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That’s it. I’m done. My work at the family box factory is officially over. For better or worse, I am now a full-time writer. (More on this later in the weekend.)
It’s going to take me a couple weeks to catch up with all the things I’ve been neglecting around here, but by the beginning of April, I should have developed some sort of routine. One of my objectives is to devote more attention to reader requests. I enjoy researching the topics you suggest. I also hope to conduct more interviews, and to provide more frequent book reviews. And, of course, I’ll devote time to finding ways to save and make money.
As a launching point, I’m opening the floor to you to suggest topics for future articles. If there’s something you’d like to write about, please leave a comment here. If there are topcis you’d like to see covered, now’s the time to mention it. Feel free to tell me what you’d like to see less of, too. Lastly, if you have a question for a future “Ask the Readers” installment, this is a good place to share it.
It’s your chance to help shape the future of Get Rich Slowly!
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March 7th, 2008 at 12:27 pm
I’d really like to see an article about health insurance for people who are self employed, freelancers, or own a small business. It’s the #1 reason why I am scared to leave my corporate job.
March 7th, 2008 at 12:41 pm
Ooo - escapee took my answer. I would echo those sentiments word for word.
March 7th, 2008 at 12:48 pm
Congrats on going full-time with GRS! I’ve been an avid fan of this site for some time, and it’s been a major help in my becoming debt-free.
I’d like to know more about what people are doing differently after they’ve eliminated all debt. In particular, are they going back to school, starting their own businesses, etc? If they’re going back to school, how will an advanced degree help them going forward?
I’m considering going back for my MBA, but I’m unsure how it will help my career (besides just being fun to be back in school). I guess I’d just like to know more about what others are doing after they’ve met their goals.
March 7th, 2008 at 1:19 pm
No real request, but congrats JD! That’s awesome! I’m sure you’ll be able to make this site even better now!
March 7th, 2008 at 1:23 pm
Congratulations on going to full time writing’s. I recently found your site about a month ago and get get enough of it.
Thanks for all the information.
March 7th, 2008 at 1:29 pm
Yes… I’d like to suggest:
How people who are frozen in fear about money, can learn to begin their journey; ie: “a journey of self-efficacy”. I have heard that one reason people don’t make beneficial dents in their financial issues is because it’s too frightening to undertake’.
March 7th, 2008 at 1:30 pm
The joys of being a professional writer! I enjoy it quite a bit. Congrats on taking this big step!
As for me, I’d like to see a little more on long-term, practical investments.
March 7th, 2008 at 1:30 pm
And congrats, JD!
March 7th, 2008 at 1:35 pm
I would like to have more information on dealing with low credit scores. Best of luck in your new career, we are already lucky by having you.
March 7th, 2008 at 1:48 pm
Just wanted to say congrats J.D. Not many people have the opportunity (or the guts) to pursue their dreams full time. Good for you and the best of luck.
FT
March 7th, 2008 at 1:52 pm
How about something on creative ways to find a job (especially for liberal arts types) in a tough economy? You may have already covered this, so I’ll take a look, but it never hurts to rehash it again! Thanks and congratulations.
March 7th, 2008 at 1:55 pm
What a great feeling, you are in charge of your destiny.
March 7th, 2008 at 1:56 pm
Awesome JD, thanks for inspiring us to follow our dreams.
I’ve had something nagging me lately that I think would make a good Ask the Readers segment. I’ve been doing awesome with personal finance since I began to take it seriously 3 years ago. I got jump started by reading Your money or your life. It was the gateway book led to many others I’ve since read in the genre.
My issue is with the save now spend later mentality, versus save now spend now on experiences I won’t be able to have when I’m older. My friends have recently dropped $2-3K on trips to Asia, scuba in the islands, European vacations, etc. I’ve done traveling in the past and enjoyed it, but I haven’t done any in the last few years and don’t miss it much. Should I feel bad that I’m not participating in these experiences now. I tell myself that I’ll have plenty of time to do this when I’m older but they raise a few good points. When I’m older I may not be in as good health, or otherwise physically able to participate in many of these activities. Participating in these experiences now means I’ll have the experience to draw on for the rest of my life, and it will enrich me and make me more worldly. The other side of the debate, the one I’m currently on, is getting over the reluctance to drop this kind of money on a 10-day trip annually. Even if I know I’d enjoy the trip, I’m going to feel guilty spending all that money that I know will bring me closer to my goal of financial freedom (the crossover point from ymoyl).
March 7th, 2008 at 1:58 pm
I’d like to know more about the following topics:
1. Investment properties: how-to’s, pitfalls, pros and cons. I own a condo that I might like to keep and rent out someday, when I’m ready to buy a house…but I know I won’t get the same tax benefits once it’s not a primary residence. Just curious to hear more from people who do this successfully.
2. Similar to Wesley, above — would love recommendations from people who have “made it” (out of debt, earning more than they spend) — where do they invest their money, what could I be doing now (in my 30s) that could have huge benefits later on? I’m talking about advice beyond saving money, having an emergency fund, contributing to a 401(k)…once you’re doing all of that, what is the next step, big or small?
3. Couples and finances. I’d like to hear more from couples who merge finances, or keep everything separate, or anything in between. Also, how do couples resolve financial disagreements, especially when they don’t earn the same income? And do they split all costs 50/50, or contribute the same % amount of each salary to the household? I’m not looking for the “right” answer, just more information.
March 7th, 2008 at 2:02 pm
I submitted a guest post awhile ago and it’s ok if you don’t want to use it, but I think some people might be interested in commuter relationships and/or marriages.
Congrats on your new gig. Is this sooner than expected?
March 7th, 2008 at 2:05 pm
Congrats on going full time. I would like to learn more about annuities. I know very little about them and from what I hear they are very confusing. I think that would be a good post for a lot of people.
March 7th, 2008 at 2:06 pm
This is an odd request, considering that you’ve become a full time “writer”…but I’d like to hear a Get Rich Slowly podcast.
Here’s my line of thinking: The average person can only read so many posts per day. In my RSS reading I’ve noticed that as soon as blogs start increasing their output, I slowly become overwhelmed, and my reading of that blog declines…or even stops if it becomes too much. Also, reading requires 100% of my attention, whereas I can work while listening to a podcast (and commuters can drive, for that matter).
Anyways, just a wish…maybe it would be something worth experimenting with, right?
March 7th, 2008 at 2:11 pm
Good for you, JD! Hope things go well!
March 7th, 2008 at 2:13 pm
I’d like to see categories set up, where some advice can be designated for beginners. I love reading the site, but I’m a COMPLETE novice. Having a beginner, baby-steps area would bomb-diggity.
March 7th, 2008 at 2:21 pm
I would like to see more articles on finances related to students and travel. Also, some investment strategies for students would be nice!
March 7th, 2008 at 2:23 pm
We love you, J.D.!!!!!!!
March 7th, 2008 at 2:31 pm
I’d like to see less of the “how not to fall for advertising” segments. They come across as very anti-corporate, which is a tired sentiment.
March 7th, 2008 at 2:31 pm
A beginners’ area is a great idea.
@Don
I have no intention to increase the current output. Currently my schedule is this:
* one major post every weekday morning
* a minor post every weekend morning and on most weekday afternoons
* a links post 2-3 evenings per week
Instead, I hope to focus on increasing quality. I really want to learn more about personal finance so that I can write more intelligently about the subject. (At the same time, though, I don’t want to become some financial wonk. Those guys bore me to tears. If I become one of those guys, I’ll be mortified.)
A podcast is definitely one of the things I plan to do in the future. It’s on the list of things to do, and I have several enthusiastic readers hoping to help me along.
@Moneymonk
Yes, it feels great to be in charge of my destiny, but it scares the hell out of me, too…
March 7th, 2008 at 2:41 pm
JD,
We can take your moneyhacks section and turn it into the GRS begineer’s primer.
Also, the podcasts will be excellent.
I’d like to know what folks might want more from the forums and such there.
March 7th, 2008 at 2:44 pm
Congrats! you’re an inspiration.
1) How to apply GTD & tim ferris’ 4HWW’s principals to personal finance.
2) Money Makeovers (Money Makeover Mondays?)
3) Like the others above, I really, really, really want to know how others live after they’re debt free. I know I’m supposed to visualize my goal (for ex: how will I live in a post-debt state), but I’m having trouble with this. So I would love to see how others go about their day-to-day activities post-debt vs. pre-debt. what changed? I want to know everything about living a debt-free lifestyle. As a postdebtor, what snags did you hit? How is a post-debt reality different than what you expected during your pre-debt period? How do you raise your standard of living (with the money you were paying to debt) without slipping into your old ways and spending too much? etc. There is soooo little on the particulars of living a debt-free lifestyle on the web.
Thank you for asking for our opinion!
March 7th, 2008 at 2:47 pm
Congrats JD! Please keep letting us know how it’s going from your POV, too. I’ve been referring all “how do we deal with debt” questions to your site.
I echo the nomination of having health insurance without employer benefits, especially for people with pre-existing conditions and families.
March 7th, 2008 at 2:52 pm
Congrats on becoming a full-time writer!
-What do you do when you are still in school and still accumulating debt?
-A post on self-control tips when it comes to impulse spending
-I love the posts where you include comments from your lovely wife. Her wit cracks me up.
March 7th, 2008 at 2:56 pm
Congrats! I’m one of your international readers and like it when you highlight international PF blogs, perhaps you could have occasional compare and contrast posts, i.e. pensions options in UK/US/Canada, tax issues etc. I’m sure I’m not your only international reader and hopefully your American audience would be interested in learning about more about finance elsewhere.
I’ll keep reading regardless, of course!
March 7th, 2008 at 3:19 pm
Congratulations! That is quite an achievement. Keep it up. I’m enjoying your site!
March 7th, 2008 at 3:26 pm
Congrats JD!
I’ve enjoyed reading your posts for about half a year now. As a graduate student about to graduate this May, I have a few questions that I’d love to hear (or I guess read) you discuss. And, I apologize if you have addressed these in earlier posts (and I just haven’t found them in the archives yet - ha!).
“When I graduate, what’s the best thing to do with my money from my first job while still enjoy my new freedom from school?”
“What are the top 5-10 books to read about money? What are the top 5-10 books that you recommend for reading which are NOT about money?”
“How do I take advantage of economic trends (especially with stocks a lot cheaper right now)? Should I go for this strategy or stick to Index funds like you recommend?”
“Who are your personal inspirations outside of the net? (i.e. historical people, current leaders, family, friends?)”
“Should I support a presidential, mayoral, or any other type of candidate monetarily?”
Hopefully, this list isn’t a complete repeat of ideas presented by other people (sorry, I didn’t carefully read the rest of the comments).
Good luck with this new transition!
Matt
March 7th, 2008 at 3:36 pm
I’d like to know about Exchange Traded Funds.
Right now, it’s a buzzword to me, and that’s all I know about it.
But, then, I haven’t done any research on them, either.
March 7th, 2008 at 3:42 pm
Congratulations J.D.! Very motivational move
I’d like to know more about how people are managing credit card balances while getting out of debt. Do they do balance transfers? Would that hurt your credit score? Other type of debt consolidation? I’ve heard of prosper.com Any opinions on the site?
Thanks,
Charlotte
March 7th, 2008 at 3:48 pm
Just adding my congratulations and good wishes on the job switch!
one angle on the “what happens after you’re debt free” topic might be some more pieces on how to define “enough” — i can’t remember if you have reviewed “the number” by Lee Eisenberg, which I think is pertinent to that, since for a lot of people getting out of debt is just step one to “feeling secure for life” and that seems to be a moving targe for a lot of people…
March 7th, 2008 at 3:51 pm
Congratulations on taking a big leap!
I’m really interested in how a paper-free finance systems (ie, all online statements, online bill paying, etc) works in terms of long-term recordkeeping. My first career was in a bank, so I keep all paper for 7+ years. I’m a little afraid of letting go of my paper security blanket.
March 7th, 2008 at 4:10 pm
JD:
One thing I’d like to see you explore are the ins-and-outs of finances and expatriation to another country (temporarily or permanently). I’ve got a goal of moving out of the US sometime in the next few years, which has made me start researching a whole host of questions for me such as:
– taking a student loan or other debts with you,
– getting credit (or not) in the new country,
– US vs. new country taxation,
– ways to find out what’s similar and different about their banking system,
– how to transfer your assets from the US to another country safely and legally
– what the heck to do about 401(k)s and IRAs
– what to know about Social Security and the expat
– what to expect in terms of the costs of moving and immigration fees
–financial pros and cons to seeking dual citizenship vs. renouncing US citizenship vs. just being a guest
etc.
March 7th, 2008 at 4:12 pm
I’d actually like to see some better site navigation and archives categorization. Set it so that we can see/search posts by categories such as ‘Credit Cards’, ‘Investing’, ‘Book Reviews’, etc.
March 7th, 2008 at 4:13 pm
Just wanted to chime in with my congrats, JD. The world will be better with more of your writing in it!
March 7th, 2008 at 4:21 pm
Here goes:
Articles on happiness and positive thinking.
Books that changed your life.
Essays that changed your life.
How-to articles re: getting started in real-estate investing.
Ideas for entrepreneurship and home-based businesses.
Ideas for generating passive income,i.e., realistic “schemes”, hehe.
An interview w/ Kris.
SIMPLE, frugal meal ideas that anyone could make.
Articles on Eckhart Tolle and practicing the Power of Now in everyday life.
Stress reduction.
Videos, i.e., day-in-the-life type videos (just for fun
More motivational and personal development articles a la Zen Habits and Dumb Little Man.
The Meaning of Life.
At least one book review a week, even more would be better, tho.
You could do product reviews of what you consider to be all-around good products for us to use, “I really recommend The Hoover Vacuum Cleaner to my readers because blah blah blah.”
An *updated* list of the best web resources for PF and personal development.
Life-is-short type articles.
Ayn Rand.
A review of The E Myth Revisited, which is the *greatest* book ever written re: starting your own business.
Fiction reviews, like anything by Horatio Alger, Jr.
Biography and autobiography reviews of great men like Sam Walton, Andrew Carnegie, etc.
Salesmanship and guerrilla marketing.
Star Trek.
March 7th, 2008 at 4:35 pm
Congratulations, JD. I know you’ve worked hard for this and that it is *VERY* scary.
I did the voluntarily-unemployed thing for a few years. Which is NOT the same as self-employed, but did involve the OMG I quit my job will I be okay?!? freakout, figuring out health insurance, and so on. So if you think it would help to talk, let me know.
March 7th, 2008 at 4:48 pm
Oh yeah –
stuff on the ideas of Jean Baudrillard and Jean-Paul Sartre that pertain to PF.
March 7th, 2008 at 5:05 pm
Also, one post that could sorta serve as a Unified Field Theory of *everything* that’s written about here on this blog, like a Theory of Everything PF kinda post. Leo sorta did this for his site, and I’m pretty sure it’s his most popular post ever:
http://zenhabits.net/2007/05/handbook-for-life-52-tips-for-happiness-and-productivity/
Can you tell I’m excited about you becoming a full-time blogger, J.D.? It’s like the best literary news out there right now!!
March 7th, 2008 at 5:05 pm
Congratulations and welcome to the world of the self employed. I did it six years ago and wished I had done it sooner. As far as future topics…..I like to see some discussion regarding budgeting and managing cash flow when self employed. I am an architect with a small business here in Portland and trying to become debt free is tough when my receivables in any given month fluctuates, depending on the work flow that I have. Any ideas on how others stabilized the cash flow in their businesses would certainly interest me.
March 7th, 2008 at 5:24 pm
Congratulations on finally stepping out.
I’m still looking for an article on pre-nuptial agreements. I think it’s VERY important to look at when it comes to finances, but I’m too lazy to find out information on it myself, plus, a lot of the readers will probably have input on the topic.
March 7th, 2008 at 5:32 pm
I second the “money makeover” idea… Basically on a weekly or monthly basis, someone agrees to lay it all out for you to analyze… bonus for not having the same situations , to show the different ways that someone can get into debt (ie over use of credit cards, medical bills, education that maybe isn’t paying off, ways you can end up owing taxes).
Comparison of some of the options of health insurance out there (stuff like MyBlue, or whatever it’s called) offered as a low cost insurance for young adults/people between jobs/etc, and what kind of coverage it really is. (Or at least an explainer of different terms, I’ve taken a college class on health insurance and it can be pretty crazy to understand even after that.)
March 7th, 2008 at 5:42 pm
My dream is to take a 6 month to one year hiatus to travel the world. I’m currently in my mid 30s. I want to travel while I’m still young and really able to enjoy myself. I have often heard about people traveling the world but I never could figure out how they were able to afford it. Yes, the guy who wrote the book 4 Hour Work Week discusses this and that’s fine, but I would really like to hear from a real person who didn’t attend a Ivy League School or is a trust fund baby. It would be great if you could interview a few regular, everyday people who have done this.
Thanks in advance for your help.
P.S. I have really enjoyed reading your blog. Also, Big Congrats on leaving the cube farm.
March 7th, 2008 at 6:07 pm
Well, first,
Congrats on the major shift from the “boxing industry” to being a full time writer.
I will be enjoying vicariously your new career.
Actually I am working myself on becoming a educational/information product producer.
So watching is you is to a degree, watching myself in the becoming.
I would welcome any blogs or opinions about your personal/mental states as you are entering the new direction.
Thanks
Rob
March 7th, 2008 at 6:14 pm
I don’t have any suggestions right now, but I want to say congrats on becoming a full time blogger! All the best!
Peace.
March 7th, 2008 at 6:29 pm
I would love to learn more about ways to help my parents financially as they grow older. Love the blog, thanks for all the great information!
March 7th, 2008 at 6:53 pm
Congrats JD! I second the request to see an article about the save now/spend later way of thinking. I’m on the opposite side from the person who suggested this. I have traveled a little in the past before I started digging out of debt and I DO miss it. The argument is true that by the time I have the money to go places, I’ll be to old to enjoy it fully.
I know that we should save for small things while working out our long term goals, but I guess I’d like to see something about striking a balance between the two. How do we calculate how much money we can spend for travel/fun etc??
March 7th, 2008 at 7:28 pm
I’ll continue the standing ovation! You’re doing what every person with a blog only dreams of doing.
My suggestion: Any non-obvious tips on how to survive the current recession? It’s obviously only going to get worse, and possibly much, much worse.
March 7th, 2008 at 7:28 pm
Hi JD
I would like to see information on the actual cost of having children. Hospital costs -even with insurance. How much is typically covered by insurance if at all. Doctors check ups the first couple of years, shots, etc. I have seen many articles stating the cost being over a $100,000 up to the age of 18, but a breakdown would be very beneficial.
Me and my husband are still a couple of years away from having a child, but we would like to be prepared to know before hand to anticipate all of these costs as I intend to be a stay -at-home mom when we have our child.
I would also like to know when is the best time to invest in life insurance? What type of coverage is the best and most beneficial, etc?
Any tutorials of advice on investing (stocks, mutual funds, etc) for beginners. That would be very beneficial.
Tips on getting through this recession.
Thanks so much.
March 7th, 2008 at 7:44 pm
Hi JD,
I understand that this is ‘Get Rich Slowly’ but in terms about writing more on making money, how about doing a segment profiling successful entrepreneurs who’ve steered away from the 9-5 scene (although I know you like writing about extreme frugality and those who become rich saving up through time), but like it could be about entrepreneurs who found ways to succeed in starting a small business that grew into a large business and more on how they succeed, tips, and a whole genre of things on the subject. Let me know what you think =]
March 7th, 2008 at 8:21 pm
Hello JD,
What books can you recommend regarding starting a side/full-time business?
Can you also post a topic about managing cash flow in your business? Like how much salary you get through your business etc.
Thanks!
March 7th, 2008 at 8:41 pm
Congrats on the career move! Things must be going well for you…
March 7th, 2008 at 8:46 pm
Congratulations! What an accomplishment!
I’d love to read more about investing strategies, assett allocation, some thoughtful articles on particular classes of mutual funds, etc. How to invest for an early retirement would also be of huge interest to me.
March 7th, 2008 at 9:08 pm
Ms. ATL,
We traveled for 6 months in Europe, US and Asia. We saved 6 months worth of living expenses, rented out our home then quit our jobs. Took us about 3 years to save the money. Totally worth it to travel while you are young, we are in our early-30s. Cheaper too, than making 10 or so separate trips. Also we were more willing to sacrifice convenience at times to save money. Just be careful and make sure you have cash when you get back to use until you get a job. It is not for everyone but certainly achievable. http://www.cosmicadventure.com
March 7th, 2008 at 9:36 pm
This site helped me get out of debt, but I rarely see much about what comes after that. I’d appreciate some articles focused on wealth building rather than debt elimination. Starting a business, moonlighting with profitable hobbies, investing, real estate, etc. would be great. Also, some macroeconomics and some info about how political issues are affected us individually would be interesting.
Thanks for a great blog!
March 7th, 2008 at 9:36 pm
Congratulations! You have done what you wanted, that’s fantastic.
I’d like to know about how to do retirement planning with a pension. My husband will get one, he’s a professor. We’ve got at least 30 more years of employment, and I’m unsure if things will change. Last time I looked, I found very little out there.
I’d also like to hear about planning for a world where the oceans have risen a bit, flooded Boston perhaps. Where would be a good back-up place to own a house?
I really liked your piece on social currency. I’d like another article on this, perhaps about how a family/friend/strong neighborhood can be part of a financial plan.
Thanks so much for this site. I love reading it.
March 8th, 2008 at 12:43 am
Congrats on the transition–your blog has become required daily reading for me, so I look forward to future articles!
My suggestion would be articles on how the intersection of environmental concerns/awareness and frugality. A lot of frugal habits are also environmentally friendly, but a lot of them–buying organic/recycled, for instance, require a much greater cost commitment. (Paying $15/$20 a pound for organic meat instead of going for the frugal cheapo cuts, for example…)
I’d love to see your take on when it’s worth it and how much to spend–especially when money is tight (and the price of gas and groceries is already going up!). Thanks!
March 8th, 2008 at 3:21 am
I love your blog, it’s interesting and varied - so congrats. If I were in the US I’d sure ask you about my situation at work, alas, I’ll have to see my accountant instead
ciao
March 8th, 2008 at 3:40 am
Congrats!
I know this was mentioned, but I’d also like to see a post about paying back student loans
-how exactly it helps to make a huge lump sum payment on a student loan
-how consolidating helps
-how a payment to AES/Sallie Mae gets distributed when the loans are consolidated (between principal and interest..)
Thanks!
March 8th, 2008 at 7:35 am
Hi JD - here are my suggestions for content I’d love you to write about:
1. Refilling inkjet printer cartridges - pros/cons/savings?
2. What to do if you get a windfall of money and live in the UK (c.£20,000)
Best wishes, keep up the good work - I love your site! JC.
March 8th, 2008 at 7:38 am
J.D., congratulations - you’ve taken the right pill and gone down the right rabbit hole. Welcome to a new world.
I’d love to see an article about why the “get rich slowly” method is better than any “get rich quick” method.
March 8th, 2008 at 8:35 am
Congratulations on you move. It appears that you have done all that is necessary to ensure its success.
Best Wishes,
D4L
March 8th, 2008 at 8:58 am
Congratulations JD!
I’d like to second the requests in 35 - the ins and outs of planning relocate to another country for (or before) retirement and financial considerations.
March 8th, 2008 at 9:01 am
I am a recent college graduate and would like to see an article on how we should approach our savings/investments as we begin our new lives. The pressures of finding an adequate place to live, a job, all the while dealing with the possibility of not having money at our time of retirement is daunting. Not to mention those hefty student loans…I’d like to see something geared towards our age group!
Thanks and Best Wishes,
E
March 8th, 2008 at 9:02 am
J.D., you rock! Congrats — I heart GRS, so keep it going as well as it’s always been.
I’d like to express my additional support for 2 ideas I’ve seen in the comments a few times:
1. Articles on the topic of self-employment (a dream of mine that I’d like to conquer in the next 3 years or so)
2. What do you do when you’re out of debt? That’s another goal I’m getting closer to (with your advice!!)
March 8th, 2008 at 9:12 am
Hi. Important topic to write about may be the role of the FDIC. What is the role of the FDIC? Steps to follow if a bank fails. How do you get your savings if your bank fails.
Thanks!
March 8th, 2008 at 9:18 am
What do you do when you’re out of debt?
Answer: You build wealth! You now have extra money that can go into things like mutual funds and real estate. You can also have some more fun, too! Buy some nicer furniture, take some nicer trips, get that plasma or whatever. It’s like Dave Ramsey says — “If you will live like no one else, later you can live like no one else.”
March 8th, 2008 at 9:23 am
Hi JD, this is my first comment but i’ve been reading for a few months now. Congratulations on your “new” job!
I would love to see a post about financial planning for long-term travel. I have many friends that have taken three- or six-month backpacking trips, but come home with their bank accounts completely drained and have to start from square one. I know that’s a bad idea, i’m just not sure what steps to take to make sure I’m in a good financial position both during such a trip and after.
Thanks and keep up the good work!
~amy renee
March 8th, 2008 at 9:27 am
“What do you do when you’re out of debt?”
Cover the hole that got you there in the first place and put a big honkin’ sign on it to remind yourself never to do that again. Then, start building wealth and sharing the knowledge you gained to break free of debt.
March 8th, 2008 at 9:31 am
JD,
Congrats!
I’d like to learn more about “whole life insurance,” something my parents are swearing they are going to buy for me (or at least take care of the premiums for the first couple of years and then load me up and force me to take it over). The little I’ve read about this product scares me, but I’m not an expert. Should I be running for the hills?
March 8th, 2008 at 10:41 am
Way to go!
I’d like to hear about how to invest in current times with inflation, fears of deflation and recession, depression, etc.
I’m located in Europe and just sold a house while the going was still good (in some countries overhere the bubble has popped, in others not yet). I’m now trying to figure out how to invest the resulting cash (the stockmarket is way down, but may go much lower, who knows).
March 8th, 2008 at 11:10 am
So I’ll add my best-est wishes for the grand adventure and toss an idea into the fray…
For those of us who are comfortably 9-5 employed and intend to stay so for as long as possible over the next few years…
Ideas on additional streams (non-current employer related) of income that would fit within the working man’s paradigm –practical and far out–would be welcome!
Cheers!
March 8th, 2008 at 11:23 am
Hurray! Congratulations on the success of your hard work to bring you to this place; may you enjoy every single moment of your new venture. And thanks for the great columns -what you do here at GRS is truly valuable to all of us. Have fun!
March 8th, 2008 at 12:18 pm
I would like you to cover more different aspects of being Green with your money.
How to make money and make a difference in the world. The main resource I use has been around since 1992 called The GreenMoney Journal at- http://www.greenmoney.com
March 8th, 2008 at 12:28 pm
Here’s my dilemma, do bank cards (debit/charge card combos) with a %5 interest on your charges (12 transaction minimum per month or no interest) really “make” or help you save money? I say no per reading Ron Blue’s book Master Your Money. He says that a person will spend 30% LESS money just by using CASH (Abrahams, Lincolns, Jacksons, etc.) for monetary transactions. My husband says “Lets use the debit cards to get that 5%!” I’d LOVE to see an article on this topic!
March 8th, 2008 at 12:41 pm
JD, you should research and write about the Couch Potato Portfolios suggested some 20 years ago by Scott Burns, syndicated writer. He’s now founded http://assetbuilder.com Hope to see you do it, you readers will thank you!
March 8th, 2008 at 12:43 pm
Congrats.
I found this site two weeks ago through Google Reader and now I’m hooked.
I’d like to see some reviews on personal finance software ie Quciken, Microsoft Money, etc.
Maybe more importantly I’d like to see how you actually use the software.
I bought Quicken several months ago, tried it for a few days, didnt ‘get it’, and then never touched it for two months. It seemed overwhelming. And it’s not like you want your friend to come over to show you how it works and let him peek into all your finances. Im slowly learning it now by myself (though Im sure I only use 10% of the program.)
March 8th, 2008 at 3:53 pm
That’s great JD, congrats! I wish I could do the same…alas I’ll be stuck with the day job a while longer.
March 8th, 2008 at 4:57 pm
Congrats!
I have enjoyed using GRS and find it a daily stop when I get on the net.
Please excuse me if some of these that I mention have already been done in detail (I am kind of new) but these are a few things that I would like to know more about.
1. Getting a will done. Steps to take either going through a lawyer or using software or online site.
2. How to buy stocks. Where to buy stocks and all the fees involved.
Being a small investor I would like to use some of my Roth allocation to buy stock in a company or two that I really like.
3. I would also like to hear how people give away their money to those in need. Anything from a nice tip to a waitress, to random acts of kindness, to big gifts to churches or organizations. I think this would make a great thread that prople could keep adding to over time.
Just my $.02
March 8th, 2008 at 7:12 pm
First, congratulations. I wish you nothing but success.
I hope I’m not being repetitive but I stopped reading the comments somewhere in the 30’s.
I’d like to see something in depth on Health Savings Accounts. How much should I fund it; should I invest part of it in the stock market; HSA over retirement; etc.
Thanks in advance.
March 8th, 2008 at 10:38 pm
That’s great. Congratulations.
I recently discovered your blog — actually from the zine, Real Simple, and I’ve been going through your articles.
My wife and I recently had our first child and I’m beginning to see life a lot differently.
I’m a teacher and my wife is an assistant, so we don’t make a lot but I’ve been wanting to buy a piece of property near a university in order to rent it.
I was hoping you could write an article regarding people, friends and/or family who pool their money together to buy property. What goes in an LLC plan? Do we need a business plan? What agreements should we make?
Thank you so much,
looking forward to anything you write about.
March 9th, 2008 at 6:37 am
Congrats on taking the big step!
I’d like to hear about investment options other than the stock market. I’ve been participating in the 401k at work for years and that’s where all my investments are. I’m diversified across several funds and bonds. However, it’s all still in the market. What are other options for investing? (Dealing with Tenents has kept me from investing in real estate
)
March 9th, 2008 at 6:47 am
Color me green. I worked at home/ independent with a partner for nearly two years and miss it greatly. I did enough to stay afloat but worked extremely hard. When I lost a client that was a major form of income, I had to go back to the traditional work environment. It has proven to be a standard success factor, but I am not entirely happy. I would agree that with use of any creative and/or new debt reduction tips you may have (I know this site has been full of them since I started reading) in addition to different motivations and views such as the 4HWW are great to focus on.
I know for me, I have owned a home for four years but my personal life has gone downhill and life outside the home (unless it’s work) really doesn’t exist. Sure, finding contract work on the side helps and doing well at the corporate house will get me steady increases, but maybe more articles kind of like what you had earlier like “feeling rich is being happy with what you already have”. Those are important reminders that (I) we dont live in a slum and eat out of the garbage. I may not go out with friends more than once a month for a couple drinks but I am not struggling to live.
Last thing I have is that I live in suburbia and have wanted for a long time to move into the mountains and get a chunk of land to build the dream home on. At my current rate, I may be able to perceivably afford the land, but not the home nor have anything to pay for things I need once I get there. Sure, I can go solar and find ways to live off the land to a degree, but how to get there is important while I am employable. I have thought about becoming a property investor while real estate is in a slump. Surplus banks not able to lend out to new people = cheap housing for those who are willing to take a risk. The market WILL rebound at some point, its just going to be like a steady stock investment. The days of tyrant RE developers may be over for some time now. So, I guess, maybe articles on how to make real estate work as financial growth in the current economy as it stands.
Thanks for the cool collaborative site.
March 9th, 2008 at 7:19 am
Two topics - how to talk to family members and friends who are on the verge (or already in) financial ruin in terms of accumulating debt and not saving for the future.
Also, disability insurance. How to buy it and what to look for when doing so.
I know I said two topics, but here’s a third. How to ensure that your kids are financially smart when they grow up.
March 9th, 2008 at 7:25 am
What do the financial gurus mean when they say to max out your 401K or 4o3b? Do they mean the full dollar amount allowed? Or, do they mean up to the amount matched by the company?
Also, what do I do if I am within a couple years of retirement? How should I save and invest?
March 9th, 2008 at 8:33 am
JD, your site is an inspiration!!
I’ll second the suggestion for more on record-keeping. I am itching to jettison my old paper files!
Also, I’m interested in the general topic of talking about finances with loved ones. I just heard a disturbing piece on NPR about elderly people getting bilked by people selling sketchy reverse mortgages. It seems like these people are often isolated when thinking about finances even if they have family members to help deal with other things. If their was more open talk about financial issues, they might have been in better shape to recognize the wolves in sheeps’ clothing.
Thanks for the site! I wish you all the best with your leap!
March 9th, 2008 at 9:10 am
I too would like to see more posts for students who are still accumulating debt, as well as soon to be graduates, and creative ways to find jobs with that liberal arts degree, all of which were already mentioned, because I’m slow =/
March 9th, 2008 at 10:18 am
Congratulations! A friend of mine recently turned me on to your blog and I’m so inspired and impressed by your progress. I’m getting married this year and my fiance and I are working together to create a financial plan.
We’re aggressively saving for our wedding, honeymoon, and emergency plan. We’ve also just opened up Roth IRAs with 2007 money and are aggressively saving to fund our 2008 contribution. In about 2 years we want to have kids and we’re thinking about trading up to a bigger space (I own a small condo that is somewhat price protected as it’s a below market rate unit in San Francisco–which means when we trade up, we will find it nearly impossible to buy within SF).
We have a lot of goals and not very much money, but we’re saving 30% of our net income (after taxes and pre-tax retirement contributions). I have a lot of questions as a newbie to personal financial management (for two!),
1. When is it a good time to work with a financial planner? When it is a good time to consider hiring a CPA? I’ve been doing our taxes on Turbo Tax for years, but I’m thinking a CPA could help us plan 2008 NOW so we can spend and save more wisely, ditto for a planner. Or, are these folks a waste of money if someone is an aggressive reader like me?
2. Where is the best place to ’store’ ones emergency savings? How liquid do I need to keep 6 months of living expenses?
3. What is “too much” of a fee for a stock trade, mutual fund maintenance or any other trade related cost?
4. What is better: no-load or load? If no load is clearly always better, they why do loads continue to exist?
5. If index funds are really better than managed funds, why do managed funds continue to exist? Are these index funds available for purchase with zero expense ratios or purchase costs?
6. When prioritizing financial goals, how does one determine where the money goes? Is it better to hit one goal at a time or do them all at once as they each take a while? Once the wedding and honeymoon are done in July, should I focus all my energy on building an emergency fund or should I fund the Roth IRA? If I do one I can’t really fully do the other. When should I start pre-paying my house? At 5% interest and with an eye to trade up within 2-5 years, does it make sense to prepay the mortgage or should I consider investing?
March 9th, 2008 at 1:13 pm
You could do a post about prospect theory and its relation to people and their preferences related to investing. I’m sure many readers may not be aware of prospect theory.
March 9th, 2008 at 2:40 pm
I would like to see an article or resources for people who are in major financial crisis and who want to avoid BK. An example would be someone who had an ill family member and racked up lots of debt paying their portion of the bills. It could also be about a divorce or previous job loss.
I also think debt elimination and/or basic investing info for people who are single income or lower to middle income.
thanks
March 9th, 2008 at 4:25 pm
Me again. I should clarify my original question: The product in question is a specific type of overfunded whole life insurance, such as “Bank On Yourself” or “Infinite Banking” (both of which seem totally sketchy, but are not the only options for this sort of program). I’m still cautious to say the least.
March 9th, 2008 at 5:26 pm
Nothing to add other than congrats on going full time!
March 9th, 2008 at 8:53 pm
I’ve only been following this blog for a few months, so apologies if these are topics you’ve already covered:
- Frugal Etiquette: How can you tell your friends who want to go to the restaurant with the $10 burgers and then the midnight movie every Friday night that you can’t afford it, when in reality they can’t afford it either and what you actually mean is, “I don’t want to run up more credit card debt like you”?
- “Good Debt”: Other than a mortgage, is there any kind of debt that could be considered good? My boyfriend tells me I shouldn’t be throwing money at my car loan because that money could make more interest in a high-yield savings account. Granted, I’ve never seen a savings account with an APR over 6.5% (my car loan rate), but the idea intrigues me.
March 10th, 2008 at 4:39 am
I’ve always been into action/sci-fi movies. In many of them, especially spy movies, the “Swiss bank account” is often central to the plot…what the heck are those? What’s the benefit of using them?…are they real? What kind of rate do they get? And how about those “offshore accounts” in the Cayman islands?
That might make for a fun article one day
Seems like a cool spy type of thing to do.
This request will self-destruct in 10 seconds…
March 10th, 2008 at 4:49 am
JD, congrats on making the leap into becoming a full-time writer.
I would be very interested to see more on the current mortgage/real estate market.
It seems people know very little about what is going on out there aside from: Housing prices are falling and people can’t afford their mortgage.
I’ve been working as a loan officer for almost 3 years and I’ve developed a customer base by explaining to customers how mortgages work, both the process and the influence housing prices have on that process. It is obviously a very complex issue these days and I would be interested to see what readers know & understand about the issues.
March 10th, 2008 at 4:54 am
One thing that I am curious about, and may be more math than you usually have, might be more along the line of NCN, would be when comparing investing vs paying off, the consideration of long term. My mortgage is 5.875% and even if I put it extra income into savings that is below that, even high yield savings, would the compounding be better even at lower rates, say 3.40 that ING is currently at. Just running some of those numbers.
Also congratulations on going full time, your site has really inspired me to be careful with what I am doing as I just graduated and purchased a home, made sure not to put myself into debt otherwise.
Thank You
March 10th, 2008 at 7:05 am
I’m green with jealousy! :p
I’d love to hear more about venues for retirement savings outside the “usuals” like IRAs, 401ks, 403bs…particularly in reference to retiring early or “outside the box” methods.
March 10th, 2008 at 7:12 am
Love the blog, would like to hear about the following:
1. Passive Revenue streams - switching to autopilot
2. Where do you put your money after debt??
3. Dividend paying stocks / bonds??
I am 27 and have a RothIRA, 401K and savings account, but the the roth and 401K are not liquid and the savings is really low interest 1.16%. I would like a liquid investment that would pay out more than that, I would also like to retire early and need something high interest and accessible before 59.5, that seems like a lifetime away…
March 10th, 2008 at 7:15 am
good luck, jd!
March 10th, 2008 at 7:21 am
Another item that I have been curious about, but never looked into enough, is personally buying stocks in single companies. Is there an easy way for me to choose a company and purchase that stock, with as little fees as possible. It seems like making $10 bucks to cover fees for a trade would kill it.
March 10th, 2008 at 8:02 am
Congrats!! How exciting!! You do such a great job and cover so much, but maybe something on researching/choosing life insurance …?
March 10th, 2008 at 8:04 am
Good luck to you! I am enjoying your posts.
I do have to second the request for info on Swiss bank accounts and offshore accounts….that would be a fun and funny post!
In general I enjoy frugality posts a lot and success stories are always inspirational.
March 10th, 2008 at 8:30 am
I want to hear more about your frugal garden. Growing your own veggies, where to start etc.
Kitchen penny pinching. More posts from Kris!
March 10th, 2008 at 9:03 am
JD,
How about an article about the pros/cons of using a Home Equity loan to pay off debt/fix up the house. I think in some cases, the interest is tax deductible.
Bill
P.S. Keep up the great work
March 10th, 2008 at 9:05 am
Congrats.
I’d love to hear advice targeted to professional students. In fact I’d love to hear an interview about how the heck to get through professional school and still come out in one piece financially. Perhaps and interview with a dental student or med student in a similair situation.
March 10th, 2008 at 9:59 am
I’ve been reading your page for a couple months now and really enjoy it! I find it very inspiring and helpful. I want to become financially savvy (debt-free and financially secure) and I rely on sites such as this one to guide me.
As for suggestions on future articles, I second the suggestion regarding health insurance for self-employed/freelancers/etc. I would be financially able to work part-time right now, but I have spondyloarthritis and so I need to find health insurance that will cover pre-existing conditions. I am also interested in advice on where to invest money. I have an IRA with ING but it is doing pitifully right now. I know that all conventional advice says to keep it and hold out till the market changes, if not actually put more money into it right now while prices are low, but that is really difficult to do… especially with all the doom-and-gloom stories out there. Is there anything giving decent results right now?
Thanks for all your work on this site and congrats on making the transition to full-time work on this site!
March 11th, 2008 at 12:56 pm
Well, this list should keep you busy for years. Please tell us you won’t be outsourcing
Seriously, I’d like to see an update to your post on “In Pursuit of Paperless Personal Finance” - http://www.getrichslowly.org/blog/2007/08/27/in-pursuit-of-paperless-personal-finance/
Specifically, what are the drawbacks with relying on financial institutions for e-documents and what are the best ways to store these online?
Keep up the great work,
Adam Zand
PR for VaultStreet
March 11th, 2008 at 5:41 pm
Congratulations! Good luck on your venture!
March 13th, 2008 at 7:11 am
Hi,
I just stumbled upon your blog this evening. For your suggestions, I would be interested in a section titled “Ive just bought my first place: Now what?”
There’s a number of competing financial issues:
- Throwing money at the mortgage helps in the long term to reduce debt
- Spending less on the staples required to survive helps towards “getting rich slowly”
- For a given, finite income, there has to be a balance between financial priorities and expenses. How best to achieve this balance?
Thanks,
-Andrew
March 21st, 2008 at 1:33 pm
More articles that go “beyond the basics” would be great. “Pay down debt”, “start an emergency fund,” “be careful with credit cards,” etc, is great finances-101 advice, but it’s getting overdone in the PF blogging world.
More content on what you do once you’ve gotten the basics in place would be great. Some ideas are…
- How to deal with getting your financial life in order when others around you aren’t. It can be difficult when your friends are in messy financial straits, but you aren’t. How do you handle that?
- How to responsibly use credit cards. Could entail anything from recommendations of specific cards (US Bank’s REI Visa is a great card, btw) to how to improve mindfulness of credit card spending or pros/cons of credit cards vs. cash.
- Developing and maintaining financial discipline. If you’re getting (or have gotten) your financial life in good working order, that’s great - but how do you keep the momentum going day after day?
- How to grow your emergency fund. Many of us have taken to heart the Ramsey-inspired advice of the $1,000 emergency fund. But once you can increase that, how do you come up with a target number, and way to get there, that fits your circumstances, life and expenses?
- Profiles. Set up a standard questionnaire that you could send someone who has made progress on their own “getting rich slowly” journey. Were they in debt? How did they get out of it? What have they saved? What are their priorities? How do they stay out of debt, or balance debts and savings?
- Your experience on being a full-time writer (within reason, natch there are some things that your MYOB). How you’ve made the transition, how are you settling into the lifestyle? What do you do to make your days more productive? What are the challenges you face, the victories and failures, and how does all this tie in with your changing (and hopefully improving) financial situation?
I echo a lot of the recommendations for more on long-term investments, and couples and finances.
Many, many heartfelt congrats on you making the leap to full-time. Jodie and I are down in Eugene, but I’d love to buy you a congratulatory beer/ coffee/ bevvy of your choice sometime. Many, many congrats.
March 22nd, 2008 at 3:13 am
J.D.,
This is my first comment though I’ve been keeping up with your blog for some time (in fact, I browsed through all the archives).
I think its a fantastic website. It’s great to be able to do what you want. Part of the reason why I went on to learn more about financial planning has to do with your posts, or the posts from others. Money is, a necessary evil, but still an evil nonetheless. It either makes us, or beaks us, really.
Keep up the posts!
p.s. Unfortunately, I’m not from the U.S., so many of the U.S.-related posts don’t apply to me, personally. Nevertheless, the general tips and “strategies” do apply, still. Maybe I should start my own version!
March 23rd, 2008 at 10:14 am
I have been reading GRS regularly for many months. I like the candid personal glimpses into your life.
I would like to see more written about “What to do after one gets out of debt, and before one reaches Financial Independence.”
I enjoy case studies.
Millionaire Mommy touches on this topic a bit, but I find her annoying, and somehow less genuine than GRS.
Also, what does one “do” after financial independence?
I loved Baddriver’s post above, and am struggling with the same issues.
Frugality is great, but we don’t want to squander our todays for the hope of better tomorrows either.
Note the sad parable of the man who scrimps and saves for a luxurious retirement, and drops dead of a heart attack before he retires.
Keep up the good work, and congratulations!
- Nick
March 28th, 2008 at 11:20 am
Hi,
I am starting on killing my debt of USD 60,000. I was inspired my this blog to get started after many false starts.
I working on the emergency fund of USD 1000, USD 800 in the sock and 200 more to go.
Closed all my credit cards except one which I always pay in full. I think I need to close that as well.
I am cash flow positive now so I save about 60% of my salary to throw at debt.
Thanks for the blog.