Objectives for 2018

Most businesses operate under a system called management by objectives. In order to align everyone’s behavior, employees will typically have an integrated set of business objectives in order to reach a company’s overall business goals. If an individual employee succeeds with some or all of their objectives they typically get a bonus.

There is no reason why a similar set of objectives cant be set at a family level in order to focus and foster good behavior to meet the family’s needs.

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December Financial Update

So that was 2017. By any standards from a market point of view it was pretty spectacular with all major markets up by 20% or more. I don’t think this year will be anywhere close to this but clearly this is the kind of results that makes it important to be involved appropriately in the market.

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Dividends Day

Now that the holiday period is over it’s back to the twice weekly publication schedule. During the last few weeks there has been a slew of major holidays, Christmas, New Years, Hanukkah and for those with mutual funds Dividends Day!

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The Family Business

As someone who in a previous life spent a lot of time creating and interpreting business spreadsheets I like to look at running our family’s finances in much the same way as I would a business.

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Whats Your Net Worth?

Do you have $1? If so congratulations! You are doing better than at least 10% of all US households. If you look at the chart in this report you can see that the cross over into positive net worth is somewhere just north of the 10th percentile.

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Playing Games – Part 2

Last time I was talking about board games with a quick overview of five of the games we play the most in our house. This time I will overview another five.

Firstly though here are a few useful resources. For research on board games I highly recommend boardgamegeek.com. This comprehensive website has forums, videos, reviews and news on all aspects of board gaming. If you are looking for a new game this is the best place to start.

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Playing Games

Looking at other personal finance blogs it seems that board gaming is a popular hobby. I think this is because it keeps the mind active, it only requires a one time investment and brings families and friends together.

We are no different, we love board games and try and play them several times a week either as a family or just the two of us during the week (especially during winter when we can’t get out that much).

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Required Minimum Distributions on an Inheritance

One of the vagaries of the US tax code is dealing with retirement income from a 401k or an IRA. Both are similar investing vehicles, a 401K is usually offered by a workplace and people invest up to $18,000 a year of post tax income. IRA contribution limits are smaller (up to $5500 per year) and are used by self employed people or after leaving the workplace. It is normal once you leave a job to convert your 401K to an IRA under your control for example.

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November Financial Update

Last month of the year, the final hurdle. Everyone is well into the holiday spirit and we are finalizing the last things we need to do before the end of the tax year. December is pretty busy as it’s also the month when most of our dividends come out as well as our required minimum distribution. I’ll write about those later in the month.

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DIY is not so bad

Initially this blog was supposed to be alternating accounts of how we attained and now maintain FIRE (Steve), and what we do in our new life as reasonably young retirees (Tuffy). Steve perseveres with his side of the blog, I fall miserably short of the initial goal. The reason for my failure stems from an initial expectation that I would have heaps of free time, however, my hours fill so quickly that reflection and committing those reflections to a form others would care to read remains elusive. I like to think Steve reads and thinks about so many other blogs during the times I drive kids to school or tennis or swimming, but ultimately I know he is just better at it than I am. So please forgive my lack of consistency in posting blogs and remember that when one retires all that ‘free time’ does not really exist – it fills up more quickly than one can imagine leaving you breathless as to how you coped with it all while working full-time.

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