Retirement

With the New York Times article on Fat FIRE, I’ve been thinking a lot more about the repercussions of achieving financial independence and retiring early. One of those repercussions is that financial independence can turn you into stingy person who is unwilling to give! Every year, my kids’ Mandarin immersion independent school hosts a fundraiser […]

One of my ongoing challenges as a writer is explaining financial concepts in an easy-to-understand manner. With a background in business school and 13 years at Goldman Sachs and Credit Suisse, financial concepts come naturally to me. Despite writing over 2,500 personal finance articles since 2009 on Financial Samurai, however, some concepts still get misunderstood

In October 2023, my passive income took a significant $150,000 hit, representing a decrease of 39%, following the purchase of a new house. It was funded by proceeds from selling public stocks and bonds. The decision to buy the house with cash was agonizing, as we didn’t need a nicer home. It also meant we

Waiting to collect Social Security increases your monthly benefit payments, but only 10% of non-retirees plan to wait until 70 to maximize their benefits, according to the 2023 Schroders U.S. Retirement Survey. While it’s understandable that many don’t want to keep working into their 70s, waiting to collect Social Security doesn’t necessarily mean waiting to

After delving into the exorbitant prices of new luxury cars, I’ve come to the realization that a larger segment of the population is purchasing such vehicles than I initially thought. This trend poses a significant problem for those striving for financial freedom, which is why I’ve come up with the House-To-Car Ratio guide. I see

If you’re a book collector, I wanted to give you a heads up that the first print of the first edition of Buy This Not That is almost sold out. My editor at Portfolio Penguin informed me that the next print of the first edition will arrive in their warehouse on April 24, 2024. Subsequently,

One of the most commonly asked questions I get is whether I had to make sacrifices in my pursuit of FIRE (financial independence and retire early). When they refer to sacrifices, what they really mean is whether I missed out on the typical fun experiences of a young adult. My response is consistent – yes,

One popular retirement savings tool is the 401(k). These employer-sponsored plans offer unique tax benefits, and your employer might match some or all of your contributions—but 401(k) fees come with the territory. That could eat into your savings and deplete your nest egg. Understanding your plan’s fee structure can help you minimize or avoid 401(k)

In 2009, I established my first rule of FIRE: generate enough passive income to cover your basic living expenses. Once achieved, you attain financial independence and the freedom to pursue your desires. Since then, various permutations of FIRE have emerged, one of which is Coast FIRE. Coast FIRE involves front-loading your retirement savings and then