[Good morning!! And welcome to another installment of our Side Hustle Series! Where our guest, Jim, over at Investment Soup digs in and shares a passion gig of his… Perfect for all those who love nature and gardening! I guess money really *can* grow on trees – heyo!)

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The biggest challenge with starting a side hustle today, is navigating the sea of opportunities.

Anyone can come up with a better “mouse-trap” and improve on something, then successfully and inexpensively bring it to market.  Today’s market is global, buyers are savvy, and up until the recent stock market crash, buyers were flush with cash. The internet has been a ‘game changer’ when it comes to product marketing, product acquisition, and education.

Due to the sheer scale of people you’re able to reach, the ability to find someone who will buy your product or use your service is nothing short of astounding.  Truly, the only thing standing in the way of your success when starting a side hustle is that person smirking at you as you stand in front of the mirror.

Now, there are side hustles which require a longer learning curve such as building and growing a website, or starting a drop-shipping business.  And, there are others which call for having a network of contacts, such as a bookkeeping service, but the success of these still requires the person in that mirror to be wholly committed and motivated.

There is however, a fantastic side hustle for those keen on working with their hands, and interested in enjoying one of Mother Nature’s Wonders, known as photosynthesis.

This side hustle, like most others, takes patience, but unlike others is bound to leave your fingernails dirty. This side hustle is also very scalable, and people will literally line up on any Saturday in Spring to trade copious amounts of paper containing the faces of dead presidents for your entire inventory.

It’s called Plant Propagation, and can be done on a very small scale in your garage, basement, or backyard. Or you can become a massive wholesaler who provides inventory to the big box stores. It’s your decision, you get to steer this ship, mate!

So, what is plant propagation? According to Wikipedia:

Plant Propagation is the process by which new plants grow from a variety of sources: seeds, cuttings, and other plant parts.

Or, if you prefer the layman’s interpretation: It’s the act of tossing a seed into a container of nutritious soil, consistently watering and occasionally fertilizing said container, until the seed propagates into a sellable plant. Talk about Growing Dollar Bills; this is it, brotha!

There are 3 types of plant propagation I recommend using.

#1. Starting plants from seeds

Seeds are cheap. Heck, you can get 50 Japanese Maple seeds for $9.99 from Amazon that grow up to look like this!

That’s not even 2 dimes per seed!  Good Golly!

So, a $10 investment, some fertilized soil, a small pot and a little time, you could sell each plant for $6;  All. Day. Long.

If each seed germinated and grew to a sellable size, (at least 8-10 inches) you’d have very little problem selling for $6 each.  This equates to a return on investment of 29.9%.

Look here:

I just potted up these Red and Green Japanese Maples 2 weeks ago, and plan on selling them next Fall for $6 each.

It’s best to pot them up now, so they’re not stressed by the heat of summer, and with some warm days left before this year’s winter solstice, they should have time to germinate.

They will go dormant in the winter, so don’t worry – they’re still alive. But once the temperature of the soil increases in the spring, they will thaw and continue growing.

Now, I’ll admit this doesn’t happen overnight – seeds grow slow. And the likelihood of all 50 seeds turning into a 10 inch sellable plant are remote. But business is all about risk management, and the level of risk in plant propagation is virtually non-existent.

#2. Buying Rooted Plant Cuttings

So you’re not the most patient individual, I get it. Minute rice takes 45 seconds too long for you, I’m with ya. I’ve got a solution for your kind..

Fast-track plant propagation

Instead of seeds, you can buy rooted plant cuttings in bulk and grow them into a sellable plant. Which is exactly what I did with these plants:

These are a mix of arborvitaes;  Green Giant, Emerald Green, and Japanese, which are the perfect plant to build your plant propagation business around.

Why arborvitaes are the the perfect plant to start with

They’re hearty, they grow fast, and grow well in even the most challenging soil.  And, people will buy these by the 100s.  Literally, by the 100s!

Arborvitaes, and really most evergreen plants, are in such demand because people buy a lot of them at once. They’re perfect as a screen for noise reduction, a property divider, and *bonus perk* – they will stay green all year long!

Some other plants I would focus your plant propagation business on are:

Sprieas and Hostas.

There are so many varieties of hostas, you could almost focus your entire plant propagation business solely on them. Not to mention they’re extremely scalable because you can take one mature plant, divide it into 4-5 other plants, pot them up, and then sell each one of them for $6.

Spireas are also a ‘best seller’ due to their long flowering period which can last from early summer until the first frost. Spireas are not overly picky about soil type and PH either, but they do prefer a well-drained soil. People rave about their decorative flower colors and the pollinating insects they attract, especially butterflies.

There are plenty of nurseries where you can order rooted cuttings online and they will ship them directly to your door.

Chief River Nursery will sell you 1,000 rooted arborvitaes for only $3.93 each!

Arborvitaes have one of the highest success rates too, so if you bought 1,000 of them and 950 matured to a sellable plant at $6 each, you’d pocket a cool $5,700. Of course, you have to figure in the price of soil, pots, water, and fertilizer, but it’s still a fabulous return on investment.

#3. Grafting your own plants

Grafting plants is an ancient practice of taking two plants and joining their tissues together to create a new plant.

A proper grafted plant involves joining a rootstock (the mature plant), and the plant below the graft, with the scion (the young shoot), which is the plant above the Graft, and creating one new plant.

Grafting is often used with fruit trees, as a way of improving the plants hardiness and yield. You’re likely going to have the best results in plant grafting when you use the same species of plant.

Case in point – you’re going to have more success grafting two species of apple trees together rather than a plum and an apple tree. That is, unless you’re trying to create the world’s first ‘Plapple Tree’. And, who knows, a Plapple Tree may be a best-seller, so I’m not trying to talk you out of that!

Plant grafting is cool and scientific, but it’s also very labor intensive and as such not overly cost effective.

If you’re looking to start a successful plant propagation business, you’re going to need to sell large quantities of plants. In order to do this, you need to concentrate on building up a large inventory.

I would suggest building an inventory of just a few types of plants in the beginning, until you learn what your buyers are really interested in.  This is the beauty of plant propagation, you only need to grow a small variety of plant species, but on a large scale, and every last one of them will sell.

Where can you sell your plants

People are always looking for deals on plants. You can use Facebook Marketplace, Craigslist, or even your local paper, but these may involve loading up plants and meeting the buyer at some neutral site.

It’s much better if they come to you, that way you create an environment where people can impulse buy. Not to mention providing some nice scenery for them to look at! All plant buyers just love looking at plants, and they’d love another opportunity to do so outside of big box stores.

One idea is having a Saturday Plant Sale.

Set a date for a ‘Gargantuan Plant Sale’ in May, and give yourself enough time to properly get the word out.  Generate interest beforehand by posting pictures on social media of plants you’ll be selling, and mention the date of this ‘Gargantuan Plant Sale’.

You will have people begging to let them come by before the sale, I promise.  And if so, you’ll now have the option to charge these folks a premium for early viewing!

Oh and, don’t forget to include a tag (like the one below) on every species of plant to give the buyer a way to visualize where the plant will best fit in their yard:

These pots work really well too, and you can order them in bulk. I use the ones below myself and they’re durable, look good, and will stand the test of time.

You can pick up 110 of them off Amazon for $25.95 (or 24 cents each).

Plant Propagation Business ROI

A $5,000 investment in various species of arborvitaes, hostas, and spireas will easily yield a 5x multiple the first year.  The second year, when you can divide your hostas and take rooted cuttings from your initial stock, you will easily 10-15xX your initial investment.

With each passing year your initial investment amortizes until the value of your plants far exceeds the $5,000 you originally spent. It’s similar to a DRIP program for dividend stocks, but with plants :-)

In conclusion, while starting a plant propagation business does take a little time to ramp up, it’s profit margins are fantastic. It also has one of the lowest barriers of entry, and scaling up is super easy.

Worst case – you grow a bunch of plants that don’t sell well, and now you have some to give away as gifts or decorate your yard with! It’s truly a win-win!

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Jim runs the site InvestmentSoup.com where he talks about investing in stocks, flipping real estate, and other investment related topics. You can also find him on Twitter at @InvestmentSoup.

Don’t like this hustle? Try one of these on instead!

• Running a Christmas Tree Stand ($7,500/season)
• Running a Photo Booth! ($100/hr)
• Becoming a Voiceover Actor ($300-$400/pop/avg)

80+ more hustles –> Side Hustle Series

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*Plant gif by Kiki-of-Music
**All links to Amazon products above are affiliate links

[This post, Side Hustle #85: Plant Propagation 🌱, was first published by Guest Author on Elite Edge Money]

[Hey guys! Re-sharing this post from I Dream of FIRE back in the day because not only is it just damn good, but it’s also something I’ve never stopped thinking about ever since first reading it… I see these “desire paths” everywhere now and they’re so fascinating! See how many you can find in your community!]

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Near my house there are two well-worn dirt paths through the grass.

The first cuts just a dozen feet from one sidewalk to another, and the second travels down a small slope to meet up with an asphalt park trail below.

I live in a master planned community, where the roads, trails and sidewalks are meticulously designed and maintained to direct travelers along a predetermined route.

Yet the people who take those dirt paths have a different idea.

Anywhere you walk, you can almost always find these bare dirt paths leading away from the pavement. They may be a few feet long or hundreds of feet, but enough people have taken this same unofficial route that it has become an obvious option – the proverbial road less traveled.

We often just call these shortcuts – and indeed Wikipedia suggests they are often “the shortest or most easily navigated route between an origin and destination” – but they have an official name in the urban planning lexicon: Desire paths.

Desire paths are not created by design; rather, they are the natural result of people who look around and see a better way to get where they’re going. Over time, as these trailblazers prove this new route’s success, the path becomes visible even to those who wouldn’t naturally think to take it. Now they can see there is another way, and they can choose to follow it or stick with the more conventional path.

Clearing The Way

I heard about desire paths on the 99% Invisible podcast and was immediately smitten with the name and concept. The phenomenon originates in urban planning, but it also crosses into technology. Twitter’s hashtags and @ mentions were not functions created by Twitter’s developers, but rather conventions it adopted after seeing how its users were communicating with one another.

It’s also a perfect metaphor for the FIRE movement.

What we’re seeing now with the proliferation of personal finance blogs and podcasts that have a financial independence and early retirement theme is a digital desire path. Enough trailblazers have proven there’s a faster way to get where they are going – a shortcut to retirement – and we can choose whether to break from the expected path and follow their lead.

Is that the right choice for everyone, however? Of course not.

But there are some who spy that developing shortcut and think, “I’ve got better things to do with my time than take twice as long to get where we’re all going.”

The Pioneers, The Early Settlements, And The Railroad

Perhaps the most famous desire path in the U.S. is the Oregon Trail. From 1840-1880, nearly 400,000 people loaded up wagons and headed west to a brave new world.

“As the Oregon Trail evolved, thousands of wagons wore ruts into the ground that acted as an ad-hoc road for the settlers who followed. But they didn’t follow a single solid path. Rather, wagon wheels left ruts across the country as pioneers found various shortcuts and easier routes along the way.” –  Smithsonian Magazine

There were desire paths sprouting from desire paths – just as there are many paths to early financial independence! (By the way, do you know where The Oregon Trail officially began? Independence, Mo. How’s that for an FI tie-in?)

So obvious was the success of The Oregon Trail, along with other similar trails, that it became a more permanent path that future travelers would take as riders on the Transcontinental Railroad.

The history of the financial independence/early retirement movement is very similar. As Early Retirement Dude writes in his brilliant “The History of the FI/ER Movement (2.0)”:

“It hasn’t been that long since anyone who was pursuing it was operating in a near-total vacuum: one where you had to collect and assemble your plan’s components without much, if any, outside help… You’re living in a perfect storm: a moment in history when circumstances have never been more favorable for achieving financial independence and early retirement.”

He talks about the early pioneers whose footsteps today’s FI seekers walk in. People like Amy Dacyczyn, Vicki Robin, Joe Dominguez, Jacob Lund Fisker, and those posting on early-retirement.org. Their contributions in the form of “The Tightwad Gazette,” “Your Money or Your Life” and Early Retirement Extreme were the original waypoints along the trail where travelers could stop to rest and commiserate. They inspired others to keep going.

There’s No Stopping an Ingenious Mind With a Deep Desire

Later travelers of The Oregon Trail created alternate routes from the original path to shorten the trail or to get around obstacles. These “cut-offs” would themselves become established options for those who came behind them.

In the FIRE community, people like The Mad Fientist guide people in tax optimization and Roth conversion ladders – laying out cut-offs for financial obstacles others just accept as part of the journey.

Many of the voices in the personal finance community are software engineers and entrepreneurs – people whose nature is to create something from nothing. Such was the constitution of the pioneer stock, who were undeterred by what was because they saw what could be.

The FIRE writers, bloggers, podcasters, and forum members are the equivalent of the Transcontinental Railroad. They offer a proven, relatively safe, way to reach an endpoint at a speed once thought impossible. Big names like Mr. Money Mustache help spread the word and get curious people thinking about what such a trip might be like. His “The Shockingly Simple Math Behind Early Retirement” article is essentially a railway fare board, showing people the price of a ticket to freedom and a life they currently only dream about.

But, of course, there are many vehicles and routes to financial independence. Not every path suits every person or every situation.

Which Brings Us Back to Desire Paths

We may share many of the same predictable, paved roads along the way. But each of us has a chance to pick up our head, look around, and decide which way we’ll go. For some, that rock-solid sidewalk with its well-defined edges and overhead lighting is soothing and secure.

For others, the allure of a well-worn path and a little adventure is a chance too hard to pass up. And then there are still those who envision an entirely new way to their dream destination, whose desire to create one may someday inspire others to follow.

This passage from Robert Frost perhaps says it best:

“I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I –
I took the one less traveled by,
And that has made all the difference.”

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I Dream of FIRE is written by an early 40s married father of two adult stepchildren and a 10-year-old daughter. He works in financial education and coaching, and explores the realities and challenges of seeking financial independence with a family.

[Desire path up top via Duncan Rawlinson / Others by the author and Google Maps]

[This post, Desire Paths: The Unconventional Way to Live Your life, was first published by Guest Author on Elite Edge Money]

Good morning! Got a great guest post for you today from a new blogger and friend in the space, Kalen Houck. I’m sure many of you can relate to this in some form or another – I know I can! And do NOT miss those days one bit, haha…

Take it away, Kalen!

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Have you ever had to tell the person closest to you that you’ve failed them? That the hope and trust that they put in you was misplaced at best, and stupid at worst?

I have. And it sucks.

It was 2013, and I was married for 2 years at that point. My wife and I married in 2011, and I had lofty expectations of what our future would be like financially and the lifestyle we would live.

But up until that point life had not lived up to our expectations. And if I’m being honest, I hadn’t lived up to my expectations.

I didn’t grow up thinking about creative work, building a business, learning a highly marketable skill like programming or sales, or spending extra time developing side hustles. So, I just settled on what life gave me.

Perhaps you can relate. Or maybe you’ve crushed it out of the park in every area of your life. But that wasn’t me. I knew that I was capable of more than the manual labor job that I was stuck in, and every day I was searching for my ticket-to-freedom.

The Radio Ad of Destiny

As I continued working, I was driving in my work truck and listening to the radio one day when I thought my ticket-to-freedom had miraculously appeared. An advertisement graced my ears for an organization that would teach you the secrets of trading in the stock market.

I like secrets. I had seen the Goonies. I knew that once you had the treasure map, glories and riches were on the other end.

The radio commercial claimed to have the treasure map. It was EASY they said, once you knew the secrets. In fact, countless of their students had begun making thousands of dollars a day after learning their methods.

Thousands of dollars a day???

Shoot, I wasn’t making thousands of dollars a week. I couldn’t even fathom how my life would change with thousands of dollars per day.

So I went home and had a conversation with my wife.

“Hey darling,” (I knew I would have to sweet-talk her if I wanted to make this happen), “I heard this ad on the radio today and it sounds really promising. These guys will teach us how to trade stocks and make all the money we need.”

“Isn’t trading stocks dangerous?”

She wasn’t buying it. But I had all the right answers.

“Yes it can be…IF it’s done wrong. But they teach you how to do it correctly so that it’s safe. Trust me.”

Famous last words.

“How much is it?” she asked.

“Only $99 for a full day of teaching. And we’ll be set after that. Only $99 to change our family’s future.”

She reluctantly agreed. She’s always done a great job of trying to support me in my crazy endeavors.

Seminar Time

We showed up the following weekend downtown at a seedy hotel and were ushered into the conference room.

The main speaker was like a mix between Tony Robbins and Tom Cruise (the version that jumps on Oprah’s couch), and honestly looking back on it, the dude was an incredible salesman. We’ll call him Tony Cruise.

He explained how Wall Street works, how they are manipulating the system for their gain, and how the “little guys” like us can ride their coattails in the markets if we just follow along.

He went through the basics of stock trading that back then seemed like magic, but in reality (now that I’m more experienced) were just the basics of support and resistance trading.

Tony made it sound like the simplest thing in the world.

You take a stock chart (which I had never heard of before…that’s how green I was) like this:

You use your eye to feel out where the top and bottom of the channel is (because he explained that all big banks like to trade inside of these channels).

So then it looks like this:

Then, and this is the “magical part”, you just trade within these channels and ride the coattails of the “big players”.

So when the stock is down near the bottom of the channel, you buy, and when it’s at the top, you sell.

EASY MONEY.

After about 10 of these charts strung together in a crappy powerpoint slide, I was convinced.

I remember thinking, “I’m going to be rich!”

Tony went on to explain how an old lady (why does it always have to be an old lady?) had made $100,000 trading stocks using their method. If an old lady could do it, surely I would 10x her gains.

And Tony said he asked the lady, “Why didn’t you trade the options instead of the stock itself? If you were trading options, you would have easily made over $1,000,000.”

Say no more. Why waste time trading stocks when I could be trading options?

[Stock options are simply contracts to buy shares of the underlying stock at a specified price at a future date. They can be traded just like an actual stock and many people use them in trading because they provide leverage. Meaning for example you could spend $100 on an option contract expiring tomorrow, and could control $40,000 worth of stock.]

Little did I know that if something allows for greater return, it also means there’s a greater risk of loss. If someone is promising you a ton of return for very little risk, run the opposite direction.

Lesson 1: There is no free lunch

So Tony continued his presentation and at the end of the day (some of you more experienced folks may have guessed it already) he then pitched each of us his $10,000 trading program. He promised it would show us the ins and outs of trading so we could take what he taught us today and hit the ground running.

When he said $10,000 my jaw dropped open and my wife and I just stared at each other. We didn’t have $10,000 at the time. We didn’t even have half of that. We had a few thousand dollars to our name.

Tony started making the rounds through the tables where he performed his “hard close”. He came up to my wife and I, sat down next to us, and said, “Are you ready for your life to change?”

I said, “Man I’m going to be honest, I don’t have $10,000 to drop on this.”

He smiled, “No problem son, we can put you on a payment plan with minimal interest.”

How generous.

“I don’t know,” was all I could manage. I wanted this. I wanted my life to change. I wanted the freedom that came with a greater income. I wanted to make something of myself.

I looked over at my wife and gave her the puppy dog eyes. She rolled her eyes back at me.

“Let us talk about it,” I reluctantly told Tony. He moved on to the next table.

My wife and I talked back and forth for a few minutes. I tried to convince her that this was a good investment in our future. She tried to convince me that it was stupid to spend $10,000 we don’t have on a get-rich-quick scheme (she was always the more prudent one when it came to this type of stuff).

I eventually gave in and agreed with her. We had paid off her car a year before this and had avoided all debt since, and going $10,000 in debt for a stock trading program would have been a foolish endeavor.

Lesson 2: Get on the same page with your spouse

What I’ve seen often in marriages is that opposites attract.

One spouse might be the hard-driving type that has their foot on the gas pedal as hard as they can go, and the other spouse tends to be more cautious and prudent when it comes to decision making. Both types need each other.

Well, I’m more often the one in our marriage with elaborate dreams that I’m chasing. She’s the cautious one who enjoys the simple life. I need her “brakes” to keep me from driving us off the cliff, and she needs my “heavy foot” to get us out of the parking lot. Together we drive at a nice steady pace down the road toward our goals.

But that’s only after we’ve learned how to communicate better, respect each other’s opinion, and humble ourselves. Not an easy task.

So we told Tony, “no thank you” and left for the evening. I pouted on the way home because I didn’t get my way, even though I knew she was right. And for the rest of the weekend I kept thinking, “I know enough to do this on my own.”

Trading On My Own

I wasn’t able to convince my wife to go into $10k of debt for this trading program, but I was able to convince her to let me use our savings to dip my toe in the waters of trading – I promised her we wouldn’t lose money.

So I opened up a brokerage account, transferred the $3,000 in savings we had into it, and excitedly got to trading the very next day.

Yeah, you heard that right. I didn’t do any further training, didn’t have any rules (Brandon’s rules here are great), read any trading books, nothing. I transferred all of our savings into this account to trade with right away.

NEVER, I repeat, NEVER trade what you aren’t willing to lose.

I was not willing to lose all of our savings, but I just assumed that I wouldn’t lose. I had been taught the secrets after all.

Lesson 3: Only trade what you are willing to lose

I remembered that the guy said that options trading made way more money than stock trading, so I thought, “Why spend 5 years getting rich when I could do it in 5 weeks?”

I went all-in on options trading.

Now for those of you who don’t know, with options contracts (if you pick the wrong ones) they can be extremely volatile and can quickly go to ZERO if the trade goes against you. Meaning, you could buy $10,000 worth of options contracts in the morning, and if the trade went far enough against you, you could be left with $0.00 at the end of the day.

Very volatile, and not for newbies.

I didn’t care – I thought I was smarter than everyone else. Tony had taught me how to “trade like the banks”. I learned a skill in one weekend of looking at PowerPoint slides that Goldman Sachs’ traders spent years developing.

Lesson 4: Pride comes before the fall

I took my first trade the next day – the trade went against me. I held on thinking it would come back. It didn’t.

Obviously this was just a fluke, so I took another trade. It also went against me.

Not the kind of start to my stock trading career that I had envisioned.

1st day: -$480

In one day I had lost over 15% of my account. Not a good sign.

I blamed it on first day jitters. Surely my second day would be better right?

I didn’t tell my wife about the loss, because I just knew that I would make it back the next day.

My leftover funds settled the next day, and I took another trade in the morning. I checked it again in a few hours thinking that if I didn’t watch it, somehow that would help. Surely the stock would stay within this magic trading “channel” that Tony had described.

Nope. It went against my position as well. I closed it for a loss.

I took one more trade for the day. Guess what? Another loser.

2nd Day: -$355

I’ll spare you more of the depressing details and sum it up. Over the course of the week, I managed to trade away almost all of our entire savings until it was down to about $150. I had a few winning trades, but the majority were BIG losers.

In 10 days I lost 95% of our savings trying to get rich trading options.

10 Day Trading Profits: -$2,850

“WallStreetBets” would have been proud. I however, was not.

I had kept all of these losses a secret from my wife too, thinking that I would make it back. I thought, “Just one good win and I’ll make it back, then I’ll tell her and stop trading.”

Classic gambler’s mentality.

On my last day of trading after I was down to $150, I closed the account, and nervously sat around trying to figure out how to tell my wife that I had lost our savings.

There are not many worse feelings in the world than knowing that someone you love took a leap of faith on you, and you failed them.

There was no sense dragging it out any longer, so I sat her down and broke the news. She was shocked, justifiably upset, and felt betrayed.

That walk of shame is one that I never want to have to do again. And my wife would agree with that sentiment as well.

She forgave me (she’s amazing), I stopped gambling in the stock market, we built our savings back up, and I learned the beauty of index fund investing.

If I could go back and change anything about my experience with it all, I wouldn’t. I’m thankful that my life savings at the time was only $3,000 to lose and not $300,000, but either way that experience helped shape who I am today, how I manage risk in all aspects of life, and how I jump into new ventures.

It taught me so much about myself, about life, and about the real world.

I walked away knowing:

• Never risk more than you’re willing to lose.
• Make sure your spouse and you are on the same page.
• Stupid decisions are only fatal if you let them be. You CAN bounce back from anything. Yes, I made a dumb decision, but 10 years later I can truly say that I’m better because of it.
• If something sounds too good to be true, it is.
• Pride comes before the fall. Humility is a great guard against foolishness.

Then and Now

I’ve continued index fund investing since then and let me tell you, it’s a way easier road.

Over the past few years I’ve also picked up trading again (with my wife’s genuine agreement this time). I’ve begun studying and learning how to actually trade profitably in the markets, and while I’m still refining my process, it’s a far different scenario than the gambler’s mentality I had 10 years ago. It can be done, but it’s very hard and requires a ton of work. Definitely not something you can jump into after one weekend.

The reality is that 99.99% of the population should follow J. Money’s investing advice, keep investing on a monthly basis until retirement, and sail off into the sunset with a hefty nest egg.

But for the 0.01% of us that desire to trade actively in the stock market for income (always stick to index fund investing with retirement funds by the way), you have to take it seriously. It’s a second job until you get the hang of it and can make it your primary job. It CAN be done, but it takes years of hard work in learning how to trade, lots of study and screen time watching charts, tons of trial and error, losses, and most of all a dedication to mental mastery.

If you truly want to learn, you need to spend a ton of time studying, start with “paper trading” so you aren’t risking any money, and then progress to risking $0.10 per trade, then $0.50, $1.00, and so on as you get better. Fall in love with the process of learning and improving, and you can do it. Try to get rich quickly, and you’ll fail faster than you thought possible – like I did.

And for the love of all that is holy, STAY AWAY FROM OPTIONS until you’ve been consistently profitable for a few years. That crap is dangerous.

Trust me, please.

A big “thank you” to J. Money for letting me tell some of my story here today. My hope is that you found a few life lessons and are reminded that everyone makes dumb mistakes sometimes – what matters is how you bounce back after getting the crap kicked out of you. You only lose if you quit.

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Kalen is a husband, father of 4, personal finance coach, and writer on all things money. Drawing from a lifetime of both failures and victories, his mission is to teach people how to master their money and their life in the quickest way possible. He can be found at KalenHouck.com or on Twitter (@KalenHouck).

[This post, A User’s Guide: How to Gamble in the Stock Market and Lose Everything, was first published by Guest Author on Elite Edge Money]

[Good morning! Today we welcome back Monica, Pie Lady FI, to the blog to share an update on her personal and financial journey over the past three years. Last we heard she had crossed a net worth of $900k and was battling a few mental demons. Let’s see where she’s at now!]

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Back in February 2019, I wrote a guest post here about how I was sabotaging my own financial independence journey, which boiled down to three main reasons:

1. fear of success
2. feeling undeserving
3. unlimited time

My journey to financial independence truly started when I divorced, with two kids and $257,000 of debt.

Today, not only have I reached my definition of financial independence, to be able to pay my bills and take a vacation or two, but I have surpassed it with a net worth of over $2 million dollars, a paid off home and three of five rental properties paid in full.

So many commented on my post about how relatable those feelings are which made me feel less alone. It showed me that there is power in a life story. That we are, in many ways, more alike than different!

It’s been just over three years and so much has changed, mostly on my own outlook about success and what any of us are truly capable of.

Fear of Success

One would think after getting out of debt, building a rental property portfolio and cash investment portfolio that give me passive income streams, it would squash that fear of success. Logically, I look at all I have achieved to this point and clearly, I have been successful. I achieved all my goals to become financially independent.

Yet, I didn’t (and still don’t) feel successful. I am still just me.

After all that, I began to wonder that maybe this was not the right definition of success. That all these years I was laying the foundation for something else. What if I hadn’t scratched the surface of what I am capable of? What if success was still ahead of me? That realization was truly scary.

Feeling Undeserving

Every morning I review my goals and make updates as needed, checking off completed things and updating other goals as the year unfolds and things becomes clearer. Sometimes I add new goals or move other things to the next year.

But before I get to that exercise, I have at the top of the page an excerpt from the poem, Our Deepest Fear, by Marianne Williamson. I still read it almost every morning and reflect on what that means in my life. The line that strikes me (and I pause every time to really let it sink in) is:

“We ask ourselves, Who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be?”

It reminds me that it’s not about feeling deserving of all that I have built, but that what I built was just step one – a foundation. That all these years spent inching closer to my definition of FI was not the goal, but was about showing myself what I am truly capable of with grit, perseverance, and determination. That if I was able to achieve FI in ten years then what else am I capable of?

This blew my mind.

Unlimited Time

In July 2018, my mom passed of liver cancer. It was one of the most stressful times in my life. She was diagnosed in 2017, had the surgery which was declared a success and spent 12 months in remission. Then in January, it came back. From January to July, the months flew by like days.

Even knowing the end was near, I was not prepared for losing her. The last 5+ years of her life, our relationship improved, and we were the closest we had ever been. Even so, I never got the chance to tell her that I was going to be alright. That I had built a solid financial foundation. It is a regret that I carry. Losing her was a reminder that time is not unlimited and none of us know when our time is up.

Fast forward to 2022. I quit my 9 to 5 to focus full-time on my next chapter without a paycheck. In those ten years leading up to financial independence, I learned a lot about myself and what is possible. It was time to answer, what’s next?

This year I wrote my first book, Grab Your Slice of Financial Independence, to be released September 6th, 2022. In it I share all my mistakes and setbacks as well as showing that with grit and perseverance, I was still able to achieve FI. But more importantly, I outline the steps for you to take to grab your own slice of FI.

When I am asked why I wrote the book, my answer is simple: I didn’t get through all of that for nothing. I knew I had to share that journey to help others.

What I have come to understand is it’s not about me or if I am deserving. It’s about living up to my full potential. I still have a fear of success, but it’s tempered with what I am looking to achieve.

Timeline continued:

2018 was an emotional roller coaster year. Mom’s cancer came out of remission and took her life in July. I got engaged. Attended FinCon which changed the trajectory of my career.

2019 was a catch-my-breath year. Switched to a new, less stressful, role. Major rental property repairs were completed. Taught myself WordPress and the mechanics of blogging (thank you YouTube!). Started planning my exit from paycheck living.

2020-2021 – pandemic lock down. What’s the saying, “We make plans, God laughs.” I stayed put in my role putting my plans on hold. Paid off my mortgage, for purely personal reasons – it felt really good.

2022 – quit my 9 to 5 to focus on building my small business, Grab Your Slice, LLC, as a financial coach, author, and blogger, by building tools that help others grab their big fat juicy slice of FI.

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My new definition of success is leaving a legacy of building something that will give back for years to come. Am I still afraid? Sometimes. But I am more curious to find the answer of what I am truly capable of.

So far, I haven’t hit the ceiling.

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Monica, Pie Lady FI, is an author and FIRE blogger committed to educating women and solo parents on how to go from financial couch potato to superstar, by leveraging 10 years of her own personal experience and inspiring others to Grab Their Slice too. She can be found at GrabYourSlice.com.

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To read Part I of Monica’s story, which includes a breakdown of her net worth, click here: How I Stopped Sabotaging My Own Financial Independence

Actually, the breakdown was pretty cool so I’ll just paste it again down below : ) She went from $246k to $900k in 9 years! Mainly from rental properties and some extra investing (And then in the past 3 years managed to DOUBLE IT and hit $2MM it looks like – even more impressive! And more proof that once you get the ball rolling, time does everything else for you – and much faster.)

[This post, How I Stopped Sabotaging My Own Financial Independence [Part Deux], was first published by Guest Author on Elite Edge Money]

Good morning!

Got a great guest post for y’all today by a long-time reader of the blog, Adam, who I once had lunch with back in 2017 as his money and mind was morphing…

He had written me the first part of this story years ago, and then it sat in my inbox until we re-united last month with the news of Budgets coming back ;) I asked him how things have changed since, and wow did I get an answer! Which is what Part II of today’s post will cover…

Always amazing how much life can change in only a short amount of time! And also what can happen when you go ALL IN on yourself! Though cashing in all of your investments for a dream like this takes a whole extra level of boldness ;)

If you ever wanted to know what it’s like to open up your own gym though, or to go from being stressed out and in debt to FIRE’d, this one’s for you! Take it away, Adam! And looking forward to checking it out in real life sometime soon

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 Phase 1: The Finances
(July 1, 2011 – March 3, 2017)

It was July 2011. I was $50k in debt ($40k in graduate student loans and $10k in car loans). I had my own group fitness training business in Bethesda, MD. I was 24 years old and ready to take on the world. I wanted to make money and be successful just like my dad who had his own business.

I would get upset when my clients wouldn’t get the results they initially talked to me about before joining my program. It took about 6 months to realize health and fitness was not everyone’s top priority. Some clients just wanted to talk, others wanted to check a workout off their daily to-do list, some wanted to look good for the summer or their partner. But the vast majority were just regular people trying to release some endorphins before they had to go back to their high stress jobs and lives.

I was good at reading my clients. So, I became what they needed to feel good for that one hour of their day.

It turns out that being everything for everyone though, and providing a positive experience for all of my clients at all times, is not realistic – who knew?

In hindsight, this was the worst thing I could do because it was so draining. At the time, all that mattered was the money coming in and to keep the money coming in meant sacrificing myself for my clients. I maintained the status quo and it worked.

I grew my business. I would literally do back flips during workouts and display crazy amounts of energy to keep my clients motivated. People kept signing up. I couldn’t stop. I was addicted. I loved signing new people up – I would hear the sound of the cash register ring every time someone entrusted me with their health and fitness.

My favorite part was faxing in the customer’s contract (yes, I used a fax), but I learned very quickly that I didn’t like waking up everyday way before the sunrise and not finishing work until after sunset. I am a creature of habit so the routine kept me on track, but I knew this was not sustainable. I painted myself into a corner, and I didn’t know what to do to get myself out.

The Plan

In an attempt to get myself out of debt, I found Dave Ramsey’s Baby Steps as well as 4 blogs that changed my life: Mr. Money Mustache, JLCollinsNH, The Mad Fientist and Elite Edge Money.

These men helped mold my life and provide a blueprint to reach this new concept of Financial Independence (FI). I devoured every piece of content from these guys that I could find. Finally, I had hope again. After all, the Bible says, hope deferred makes the soul sick.

I knocked out my $50K of debt in less than a year!

After getting out of debt, the plan then was to accumulate 25 times annual expenses so I could live off of the 4% safe withdrawal rate – a hypothesis deemed safe by the Trinity Study. I knew I could live off of $40k per year so my arbitrary goal was to save $1 million dollars. I was fired up!

Once a game plan is laid out, I become very “coachable.” I played sports all of my life including football and track in college. I like having a plan, a direction, a purpose. My purpose was to step off of the hedonic treadmill to live a life on my own terms.

I decided that my money needed to start working for me, so I talked with an advisor and opened up my first IRA.

Because I was a business owner, I elected to open a Simple IRA. I also opened a Roth IRA. I was in a front loaded 5.75% mutual fund for about a year before I made the switch to Vanguard in July of 2013 into Vanguard’s Total Stock Market Index (VTSAX) for ALL accounts (Simple/Roth and HSA). Best decision I have made. Thanks Jack Bogle! [Editor’s note: This is where my $$$ is too ]

Training clients was on auto-pilot by this time. There were so many days I remember sitting in the personal training office reading my personal finance blogs and wishing and praying to escape this torture. Some days felt like an eternity. I thought nothing would ever change.

Little did I know, big things were actually happening. My mindset was shifting. I was fortifying an idea that few people are willing to put the work and sacrifice in to achieve. The math for FI is easy, but the discipline it takes to achieve is not.

No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.

– Hebrews 12:11

My main objective since opening up my retirement accounts has been to max everything out. A high savings rate coupled with time in the market will help any person achieve FI. Things start off really slowly. But, I could feel a transformation happening. I knew the eventual outcome was going to help me lead a much simpler life. A life on my terms.

Freedom was the objective. Money was the tool to help me get there.

I was still burning both ends of the candle though. I was growing my business and saving for FI at such an aggressive rate that I sacrificed everything else including relationships and my own mental well-being.

My body was breaking down. I started experiencing chronic pain. I attended 36 doctor visits in 7 months. My life was spiraling out of control, and I didn’t know what to do.

At this point, I was ready to jump and build the proverbial parachute on the way down. I was in a great financial position as a 29 year old, so I decided to try my hand at semi-retirement. I actually didn’t have a choice. I couldn’t keep doing what I was doing anymore, and the fear of staying the same was greater than the fear of change. So, I changed.

In February of 2016, I quit the personal training gig and started my first semi-retirement.

It’s funny how things start to align when you are living a life true to yourself. I soon found another opportunity where I could get people excited about fitness but not have to coach them, found two real estate opportunities that I jumped on, and continued maxing out my IRAs.

It’s been a little over a year and everything has not worked out perfectly, but I am so happy that I jumped. I now do some freelancing/personal training on the side when I want and I am starting to live a life of purpose. I am following my passions again and now have the capacity to be picky when it comes to work. I only want to do things that excite me.

Phase Two: The Gym
(June 5, 2017 – Present Day)

After a year of mini-retirement, I was finally ready to jump back in and do more work that mattered to me. My educational background is in Public Health which is all about primary prevention through accessibility. I decided what better way to enact change than to open up a gym?

Luckily, my soon to be business partner shared similar values and had over 20 years of experience in the gym business as well. We teamed up in June of 2017 and started our journey together.

We wanted to have multiple studios under one roof all led by coaches.

It would include a CrossFit gym, boot camp studio, Olympic weightlifting area, as well as an entire free weight/cardio section that members had access to called “open gym” with memberships costing between $59 – $79 a month (a 50-60% discount for this type of training in our area).

We also wanted to bring on a multitude of health and fitness practitioners including trainers, physical therapists, massage therapists etc. so that they could work in tandem with one another to actually help clients achieve their goals.

The concept was simple. Make it affordable. Make it look awesome. Help A LOT of people.

This was our way of intertwining public health with the gym. The goal was lofty, but if done correctly, could help usher in a new primary prevention care facility of the future.

In January of 2019, we finally opened our doors to our 20,000 sq ft facility in northern Virginia with the idea of making training affordable.

We poured everything we had into this business.

I liquidated everything: my Roth IRA, Simple IRA, HSA, Savings, etc. My business partner did the same, and without his major contributions we couldn’t have done it!

When it was all said and done, we were well over 7 figures into the business. We went ALL in and burned all the boats (this is not financial advice – please consult with a financial professional if ever faced with a similar decision!!).

As they say in business, everything takes twice as long and it’s twice as expensive as anticipated. However, we pre-sold enough memberships to cover the massive rent and utilities costs as well as the paychecks for our trainers.

Work consisted of long 12 -14 hour days for the first two years which included one year of building out the gym from scratch and getting all the necessary county permits to operate the business, and another year to get the business profitable.

Truth be told, those two years were some of the best years of my life. We often laugh at all the stupid things we did as well as the money mistakes we made, especially when the county makes you install two 50 Ton HVAC units and the landlords only allotted a $50,000 HVAC credit leaving us with an $85,000 bill. Business is fun!

Fast forward to the present day, Halo Fitness Experience/CrossFit 703 in Burke, VA is still providing affordable training.

We have a multitude of different health care professionals all working together to get our athletes healthier and happier.

Every year, we choose to donate to a charity that our community backs. In the past 4 years, we have donated over $70,000 to charities such as Shelter House, Charity:Water, Anti-Trafficking International, and Convoy of Hope.

Taking a leap of faith all of those years ago, albeit scary, has put a calling on my life. It reminds me of my favorite bible verse:

“And we know that in all things God works for the good of those who love Him, who have been called according to His purpose.”

-Romans 8:28

So, the question you are all probably wondering if you made it this far is, “Was it worth it?”

For me, yes. Having a business running that’s not dependent on me or my business partner doing everything is worth every penny invested.

If we wanted to take a week off to travel or 10, we could. The funny thing is, we tend to show up to the gym everyday because we love what we do.

By F.I. standards and according to the 4% rule, I am financially independent. My monthly expenses are around $3,500 per month which are covered by the business returns. F.I. is great, but I am forgoing the R.E. portion for doing the work I love. Besides, we want to open more gyms!

I talk to so many people who feel trapped in their dead end jobs, and I remember that feeling. It’s not fun. I want to encourage you that there is hope. It won’t be like this forever. You can take steps to change your life. However, unless you’re fired up, and willing to make a change, progress won’t happen.

– Adam

[This post, From Debt to FIRE’d and Building Out a Dream Gym 🔥, was first published by Guest Author on Elite Edge Money]

Welcome to another installment of our Side Hustle Series!

And this one is a WHOPPER… Gratifying on so many fronts depending on your level of hatred of robocalls, haha… Requires a bit more legwork and patience, similar to our past hustles on being a Forensic Accountant or Patent Researcher, but all very doable and lucrative for the right type of personality.

Huge thanks for taking the time to share your story with us, Steve! And FYI – Steve is not a lawyer or giving out any legal advice here or anything. He’s just outlining his story for us after I begged him to do it on Twitter because it was so fascinating ;) He’s made over $40,000 so far doing this – all in his spare time!!

Take it away, Steve!

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How I Got Started

More than 15 years ago a relative of mine was having an ongoing medical issue. I would get calls to my cell phone while at work, sometimes multiple a day, and they were never good news. Each time I heard my cell phone ring, it was like a mini heart attack.

About this same time frame I started getting robocalls, multiple times a day. When I would hear the robocall center start talking and realized the brief moment of panic I had just experienced was from someone I knew was breaking the law, the anger boiled over.

Fast forward to December 2020. At this point the relatives’ medical issues had been long resolved but I was still getting the robocalls, often times 10 – 20 a day, every day. I would waste as much of the robocallers time as possible hoping at some point they would realize calling me was a waste of their time and would reduce the number of calls. The other hope was that if I was wasting their time, they would not be talking to a vulnerable senior citizen since they were talking to me instead.

Long story short, they did not stop calling and I have not stopped wasting their time.

One day, right around December 1st 2020, I get a call from an overseas call center and I play along as if I am interested and get to a US based insurance agent and I read him the riot act over the illegal robo call. He tells me to call their customer support which I did and I continued to read them the riot act.

About an hour later I get a call from the Philippines and the overseas caller says he is the one who called and asked if he could pay me instead of me suing his client and him losing the contract he has with them. I am thinking he is offering $20 or maybe $50.

He says, is $1,000 enough?

At this point I am thinking, this is not the first time this guy has paid for a violation. I do a little research and that is where I stumble upon the name Doc Compton and his Turning Robocalls into Cash Kit. (Not an affiliate link – just a super helpful resource)

Doc’s background is in consumer credit repair, and his kit sells for $47 which is packed full of valuable information and tells you how to go after these robo callers. He used to run a private Facebook group too where we would discuss tactics and exchange information on how best to get these guys which I received a lot of value from, but unfortunately it closed down due to FB group issues and the inability to keep things private (it turned out multiple people in the group were leaking information to call center / lead generators).

Doc now runs a private forum which costs about $200/year to be a member, but return on investment wise, both $ and time, it might be the best money I have ever spent.

The Process of Catching Robocallers

Once I had more information, I started going through the process of figuring it all out… and it is a process.

You have to document calls, figure out the best tools to use to organize what you find, locate who is behind all the calls, find emails addresses, etc. There were multiple times where I thought this is just not going to happen. It’s like anything, starting a blog, a YouTube channel – you need to put in the effort, push past the frustration, and keep at it before it will pay off. Most people are not willing to put in the effort required to get to the pay off.

I keep at it and I get my first two checks within an hour of each other, one through Paypal from a call center in Pakistan and another from a local security system company delivered by UPS an hour later. Shortly after that I am on Twitter and a local reporter posts something about robocalls which leads to me becoming their featured story and news segment seen below:

[King 5 News: ‘It felt like a victory’: Woodinville man gets $3,100 in robocall revenge]

Fast forward to today…

With the settlements I should be receiving in the next couple of weeks, I will have put in my pocket, net of costs, about $40,000 chasing these callers down.

I have settled about 15 total cases, only 1 of which I used an attorney which was settled before trial. One other case I filed a lawsuit on my own, which just settled this week before it went to trial.

But this is only the tip of the iceberg… I know many people who have made way more money than I have in a much shorter time frame. I only go after a small fraction of what I could, and if I were more organized the net profits in my pocket could easily be well over $100K.

However the money is not the motivation for me. It’s about payback. It’s about getting these calls to stop.

If you talk to the people in the Doc Compton group, the overwhelming majority are also more about getting these calls to stop than the money. Having a settlement agreement where it’s laid out how much more a call center / lead generator will pay you if they make the mistake of calling again is a real motivator for them to stop calling. That being said, I still get a similar number of calls each day, only with $40K more in my bank account now.

So here is a very high level overview of the process…

How to Get Paid by a Robocaller 101

First: put your phone on the national do not call list – the “DNC“. Your phone must be listed for at least 30 days on the DNC before a call can potentially be a violation for it being on the DNC. Just do not think putting your phone on the list is going to in anyway reduce the number of calls you get because it won’t.

Some people get paid through state laws. Those like me, whose state laws are weak or non existent, use the federal Telephone Consumer Protection Act, TCPA, which covers commercial telephone solicitations. Specifically sections 227b and 227c of TCPA which contain a private right of action. A private right of action simply means you can sue someone for money when they violate the law.

• Section 227b says a call can not be automated. For example, a call that is a recording that asks you to press 1 to speak to someone is in violation of 227b.
• Section 227c covers calls made to phones on the DNC. 227c specifically states you can not make more than 1 call to a DNC registered phone within a 12 month period. So a company can commercially solicit your DNC registered phone 1 time every 12 months if it is not using an automated telephone dialing system, ATDS. There is a lot of nuance in what is and is not an ATDS, however. The TCPA law dates back to the early 90s and could use some 30 year later updating.

Here is another important point to know: scam calls, those calls claiming to be Amazon support or the IRS or whatever is the latest scam, you will never get paid from. They are just criminals out to steal your money and are overseas outside of the reach of US law.

Anyone who calls you saying they are from the government, asking for your social security number, saying they are from Amazon or Apple, or Microsoft needing to access your computer, claiming to be from the cable company offering a deal to lower your bill, those are scams. Have some fun with them, waste as much of their time as possible so they are not stealing from Grandma, but don’t try to make money off them as you will fail.

Focus on US based companies attempting to solicit you

To get paid, you need to get a call that is a violation of your state laws or either 227b and or 227c that ends in a US based company attempting to solicit you.

This could be for health insurance, a security system, car warranty, internet services, or it could be a political action committee depending on their tax status, to give just a few examples. The key is to get past the call center who is almost certainly overseas, and who is almost certainly giving you a fake company name and spoofing the caller id – both violations of laws that do not have a private right of action.

Once you get past the call center to the US based company, you need proof of who they are. Get an address, an email, a valid call back number. That is the hard part and can take some time to learn the skills to do it. This almost always means you play along with the call until you have identified the US based company.

At times you may even need to purchase their product, as crazy as that sounds. My state has very specific laws regarding getting refunds from telephone solicitations. Buying the product is one way to 100% find out who was behind the call, then you simply cancel the purchase according to your state’s laws.

The Demand Letter

Once you have a case built up – you have 1 or more violations, you have proper identification – you send the US based company, who is equally liable for the TCPA violations as the call center they hired, what is called a demand letter. I like to email mine but some send the letter certified mail.

This letter outlines what happened, it explains the violation, the penalties they could face if you file a suit and they lose in court, and then you make an offer to settle.

TCPA specifies that each violation is $500 but also states that if the violation is “willful”, that amount can triple. So the penalty for 2 violations is $1,000 but would increase to $3,000 if those violations are willful, that they knew they were violating the law and that they made no effort to avoid the violations.

When the company gets your letter, they either respond or ignore. For me it’s about 50-50 if I get a response. Sometimes a response will say we disagree and then there is some back and forth communication. But it almost always ends in the company offering some sort of settlement which will almost always include a multiple page settlement agreement and will usually include a non disclosure section.

If the violator wants to include a non disclosure in the settlement, they need to pay extra, that is not part of the payment I am entitled for their violations. It is fairly standard for an NDA to increase the settlement amount by $500 or more. I know some who will not include an NDA unless they get a lot more than $500.

If you do not get a response, it’s common to send what is called a final notice that states they ignored the first letter and the offer to settle so you will be filing a lawsuit as a result.

Once again they may respond or they may ignore. If they ignore it, it’s now up to you if you file a lawsuit or not. If you are getting ignored and are not filing, the reason you are getting ignored might be the violator checked your local court system and found that you are not filing any suits.

In Closing…

I need to be very clear on something…

I am not a lawyer and this is not legal advice. Laws also vary from state to state. I am just outlining what I do. What you can or should do might be completely different based on your location. The information I have provided here is just the tip of the iceberg. This is not for everyone. In fact, most people probably should not do this, going after robo callers for violating the law.

I would, however, encourage each and every person to waste as much of the robocallers’ and scammers’ time as possible. I would say if your motivation is making money and you do not get any satisfaction in any of the process, it’s probably not for you.

I get extreme satisfaction knowing I am fighting back, that I am being a pain to those who caused me so much pain, and that by spending time with me means they are not trying to sell my elderly mom an incredibly poor product at an inflated price because that is why they are violating the law in making these calls – they are not able to legitimately sell their products using legal marketing.

I would close by saying this is not free money, and is not for everyone. I just happen to have some of the skills that help me, and more importantly I have the motivation that they provided 15 years ago with my sick relative.

If this is something you are interested in pursuing though, check out Doc Compton’s tips which will help you as much as it helped me: Turning Robocalls into Cash Kit

(I am in no way getting paid to share this link or from sharing my story here. J. asked me to write something up after hearing about my success so I politely obliged. I do hope this gives you a good glimpse into the illegal world of robocalling, though)

– Steve

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Like this?

Here are other gigs that require similar skill sets:

• Side Hustle #72: Finding Hidden Money as a Forensic Accountant ($300/hr)
• Side Hustle #61: Patent Researcher ($100-$1,000+ each)

For our full list of hustles, click here: 80+ Ways to Make Extra Money

Thanks again for this, Steve! And congrats on all your success!!

[This post, “I’ve Made $40,000 going after illegal robocallers.” (Side Hustle #84), was first published by Guest Author on Elite Edge Money]

[Mornin’ y’all! Got an awesome (and funny!) guest post today from personal finance legend Pete over at Do You Even Blog. Pete talks about the “Buy It for Life” Movement and why spending just a little more money on higher quality stuff ends up saving you more in the long run. Enjoy!]

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“Excuse me, sir, is this your child?” she asked.

I’m kneeling down in the middle of Wal-Mart, shopping for chapstick, when a lady taps me on the shoulder.

“Oh my, yes! Thank you! I was just…um…sorry.”

It was my child.

He had wandered off at some point in the previous TWENTY MINUTES when I had been comparing prices of chapstick.

Yes, chapstick.

Yes, 20+ minutes.

I, Pete McPherson, am a cheapskate.

My father’s a cheapskate, and his father before him. It’s in my blood.

But the good news? Being cheap saves me money…

WAIT, does it?

Does being cheap actually save me money?

Answer Sometimes being cheap costs me money.

Introducing the “BIFL” movement (Buy It for Life)

When I married my wife, I couldn’t wrap my head around how she could spend $300+ for a ski jacket.

ONE JACKET. 

Her argument?

“This $300 jacket will last me for DECADES, if not the rest of my life. I won’t have to buy a new one every few years LIKE YOU.”

It was true.

I was notorious for buying cheap stuff (especially clothes) that would only last a few years before I would slog miserably to the store to buy a (cheap) replacement.

Luckily, like all good marriages, my wife began to wear off on me.

For the past 5 years, I’ve been working hard to change my shopping habits from one of “save some money now” to “save MORE money over the long run and also own better things.”

“Buy It for Life” is now my obsession.

But before I share some fun BIFL items, here are 4 concepts behind the BIFL philosophy.

BIFL Concept 1 – Look for Lifetime Guarantees

If your Darn Tough socks wear out 20 years from now, you can return those bad boys and they’ll replace ‘em.

If the JanSport backpack you wore in MIDDLE SCHOOL is coming apart at the seams, they’ll fix it for you for free.

Did you buy brake pads for your vehicle? You should be able to return to the store you bought them from and get free brake pads forever. Most people don’t realize they can exchange brake pads for life.

• Craftsman
• L.L. Bean
• Eddie Bauer
• Osprey
• Duluth Trading Company

Every company’s “lifetime” warranty is a bit different, but it’s worth getting to know which companies offer real lifetime warranties!

A quick Google search yields 15-20 more brands that’ll help you save money in the long run.

BIFL Concept 2 – Look for Modular Items

“Modular” in this case means buying items with parts you can replace separately.

Yes, I own a $330 drip coffee maker (more on this below).

But if anything ever breaks or wears out, the system is modular. I don’t need to buy a whole new coffee maker, I can replace the one part.

I build my own computers and keyboards (#nerdalert), which are modular. It makes it easy (and cheaper) to update and upgrade them, as I can simply upgrade one part.

BIFL Concept 3 – Obsess Over Quality

Warranties aside, quality products generally just last longer. 

Yes, quality is expensive, but remember what we’re going for here: long-term savings!

I swear – I will NEVER buy another kitchen appliance from Wal-Mart. It’s like they’re engineered to fail after a year.

Find quality goods. More bang for your buck.

BIFL Concept 4 – “Buy It for Life” Items Will Also Make You Happier

And I don’t just mean “Oh I bought a really expensive jacket and now I’m happy!”

I mean long-term satisfaction.

That feeling that you are spending your money wisely (and probably helping the environment, too, though that’s a topic for another day).

But also…yeah.

Owning nicer things is fun too. ;)

Here Are Some “Buy It for Life” Items for Inspiration

The Technivorm MoccaMaster Coffee Brewer

At $330, even my savvy wife complained about my new drip coffee machine.

She has since caved and admitted it was totally worth it (and also admitted I am a bonafide genius husband).

The Moccamaster is THE. BEST. HOME. COFFEE. DRIP. MACHINE. In the world. (Just trust me, I’m obsessed with home coffee).

It’s also modular and backed by a 5-YEAR warranty.

Darn Tough Socks ($20-25ish a Pair)

I hate wearing socks, mainly because I’m usually too cheap to replace the ones I have (with holes in them). >_<

But a while back I fired off a tweet asking for sock recommendations, and the results were clear: Darn Tough Socks.

(Sam from Government Worker Fi replaced his after 11 years??).

• High quality (though they run small in my experience. I buy one size larger than normal)
• Excellent selection
• Lifetime warranty

I’m now a loud-n-proud owner of 2 pair.

Swingline Staplers

Queue the Office Space quotes!

It’s silly, yes, but it’s also one of those “This stapler is a BEAST that my grandmother gave me, and now I’m giving it to you, grandson…” items.

And it only happens every few months, but MAN is it annoying when a stapler doesn’t work. Why is that? I think maybe because it’s such a simple task. ;)

Patagonia Winter Wear

For these, you can thank my wife and her vast experience with cold weather.

It used to be The North Face, but their quality seems to be going downhill in recent years.

Now, it’s Patagonia.

Aside from being generally high quality, they also have a nice repair policy (you can bring in any Patagonia item into any Patagonia store and they can do small repairs, or you can ship it to them for larger repairs or a patch kit!)

A Mechanical Keyboard

Ok ok ok…this one is less of a long-term cash savings (how often have you been replacing your keyboard?), but more of a quality-of-life improvement that’ll last a really long time.

I got my first mechanical keyboard when my Apple keyboard got several sticky keys, and it’s fair to say I’m OBSESSED with them at this point.

These keyboards:

• Are modular!
• Way way way more durable and reliable than normal keyboards
• Customizable, fun and pleasurable to type on (FYI, they don’t have to be loud and annoying. Grab one with linear switches!)

They WILL last longer than normal keyboards.

Wanna learn more? I wrote a blog post on this What is a mechanical keyboard? A simple guide to differences and benefits.

#NerdAlert

Corelle Dishes

Just TRY to break ‘em.

I inherited some ancient Corelle dishware from my grandmother (they were uber-old and uber-ugly), and at first I hated them.

But they were lightweight and insanely durable.

We’ve since upgraded to newer Corelle (that were designed in this century) and couldn’t be happier. 

NOTE: Pottery Barn dishes are a “never again” purchase in our household. These are the opposite of BIFL. Ours started chipping in year 2 at the slightest touch, and they’re expensive to boot!

Pyrex stuff (same company as Corelle!)

If you’ve had Pyrex bakeware, you already know. 

That stuff lasts!

Yeti Coolers (or Stanley stainless steel thermos)

Two years ago I spent $60-ish on an off-brand cooler from (you guessed it) Wal-Mart.

I then proceeded to purchase multiple bags of ice EVERY DAY of a 3-week camping trip.

Then the handle got stuck.

Enter the BIFL cooler: Yeti

Y’all have NO IDEA how hard it was for me to throw down $350 for a cooler–but now that I’m using it, I’m constantly reminded that it’s a long-term investment!

I spend far less on ice (speaking of me being cheap, it’s silly how much bagged ice runs), and I’m hoping to get decades out of the Yeti.

In the market for a thermos? 

Grab a stainless steel Stanley brand (they’re apparently affordable, though I wouldn’t know. I’ve been using my father’s Stanley from the 1980s).

NO FURNITURE from Ikea

Look, I love me some Ikea. 

Where else can you grab a couch, rug, and coasters-you-didn’t-really-need for under $400?

But in my experience, Ikea furniture is cheap for a reason: It simply doesn’t last.

EXCEPT: glassware from Ikea. My wife has had the same drinking glasses for more than 15 years at this point, so maybe the glass stuff from Ikea is officially BIFL.

Miele Vacuums

I personally don’t own a Miele, and they are definitely expensive, but I’m constantly seeing them mentioned as BIFL vacuums.

But aside from Miele, I CAN speak to the fact cheap, off-brand vacuums are the WORST when it comes to wear and tear.

We bought a “Dyson-alternative” off-brand a few years ago. We saved $100ish, but the thing sucks (and not in the vacuum way. It’s falling apart and now we need to buy another one).

Fiskars Tools and Lawn Equipment

Want tools to pass down to your grandkids one day? Buy Fiskars.

Wusthof Kitchen Knives

Every time I visit my parents, I’m appalled by the dullness of their kitchen knives, and my father generally comes at me with “I don’t want to buy a new one!”

If you do any cooking at home (and I’d argue you should), having a reliable, sharp chef’s knife is everything.

There are lots of great brands, but Wusthof strikes a good balance of affordability and durability. 

PRO TIP: Invest in a knife-sharpening kit! They’re cheap and literally make knives like Wusthof BIFL.

Red Wing Boots

Yet another company with a reputation for quality clothes, or in this case, work boots.

They also offer “a la carte” repairs from their website where they can replace or repair specific parts of the boot (which is cheaper than a “standard” repair), and they have a lifetime warranty.

Hanks Belts

Why on Earth would you spend $70 on a belt?

Well, so you can avoid spending $20 every 7 years for the rest of your life. ;)

Hanks leather is the way to go.

But What About You? What Are Your “Buy It for Life” Purchases?

What brands do you willingly pay more for?

Drop us a comment below with a recommendation or two!

*****

Pete McPherson is the founder of Do You Even Blog, an award-winning blog, podcast, and YouTube channel dedicated to helping creators build impactful (and profitable) businesses on the Internet. He has interviewed some of the top entrepreneurs and creators in the world, (including Jamila Souffrant, J.D. Roth, Tanja Hester, and many other awesome personal finance folks!)

NOTE: Links to Amazon throughout the post are affiliate links, meaning we’ll get a few bucks if you end up purchasing any of these BIFL items mentioned today. (Which we will then put towards new BIFL items for ourselves! Thanks! :))

[This post, 13 “Buy It for Life” Items That Save Money and Bring Happiness, was first published by Guest Author on Elite Edge Money]

[I love hearing how people’s FIRE journeys twist and turn over time. Today’s guest post is from Olaf, a.k.a. the “Mile High Finance Guy” who shares his story and some epiphanies during his pursuit of financial independence. My fav part is Olaf’s overarching conclusion: “Enjoy the pilgrimage as much as the destination.”]

*****

Hi world, I’m Olaf.

I am the Mile High Finance Guy. Today, I would like to share my tale of how FIRE has profoundly impacted my life and the lessons I have learned along the way.

Why should you join me on today’s expedition? Because FIRE took me from the world of wine to financial services to blogging and gave me the courage to take huge risks along the way. So, without further ado, here we go!

Preface

Back in 2014, I was a recent college graduate. Having attained a Bachelor of Science in Business Administration, the world was my oyster. But first things first, I needed a break before spending the next 40-plus years of my life climbing the corporate ladder. Or so I thought. 

So, with ample savings on hand for such a scenario, I took a three-month intermission spent mountain biking. Over 90 days, I rode nearly 90 trails between the Mile High City and Moab. Life was good. But as those final days weaned, so did my bank account. So, off to the world of 9-to-5s I went!

Nearly immediately, I fell into an unusual job through who I knew, not what I knew, and I was working for a foreign winery, helping grow their U.S. presence and sales. Fast forward five years, and many cross-country wine tastings, festivals, and dinners later, it became readily apparent that the business needed a new direction. After much research, I determined either a physical tasting room or a virtual approach was required going forward. 

So, I put my job on the line and presented the owner with my thoughts. After deliberation, the owner and I decided the best course of action, given his changing goals, was to scale back spending and move toward a virtual approach that saw my income and time spent cut by 2/3. 

Newsflash: I now needed to find new full-time employment, as my job-turned-side-hustle was no longer enough.

During this time of upheaval, I was diagnosed with a hip defect that my outdoor lifestyle had aggravated (ah, to be a Coloradan) and now needed major surgery in my late twenties. Furthermore, many of my closest friends moved across the country, and another had shown their true colors and required parting ways. Amplifying these events was my inability to find a job locally in my area of expertise.

Soon I experienced anxiety and depression for the first time in my life. When it pours, it rains (or snows)? I do live in Colorado, after all. 

So, with Colorado being a state not known for wine (beer and marijuana are another matter), I pondered my next steps. Thankfully I had a supportive partner who is now my spouse.

During this reflection, I weighed restarting my career rather than heading west toward the wine country. 

But, if not wine, what was next? The answer burned in the embers of my FIRE journey.

FIREing Into a New Job

Shortly into my journey of entering the professional world, I stumbled upon Financial Samurai. The discovery led me to find Budgets Are $exy, Mr. Money Mustache, Physician on FIRE, and many other money blogs. 

Before I could say Financial Independence, Retire Early, I had begun saving a large chunk of my income. I was pruning expenses left and right, using Excel Spreadsheets to craft sexy budgets, and spouting the wonders of compound interest!

Consequently, my immersion into the world of personal finance sparked and provided the ignition for my next professional endeavor: financial services. 

A Rapid Progression and Departure

Within six months of entering the financial services industry, I attained my Series 7 & 66 licenses. Next, I moved from an introductory role into an advisory one, consulting with defined contribution participants regarding their retirement savings. Often, I would advise on what to do with old 401(k) plans. 

(Defined contribution is a fancy way of saying 401(k) and 403(b) plans.)

Then, within five months, during which I had a significant surgery unrelated to my hip, I found myself in the Pandemic Plunge while relearning how to walk. 

As all hell broke loose in February and March of 2020, the stock market saw breakers triggered daily to halt the sell-off. No longer was the advice that I was giving was theoretical. Instead, it became real. 

The Corona Crash and its Aftermath

During the chaos, I had many heartfelt conversations with individuals who had just retired, were nearing it, or had experienced a layoff. Others had just started investing and were frightened. Regardless, these individuals needed their money to be there for them in days or years ahead, and their accounts were free-falling. 

The most common question I received was how to stop the bleeding. While to seasoned investors, such an idea may seem erroneous, consider that many (but not all) employer-sponsored retirement investors stumble into investing by gaining a job. 

I helped people learn about investing through the many phone calls, reconfigure their portfolios to match their risk tolerance, and raise cash for their immediate living needs (if laid off with no emergency fund). 

At the same time, while many people listened to me about tuning out the turbulence, others didn’t and chose to sell their entire portfolios. However, I respect these choices, as it is their money. It never was my job to force people to do what I thought was best, only to provide them with guidance. If they could not sleep at night, they needed to take action.

After the chaos subsided and the markets stabilized (from unprecedented stimulus measures), life returned to somewhat normal in the financial service industry. Soon after, I received a promotion to a higher tier of the same job, helping clients with higher incomes and net worths. Then, later that year, I had hip surgery after a delay due to the more urgent surgery that had preceded it. 

Upon returning from hip surgery, I soon received another promotion to the top tier within my division. However, that didn’t last long, as four months later, I found myself craving for more and quitting my role due to disagreements with the division’s direction. By this point, I discovered that my job wasn’t aligning with my goals, and the change in upper management and strategy, paired with the constant anonymous grind of working in a phone center, led to me extinguishing this job in hopes of some healing.

Reborn From the Flames

When I quit, my spouse and I were well on the way toward FIRE. But being miserable is an awful thing. 

Fortunately, FIRE gives you the power to say enough is enough and change directions, even if you haven’t reached it yet.

So, with ample savings, a stable and fulfilling job for my supportive spouse, and a side hustle income stream from wine consulting, I said goodbye to my six-figure 9-to-5 job.

However, what began as a sabbatical with no end goal in mind soon turned into a new mission. 

You see, I knew when I quit that I wanted to share knowledge, but I wasn’t sure how. But one day, it struck me: I could share my views and knowledge through a blog, like many of my aspirational figures. Hence, Mile High Finance Guy was born. 

Now, I work two part-time jobs as a winery consultant (for the same winery) and investment advisor while running my blog full-time. I find my life much more fulfilling, but that doesn’t mean that anxiety and depression don’t occasionally make their ugly heads known. After all, to be human is to be imperfect.

My Struggles and Lessons Learned

I have long been obsessive about endeavors I embark upon, as I find balance and moderation theoretical rather than practical. Therefore, throughout my professional journey and up until recently, I struggled with frugality and spending. 

I often pivoted too hard into saving and refused to go out with friends in the past. After all, if the money wasn’t in my budget, it wasn’t there to spend! But such thinking was mistaken. 

Instead, saving and frugality are about enjoying the pleasures of life while cutting down on the things that aren’t. The result is a fulfilled present and brighter future. 

Newsflash: If you cannot enjoy the present without stressing about every dollar, you no longer live a fulfilling life. Instead, you have gone from strategic spending to cheapness (unless you struggle with poverty).

Thus, my biggest lesson learned during my journey towards FIRE so far is to enjoy the pilgrimage as much as the destination, as things won’t magically change once you arrive. 

Furthermore, I put too much of my life on hold to save more. Don’t do that. Find a balance of spending and saving that works for you, as life is too precious to delay or procrastinate away. 

Because money is equal parts math and emotions, finding balance won’t always come easy. But, achieving financial freedom should still be the goal, regardless of how long it takes. 

While you will likely face strain from saving initially, that will probably pass. However, if saving turns into self-imposed deprivation, you have gone too far. 

For me, FIRE has evolved into FI, as I never want to retire early. Instead, I want to do what I want, when I want, and however I want. To me, that means empowering others to learn about personal finance and enjoying the outdoors Colorado has to provide. For my spouse, that means helping others and making an impact, which she already does by working in health care. Thus, while we both may never formally retire (until old age slows us down), you can bet we will be FI until then. 

My 6 Takeaways On Money & Life

• Enjoying the journey of FIRE is as important as reaching the destination. So, learn to enjoy today because life doesn’t magically change when you arrive.
• Strike a balance between saving and spending that achieves your goals in the present and future. Ideally, if you aren’t in poverty, find a way to save at least 20% of your income, but preferably more.
• Money is equally emotional and numerical, so don’t grill yourself too hard about mistakes, and be sure to celebrate your wins!
• Learn your risk tolerance and invest accordingly, as anyone can enjoy the gains during a bull market, but not everyone tolerates downturns with grace. By investing in a balanced portfolio that matches your risk tolerance, you will be ready to face volatility.
• Having an emergency fund while you are in your accumulation phase is essential. By doing so, you insure against an unforeseen layoff and provide yourself with a safety net.
• Ask yourself what you are genuinely trying to achieve with FIRE. If you can implement any of it today, do so! 

Thanks for reading my story. I hope you found it helpful, and I would love to hear your thoughts and questions in the comments below.

*****

[Olaf is a millennial who has a passion for personal finance! When he’s not typing awesome blog posts, he likes mountain biking, hiking, and traveling. Check out more posts over at his blog – Mile High Finance Guy]

[This post, “Enjoy the Pilgrimage as Much as the Destination”, was first published by Guest Author on Elite Edge Money]

Yo, yo! Happy Monday money nerds! Today we’ve got a celebrity guest blogger — Sam a.k.a “Gov Worker” — who runs a kick ass FIRE blog that helps government/federal employees work towards financial independence.

What I love most about Sam is his attitude toward his job. It’s a refreshing change from the common complainy-pants people out there. Also I love the way Sam helps and encourages his co-workers. It’s truly inspiring!

Whether you work for the government or not, you’ll enjoy Sam’s perspective and have some cool takeaways from this guest post.

*****

It was only supposed to last 3 months. 

Twelve weeks (or six pay periods) to be exact. Twelve weeks until I could go off to college and make my fortunes in the world.

While I still remember my first 12 weeks of federal employment, it happened more than 20 years ago. Somehow, I never left my first “real” job after leaving high school. 

For someone who wanted to get in, make money, and get out, I kind of failed at the “getting out part.” Not only am I now a long time fed, but I have also created a personal brand around helping federal employees with their unique money situation. 

While I’ve shared lots of personal stories on my blog, I never really explained how I ended up being a federal employee money expert. 

I thought this guest post would be a great chance to mix in a whole bunch of advice for federal employees along with my personal narrative of my 20-year government career.

My 6 Biggest Tips for New Federal Employees 

1. Get in the door any way you can

It can be hard to land your first federal job. However, I had a fluke occurrence that landed me in a (temporary) federal job at age 18. 

In the last few months of high school, everyone was buzzing around the school talking about what kind of summer job they got. It was the first time that most of us were 18, and therefore lots more jobs were available to us. We all wanted to make a ton of money before heading to college in the fall.

I knew that I wanted to go into the sciences and thought it would be great if I could get a job in any sort of laboratory doing menial tasks. I cold-called every business with the word “laboratory” in the phone book by sending them a cover letter and resume in the mail. (This paragraph makes me seem like a grandpa; technology has changed a lot in 20 years!)

I got a call from a federal laboratory near the university I was planning on attending. They said they didn’t have any laboratory technician jobs, but they needed someone to mow the lawn for the summer.

I was about to tell them I wasn’t interested when they said it paid $10.50 an hour ($15.46 in today’s dollars). That was at least $1/hour more than anyone else I knew was making. I kindly told them that I would love to interview for the position as soon as possible.

Advice for potential federal employees

What does my personal story have to do with potential federal employees? I probably never would have qualified for the lawn mowing position if it had been a permanent job. The federal hiring process has provisions for veterans’ preference, and many positions that do not require a college degree are filled with veterans. 

However, at the time, the federal government could hire students into temporary positions non-competitively. I was hired as a STEP (student temporary employment position) with a not-to-exceed date 12 weeks after my start date. 

Once I was there, great things started happening. I found out it was a great place to work. They found out that they liked my work ethic and were always looking for undergraduate students who could work independently. I eventually got another STEP position doing research and after several years was able to apply for a SCEP position that helped me land a permanent full-time government job.

While I don’t think you can copy my playbook entirely (for one thing the government abolished the STEP and SCEP programs and replaced them with the Pathways program), my advice for federal employees still stands. If you know that you want to work for the federal government, just try to get “in the system” any way you can. Moving from one federal position to another is much easier than moving from the private sector into the federal government. 

2. Understand your compensation

Most jobs have a simple compensation structure. You work. You get paid. If you’re lucky, they’ll toss something into your 401(k). 

In contrast, the federal government has an incredibly complex compensation structure with many non-taxable federal employee benefits that increase your total compensation. 

Part of this complexity comes from federal pay rules. The federal government developed their pay plan in 1923 to ensure fairness in pay across different jobs. (i.e. a mail-clerk working for the Department of Agriculture in Kansas would make as much as a mail-clerk working for the US Patent and Trade Office in Maryland). 

Unfortunately, jobs today look nothing like jobs did in 1923. Since changing the federal pay structure requires Congress to pass legislation (which requires both political parties to agree on something), pay and compensation is still based upon this 1923 model with minor tweaks here and there.

Depending upon when you were hired, you may or may not pay into Social Security, you may or may not have government match on your TSP (or Roth TSP) contributions, and you may pay anywhere from 0.8% of your salary to close to 5% into your pension annuity.

Confused? I spent hours reading and re-reading every employee handbook I could find. I eventually became the “go-to” person in my office when people had questions about pay and benefits. (There are a surprisingly high number of federal employees that have no clue how their pension works. If you don’t believe me, check out Reddit or Facebook). 

I got so tired of seeing people make bad decisions from bad information that I decided to start my own blog where I break down these Byzantine employment rules into easy-to-understand first-person narratives that people could relate to. 

Helping other federal employees has been a huge joy. I often get “thank you” letters and they warm my heart. 

3. Tune out the media

One of the worst parts of being a federal employee is that everyone seems to have an opinion about us.

When the economy is good, we are portrayed as lazy and unmotivated for not applying for a high-paying private sector job. When the economy is bad, we are portrayed as lucky. People feel that we are getting paid too much and that our pay and benefits should be slashed like they were for all the other people in the U.S.

And let’s not forget phrases like “drain the swamp.” 

In fact, I can’t remember anyone ever saying anything positive about federal employees. Here is a sobering statistic: While almost 6% of Americans work for the federal government in some capacity, only 17% of Americans trust federal employees to do the right thing. 17% means that only federal employees, their spouses, and parents trust federal employees…  

Which is sad since federal employees do incredible things to keep our country safe and make it great. 

Did you ever experience the pleasure of spreading some grade AA butter on fresh bread? Some federal employee made sure your butter was amazing and a company didn’t give you rancid fat they tried to pass off as butter. 

Have you ever received a small business loan? Or a Social Security check? Or seen the Grand Canyon? 

Yeah, federal employees made that possible. 

My advice to federal employees is to avoid the media (and as much social media as you can). You may be this country’s Superman, but everyone just sees you as a dorky Clark Kent and is incensed they pay your salary. 

Revel in your secret public service and don’t let the ignorant masses get you down.

4. Celebrate your length of service milestones

Wanna know what video games and federal employment have in common? You can “level-up” in both of them. While your hit-points and magic-points won’t increase with your “years of service,” your federal employee benefits level up the longer you work for the government.

At three years, you start earning six hours of vacation per pay period and are fully vested in the TSP. Once you reach 10 years of service, your spouse will receive your pension benefits if you die in service. That can be a huge benefit (and potentially reduce your need for life insurance depending on your financial situation). And there’s nothing more magical than 15 years of service — when you start earning a jaw-dropping 8 hours of vacation per pay period.

In fact, I’ve tabulated all of the milestones of federal employment and you “unlock” a new benefit at 1.5, 3, 5, 10, 15, 20, 25, and 30 years of federal service. See how many of them you can collect before you retire!

5. Bask in your health insurance after retirement

Hopefully you find your federal employee journey to be as positive as mine has been. If you find yourself enjoying federal employment into your 50s, you might want to stick around until you reach your minimum retirement age (MRA). 

Once you reach MRA, you can keep your federal employee health insurance in retirement.

Not only can you keep your health insurance, but you can also keep paying just the employee portion.

For the rest of your life.

This is by far one of the best stealth-benefits of federal employment (and I calculate it’s worth at least a half-million dollars). However, if you retire early from the federal government you lose this incredibly valuable benefit (even if you leave just one day before your 57th birthday). 

Enjoy Federal Employment for What It Is

Hopefully you enjoyed my advice for federal employees based upon my own personal narrative. Ultimately, my biggest piece of advice for federal employees is to enjoy federal employment for what it is. You get a chance to make Americans’ lives safer and better every day at work. If you make a long career of it, the government will provide you an adequate (if not generous) pension for helping the country. At the same time, you’re never going to be a billionaire working for Uncle Sam. 

In my mind, there’s no one else I’d rather work for. My government job is filled with purpose and service; two qualities that are linked to happiness in life. On top of that, I get plenty of vacation and can clock out after my 40 hours are done. If you’re feeling down about your federal job, try to step back and take a look at the big picture. 

At the end of the day there are lots of great reasons to work for the federal government. And I am so happy that a random cold call landed me a job with the world’s biggest (and in my opinion best) employer.

*****

Be sure to check out Sam’s blog GovWorkerFI and subscribe to his ongoing posts for more nuggets of wisdom!

Have a great week, y’all! I’m off to go searching for a cool new federal job!

– Joel

[This post, FIRE Advice for Federal Employees and Other Government Workers, was first published by Guest Author on Elite Edge Money]

[Good morning, friends! Today on the blog we’ve got Jason Brown from Margin Matters sharing how to pay for college without loans. After earning his bachelor’s degree and graduating completely debt free, he went back to school 15 years later for a master’s degree and also found ways to graduate with no debt.

If you’re in school, or want to encourage your kids to graduate with the lowest amount of debt possible, check out Jason’s tips and tricks to save money and avoid college debt!]

*****

How I Earned 2 College Degrees Without Loans

Over the past 40+ years… 

• Gas prices have increased about 300%
• Gold has risen more than 1,200%, and …
• College costs have outpaced them both — skyrocketing more than 1,600% higher than they were in 1975 

The exorbitant cost of college has directly led to many students taking out massive loans that are increasingly difficult to pay back. As a result, many young Americans are being crushed by student loan debt, which is now over $1.7 trillion — America’s largest form of debt other than home mortgages. While investing in yourself is usually wise, we must ask at what cost. 

You may have been led to believe that the only way to attend college is to take out big federal loans in your name. (Or to get your parents to take out loans themselves or be a cosigner on yours.) However, I’m living proof of the contrary. Here’s how I earned two degrees with no student debt: 

Getting a Bachelor’s Degree Without Taking Out Loans

Although I had been working since turning 15, there was no college savings, nor were my parents in a financial position to assist me. Therefore, living at home, commuting to school, and continuing to work was my only option to afford a higher education degree. 

While I was an undergraduate student, I worked at a Chick-fil-A. With my parents graciously letting me live at home for free, most of my salary was used on school and transportation. After earning a $1,000 scholarship from Chick-fil-A, I quit to find work closer to campus. I landed a retail job at the mall across the street, joined the staff of the student newspaper, and worked in the school’s athletic department. 

Juggling Jobs and School (and Winning a Scholarship)

As a junior, I was working three jobs and going to school full-time. Even with three jobs, money was not plentiful. After working with the athletic department for nearly three years, I received a full athletic scholarship for my final year of school. To my knowledge, I was the first non-athlete to receive an athletic scholarship. It completely covered my college tuition and books. 

Nearly six years had passed since I first stepped foot on campus, but I finally did it. I graduated with a bachelor’s degree and walked across the stage completely debt free-naïve to the fact of my massive accomplishment. My grades weren’t spectacular, possibly due to working all those jobs, but never did it occur to me to take out student loans. It was not part of my mindset. Perhaps because my parents never modeled or preached that debt was the answer. If you don’t have the cash to pay for it, you can’t do it. That’s what I’ve always thought. What do you do when you live that mantra? You find a way to get the cash. You work hard, become resourceful, and get creative. I recognize that the cost of college has ballooned since my undergrad days and many students feel forced into loans (or feel that debt is a way of life) in order to earn their degrees. Rest assured there is another way! 

How I Graduated from College Debt-Free 

• Lived at home
• Worked several jobs (on and off campus)
• Earned scholarship money
• Bought used books 

Woohoo! Walking across the stage debt free!

Earning a Master’s Degree Without Student Loans 

When I landed a full-time job with my alma mater Kennesaw State University (KSU), one employment benefit was the opportunity to further my education for free. The school offered a Tuition Assistance Program (TAP) that would cover all tuition costs. My only out-of-pocket expense would be for books. Realizing the regret would be greater if I didn’t go for it, I began the application process. Never in my wildest dreams did I think that I would even qualify for graduate school or that I would be going back to school-especially at my age. Just the words grad school were very intimidating after being out of college for 15 years. 

Seizing an Opportunity 

Working at KSU during the day and going to grad school at night comprised the next several years of my life. Adding to the challenge was the birth of our first child during my first semester of school. Plugging away taking two classes at a time set me on a track to graduate within three years. To save money, most of my books were purchased in used condition on Amazon or eBay. Additionally, I was fortunate to be awarded two scholarships totaling $1,500 that helped pay for books. 

During my final year of grad school, I was offered a job I could not refuse. Sadly, this meant losing out on any remaining TAP money from KSU, but luckily, only one semester remained to be paid for. In preparation to cough up the nearly $3,000 for my final semester, I was pleasantly surprised to discover my new employer offered a tuition reimbursement program. I couldn’t apply fast enough. 

In 2018 I graduated with a Master of Arts in Professional Writing from KSU-a degree valued at nearly $20,000-completely debt free. 

How I Got My Master’s Degree Without Debt 

• Worked for the university and received a full tuition waiver
• Earned scholarship money
• Qualified for employer tuition reimbursement program (after leaving university job)
• Bought used books (renting books can now be a cheaper option) 

KSU Graduation with Family, Dec 2018!

Other Ways to Pay for College Besides Loans

Paying for college is a challenge for most. For the graduating class of 2018, the average student loan debt is $29,200 per borrower. There’s not always one clear path to pay for your schooling. You’ll most likely need to pool together funds from multiple resources. As Benjamin Franklin famously said, “An ounce of prevention is worth a pound of cure.” This is especially true when it comes to student loan debt. In other words, you’re a lot better off devising a plan to avoid student loans from the start. How do you avoid loans when you’re short on rich family members and trust-fund cash? Here are some ideas:

1. Work While You’re in School

This should be the obvious choice. While some students might say, “I don’t want to work because I’d rather focus on my studies,” unfortunately that is not the reality for many of us. A part-time job can help pay for college-related expenses and potentially reduce or eliminate what you need to borrow.

Most on-campus jobs are flexible-allowing you to work around your class schedule. Some campus jobs also offer tuition waivers and pay you a stipend. Finally, there is no shame in taking a gap year and working in order to save money for school. I’d rather work my butt off for a year than have to pay off student loans for the next 20. 

2. Get a Job That Has Employer Tuition Reimbursement

Instead of paying for education on your own, work for an employer that offers assistance. Several companies, such as Chipotle, Disney, Starbucks, Home Depot, UPS, AT&T, Verizon, Best Buy, Publix, Amazon, and Wells Fargo, are willing to help you pay for your education. Additionally, Chick-fil-A’s Remarkable Futures scholarship program is one that I can personally vouch for as a past recipient. Some companies may offer a student aid program that isn’t advertised. Check with your human resources department to find out. 

3. Apply for Scholarships and Grants

There are about $100 million in unclaimed scholarships each year simply because students don’t know they exist. In addition to lack of awareness, it seems people may be intimidated by the application process and think there will be too much competition for the money. No amount of financial aid is too small. You can secure funding to help cover books, housing, and other costs even as a sophomore or junior.

4. Dual-Enroll in High School

This one is huge for cutting college expenses because it allows students to earn college credit for classes taken during high school. These classes are usually taught to a higher standard and credit is issued through a public university. Depending on where you live, the credits earned in this manner can be transferred to state schools. If you happen to have a college near you that offers dual enrollment, you could save a ton of money on school tuition. Dual enrollment courses are often offered completely free or at steep discounts compared with the tuition fees of most colleges. 

Other Tips to Save Money While in College 

The saying, “Live like a college student” doesn’t have to mean eating ramen noodles and rolling pennies. It simply means being creative, resourceful, and wise with your choices. Remember, the key to financial success is being aware of how you’re spending your money. The idea of saving money in college might sound absurd-but it’s totally achievable. The more money you can save during college, the more prepared and confident you’ll be entering the real world. You might be surprised to discover all the ways you can save. Here are some tips to eliminate many of college’s biggest expenses:

1. Attend an In-State School

This single decision will save you tens of thousands! The average tuition at a public, in-state school is $10,230 per year, and the average tuition at a public, out-of-state school is $26,290 per year. That’s an annual difference of more than $16,000 and a four-year difference of a whopping $64,000. Private college rates are even higher.

2. Live at Home

I understand the desire to get away from your family, but living at home is one of the best ways to save-assuming you are attending school near your home. Even if your parents charge you a nominal rent, that’s probably going to save you much more than trying to live on or off campus. Although you’ll have some commuting expenses, you should still experience significant cost savings. 

3. Ditch Your Car 

Most college students don’t need a car mainly because they live on or near campus. Do you know how much it costs for the privilege of owning a car? According to AAA, the average annual cost of car ownership is about $9,000 a year. That’s a massive savings of $36,000 over four years. 

Today’s society offers a plethora of ways to commute. On campus, you can walk, bike, skateboard, scooter, or bum rides. Additionally, many colleges have free buses and shuttles that help students get around campus and even to nearby apartments and shopping centers. 

4. Maximize Campus Amenities 

Many campuses have an array of museums, movie nights and other social events for minimal or no cost. You certainly don’t need to pay $50 a month for a gym membership if your college has a workout facility you can use for free. Perhaps one of the most underappreciated and overlooked buildings is the library. In addition to books, college libraries have computers, videos, software, and more. This is all free to students. Additionally, several college athletic events offer free game tickets to students. Research what your school’s activity and athletic fees cover. You might be surprised! 

5. Ask for Student Discounts

Don’t leave home without your student ID. Many places offer student discounts including restaurants, shops, movie theaters, theme parks, and more. Discounts are available on everything from clothing to computers for those with a valid student ID. For example, Apple and Adobe offer reduced prices on tech, while hundreds of big brands give money off on clothing. Before you pay full price, see if there’s a student discount. 

6. Learn to Cook

Do your best to limit eating meals out. If you bought your school’s meal plan, use it. Student discounts aside, the cost of eating out can add up quickly. Consider investing in a good coffee maker instead of spending money every morning on lattes. It’s almost always cheaper to cook than it is to go out and buy pre-made food. While a dinner for $7 to $10 may sound cheap, it adds up over time. You can probably cook the same meal (and prep for future meals) for about half the price. 

7. Attend Events With Free Food

How do you get starving college students to attend an event? You guessed it, free food! Look for signs, posters, and promotions around your campus. Additionally, events will be announced on the school’s website, social media channels, and student email listservs. These announcements usually promote free food to lure students. You may feel like a scavenger doing this, but if you think about the enormous cost of food, the amount of money you’ll be saving, plus the fact that you’ve probably already paid for this through your tuition and activity fees, it’s a no-brainer. 

8. Earn Your Degree in Four Years

One of the best ways to save money in college is to simply have a solid plan for your classes and degree program. Earning a bachelor’s degree in four years, as opposed to five or six, can save you thousands. Contrary to popular belief, college is not the time to find yourself-it’s too expensive. You should be going to college with a specific purpose. Ensuring that you’re taking the right classes and progressing to earn your degree on time is a great way to save money. Every extra class and semester costs time and money. Better yet, if you can earn college credit while still in high school (see dual enrollment), do it! By knocking out several classes or credits early, you might even be able to graduate early and save money.

Final Thoughts on Spending on Higher Education 

As you can see there are many ways to pay for college and save money while in school. Unfortunately, when it comes to higher education, our culture tells us to borrow a ton of money then spend decades paying it off. Don’t let anyone force you into taking out costly loans to pay for college. There are plenty of less expensive options that can lead to a rewarding career. If you can save money in college, invest it, and become financially independent in your early 30s you will be far ahead of most of your peers.

I hope these suggestions have sparked some ideas that will create a new path allowing you to obtain the educational experience you desire without spending a lifetime in debt. Odds are, with the soaring cost of college, you’ll require more than one tactic to pay for school. 

Yes, You Can Pay for College Without Loans!

I’m here to share that IT IS POSSIBLE to earn a college degree and receive a diploma in the mail instead of bills for student loans. Many different resources exist that can help you pay your way through. If I did it (twice), so can you! Do whatever you can do to either graduate debt free or greatly limit any loans you might incur. Your older self will be forever thankful. Trust me.

*****

Jason Brown is the author of “Margin Matters: How to Live on a Simple Budget & Crush Debt Forever.” The book shares the story of how he and his wife eliminated $75,000 of debt in just three years and provides practical solutions to creating and sticking to a simple budget, eliminating debt permanently, and managing your expenses to create the most margin at any income level. Jason also blogs at Margin Matters and hosts a YouTube Channel.

[This post, How to Pay for College Without Loans, was first published by Guest Author on Elite Edge Money]