Too late to Start Saving for Retirement?

It’s never too late to start planning for retirement You might be reading this post when you are in your late forties, fifties or even sixties and thinking that your financial landscape is pretty bleak. You are perhaps thinking about if it is too late to start saving for retirement. Perhaps you have lots of debt, including credit cards, no emergency fund and nothing in the way of retirement savings or other assets such as…

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Book Review. The Global Expatriate’s Guide to Investing: From Millionaire Teacher to Millionaire Expat

Disclaimer: I was sent a free copy of this book by Andrew Hallam, The Global Expatriate’s Guide to Investing: From Millionaire Teacher to Millionaire Expat in exchange for reviewing it on this blog. Overall, I really enjoyed it and would recommend it to any expat looking to get into the investing arena and do it right the first time, instead of through trial and error and losing a lot of money in the process. I…

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Teaching ESL as a Career

When I peruse the personal finance, early retirement and digital nomad blogs around the Blogosphere, it seems like a lot of people were working at “serious” jobs making “serious” money by being a lawyer, working their way up the corporate ladder in some other field or selling things and making lots of money doing it successfully. Then, they left these jobs after hating the 9-5 or more often, the 9-9 kind of life they were…

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Life, post English-teaching in Korea

These days, I’ve been seriously contemplating what my life is going to look like, post-Korea. I have 1.5 years left on my contract and there’s a 99% chance I’ll be leaving at the end of it. I rarely say never, but unless there’s some very compelling reason for me to stay, I’ll go. Going to my homeland of Canada isn’t really an option either since the death-like cold and very short winter days just don’t…

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Retirement and the 4% rule

The often-quoted model of how retirement works is that you need to save up a huge chunk of money which you invest in stocks and bonds, and upon quitting work, you can withdraw up to 4% of it per year and in theory, it should last you until you die. I don’t hate this model, but it seems to me that it’s kind of outdated for the following reasons: 1. People are living a lot…

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Why I have not bought a house

As we all know, home ownership is a money-pit of never ending proportions. Maintenance, mortgage payments, insurance, taxes, major repairs, etc, etc, etc. At this point in my life, I could certainly afford to buy a small house with cash, or a much larger one with a significant down-payment. Except I’ve chosen not to. You might wonder why I’ve chosen not to do this because home ownership has traditionally been thought of an the cornerstone…

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Your Future Self and Money Choices Today

Thanks to my friend “S” for the heads up about this article over on Get Rich Slowly about becoming friends with your future self and resisting splurges today. What this makes me think of is delayed gratification and how important it is in life and with regards to personal finance. It’s a sign of emotional maturity to make long-term goals and to not give into all our short-terms wants that are most often not really…

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The Latte Factor

When people talk about frugality, something that gets kicked around quite often is the Latte Factor. That is people who go to Starbucks every morning and drop $5 on a specialty Latte when they could just make a cup of drip coffee at home and save themselves $4.80 each day, which adds up to over $100/month and more than $1000/year. And I get that. Frugality is all about the small choices you make each day…

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Passive Income and ESL Teaching

If you want to be a digital nomad and build up passive income streams, ESL Teaching might seem kind of like an attractive gig to get into. You get paid to live overseas. And you often get a free plane ticket (Middle East /Korea) as well as paid for, or subsidized housing. And you’ll have so much time to get your online ventures up and running. Sounds fabulous! Except the thing that many people forget…

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Frugal Living: lifestyle creep

I’ve lived in South Korea, working as an English teacher for almost 10 years. For the first 7 years or so, I lived extremely frugally. Like, I always rode public transport and tried to avoid taxis, didn’t have a smart-phone, stayed in the school provided housing and had no pets. And like I would really consider it seriously any time that I spent more than about $5. My weakness was travel, but I almost always…

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Getting Ahead at the Day Job

I know there is much debate in the building passive income  and extreme early retirement circles about whether to focus effort on the “side-hustle,” whether that be investing, or starting online businesses or turning a hobby into a money-maker or whether to focus on the day-job and get on the promotion/pay raise ladder.  For the past 7 years or so, I’ve been focusing on the latter and using that money to invest in dividend paying…

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Don’t quit your day-job

Yesterday on the train, I was listening to the Digital Nomad Podcast Episode #11 about not quitting your day job.  They were talking about the sad stories of people who quit too early to go into things like freelancing or online marketing or blogging and stuff like that, except it sometimes doesn’t work out like you think it will and you end up broke and desperate.  So they suggested the better way is to not…

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