.

 

[PoF: See my list of recommended financial advisors to find some of the lowest fee advisors who check all five boxes above. They are a rare breed.]

 

 

8) Thou Shalt Minimize Expenses And Taxes

 

Every dollar you spend on investment expenses, fees and commissions, or that you send to Uncle Sam, is a dollar that isn’t working toward your retirement.  Studies show that the best predictor of future mutual fund returns is the cost of the mutual fund management.  The lower, the better.

Despite frequent claims to the contrary, a buy and hold strategy is still the best way to invest not only because it helps you avoid buying high and selling low, but also because it minimizes expenses AND taxes.  A wise physician also maximizes tax-protected investing accounts such as 401Kscash balance plans, and backdoor Roth IRAs.  When investing in taxable accounts, use only tax-efficient investments, and take advantages of opportunities to tax-loss harvest.

 

9) Thou Shalt Minimize Debt And Manage Necessary Debt Well

 

Credits cards are not for credit.  Buy your automobilesrecreational vehicles, furniture, and vacations with cash.  Don’t ever have a mortgage more than twice as big as your salary.  Minimize your mortgage interest by putting 20% down, refinancing when rates drop, and using a 15 year mortgage instead of a 30.

Prioritize paying off high-interest student loans.  If you have sizable student loans, become an expert on the IBR and PSLF programs.  Refinance your loans as soon as you know you won’t be going for forgiveness. Live like a resident until saving 20% of your income toward retirement is easy and your only remaining mortgage or student loans are at ridiculously low rates.

 

10) Thou Shalt Protect Thy Assets, Plan Thy Estate And Stay The Course

 

Most importantly, don’t sell out at market bottoms.  You will pass through 3-6 serious bear markets during your investing career.  Don’t invest so aggressively that you cannot sleep at night when things turn South, as we know they will.

Buying high and selling low can add 5-10 years to your career that you might have preferred to spend doing something else.  Your investment plan should be like an oil tanker, not a speedboat.  Any changes in direction should occur over a long time period.

Be aware of the simple strategies to protect your exposed assets from malpractice and personal lawsuits.  Consider implementing some of the more complex strategies.  Get a will and a trust.   If your assets begin to approach the estate tax exemption limits, see an attorney to draw up a more complex estate plan.

 

 

This is the financial and investing philosophy of The White Coat Investor.  You may not agree with all of it, but if you follow these commandments, financial success is guaranteed.

 

Do you agree that by following these 10 steps you can achieve financial independence? Why or why not? What would you add or take away from the list? How do you stack up to Ether to FI? (E.T.F.)?

10 Printable Budget Planners to Keep You From Overspending

Tiffany Ingle
, 20/07/2018 | Source: Millennial Boss

If you want to stick to your budget, you need a plan that works for you. These printable budget planners are a great way to begin your journey to financial freedom.

1. The Signature Finance & Budget Planner ($4.90)

printable-budget-planner-signature-finance

This collection of budget templates is the ultimate planning system. These eight worksheets can be printed in multiple sizes to fit the planner of your choice.

Buy this on Etsy here.

2. Single Page Monthly Family Finances Planner ($5.00)

printable-budget-planner-monthly-family-finances

This simple monthly budget planner helps you to plan your spending with care. There’s even space to plan for the next month!

Buy this on Etsy here.

3. Planning Inspired Rainbow Budget Planning Worksheets ($10.00)

printable-budget-planner-planning-inspired-rainbow

With 14 pages of colorful worksheets, this budget planning collection covers nearly every aspect of your personal finances. Choose from two sizes to fit your favorite planner.

Buy this on Etsy here.

4. Large Rainbow Chevron Budget Planner ($5.00)

printable-budget-planner-rainbow-chevron

This multipage planner set includes pages for tracking your monthly budget, a debt tracker, a bill payment checklist, and more. Fits standard 3 ring binders.

Buy this on Etsy here.

5. Easy Life Personal Budget Planner for Filofax ($4.24)

printable-budget-planner-filofax-insert

This four worksheet set is perfect for basic budgeting. Fits your Filofax personal organizer or similar planner.

Buy this on Etsy here.

6. Yearly Monthly Financial Planner for Traveler’s Notebook ($6.00)

printable-budget-planner-travelers-notebook-halfsheet

Master your finances with 40 pages of planning spreads. Designed to fit your Traveler’s Notebook or A5 planners.

Buy this on Etsy here.

7. Mom On A Budget Planner Bundle ($12.00)

printable-budget-planner-mom-budget

Whip your budget and your household into tip-top shape with the Mom On A Budget planning bundle. Contains a whopping 46 pages!

Buy this on Etsy here.

8. Paycheck Budgeting Worksheet ($3.50)

printable-budget-planner-paycheck

This bi-weekly budgeting worksheet is perfect for planning expenses according to your paycheck. The fields are editable so you can use it directly on your computer if you’d prefer not to write.

Buy this on Etsy here.

9. Financial and Budget Printables for the Happy Planner ($5.90)

printable-budget-planner-happy-planner

Use these five spreads to track your bill payments, monitor your savings, record your debt payments, and plan your budget for the month. These planning worksheets fit the classic and mini Happy Planners.

Buy these on Etsy here.

10. Bright Floral Budget & Finance Planner ($4.99)

printable-budget-planner-paper-del-sol

If you love florals, you’ll love these brightly colored planning sheets. Meet your financial goals with six different spreads.

Buy these on Etsy here.

Which of these spreads do you need for your budget planning system? Let us know in the comments!

10 Printable Budget Planners To Keep You From Overspending

 

Have you used a printable planner to track your budget?

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The post 10 Printable Budget Planners to Keep You From Overspending appeared first on Millennial Boss.

The 5 Things a Private Money Partner Really Cares About [Video!]

Matt Faircloth
, 20/07/2018 | Source: The BiggerPockets Blog

In this video, I look at the details that new private money partners care about most, so you can approach them with the right specifics and land the deal!

View the full article: The 5 Things a Private Money Partner Really Cares About [Video!] on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.