My Life Update and the Weekly Round-Up

  •  
  •  
  •  
  •  

[wp_campaign_1]

Every week I typically tell you about my website goals, but I understand that that can get a little tiring for those of you that aren’t actively building your own website (which is probably most of you), so I thought I’d do something a little different this week. Instead of talking about the progress of my website, I thought I’d let you in on the progress of my life – basically what my days are like and how these actions line up with what I am constantly advising all of you, my readers, to do in your lives. I want to show you that I don’t just spew words onto a page, but that I’m actively living out those words in my life as well.

My Main Activities

My life is consumed by four main activities: (1) my full-time job as a financial analyst, (2) my classes and homework for the MBA program, (3) this website, and (4) my work for the non-profit “Access of West Michigan”.

I currently own a 3 bedroom, 2 bath house, but by watching my spending carefully, I am able to live on just 60% of my after-tax income from my job. The remaining money, as well as the additional income that I get from my website just gets put into savings, which will most likely be used to pay a chunk of my home-mortgage off toward the end of the year.

I currently work for an amazing company that has agreed to pay for my MBA classes. When I finish up this program next April, I suspect that I will receive a promotion shortly thereafter, which will allow me to pay off the house even more aggressively than I currently do.

The Future Plans

I have always been an entrepreneur and an investor at heart, and I realize that if I invest in my future today, life will just get easier and easier in the future. This is why I am always looking for income sources outside of my full-time job. So far, I have been able to develop a steady income with this website, but I would also like to invest in real estate as well. Since I am debt-averse however, I plan first to pay off my home mortgage so I don’t have multiple debt loads dragging me down. If all goes as planned, I will have my home loan paid off by December of 2014. So, most likely I will have my first rental property in the spring of 2015. It sounds like a long way off, but in terms of paying off a house and investing in another, this is extremely quick!

Hopefully you enjoyed this reading. I’d love to hear your thoughts about my current life as well as my future plans! Be sure to leave a comment!

 

Weekly Round-Up

As usual, there were some great financial articles again this week. Here are a few that I enjoyed and thought you might like to look at too!

The Main Reason Why Employees Quit Their Jobs at Financial Samurai

Making Your Money Your Employee at Digital Personal Finance

How I Am Getting a Free Masters Degree at The College Investor

How to Beating Investing of Gambling at Don’t Quit Your Day Job

Investing Made Easy Part IV at Luke1428

What Price Would You Pay to Have it All at The Happy Homeowner

When You Have Your Dream Job You Don’t Spend a Lot of Time Dreaming at Retire by 40

The Ultimate Guide to Making Money with Lending Club at Narrow Bridge

A Personal Residence is Not an Asset at FI Fighter

Planning for the Future at Modest Money

Are You Hardwired to Make Bad Investment Decisions at Debt Roundup

Four Ways to Save Money and Reduce Debt at Yes, I am Cheap

If you enjoyed this article, Get email updates (It’s Free!)


  •  
  •  
  •  
  •  
  •  
  •  
  •  

Money

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

15 Comments

    • Ha. Yeah. Life has gotten quite a lot busier this year. In fact, I just walked in the door from class, looked at the clock and it was only 9:30pm. I feel like I have all the time in the world to get my project done before class tomorrow! 🙂 The night is young!

  1. You are a busy man as usual Derek. I have found that if I take too much on, I can’t get things done how I like to, so I am now just focusing on a few things at once. It is much easier for me. Thank you for the mention, my friend, I really appreciate it.
    Grayson @ Debt Roundup recently posted..The Weekly Personal Finance Digest – 7/14/2013

    • Yes, I am certainly busy, but it’s only for a short period of time. Classes will be done in April, and then I’ll have my MBA. I do know what you mean about not getting things done. There are definitely some things that had to get put by the wayside because there simply isn’t enough time in a day.

  2. Thanks for mentioning my post Derek! I think you are absolutely taking the right approach towards purchasing a rental. Rentals are great investments but you need some cash reserves as repairs and upkeep can be costly. We just had to have a new well dug at one of ours. That wasn’t cheap but because we planned our rental business properly we didn’t have to go into debt to do it.
    Brian @ Luke1428 recently posted..Hidden Nuggets – This Little Light of Mine

    • Sounds like you’re investing the right way Brian! Keep it up and you’ll be living the good life soon. Stay in touch!

    • No problem! Thanks for reading!

    • Ha, yes, I am pretty busy these days. The MBA is pretty crazy right now, but in 3 weeks my semester will be done and then only 2 to go! Woot! 🙂 I actually haven’t spent all that much time on this website lately. I make sure to write a couple of great articles each week, and then I have some excellent staff writers that fill in the rest. Good luck with yours! You’re going to love it.

  3. I envy your sheer organisation…a bit 🙂 How do you manage to fit it all in!? Great reading about your other current and planned alternative revenue sources…you can never go wrong with some additional income! Thanks for the mention
    Simon recently posted..Confidence And Sense Of Worth Can Go A Long Way

    • It takes careful planning to fit it all in. The best way to get a lot of stuff done…. get rid of your TV channels. I only have Netflix and pretty much only turn on a show when I’m eating dinner. Regular cable sucked me in big time. When I got rid of it, I added about 2-3 hours to my day! 🙂


Add a Comment

Your email address will not be published. Required fields are marked *

CommentLuv badge

Related posts