Part III Financial Backstory

Mr.Dollarman – Financial Backstory (Part 3)

Young AdultHood — Pre-Mrs. Dollarman This is the last blog post of a three part series covering my financial backstory. In this post I will talk about my struggles paying back a whopping ~$63,725 in debt, and the poor decisions I made during my young adulthood. If you haven’t read the first two post of this series you can check them out here: Mr. Dollarman – Financial Backstory (Part 1) Mr. Dollarman – Financial Backstory (Part 2) Finally free and on my own I could feel the tension in my body easing as I let off a sigh of relief after seeing thousands of graduation caps fall from the sky. The sleepless nights and constant grinding finally culminated with me achieving the goals I set out for myself five years prior. A week later, I received my commission into the United States Air Force. My heart

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Mr. Dollarman – Financial Backstory (Part 2)

College Armed with the Financial Lessons I Learned From My Childhood, I was ready to take on the world. Naively, my parents only held a few professions in high regard. In their eyes you could only become a doctor, lawyer, or engineer for them to take your chosen profession seriously. My parents would often lecture me on how: You can either toil away with hands/body, or let your mind toil away for you Mr.Dollarman parents Determined to please my parents, and intrigued with mathematics & science I chose engineering as my major. With no one in my community to lean on for guidance I embarked on this trailblazing journey alone. Day in and day out my days for five years straight were spent hitting the books. My main focus in school was racing to the light at the end of the tunnel. Semester after semester I

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Mr. Dollarman – Financial Backstory (Part 1)

The Lessons I Learned From My Childhood If one wants to define the future, they must study the past.  Confucious I find this quote by Confucius to be truly compelling, and yet so simple. For Mrs. Dollarman and I to define our future, we must first understand how our present came to be. Where did we draw our personal finance behaviors from? What financial mistakes did we make in the past? How can we devise a plan going forward to avoid those same mistakes again in the future? In a series of blog posts I’ll be diving into my financial backstory pre-Mrs. Dollarman. I’ll take you guys on a journey throughout my life highlighting the financial lessons I’ve learned along the way; both the good and the bad. Childhood My parents immigrated to the United States in the mid-eighties. They felt pressured to leave their country

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What is Financial Independence, Retiring Early?

What better topic to choose from as our inaugural post than defining, and diving into what it means to pursue Financial Independence, and Retiring Early (FIRE). Why does FIRE have us fired up as a couple? Well any thing that is important in the Military has an acronym right? Not a good answer, so let’s proceed. Before we get into the nitty gritty details, let’s start off with the basics first. So what is FIRE? FIRE Financial Independence is the self-realization that you have the freedom to choose what you want out of life. It stems from the understanding that you’re only bound by the financial shackles you create. To become financially independent you must first understand what your financial shackles are, and quantify them into cold hard numbers. You become financially independent when your assets (pension/investments/business income) equals twenty-five times (25X) your yearly expense. Often times society

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